TasteControl – New Word In The Food Chain Insurance
TasteControl will ensure the traceability of food and ingredients to the place of origin including production information at every point of sale or at home throughout Europe. TasteControl will allow a direct access to all batch-relevant data at the point of sale and enable a tight network of final production and suppliers to the benefit of consumers, for conscious nutrition and purchasing, through more transparency and more product knowledge.
There are two industry aspects vital to review for TasteControl. The first is food industry. The start-up will be regulated according to two main legislative documents – Food traceability EU regulation 178/02 and Food labeling LMIV, EU regulation 1169/2011. The second is feed industry. The law on food traceability also addresses the feed industry and the same requirements apply. In parallel to the marketing measures for the food producers, the associations (for example, the German Association of Animal Nutrition) will be joined by the members.
TasteControl is unique and competition-free (unrivaled). With TasteControl, anyone interested in the QR code can directly access product information and checkers on all batch-relevant data, precisely where the product is at the time of the inspection. The online portal of TasteControl will combine the following presentation possibilities for the product such as the consumer side, the market square, the online shop, and the network connections (who delivers what?).
The key to successful market penetration is a high level of recognition. A high degree of recognition can only be achieved in the short term only with measures coordinated in terms of content and time. Measures will include negotiation with association bodies of the food industry, print media, radio, TV, specialist committees, Internet, presentations and lectures on events, such as trade fairs, conferences.
3 Year Income Statement
Net Operating Income
The growth is determined by the increasing number of TasteControl’s customers in Europe. The tax rate is assumed to make up 22% as the EU-average (KPMG, 2016).
Proposed Funding Schedule
The invested capital is intended to strengthen the existing equity base and serves as the basis for the financing of faster growth.
Employees (Marketing / Sales / Organization):
Office (contact point + support)
Advertising (Social Media / Ads / SEO):
Certificates (data protection and security):
Total capital requirement:
The capital requirement is required for a period of at least 6 months. However, more acquisitions are being made during this period so that a substantial portion of the fixed costs can be covered with sales after 6 months. In particular, marketing investments will take up a large part of the capacities in the initial phase.
After 3 years, having excessive cash amount, TasteControl’s will be expanded to the Chinese market, as China offers potential players cheap and easy credits, strong legal rights defense and affordable labour. Such factors should be taken into account: where to expand? which mix of store ownership to choose? when is the right time for implementing …