Uf network oap
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The document proposes a social media-driven food community/marketplace called UFNetwork that allows individuals to purchase locally grown groceries and have them delivered. It aims to address Singapore's reliance on food imports due to limited land for agriculture. An online survey found demand for locally grown food in Singapore due to freshness, health, and environmental benefits. Respondents were willing to pay a 5% premium and favored crops like vegetables and potatoes. The proposed business model could generate estimated annual revenue of $80.6 million by serving 23% of the identified $350 million target market.
Uf network oap
- 1. UFNetwork Bring Locally grown produce to your doorstep
- 2. Background Overarching need to increase import of vegetables dues to growing demand from increased in population and low rate of local produce. Singapore also faces limited land area to grow food due to higher priority given to land usage for non-farming uses. Farming area in Singapore fell 10%2 over the last 10 years.
- 3. Vision and Concept Tobecome a social media driven food community/ farmer's market that offers individuals the ease to purchase locally grown groceries of their choice and have the purchase delivered to their doorsteps.
- 4. Hypothesis We want to find out is there strong demand for locally grown food in cities such as Singapore? Given the land scarcity in Singapore, are potential customers willing to use spaces in their home for growing local produce.
- 5. Insights from online survey The survey results reflect that there is a demand in Singapore for locally grown food. More than half of the respondents feel that it is important to have locally grown food. Reasons for favoring locally grown food: reduce reliance from foreign country. freshness guaranteed healthy environment friendly. Respondents are willing to pay a premium price of not more than 5% of what they will normally pay for. 57% of the customer segment is needed for the business model to work. The crops that match both need from grower and buyer side are leaf vegetable, tomato, carrot, cucumber, mushroom, potato are the desirable starting food that we will include for the community.
- 6. Insights from face to face survey Most of the respondents are more willing to give up a portion of their produce after knowledge that giving back to the community reaps some form of benefits Respondents are interested to aware of what is going on in the community not necessarily in the form of online games Regular posting of updates of community activities like plant growth update is highly desirable. Mixed review on the need for express delivery
- 7. Market Evaluation 2011 Per capita consumption (kg) 95 Population 5,183,700 Source:http://www.ava.gov.sg/AVA/Templates/AVA- GenericContentTemplate.aspx?NRMODE=Published&NRNODEGUID=%7bF2752F0E-A9A1-4A96-BA40- F6843F8CB26A%7d&NRORIGINALURL=%2fPublications%2fStatistics%2f&NRCACHEHINT=Guest#imports The total available market is SGD438mil and our initial market is SGD80.59mil. Refer to appendix for more details
- 8. Evaluation of Outcome Not necessary for the venture to create an online games that will shows community update Devise a method that will shows buyer the exact picture of the produce that they will be buying to inject a sense of assurance Make it clear in all communication to potential customers that this is a community and they will be incentivize for contributing more of their produce back to the community
- 9. Appendix
- 10. Source of Respondents Cities of Reponsdents Singapore Tokyo Belgrade Helsingborg Metepec Portland not identified 4% 4% 4% 4% 3% 4% 77%
- 11. Reasons for Choosing Locally Grown produce Freshness & Quality Safety & Quality Environmental Concern Reducing Importing Reliance 22% 44% 17% 17%
- 12. Current Practice in Grocery Shopping NTUC Wet Market Supermarket other 9% 30% 39% 22%
- 13. Respondent Willingness in becoming a grower for the network Yes No 23% 77%
- 14. Willingness to buy produce online with assured quality Yes No 35% 65%
- 15. Commonly bought produce 20 20 19 19 18 15
- 16. Desired produce to grow 12 10 8 8 7 7 7
- 17. retail cost/kg ($SG)* 4.23538834 kg $SG $US PCC x Market Evaluation a) Total consumption 492,451,500 2,085,723,343.0 1,668,578,674.4 Population b) F&B consumption (65%)* 320,093,475 1,355,720,172.9 1,084,576,138.3 a x 0.65 c) Other climate vegetables (40%)* 68,943,210 292,001,268.0 233,601,014.4 (a – b) x 0.4 d) Local farm produce 21,052,936 89,167,360.4 71,333,888.3 e) Total Available Market 82,361,879 438,001,890.0 350,401,512.0 a - b – c – d based on market survey f) Served Available Market (65%) 53,535,221 284,701,228.5 227,760,982.8 Q5 based on market survey g) Target Market (23%) 18,943,232 100,740,434.7 80,592,347.8 Q7 h) Revenue (80%)* 15,154,586 80,592,347.8 64,473,878.2 * Assumptions retail cost average from NTUC FairPrice b) 65% consumed by F&B c) 40% can't be growth locally d) local farm produce sold at retail price h) 20% taken by grower and donated to community