Question: Im creating a business plan for my module. This is the business I ve come up with Freshly Halal is a subscription - based meal
Im creating a business plan for my module. This is the business Ive come up with Freshly Halal is a subscriptionbased meal kit service that sets itself apart by exclusively offering halalcertified ingredients, ensuring compliance with religious dietary requirements. Its unique selling point lies in the use of highquality, locally sourced ingredients from Londonbased halalcertified suppliers. The subscription model provides flexibility for customers to choose the number of meals per week, servings, and customise ingredients based on their preferences.
Freshly Halal is committed to minimizing food wastage by providing ingredients in precise proportions corresponding to the selected service plan. This approach not only aligns with the company's sustainability goals but also addresses a common issue associated with purchasing ingredients from stores, where excess amounts often lead to unnecessary wastage. By delivering precise quantities required for each meal, Freshly Halal ensures that customers have exactly what they need, eliminating the need for excess purchases and contributing to a more sustainable and efficient meal preparation process.
Freshly Halal is a subscriptionbased meal kit service that sets itself apart by exclusively offering halalcertified ingredients, ensuring compliance with religious dietary requirements. Its unique selling point lies in the use of highquality, locally sourced ingredients from Londonbased halalcertified suppliers. The subscription model provides flexibility for customers to choose the number of meals per week, servings, and customise ingredients based on their preferences.
Freshly Halal is committed to minimizing food wastage by providing ingredients in precise proportions corresponding to the selected service plan. This approach not only aligns with the company's sustainability goals but also addresses a common issue associated with purchasing ingredients from stores, where excess amounts often lead to unnecessary wastage. By delivering precise quantities required for each meal, Freshly Halal ensures that customers have exactly what they need, eliminating the need for excess purchases and contributing to a more sustainable and efficient meal preparation process. I need to work out the TAM, SAM AND SOM for this business. The idea is that I am targeting muslims age years as they are known to be the demographic who are meal kit users. This is all the information I currently have about itThe Total Addressable Market TAM is the total amount of sales that Freshly Halal could make if it was the only company in the market. The size of the UK mealkit market amounts to billion in Statista
The Serviceable Addressable Market SAM for Freshly Halal is meticulously defined based on key insights derived from the UK's Muslim population and prevailing market trends. In the UK the age range of to stands out as the segment with the largest share of meal kit users Statista This critical finding underscores the significance of focusing on this demographic. With a total Muslim population of million in the UK our business model strategically targets a specific segment: individuals aged to years, constituting of the Muslim population ONS Consequently, our SAM is calculated as Muslims aged to representing the portion of the overall Muslim population that aligns with Freshly Halals current business model. But I dont know how to do the TAM, SAM AND SOM correctly for my business plan. Please can you work this out for me i also want thwe SOM to target people in london. am i looking at the right statistics for the TAM, SAM AND SOM. please do the detailed market research for me thank you.
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