HANDPICKED
Brand Strategy
Client:
Student Project at ArtCenter
Handpicked is a vibrant and innovative farmers market located at LAX Airport's arrival gates, offering travelers and locals alike a taste of California's rich agricultural heritage. From freshly squeezed juices to handpicked fruits and snacks, every product is thoughtfully curated to deliver a burst of freshness and vitality.
Problem:
Solution:
Target Audience:
Brand Matrix:
Value Proposition Canvas:
Market Size:
Business Revenue:
Investment:
PHASE I:
Infrastructure Enhancement
Vendor Acquisition
Licensing and Permits
To give an overview of the business, the total cost of investment is 1.23M$ which is divided into Marketing, Rent, Material costs, Salaries, Packaging, and Technology.
Travelers arriving at LAX Airport often face limited food options, especially those seeking fresh and healthy alternatives. Traditional airport dining establishments typically offer processed snacks and fast food, leaving travelers craving for a more wholesome and authentic experience.
Handpicked provides a solution by offering a vibrant farmers market experience right at the arrival gates of LAX Airport. By sourcing the freshest, locally grown produce and artisanal goods, Handpicked addresses the need for convenient access to fresh and nutritious food options. Travelers can now indulge in a variety of farm-fresh juices, fruits, and snacks, providing a refreshing and healthy alternative to traditional airport dining.
Background:
Shreya is a vibrant 25-year-old student from Mumbai, pursuing her Masters in Graphic Design at ArtCenter in Pasadena.
Travel Patterns:
Shreya frequently travels between Mumbai and Los Angeles due to her studies. The long flights often leave her feeling exhausted, and she faces the challenge of finding fresh and satisfying food options upon her arrival at LAX.
Goals:
Immediate Satisfaction: Shreya’s immediate goal is to find a satisfying meal at the airport, avoiding the feeling of hunger until she reaches home.
Discover Local Gems:
She hopes to discover local, authentic and healthy food options that go beyond the typical airport fare.
Challenges:
The current options at the airport, especially the coffee shop with limited food choices, do not align with Shreya’s preferences. As someone who appreciates fresh and flavorful cuisines, she finds herself starved after the flight, eager for a convenient and wholesome food option.
Business Model Canvas:
USA airports are a big market with over $150B in food sales per annum. In comparison, Farmer’s Markets are a $2B business that are rapidly growing. Of the 1 billion travelers at USA airports per annum, if we can attract 1% of them to our store, we can have a yearly customer base of 10M. With an average spend of $10 per customer, we are looking at a $100M per year revenue for this segment.
We are therefore starting by setting up a Farmer’s Market at LAX with plans to expand to over 20 airports in the USA, each offering customers a delightful taste of fresh local produce. We estimate a revenue of around $2M for the first year of business.
Total Revenue:
In our first year, we estimate around 10-15 customers per hour for each category, with groceries having the highest revenue of $25 per customer and the other two categories around $10.
Together, they add up to $1.74M in revenue with Groceries contributing over 60%, with the other two almost evenly split.
The net profit from this first year will then come out to a little over one third of a million dollars ($331,223)
Infrastructure Development and Vendor Acquisition
We are seeking $500,000 in funding to launch Handpicked at LAX Airport, covering startup costs, marketing efforts, and initial operations. This investment will enable us to establish a strong presence and capture market share in this lucrative space.
PHASE II:
Marketing and Promotion
Brand Awareness Campaigns
In-Airport Promotion
Partnerships and Collaborations
PHASE III:
Customer Experience Enhancement
Technology Integration
Customer Engagement Events
Feedback Mechanisms
