Team 7-Indiana Agriculture-Backyard

Team:

Allen Zheng- Web Developer, Ginger Alford- Web Developer, Lindsay Newell- Web Developer, Prajith Narendran- Business Analyst

Problem:

During Covid-19, a lowered availability of labor and other inputs, and reductions in output prices created lowered profitibility for farmers around the globe

Solution:

Backyard is a mobile application that gives a platform for the average gardener to post about their gardening skills while simultaneously giving the average small town farmer a place to sell their excess vegetable produce.

Market Size:

In 2020, the market for organic products had more than 15 times the value it did in 1997, jumping from 3.6 Billion in 1997 to 56.5 billion in 2020. Fruit and Vegatables make up 40% of all organic produce. Our Total Available Market would be 22.6 Billion. To average each vegatable's and fruit's loss rate, we can assume that 15% of all vegetables and fruits are lost due to overproduction, giving our Serviceable Addressable Market a value of 3.4 Billion. Given that our market share would be diminished by farmers who opt to donate overproduced food, and that not every farmer would join our app, our analysts have assumed that 1/20 or 5% of small farmers would join Backyard. Giving our Serviceable Obtainable market a value of 162 million dollars.

Competition:

Key Competitors in WildKale and farmer's markets. But these ways focus on selling produce in bulk or larger amounts. WildKale has a $30 minimum purchase along with a $5.99 shipping fee. Our app is focused on local farmers with smaller amounts of produce.

Business Model

Value Proposition: Having a vertical business model where we specialize in the selling and advertising of just fresh produce, gives us the ability to form a community that has a genuine passion for gardening and produce itself. Thus giving farmers a curated consumer segment of passionate gardeners willing to buy their produce

Channels: Mobile Website Mobile Application Desktop Website

Partners: Farmers Popular lifestyle bloggers Influential Chefs/Cooks

Revenue Streams: Listing Fee for Farmers 3.5% Commission on Sales Revenue from Farmers Advertisement fees from featured Farmers

Cost Structure: Website Maintenance Marketing and Customer Acquisition Expenses Employee Salaries

Marketing and Sales

Sales Strategies: Creating a seamless process for the farmer and consumer on the app to make purchases Creating a tier based system for Farmers on the application. Incentivizing gardeners to stay on the app with a like based system, the more likes one has, the better the picture is implied to be Marketing Strategies: Consumers/Gardeners- Influencer Marketing, Social Media Marketing Farmers- Specialized In-Store Marketing, Phone Marketing

Progress to date

July 2021- Basic Build of Website built

Future Milestones

Months 1-3: Secure 500 Monthly Users Bring on Marketing Advisors Build out MVP

Months 4-6: Secure 5000 Monthly Users Bring on Web Developers Have V1 75% Finished

Months 7-9: Secure 20000 Monthly Users Increase Marketing for Application Have V1 Finished

Built With

• react