You all know that Online Food Industry market is growing in India. And we have recently updated an article about Zomato Case Study | Zomato Marketing Strategy but now today we will love to share Faasos Case Study.
Faasos Case Study:-
Fasoos is an Indian online food delivery company founded in 2011. Company headquarter is at Pune and works in 15 urban communities crosswise over India. Faasos is the only startup company in online food ordering business in India.
It was started with a slow pace but later on alike all other successful startup it gained pace.
They both are IIM-Lucknow alumnus. They founded Fassos after getting inspired by Kathi rolls of Jaydeep’s home city, Kolkata.
a food-on-demand start-up serving Indian delicacies, in Pune.
- The main thing which differentiates it from its competition is that it runs on both platforms online and offline.
- Its growth is recorded about 20-25% monthly which is also a milestone in today’s competition.
- It was launched in 2011, and this startup has served about 4.5 million customers.
- It serves about 20000 to 25000 orders per day.
- Mostly, about 70% order it
getfrom mobile user customers.
- It has seen 223K likes on Facebook, whooping 66.4 K followers on Twitter and 58.5k followers on Instagram.
- The company is on track to hit more than $20 million in revenues (2017-18).
- Business model: They work on the business model in which they provide quality food to its customer at doorstep delivery.
They Responded to all of its customers immediately after receiving their orders it means customer service of them is very good.
- Faasos advantage: It has a strong advantage of the offline supply chain. Presence of offline has enabled them.
Faasos Business Model:-
Fasoos keeps running on a cloud-kitchen display offering four in-house marks on its stage. These brands are Oven Story, Kettle and Eggs, and Behrouz. After Faasos case study now we will talk about Faasos business model.
Faasos was running on multi-mark market place since 2015 however then added four in-house brands to its platform. The organization depends without anyone else conveyance faculty to satisfy orders created through its very own application.
Fasoos is as of now working in 15 cities across over India including New Delhi, Jaipur, Noida, Bhopal, Bangalore, Hyderabad, Ahmedabad, Baroda, Chennai and so on.
Clients can order with sites or versatile application for Android and iPhone and look over an extraordinary scope of Breakfast, Indian dinner boxes, Chinese, South Indian, Rice and Biryani combos, a universe of Wraps, Desserts, and get the food delivered to your doorstep in the blink of eye time.
It is currently following the pizza chain, Domino’s, business model. It is in every neighbourhood, guaranteeing delivery in 30 minutes and ensuring a
Indian food delivery market is valued at 15 billion dollars and set for exponential growth. Food Delivery has turned into an extremely focused market in India.
Faasos is in a direct challenge with major on-request sustenance aggregators like Zomato, Swiggy Whereas there are different contenders like Tinyowl and Holachef. Despite the fact that Faasos has a marginally unique plan of action than others.
To emerge from the group, Faasos is concentrating on cost. For the investigation in Gurgaon, breakfast will be valued at Rs 75-100, while lunch and supper will cost between Rs 110-120. Its normal ticket measure is Rs 250-300, while HolaChef’s is Rs 300-310.
To grow every business you need some fund. Funding also helps to survive with competitors. So to Faasos also raised fund let look deep down their funding round:-
- 1st round of funding of $8 million from Sequoia
capitalin November 2011
- 2nd round of funding of $20 million from Lightbox Ventures and Sequoia Capital in February 2015
- 3rd round of funding of US$30 million from Russian Internet-focused Investment firm
ru-Net, Sequoia Capital and Lightbox Ventures in December 2015
Faasos Marketing Strategy:-
To grow your business you always need to work on marketing so that people know about your business and work on it. In Faasos case study marketing
I just want to describe the Importance of marketing in one line that
Doing business without
advertisementis like winning at a girl in the dark. you know what are you doing but nobody else does.
Online Discount Coupon:-
To survive and beat competition they regularly have coupons for special occasions or for certain days wherein they have 1+1 offers or certain % discounts.
It is very important marketing strategy for local business model in which you attract local people.
- Like by distributing Pamphlets and magazines which describe your business.
- Posters are stuck in the buildings where they serve and target local area wisely.
- Partnering with already popular restaurants helps their cause so they did not need much investment for local marketing and gain the trust of customers.
- Partner restaurants will have pamphlets available at the counter which the customers can take with them.
Cash on Delivery
India is having COD centric customer. Discount coupons made available on COD. Peoples also have trust
Faasos Elite is their loyalty programme to express gratitude, to delight power customers with prioritized delivery with the facility to pay once in 15 days and to surprise complimentary freebies and more.
Social Media Marketing:-
In online business, this also plays a vital role in your brand image. Faasos also active on social media to create their unique brand from the competition.
There are some words of Kallol Barman , Co-founder, Faasos.
We are choosing our marketing channels carefully as we are not interested in massive app downloads, which are inactive. We would rather invest in those channels where we get less app installs but more active users.
Future plans lead a company to grow with the exponential rate which helps them to achieve and think big. With future plans, they can make a strategy of capturing industry market.
- Now at present Faasos have 120 delivery centres and like its competition plans to expand to 200 in 10 cities.
- Faasos plans to expand on the entire Asia Pacific platform.
- Hopes revenue to touch $100 million in a couple of years.
At last we understand many things about Faasos Case Study Founder, Funding,Competitors and Business Model so if you have any query let me know in comment section.
Faasos is developing its supply chain in a way that the offering becomes a ‘personal kitchen on a mobile app’.
The food-tech segment is extensively open and Faasos stands a good chance of having a strong stay in the marketplace.