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Weywo

Weywo

Team Members

  • Hongying Sun
  • Yunqi Gao
  • feng qian
  • li zhang

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A 24/7 unconventional vending technology aims for a better on-campus experience. Prepacked meals are ready to serve and suitable for different dietary requirements. Our mission is to provide convenient, healthy, fresh and delicious food for people in ACT.

The Idea

Our venture project is the hot meal vending machine, and we would like to place it around student accommodations, Murrays bus stations, and fitness centers.

We conducted a survey that involves interviewing 30 people. We divided the interviewees into two major groups. For the first group, we focused on people who have just finished their daily routine (work or study) and want to have a quick dinner. For the second group, our target customers are people who want to eat something at late night or early morning, when most restaurants are still closed. 

From our survey, we noticed that most people chose to eat fast food or order on Uber eats. Others just simply grab some snack in their near supermarkets.

Therefore, our project can help them to solve that problem of finding a place to eat during "off-hours", and the food provided in the machines is healthy and nutritious. Since it is a machine it does not include any delivery fees. 

The Market

We focus on two major types of customers, one was ' have dinner after work or class when they feel hungry and there have no food at home' and the other job was 'they want to eat something at such late night after finished fitness and there have no food at home as well'

When we proposed the way that there has a meal vending machine can provide food for 24 hours they looked looking forward to the machine. The meal vending machine not only can provide warm meals and dishes but also can provide fitness meal to help customers solve the problem.

The Competition

According to the survey, other competitors always think deeply and comprehensively about what customers demand.

Maybe we will add the option that provides 24 hours of coffee to the customers here. Because we found people here really like drink coffee and we want the meal vending machine to become localized.

The Vision

Our project is a vending machine for providing hot meals, and our target consumers are uni students. For the potential growth, we decide to put our machine in pop-up village in ANU, then expand to other hot places in ANU and other Collages in Canberra. Besides, we would like to place our machine in student accomodation and Murray’s bus station. Eventually, we would like to cover major areas with in the ACT.
The organisations we can reach are, ANU student administrators, UniLodge managers, restaurant managers in Canberra.
The other industry we are likely to expand is the food industry and we would like to develop our own restaurant and to produce personalised food to our consumers.

Mentor Pitch

Do you remember that one time when your tummy is rumbling but nothing around you is opened, either due to the time constraint or location constraint? People hate it when their wishes cannot be fulfilled when most needed, and this provides an opportunity for a prepacked meal vending machine business to thrive in Canberra. Canberra is a small city, so dining services cannot be provided anywhere due to profitability reasons. The vending machine could be the best solution because it has low or zero maintenance costs to operate.

The main targeted audience includes secondary and tertiary students, high-intensity workforce that have no time to cook or workforce that needs to stay up for extra work. For example, there are 60,833 students from ANU, UC and CIT, which is already a big potential customer base. But this machine can adapt to the general public very easily.

Our team has a strong finance background since three of our members are either in bachelor or master studies in finance. Apart from that, our team also has a marketing majored student who can help us with market research, strategic marketing planning and implementation.

We are looking for a mentor who understands the Canberra business environment fairly well. Secondly, we hope our mentor has logistic and supply chain knowledge of Australia too.

The Customer Experience

First of all, we use Instagram Facebook and other social media to reach our customers. Doing some advertisement on that social media to broadcast the meal vending machine. We expected to put our meal vending machine on campous to provide food for students. It is like 24/7 meal service. 

We will have a survey online and offline for the customers to investigate customers satisfaction. 

The Team

Our group members all have business background, with one doing marketing, two doing finance, and another doing actuarial studies. Thus it is easier for us to do marketing and research the pricing model. 

We already have connection with one meal vending machine supplier and we have done a survey with the potential customers. With our Chinese background, we can seek successful examples around China and adopt their good strategies.

Key Resources

Support from IACT would be our first and best resource. This includes mentors, workshops, other teams etc. We will also seek some successful start up business in Canberra and get advice from them. 

In terms of what we need to continue developing the venture, we have a list:

1. Cost/profit estimation knowledge 

2. Ability to set up business plan

3. Connection with food suppliers eg. restaurants/take aways

4. Registration process for food handling company

5. Experience in food industry or vending machine operations

Funding Sought

The cost structure of our venture contains three major parts. First of all, the vending machine itself costs approximately $10,000, this includes installation and maintenance advice. Operating costs mainly involve marketing, restaurant negotiation and transportation fees, another $10,000 is estimated to cover the operation. Rent on the other hand might be fairly cheap or even free at the trial stage once the team communicates and collaborate with ANUSA. So renting expense is not accounted for at this stage.

Our Partners

1. Partnerships with ANU Student Association (ANUSA) and PARSA will dramatically increase our sales and reputation within ANU. They can potentially provide the location in BKSS as well as marketing campaigns. Meanwhile, if we have unsold meals on the day, they can be given free to ANUSA as an endowment, then ANUSA can sell it to underprivileged students for a low price. 

2. Partnership with Unilodge Australia could help us with sales among campus residents. Unilodge in return will receive rent from Weywo.

3. Partnerships with various restaurants are essential to Weywo, they are our initial suppliers of products. Students then will be more exposed to the restaurants' name, it's an ideal marketing strategy for them.

Our Revenue Streams

1. Our prior customers are students and staffs within ANU Acton Campus, Weywo provides 24/7 meal service for them at various convenient locations.

2. Customers can pay using the credit card/debit card and potentially mobile phone, it will be a once-off transaction but we expect customers to visit the vending machine on a regular basis.

3. After many in-person interviews, the price ranges from $5 to $10. If its lower than $5, people generally wouldn't trust the quality of the food, and if its higher than $10, people tend to walk away.