CREATE BEAUTIFUL BOARDS IN 3 STEPS
WHAT IS CHARCUTERIE STITCH?
Charcuterie boards have never been more in – but why is it so hard to attain the desired aesthetic for your gathering? Charcuterie Stitch is an app designed for those seeking to make beautiful boards for entertaining but not knowing where to start. Our app not only measures the dimensions of users’ boards at home, but offers numerous templates to use, suggestions on what meat and cheese pairings will work nicely and directs our consumers to markets and grocers near you to purchase your supplies. Feeling creative? Users can browse other boards having used a similar template to gather more inspiration and post their boards to our interactive feed.
CHOOSE A TEMPLATE
The environment for a charcuterie board app has never been timelier. Having been around since the15th century, charcuterie has never been more relevant. The act of making beautiful boards for entertaining kick started during the 2019 Holiday Season, according to That Cheese Plate founder Melissa Mullen. Mullen runs an Instagram account with over 260,000 followers and created the “cheese by numbers” technique. Mullen’s following only increased throughout the COVID-19 global pandemic as she coined the art of making cheese boards as an act of “self-care.” She released her recipe book, That Cheese Plate Will Change Your Life, in May of 2020 with a similar tagline on self-care. The emergence of new technologies such as Google’s Measure app (2018) and an enhanced used of social media and the TikTok app (2016) has made Charcuterie Stich an even greater potential success. The Measure app uses augmented reality to measure the dimensions of objects using a smartphone camera, a technology that is replicated in the Charcuterie Stitch app to measure the length and height of users’ boards at home. According to food history professor Ken Albala, “the mass appeal of charcuterie on social media coincides with the rise of crafting and foodie cultures, paired with an inherently aesthetically pleasing nature. For hundreds of years people have been doing cheese boards and charcuterie, but I think it has been part of the rise of the interest in do-it-yourself artisanal craft food.” The emergence of TikTok, and more specifically food TikTok,has allowed for the everyday social media user to experience fame from the ritual of making food in his or her own home. Maggie Johnson (@magsmeals) gained over 175,000 followers in 3 months after she posted a TikTok video of herself creating a cheese board with baked goods from her work. The desire to create something tangible with local and luxury goods, attaining not only a beautiful and delicious product but one that can be shared, is a desire imbued in our current society. Charcuterie Stitch is an app designed to advance the current technological and societal trends in order to attract an engaged following of cheese-lovers.
Charcuterie Stitch is a cheese and meat board app for aspiring entertainers seeking an easy and personalized way to create beautiful boards and share with a community of cheese lovers.
Millennials and Generation Z, female, college educated
Adventurous, cultured, outgoing, achievement-oriented, inclusive
Spending time with friends, traveling, trying new foods, taking pictures, art and culture
Career-related achievement, community involvement, traveling, gaining new experiences
THAT CHEESE PLATE
Direct Competitor. Marissa Mullen is founder of That Cheese Plate, the Cheese By Numbers method, and author of the recipe book "That Cheese Plate Will Change Your Life." Charcuterie Stitch has a competitive advantage over That Cheese Plate because:
- The app is digital, offers user interaction on the app and with other social media apps to promote engagement
- Offers the ability to scan users' boards at home
- Not only offers pictures, but interactive step-by-step layout instructions
- Offers the opportunity to buy supplies from local vendors
CHEESE PLATE APP
Direct Competitor. Janet Fletcher is founder of The Cheese Plate App. This app offers 25 themed cheese platters, info on 150+ cheeses, is searchable to learn about cheese from different regions and details pictures and descriptions for composing platters. Charcuterie Stitch has a competitive advantage over the Cheese Plate App because:
- The app personalizes charcuterie board creations for individual users
- Offers an in-app interactive sharing platform
- Is offered in all countries (Cheese Plate app only offered in UK)
Indirect Competitor. Online grocery pickup and delivery service, customizable to your region. Offers services from national supermarkets to local gourmet stores in your area. Charcuterie Stitch has a competitive advantage over InstaCart because:
- In-app prices are consistent with the in-store prices where the supplies are sourced from
- In-app purchases are specialized towards a specific recipe/board creation, allowing local grocers to compile unique board creations from their freshest in-store selections
OUR BUSINESS MODEL
Total Addressable Market = $8.11 million
Equally popular public figure in the hospitality and entertaining industry, Joanna Gaines' “Magnolia Table,” sells at $16.59 on Amazon and sold 676,000 copies in the first year. Due to Charcuterie Stitch's ease of use and interactive platform, I predict that app sales will be double that of "Magnolia Table." As "That Cheese Plate Will Change Your Life" recipe book was only recently published in May of 2020, there is not enough data to relate book sales to potential Charcuterie Stitch app sales. If we are to assume "That Cheese Plate Will Change Your Life" recipe book will sell a similar amount to "Magnolia Table" in its first year on press and that each individual who purchased the recipe book would have just as equally purchased an app less than half its price at $6, I predict $8.11 million as the Total Addressable Market for Charcuterie Stitch.
ANNUAL CASH FLOW TEMPLATE 2021
In terms of funding, Charcuterie Stitch will require $100,000 in additional investment from either angel investors or venture capitalists.
Assuming the Charcuterie Stitch website receives 1,000 ad clicks per day, $15 in revenue will be generated per day to total $5,400 in advertising sales.
App subscription revenue will total to $143,760 in the first year assuming there will be about 2,000 customers buying the app at a price of $5.99.
App development will be $84,700, website development will total $19,000, and the cost of a website server will be $119 per month as predicted from the app and website development calculator. App development will cost significantly more because of the in-app social interaction platform, engagement with other social media outlets, and dimension measurement technology. The website will only consist as a platform to promote the purchase of the app.
Advertising for Charcuterie Stitch will cost about $100,000 in total for the first year, as the average cost of Google Campaigns for small businesses is $10,000 per month.
In terms of salary and other fees, the average yearly salary for startup owners who raised less than $500,000 is $35,529, and utilizing 2 co-workers, the annual total of all salaries will be $96,000. Additional fees will total to $1,000 as small businesses pay an average of $1,000 per year for accounting admin costs, internal expenses, and legal fees.
Meredith is a young professional living in the thriving Southern metropolis of Atlanta, GA working as a full-time sales associate for PepsiCo. Because she works long hours during the week, she constantly looks forward to the weekends as her outlet of fun. A social butterfly, Meredith is always seeking new activities for old friends and any opportunity to meet a new face. Meredith is a loyal and exciting - the type to pick you up when you’re down or show up with a bag full of party tricks on a girls’ weekend away. Meredith prioritizes quality time with her loved ones over everything.
Finances: Grew up in a working middle-class family in Gainesville, GA, starting salary of $50,000, prefers to spend her money on experiences or activities with friends.
Online Behavior: Active on Instagram, TikTok and Snapchat. Updates her Facebook with monthly updates. Uses Pinterest when she is looking for specific recipes or other sources of inspiration.
Frustrations: Not naturally artistic or creative, finding an inexpensive activity for all of her friends to come together, cooking new recipes.