Reference no: EM13750726

OBJECTIVE

The objective of this project is to create a product that is both innovative and relevant in today's market. We aim to aid consumers throughout all markets in providing a resource that enables them to cut costs in food from waste, as well as reduce the difficulty of preparing meals and monitoring food consumption. Our product will attach to refrigerators and pantries. The consumer will scan each food item put into or taken out of the fridge or the pantry. The fridge and the pantry scanners will link to each other and then compile all products onto a database system on a tablet. This database system will then allow the consumers to search through what they have, monitor the levels of each item in stock, and auto-generate a grocery list.They system will also generate possible recipes for meals based on the food in the refrigerator and the pantry. Additionally, it will track the meals created and food eaten overtime to monitor the health of the consumer. The consumer will also be able to turn on a setting that would offer those suggestions on how to eat healthier.

PLAN

With our software, the strategy built around it is to assist consumers throughout all markets in providing a resource that facilitates them to cut costs in food from waste, as well as reduce the difficulty of preparing meals and monitoring food consumption. The system is made in one of the best manufacturing companies in Colorado being 100% U.S.A. made, and we take pride in delivering a great and reliable product. With the device, consumers will attach it to their refrigerator and or pantry. The customer then will scan each food item put into or taken out of the fridge or the pantry. The fridge and the pantry scanners will link to each other and then assemble all products onto a database system on a tablet. This database system will then allow the consumers to search through what they have, monitor the levels of each item in stock, and self-generate a grocery list. The system will also produce possible recipes for meals based on the food in the refrigerator and the pantry. Additionally, it will track the meals created and food eaten overtime to monitor the health of the consumer. Selling the products at stores like supermarkets, home goods, and restaurant supply stores will allow us to reach a variety of consumers as families, individuals and restaurants. We plan to produce revenue by charging these patrons flat fees for editorial services and then a reduced renewal fee for updated versions. Our system will be marketed on TV infomercials as well as promoting the device on popular TV shows like the Food Network Channel. The device is the first of its kind in the market, making the product a hot commodity for individuals, families and restaurants that are in the kitchen. The company will expand its product development to hopefully be pre-installed into every fridge as an extra feature or mandatory asset over time.

TIME LINE

1. Legal procedures (filing papers of incorporation, partnership, etc.).

2. Getting all necessary licenses and permits.

3. Purchase of materials.

4. Find a manufacturer.

5. Send first batch of products to customers who will send back feedback.

6. Once receiving feedback, ship private betas to continue working on the product to see what we can still improve on and tweak.

7. After a couple of months launch a public beta to release to a broader consumer base and market the product.

8. Begin to find stores who will carry the product: Home Depot, Lowes, Supermarkets, and home good stores).

9. Once product is fully developed begin to fully manufacture.

10. Begin advertising on Television such as The Food Network Channel.

11. Ship to stores who want to carry product in stores as well as sell product on our own website making it available to everyone in the world.

12. Find an international manufacturer to begin selling products in a different area of the world.

13. Expand the product globally.