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    Date submitted
  • 21-Feb-2017

Botpot, Inc.

Abstract

Botpot embraces the complexities of cooking perfectly delicious meals on a schedule and solves these problems through scheduling, automation, and IoT Integration by combining both our app controlled cooking appliance and an innovative pre-packaged food delivery service.

(1) The Botpot is the first at home automated robotic cooking appliance that can be operated remotely, truly from anywhere, cooking the perfect meal every time.

(2) Botpot Foods is our vacuum sealed pre-packaged meal kit delivery service that delivers healthy, fresh, high-quality meals that are ready to cook in your Botpot.

Video

Additional Questions

Who is your customer?

Considering our meal delivery market as specifically dinner, we project our Total Addressable Market (TAM) in the US $197.6bn. Our adjusted Served Available Market (SAM) is $58.1bn, with an annual Target Market of $2.49bn. Our pricing surveys of 2000+ people indicated at least 30% of all US households would purchase a Botpot for a TAM of $20.2bn, a SAM of $8.7bn based on direct retail, and a total Target Market of $1.8bn at an $800 price point.

What problem does this idea/product solve or what market need does it serve?

Cooking is a complex multi-step process. We surveyed 2,000 consumers asking why they were not regularly cooking fresh meals at home; the main factors were time (44%) and cost (23%), followed by skill and patience. Most don’t have enough time to plan a menu, go shopping, prepare ingredients, cook, and then eat. It is very time consuming with many points for failure. Successfully cooking delicious food is even MORE complicated and difficult.

What attributes will make this idea/product successful? Why do you believe that those features will create success?

First to Market - counter-top robotic cooking appliance. First to Patent (hardware & method). Comparable cost per meal ($10 avg) to other meal kit services. Pre-load multiple meals then cook one meal while refrigerating the rest. Choose when hungry - don't have to load it every day. Long hardware lifetime. (High Resale value, long customer engagement) Best quality food - we control the entire process. We solve the entire cooking problem.

Explain how you (your team) will execute to make this idea/product successful? What gives you (your team) an advantage over others already in the market or new to this market?

Part 1 – Appliance: Direct to consumer pre-sale (Tesla model) of hardware. $800 MSRP. $155 COGS. $60 CAC. $545 Profit. Part 2 – Pre-packaged food sales directly to consumers. $10 Per meal. 1 Yr LTV $3120. 35% Profit Margin. The value generated: time, cost, and health savings. 10x food deliciousness vs traditional cooking methods. Expansion – Meal Kit Partners, 15% profit share. Expand food sales to brick & mortar and online grocers.