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Business Prospectus: Initial Assumptions

Introduction

The EcoLive company is a new business venture that seeks to operate in a food delivery sector across the United States. The company seeks to address the importance of eco-friendly food packaging and delivery from the perspective of recycling activities, as well as to meet elevating customer requirements for a quality food supply during coronavirus pandemics. EcoLive strives to become a local food supply leader that seeks for minimum harm for environment while fully satisfying the needs of end consumers. Following the above statement, EcoLive seeks for using innovative technologies that reduce environmental impact on food and drinks delivery, while remaining loyal to the customer preferences.

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Analysis of Secondary Sources

Recent studies related to environmental protection in food delivery business have been investigated to support the idea of new business venturing. For instance, Swain et al. (2018) argued that the reduction of meat consumption in global diets reduces the environmental footprint in food production globally. For EcoLive, it means that product supply chain should be primarily focused on consumption of organic food that reduces health risks of the passive lifestyle during pandemics and isolation. Research and Markets (2020) published an article, where they articulate the importance of social distancing while delivering food to isolated individuals while the number of delivery requests progressively increases. EcoLive should consider this aspect for the momentum of trust when approaching end customer, who might be either infected or self-isolated during pandemics. Finally, Nakat and Bou-Mitri (2020) provided a ready-for-publishing opinion on the importance of using special assessment tools that evaluate food industry readiness to sustain pandemics constraints. For EcoLive, the application of such or similar assessment tools will improve the preparedness to the consecutive ways of pandemics while remaining sustainable in its environmental practices.

It is anticipated that business prospectus preparation will require additional qualitative inquiry to ensure that secondary data is validated. Since coronavirus pandemics worldwide is on a rise, short phone interviews with other food suppliers might be relevant to construct a complete picture of environmental and customer-centric risks. However, this effort will be limited to three to five known agents working in food supply companies because of time restrictions. Furthermore, additional data will be collected through ourworldindata.org for investment opportunities, statista.com for a general market research, and SpyFu for competitor activity monitoring. Therefore, final decision will be mostly based on secondary research, while also mediated based on primary response analysis.

Work Plan

The purpose of business prospectus is to attract attention of potential investors and contributors interested in environmentally oriented, crisis-focused, and proactive initiative of EcoLive in delivering quality food to end customers during the crisis times. Anticipating the importance of planning, Table 1 summarizes the preliminary schedule of the project tasks.

Table 1: Preliminary schedule

Project Task Start Date End Date
To develop a formal business plan for initiative approval Nov 1, 2020 Nov 15, 2020
To collect secondary data from relevant sources Nov 15, 2020 Nov 30, 2020
To collect primary data through interviews Nov 15, 2020 Nov 30, 2020
To liaison with environmental protection agencies on the initiative roll-out Dec 1, 2020 Dec 15, 2020
To liaison with food inspection authorities on the initiative approval Dec 1, 2020 Dec 15, 2020
To arrange delivery methods Dec 15, 2020 Dec 31, 2020
Roll out the initiative Jan 1, 2021 ongoing

References

Nakat, Z., & Bou-Mitri, C. (2020). COVID-19 and the food industry: Readiness assessment. Food Control, 121, 107661. Web.

Research and Markets (2020). Demand for food delivery explodes during the COVID-19 pandemic as consumers self-isolate and restaurants close down. PR Newswire. Web.

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Swain, M., Blomqvist, L., McNamara, J., & Ripple, W. J. (2018). Reducing the environmental impact of global diets. Science of the Total Environment, 610-611, 1207-1209. Web.

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