What is a Food Truck Business? How to Develop a Food Truck Business Plan?

Food Truck Business Plan

“Food truck business” Don’t know what is a food truck business is? Or you did hear of it but don’t know how the plan goes on when it comes to

“Food Truck Business” well we are here to explain to you what is food truck business and what is the business plan you need to follow to run start and run it successfully.

What is a food truck business?

A food truck business includes a large size automobile like a van or trailer, equipped with a small modernized kitchen to cook, prepare and serve food. 

usually preferred by small owners or any famous restaurants to serve food in other localities as well. 

Some food trucks sell ice creams and desserts some sell frozen or pre packed food; others have on-board kitchens and prepare food on customer requirements. you can see food trucks usually in construction sites,near to any corporate company and busy streets, parks where people usually hang out.

The food truck business provides an option for the on-the-go person to grab a quick bite at a reasonable price. 

Nowadays the craze of fast food is rapidly increasing so as food truck businesses and also some food truck owners earn a good amount of money out of this. 

In food trucks the advantage of mobility provides owners access to multiple locations at an initial capital that’s less than that required in opening a restaurant of the other format, this is why small all restaurant owners are looking to invest in a Food Truck instead of an individual stationary restaurant. 

So if you are looking for a food servicing business but do not have enough money to invest in a restaurant business then you should go with a food truck business. 

Food truck business or a restaurant on wheels has been an on-trend concept in India and all over the world, among entrepreneurs and consumers alike.

How to develop a food truck business plan?

Now as we have understood what food truck business is. Let’s know how to do business planning for a food truck business?

It’s natural to have hesitation while starting any kind of business which is why we will help you to learn how you can create a food truck business plan here.

Table of content-

  • A right choice to select food truck and location
  • Analysis competition and Creating the brand
  • Kitchen equipment and others
  • Requirements of manpower
  • Raw materials and food hygiene
  • Creating an online presence for your food truck business
  • Marketing your food truck business
  • Conclusion

Let’s go through some points which will guide you the way to develop a business plan:

A right choice to select food truck and location:

The first thing is to select the right food truck and location where you will have to sell your food. choosing a food truck is depend on the type of food you plan to serve, you need a commercial vehicle which is at least a decent size of 18 to 20 feet of length this will cost roughly around 7 to 8 lakhs.

Hey wait !

Don’t worry if you are a little tight in the budget you can buy an old commercial vehicle with right paper works which will cost almost half of the new once also you will have extra money left for designing the vehicle according to the need.

Choosing the right location is important you should choose a street which should be near to a construction site, park, busy street also you have to analysis the food street where less number of food vendors sell the same kind of food. 

Also the location should have a regular flow of traffic to invite people to have a quick bite.

The street should have good parking space for the food truck also it shouldn’t be creating any hazel to commuters. There should be enough space for customers to have the food and enjoy it.

Analysis competition and Creating the brand:

There is good competition in the food business market so building a strong brand presence is important your brand should connect customers with a unique story.

Analyze the competitors business how they are doing in this business Everything you can dig up about your competition will be useful when you go about building your brand.

Creating a brand presence includes naming of the food truck, the logo and the theme of the food truck this will connect with customers it is important for branding It will show up on all your designs, on your food truck, on your banners and promotions and all your social media platforms.

 Make sure it speaks to your brand.

Kitchen equipment and others :

It depends on the type of food you are planning to serve still on an average you will have to invest a roughly around 2 to 2.5 lakhs which includes Microwave, refrigerators, griller, steamer, working tables, one burner, exhaust equipment, generator or big batteries with an inverter and other things that are needed in the business. 

It is good if you are going for new kitchen equipment because as it is mostly electronic items you will not be having issues of servicing it as it will be having a fixed time warranty which will cover all the necessary maintenance costs.

If you are a little tight in the budget for your food truck business you can go for old equipment which is in good condition if you can get a good deal out of it this can save you a good amount of money and also you will have some extra money for other essential items needed in your food truck.

Requirements of Manpower:

In this food truck business, you need to have a very good chef to cook food according to the type of foodservice your business is providing. you need at least 2 chefs to start with so that food can be delivered on time and customers shouldn’t have to wait for food getting ready.

In India you can get some good chefs which will cost you anywhere from 13 to 15k monthly also with a helper who can take care of the operation of your food truck business. 

If you are planning for delivery services then you can hire a person who knows well the location and he can help you to procure raw materials in needy time.

A delivery boy will easily take a salary from 10k to 12k monthly. Also if you want to create your brand presence in the food truck business you need to have a good team from cooking to delivering because in the end customer satisfaction is the main goal.

All the staff should have a unique dress code that helps in the brand presence and also will gain trust among your customers in the food truck business.

Raw materials and food hygiene:

You need to have the right amount of raw materials so that you do not need to hurry up and bring raw materials, it is advisable to stock the raw materials enough for 5 to 7 days in the preservative so that it would get damaged and make a loss in food truck owner’s pocket. 

Then comes down to hygiene of the food truck, the food truck business operates at a small space where both cooking and selling food operates. so it is necessary to maintain a clean kitchen and also good waste food management all the materials used in cooking should be of good quality so that customers will feel good and they will be coming again and again to your food truck. also, your staff should be well dressed and cleaned and maintains good sanitation.

Creating an online presence for your food truck business (website/software/social media):

Nowadays having an online presence helps the business a lot, thanks to the free internet everyone is into their laptops and mobiles. so you should also invest in creating

websites or software depending on your budget so that people can know about your food truck business and also go through the menu.

Almost every food truck business has its website/ software where they get connected to their customers anytime and anywhere, so you need your online portal should be user-friendly and easy to understand by a layman. they should feel easy to place an order. 

Investing in the software will cost more than just a website. so at first invest in the website then as per your online popularity, you can invest in software.

If you do not have enough money for the website too then you can create a social media page and start inviting customers who like street food with some offers at first this will drive your customer and if they like your food they will suggest your food truck business with their surroundings.

Marketing your food truck business:

It’s too difficult to survive or maintain your food truck business without marketing, here are some of the marketing techniques you can have to market your food business:
1. Social Media (Optimization/Marketing): After you have created a social media page for your food truck business you need to maintain the page by adding a post of latest foods you are having on the menu and be active on the social media page and keep      posting at least 5 times a week to keep your new customers stick with you and visit your food truck.

2. Placing ads in social media for your food truck business so that it will drive a good amount of customers into your business and it is not much investment. you can show ads to the one who is interested in street foods and food truck business this will surely be a good return of investment for your food truck.

3. Search Engine (Optimization/ marketing): After you create a website you can optimize it with some of the shortlisted keywords about your niche and create 

content so that you will be available on the first page of google in the optimization of the website you will have to optimize your website properly so that it will mobile friendly and customers would not have issues surfing on mobile or any other devices.

you can also place ads in the google search engine when the customer types your niche keyword it will appear in the first page of Google so that customers could find you this will create online orders and brand awareness. you can target a certain audience who will be interested in your niche market. 

This comes under digital marketing and you can hire a guy who knows this marketing and this will generate you a good amount of sales and cover-up all your investment within a few months of starting a food truck business.


These are some of the steps you should take in starting of the food truck business, also you have to do a  Licenses & Permits Required For Starting a Food Truck Business

which will cost you around 50k to 80k.

In India, the investment for a food truck business will cost you around 8 to 10 lakh but the good thing is the overall operation cost is less than a small restaurant in the long run and also a normal food truck business can earn anywhere between 8k to 15k daily depending on how are you service satisfy your customers. 

Also, you can grab opportunities like any events, catering, and occasional opportunities you can have a good amount of sales in a day also you can generate branding for your

food truck business.

Food truck business is in a hot trend right now and doesn’t show any sign of slowing down. if you are planning to open a restaurant business but don’t have enough

money and time to invest in a food truck business is a good option.  

10 Business Ideas for Women at Home

10 Business ideas for women at home

Here are 10 Business ideas for women which they can start from home with the least investment in fact some businesses they can start without investment even.

By this we want to support these women who really want to do something in their life but they are not able to do because of some family problems or some other problems they cannot go outside of the home.

But after getting knowledge about these business ideas they will be able to choose something to do from home only and they will be able to earn money too and most importantly they will get happiness after becoming financially independent.

So here are those all 10 business ideas.

1. Yoga Instructor

In today’s era everyone wants to look good and wants to be fit by body so if you will become a yoga instructor then that will become very beneficial business for you.

You can become a yoga instructor after completing 1 to 3 month course from any certified center of yoga and then you can start your own yoga center from your home. 

For this you can charge a good amount and everyone would like to pay you because by this they will get a good health and good health will give them good heart and mind.

As we have been listening from years that “A healthy mind resides in a healthy body“.

2. Dance Classes

As we all know that we are living in India and India is the country of culture and festivals so we love to do dance on all occasions of our life especially in marriages. 

And everyone would like to spend money in marriages and dance is an important part of marriage, in all the ceremony of marriage we people do dance like haldi, mehandi, ladies sangeet and many more. 

So you can start dance classes at home and for this business you will not have to do any kind of investment, you need only sound system which usually we have at home. 

In this business you can earn a lot of money by having bookings of sangeet function of marriage parties, retirement parties, annual functions of schools and many more occasions. 

And you can take all classes at your home only.

3. Blogging

Blogging is one of the best business ideas by this you can elaborate your thoughts on any topic and can earn easily because it is all about your thoughts which you can deliver to people by blogging. Your thoughts can give answers to many people about their questions and they will feel better after getting answers to their questions by your blog and obviously by your thoughts. It’s quite a good job especially for women who cannot go outside their home.  Women will enjoy blogging as a business & also will have the advantages of staying at home and will be able to give proper nourishment to their kids at the same time. Blogging is one of my favorite forms of passive income. 

4 . Handmade gift items business (Crafter) 

If you are having interest in making handmade gift items then you can start a business of that first you can start by self and when you get little success in this profession then you can hire someone as an assistance of yours.

In today’s generation everyone would like to gift handmade items such as: 

Handmade cards, scrapbooks, mixed media layouts and many more things. 

And you can take classes for that you can organize workshops too.

You can canvass your work by making page on Facebook, Instagram, and many more social sites, you can sell your products by Flipkart, Amazon etc.

You can make YouTube channel to canvass your creativity and can also take online classes. There are many options to canvass your work and by this you can earn a good amount every month by living at home only.

5. Jewellery  making

This is also a very good business idea which you can start from home you can buy jewellery in bulk from wholesalers, for getting knowledge about wholesalers of jewellery you can take the help of Google and especially Youtube.

Now a days oxidized jewellery is in trend people are liking it very much so you can start this business you can buy material in bulk from Delhi, Calcutta, Mumbai, Ahmedabad these cities will be much better for this type of material.

You can make whatsapp group for selling your products on social media too.

You can sell flowers jewellery also it is also in trend in marriage functions and baby shower functions too.

In this business you have to invest little time of yours and you can earn more.

6. Cooking classes 

It is also a very good profession for ladies if you are having interest in making delicious food and you like to try new dishes then you should start cooking classes at your home and you can teach many people how to make delicious food and different types of dishes.

For this you can use your kitchen at home by this you will not have to do any other investment and you can charge a good amount for teaching.

You can make your own YouTube channel of cooking if people will like your way to teach online then they will surely subscribe your channel and by this you can earn and canvass your interest also.

7. Tiffin center

If you are having interest in making delicious food and you don’t want to start cooking classes then you can start tiffin center by this you can earn a good amount every day or month.

In today’s era many people are compelled to live outside of their cities because of their jobs and studies, so at that time they don’t have time to make food so they like to take food from any tiffin center.

And if they will like your food then they will become your regular customers and that will give you confidence.

You can sell your food online too by registering on Zomato and Swiggy apps.

It will give you a good publicity to canvass your business.

8. Boutique

It is a very nice business to people who likes to make new clothes and design new clothes, they can start a boutique from home for this they need to have sewing machine at home that usually we have at home so we can start from this only we don’t need any kind of big investment.

And if you get success in this business then you can hire some labor for sewing the clothes and then you can excel your work on big level.

You can participate in fashion weeks and you can organize exhibitions of your work that will give you a huge publicity and by this you can become a big entrepreneur.

9. Coaching Classes

If you are educated and like to give your knowledge to others and want to do something but don’t want to go outside of the home or can’t go outside of the home then this business is for you only.

You can start coaching center at your home for this first you will have to apply a flex of your classes outside of your home, by this people will notice and start enquiring and you can do mouth canvassing too. 

Now-a-days all people want to give a very good education to their kids for this they always find a good tutor for that so you can become that tutor who will give good education to their children.

By this you can earn and enhance your knowledge too.

10. YouTuber

If you are thinking that you have good thoughts about anything and you want to make people aware about that so you should start a YouTube channel for this and you should make good videos on that.

In this work you don’t need any kind of investment for this you need only one android phone with data, so you have to make videos and upload these videos on youtube and for being a good YouTuber you have to focus on your content which should be very specific and genuine which can relate to a layman.

By this you can attract many more people towards your videos and then only you will get more subscribers and watch time on your channel that will help you to enable your monetization policy of your YouTube channel.

Yes this business idea will surely take time to succeed but once you will succeed you will feel top of the world.

By this you will connect to many people and they will give you a satisfaction that you are doing something good for others.

So friends here we are completing our article on 10 business ideas for women’s at home so if you can relate yourself to any one business idea from all of these then do start what you want to do and do earn feel independent and happy from your inner Saul. 

We want to say only one thing by this article that all people wants to get money and want to do something too but they don’t start because of laziness of something else but if anyone has a little interest in something then they should give a try at least, weather they don’t have enough time but they can start by giving little time and when you will start to earn by self then we are sure you will do that on a regular basis.

And one day you will surely get a big success of your hard work, and that will happen only when you will start something.

If you are planning to start a business then please read our this post – How to make a business plan ?

What is Social Entrepreneurship – 10 Steps to Become a Social Entrepreneur

What is Social Entrepreneurship ?

Social entrepreneurship is a process , By which Innovative Initiatives are taken by the start -up , entrepreneurs , companies to solve social problems , such as poverty ,illness, illiteracy ,environmental destruction ,human rights abuses and corruption , in order to make life better for many. main objective of profit based entrepreneurs are to generate revenue and profit gain , whereas social entrepreneurs are cause driven with entrepreneurial mindset . social entrepreneurs keep long – term road map for their social goal , they practice hybrid model that uses business solutions to make an impact on the world.

How to become a social entrepreneur ?

social entrepreneurs create innovative solutions to tackle social problems .these entrepreneurs maximize social value instead of profit , they place social mission to the center of their business activities . they are so passionate about making a difference.
to succeed as a social entrepreneur , you need to have great purpose driven business idea . you need to have a clear road map for your journey .

Here are ten practical , actionable steps to become a successful social entrepreneur .

  1. Developing the skills
  2. Identify the problem and research the field
  3. Aim to run things like business
  4. Make a team for support and feedback
  5. Develop your business model
  6. Initial investment funding
  7. Brand your enterprise
  8. Use information technology
  9. Be transparent with consumers
  10. Remember your mission

1. Developing the skills

  • grabbing opportunities to develop your social intelligence : any experience you can get that build social intelligence will help you in your journey . look for those internship or fellowship programs who give you opportunity to work on ground level , on grass root level you will get to interact with people , you will get to know the real problems of people .

  • expand your creativity : social entrepreneurs have to be creative. try to find innovative ways to function charities and non profits to maximize donations and implement action .

  • gain leadership experience: leadership is the key for any position of entrepreneur . try to find opportunities where you could lead. 

2. Identify a problem & Research the field

  • start by deciding precisely who you want to serve and exactly where and how you want to serve . be clear about the problem which you would like to solve .figure out where to focus your energy , think about what is important for you , there are many issues in the world , such as poverty , pollution , that need to be addressed, you must not start solving any problem , which you read , heard somewhere, you must not have preconceived ideas , firstly you have to go on grass -root level ,you have to live that problem , try to interact with victims , those who have been facing problems.

  • for example , when social entrepreneur muhammad yunus had started lending to poor people , firstly he had lived with poor people , he had tried to find the real cause of poverty , then he realized that poor people are compelled to borrow money from ” loan sharks” , then he had founded “grameen bank ” which lend to poor people without guarantee ,without collateral.

  • so try to identify problem and after doing research on it and figure -out the cause of it.

3. Aim to run things like business

  • your business is not charity , it has to recover its full costs while achieving its social objective , when you are running a business , you think differently and work differently than when you are running a charity .you don’t have to rely on charitable donations ,foundation grants or government support to implement programs.

  • Social entrepreneur muhammad yunus says “a social business is designed and operated as a business enterprise with products ,services ,customers , markets ,expenses and revenues but with the profit -maximization principle replaced by the social -benefit principle ,the social business seeks to achieve a social objective”.

4.Make a team for support and feedback

  • you need to understand that you can not achieve your social goal alone , you must have dedicated team , look to people already in your life and career who you consider to be trusted , they may be some of the competitors and collaborates you came across when researching the field or they could be like minded souls who want to make a difference, too.

remember that your team members likely have good intentions and want to see you succeed.

5.Develop your business model

  • how your enterprise is going to make money , your business model will be the roadmap of it . you need to decide how far you want your services and products to reach . if you want to expand to make big impact , decide exactly how much money you need for your enterprise to support your mission .

  • your business model must be like that ,any profit it earns does not go to those who invest in it, your business might be defined as a non loss, non-dividend business , rather than being passed on to investors ,the surplus generated by the enterprise is reinvested in the enterprise.

6. Initial investment or funding

  • initially , to get funding is hard nut to crack , you will have to decide that you would take loan or invest your savings or get money by crowdfunding but after sometime when you would be creating more social benefits for poor people in early stage then why would investors not put their money into your enterprise ?

  • first , people will invest because of personal satisfaction they would get from philanthropy. the many billions of dollars that people around the world donate in charity ,it means they are having hunger to donate money so why they would not invest in your enterprise which is working for more and more social benefits of people.
  • second , investors in a social business get their money back , they can reinvest in the same or a different enterprise.

7. Brand your enterprise

you are running a social enterprise but branding of it is very important . profit based companies work very hard on establishing a brand to get consumers attention , so you will have to do branding and make ensure to people, how can you differentiate yourself from other charities ? what makes your cause unique ?

  • you will have to reach to people if you really want expansion of your enterprise. you will have to create emotional connections with consumers use things like videos and images.

8. Use information technology

  • there are many brilliant ,idealistic people in the world who would like to devote their time, energy and talent to finding ways of using information technology to fulfill your enterprise social objective.

  • to get funding , hiring of people , marketing of enterprise, you can find people and organizations to causes similar to yours , in many works you can take advantage of technology.

9. Be transparent with consumers

if investors know exactly where their money is going , operate from a place of honesty and transparency . this will help you gain more support .tell people all about your cause , have a section on your website highlights your belief and what you are trying to accomplish, share specific statistics and milestones .

10. Remember your mission

becoming any kind of entrepreneur can be stressful at times , you may have some bad days and there will be failures along the way , if you feel lost , remember your cause , recall why you got involved to begin with , remembering your cause will help you stay on track.

Restaurant Business Plan – Do’s and Don’ts

Restaurant Business Plan

Are you set for opening your restaurant? Is this the plan you had a long time back but 

could not implement it because you were afraid of risking your money and time into it?

Well now, this might be the right time to sit down and draw up an idea to open your own restaurant business.

Don’t worry, we are here to assist you to produce the right direction for achievement and grow your restaurant business without worrying about the risk factor.

No doubt it is a tough business which will consume much time and money but That’s Where we will guide you with a modernized restaurant 

business planning helps and makes your business a successful run in this restaurant market.

To know more about business planning you should read our this article- how to make a business plan ?

First lets know what are the drawbacks in failure of some restaurant business.

Hey, wait! We do not want you to discourage you or any aspiring restaurateurs out there, or to lower the morale of the Present ones,  however, we tend to believe that “An ounce of prevention is worth a pound of cure”.

So let’s go through it first:

Poor location planning and rent:

 Location is the key factor before you set-up your restaurant business

some restaurateur spend a lot in renting for the location inside the busy locality and end of being in loss because of high rent.

it is important not to overspend. Often good locations come at a high price, and restaurants are not able to cover their costs.

If Also they get the right location they fail to find their right audience also analysis the location properly before setting up your restaurant business.

Inexperience of owner:

Well it is said that anyone with financial support and time can open a restaurant business but it is very important for the owner to have

The right planning and idea for the restaurant business. lack of inexperience leads to failure in business.

Staff management problems: 

Untrained Staffs and thefts can lead the restaurant business down within some time.

Many restaurants fail because of poor staff management this will harm your business and be the major reason for failure because it’s all about customer satisfaction at the end.

Poor menu structure:

Some restaurants have a complicated menu which is not structured well and creates confusion in the customer’s mind and dissatisfaction of customers leads to a loss in business.

No involvement of the owner:

Often restaurateur does not have experience in this business market and end of depending on the manager of restaurants. they only think

investing money is enough for the long successful run for business, but this also leads to the breakdown of the business.

Lack of analyzing:

The main thing restaurant fails because of lack of analysis of the market which dish isn’t doing well to exclude those and to bring a new dish which will be liked by the customers and in trend dishes.

Also, it is the responsibility of the higher management to identify the loss of business and bring on solutions to sustain in restaurant business market.

At last, the main thing in today’s world is the marketing of your business to the right audiences.

All the things are done great location, well known trained staff, good menu structure but still, restaurants fail…. Why?

Well they forget the power of marketing in today’s generation. your business won’t make an impact in the restaurant market if it is not marketed properly in both online and offline.

So Now hopefully you understood Why some restaurant fails.

Now keeping this in mind let us guide you the business plan you should have before and after 

Market Analysis:

Before establishing your restaurant it is important to make the market research of what customer likes to have, What should be the proper location for your restaurant business 

what is the trend dishes for restaurant business all the reports from some successful and failed restaurant business 

and then have a conversation with the expert to make this business plan a success.

Branding of your Restaurant:

From the information of reports you can have a clear idea of how to step ahead in the process. It is important to make a presentation of your restaurant brand by introducing your goals some unique selling points of your restaurant your right ambiance of restaurants etc. 

In this stage, you have to also invest your time and money in marketing your restaurant business.

Proper Menu Structure:

Your Menu is the important element of your restaurant business a well-structured menu will drive customers and your customer won’t be confused

also, your menu design should be eye-catching and it would be great if the design matches the theme and ambiance of the restaurant then it will be very good for your business.

This means you are focused on every detail of the restaurant. the menu should contain every information of the dish in a summarized way so that customer should have an idea 

what he is ordering.

Staff Hiring:

It is important to hire a well-experienced staff in your restaurant business because these will be the people who will be interacting with the customer.

Customer Satisfaction should be the main goal of any kind of restaurant business. 

Restaurant design and ambiance:

The design of the restaurant will be the key attraction for the customers to drive them into your restaurant. Here you can show the customer

the creativity and thoughts you put in-to the restaurant mainly here you are showing the concept of the restaurant.

Right Location:

As we discussed before that location also plays a vital part in a successful restaurant business, it’s important that your targeted audience can come to your restaurant without facing any difficulty also analyze the location before setting up the restaurant business. 

Regular Audit:

This should be happening more often to analyze whether the restaurant is making profits or not and what steps should be taken to improves it, also 

analyze which dish is not selling and remove that dish which something new which will be liked by customers.

Marketing to and for:

Well Marketing your restaurant business to and fro is important so that to make customers know that your restaurant keeps on updating new dishes,

new offers, some festive offers, etc. It’s important that the Restaurant should be in constant presence in social networks to drive new customers.

So this is some of the guides you should be looking into before setting up a restaurant business…

Yes, it is a little long but it’s worth your time reading.

How Artificial Intelligence and Machine Learning are impacting modern business era?

How Artificial Intelligence and Machine Learning are impacting modern business era?

In the last few decades technology has become a very indispensable part of our day-to-day lives. It has taken over almost each and every section of our basic necessities. Individuals’ more than half life has been dependent on the technology. 

From our day to day life tour business environment, everything is rapidly becoming the user of Artificial Intelligence. We are somewhere among the most comfortable generation that we are witnessing the services and receiving the help of Artificial Intelligence to make our lives easier. 

Now every small and big entrepreneur wants to impart the technology in business to get a hype. The maximum part of our technology has been covered by Artificial Intelligence and machine learning. So, we are preferring them more to create a healthy and successive business graph.

But having said that every coin has two aspects, it also has. On one hand Artificial Intelligence and Machine Learning has made our lives and work easier than before at the same time on the other hand it is decimating our lives in some aspects. We are using the maximum part of AI in our business environment. So, definitely we will be going to get maximumly positive or negative results in our businesses. 

This article is all about how Artificial Intelligence (AI) and Machine Learning are impacting modern business era? So, before we start to learn, we all must know what is Artificial Intelligence?

What is Artificial Intelligence?

A part of computer science that helps human as a human. It works to makes things faster with the help of technology. It fusses-over to create more most intelligent machines of world. We can have some examples of AI that we use it on a daily basis, eg., Speech recognition, Cortana, Siri, Google Assistant are well utilized and known examples of Artificial Intelligence. 

Let’s learn the both aspects of Artificial Intelligence and machine learning’s impact on our business era.


  • Digital Assistants
  • New innovative businesses
  • Accuracy that helps in decision making
  • Economic Growth

Digital Assistants

Digital assistants have become so common that we don’t even realize that we are surrounded by it. It has created a huge scaled market in terms of users and sellers.

According to the survey so many facts have come in the light. 

According to the report of 2018 digital assistants’ popularity will cross 1.8 billion by 2021 worldwide. Out of them 54% have agreed that digital assistants have made their lives easier. Estimated size of Virtual Digital Assistants’ (VDA) market worldwide is 8.56 billion USD. It may go 15.79 billion USD by 2021.

We use digital assistants in making our work faster and easier like

  • To get to know about traffic conditions of a place where we need to go.
  • To get reminders of meetings and personal appointments.
  • To read out emails and messages.
  • To type something faster than a human typing speed of typing.
  • To order goods, foods, and so more.

Digital assistant seems fun in use and the language it speaks is so friendly and understandable. Through the help of digital assistants’ children also learn to speak clearly.

Estimated Size of the virtual digital assistant (VDA) market worldwide

YearSize (In Billion USD)

New Innovative businesses

Artificial Intelligence begot a market of innovations. It forced humans to utilize their creativity and create some innovation that world actually need. Artificial Intelligence brought so many innovative business innovations. 

Google Assistants, Siri, Cortana, Robots are all the innovative begets of Artificial intelligence only. But we have been so much used to of all these besides robots that all have turned into common innovation.

If we talk about new recent innovation then you must be knowing about ‘Google Tulip’.

If you have heard about it then please let yourself know completely about it. If you haven’t heard yet then please go and google about google tulip. 

Google Tulip is a beget of google that communicates to flowers and fulfill their requirements of water, sunlight and etc. with the help of AI. It was tested in April 2019 and it was successful attempt have had by google. 

It was innovated for tulips in Netherland, a country which produces 12.5 billion flowers per year which is around 50% of all flowers in the world, Scientists believe that flowers communicate to each other by their roots and send signals to each other. Every other person of Netherland wants to keep tulips at home in vases. But it becomes so difficult to keep them fresh and alive.

Accuracy that helps in decision making

Machines takes decisions based on set of algorithms, previous records and data. So, the rooms for errors reduces so much. It creates an environment of accurate outcome with no error which helps in decision making.

When human takes a decision, he connects emotions in decision making and that may hamper business. But machines have no emotions. They work on set algorithms, not on human emotions so they work efficiently in less span of time.

Economic Growth

Artificial Intelligence has not only played a big role in business but it gives a good hype in our economic growth as well. With the induction of AI, its study and education has also needed to be getting started. That creates one more option for students. 

AI begets innovations and innovation is something that every country or nation wants to implement for the public. That brings economic growth.According to the market research firm Tractica, the global artificial intelligence software market is expected to experience massive growth in the coming years, with revenues increasing from around 9.5 billion U.S. dollars in 2018 to an expected 118.6 billion by 2025. (Information taken from google)


  • Dependency 
  • Unemployability 
  • Expensive
  • No room for creativity


On one hand where AI is giving a very good impact on our businesses at the same time on the other hand, it is increasing our dependency on machines. For Artificial Intelligence and machine learning technologies we shall have to dependent of machines. That can hamper the productivity.

And at the same time humans are becoming lassitude by having all works done by being at the same place through google assistants like Alexa.


At one place where Artificial Intelligence is saving our so much time at the other place it is giving big downfall to the employability graph. It is stealing lacks of people’s jobs what they do instead of Google assistants.

As machines can work for long 24*7 hours without a single break. So, in that case businesses would certainly prefer to appoint machines and would invest in them instead of humans. That may bring a huge sales unemployability. We can take a very practical and real example of this. In upcoming years driverless cars will be owing on roads. Thousands of drivers shall have to lose their jobs.


Though AI is giving helpful results in making lives easier, but it is a very expensive proposition. It is not going to be easy to implement in low economical fields. For example, driverless cars are going to be very expensive than normal cars. 

A middle-class man cannot afford it for his comfort. Its maintenance, proceedings are very expensive, we can simply see the robots, robots are highly maintained part of Artificial Intelligence. However, low fund industries and companies cannot entertain Artificial Intelligence.

No room for creativity

Artificial Intelligence works on algorithms, previous reports and data. It works and gives commands as we set machines to command. It doesn’t have a mind to think creatively. SO somewhere AI steals creativity from business. 

If your business is completely entertaining AI then it would be very difficult to keep it creative for a long time. Machines work efficiently not creatively. It performs as we command them to perform.


Definitely Artificial Intelligence can be the biggest change in mankind but at the same time damage that we’d face through this cannot be ignored. AI has power to eradicate maximum poverty of this world. It can explore new dimensions and if we use it precisely and in a useful way changes are adoptable and explorable.

What is a Joint Stock Company ? 10 Very Important Things to Know

What is a Joint Stock Company ?

Here we always talk about start-ups, businesses, companies,and investing in different businesses.

If a person doesn’t have enough money to form a company what should he do? well, that’s where the joint stock company kicks in.

Now lets know what is a joint-stock company?

A Joint Stock Company could be a voluntary association of a group of people to hold on the business.

It’s an association of more than one person who contributes investment into the organization i.e termed as “capital”. 

These people of this group are members of the corporate/organization. 

The partition of the capital of every member in the joint-stock company is known as “share” and each member holding such share is termed “shareholders” and therefore the capital of the corporate/organization is known as “share capital”.

Still, confused? 

Let’s breakdown this down-

In simple words, a joint-stock company is described as a business organization where more than one people are part of the organization or you can also say more than one person invested/owned the organization.

These people are called the shareholders of the joint-stock company. These shareholders own a certain amount of stock in the company known as their “share”.

Any joint-stock company involves shares, which also are encountered as public companies. The holders can either buy or sell the shares after their liking.

After understanding what’s a joint-stock company, it’s important to say that the shares in these sorts of organizations accompany obligations. 

Unlike ordinary or preferred stock, where there aren’t any obligations involved, joint-stock company shares require the holders to vote directly within the company’s management decisions.

Over that, the holders can intervene in how the company’s outstanding debts are handled.

Now that we have understood what is a joint-stock company lets go through some of the features of the joint-stock company there are many features but we will go through some of the important features-

1. Artificial Person: 

A joint-stock company is formed by the law-making body. It is viewed as an’ artificial human’ without any physical form.

Although a Joint Stock Company as a legal person is invisible and intangible, nearly all the rights of a natural person are enjoyed by a company.

It can sign contracts with other parties, buy and sell assets and properties, appoint people as Executives, and employee also an artificial legal person is controlled through the board members of the joint-stock company which give all its rights.

2. Separate Legal Entity: 

Joint stock company has separate legal identities and representatives relative to partnerships or ownership.

If a corporation is a joint stocked, as already stated, it receives a legal identity. There is no special responsibility for a member of a joint-stock company.

Therefore, in terms of financial or business activities, the joint-stock company will not rely on its members because they will be led by the Management Board.  

Its shareholders will not be held responsible for any conduct of the joint-stock company.

3. Limited Liability: 

In the joint-stock company, partners are generally limited throughout liabilities by assurance or shareholding. 

If a shareholder has paid the full amount owed for his stock previously, he will not be responsible for any further for the company’s debts. 

Nevertheless, the responsibility for sole ownership and association is infinite, and the latter is shared and multi-faceted in the latter situation.

4. Perpetual Existence: 

Unlike a corporation or single operating interest, the joint-stock company has a perpetual feature. 

Once an entity is created, it will operate until it is officially liquidated for an indefinite duration. In the case of the business, the slogan “men may come and men go but I go on forever”  But the demise of a sole trader concludes with a sole business issue and any members of the partnership must, in the case of merger, death, resignation or insolvency, split the firm.

5. Limited liability of shareholders: 

The responsibility of the owner reflects the disparity in a joint-stock company unlike other companies or a partnership. to pay the liability of the corporation, the properties belonging to the group owners can not be liquidated in a joint-stock company.

The liability of a creditor is restricted, and there is no position for the amount of debt here.

6. Common seal: 

Since a joint-stock company is an artificial legal entity, the board of directors controls its roles, meaning that approvals are common.

Standard seals are engraved and bear the name of the company, but the board of directors take its decisions. 

The only things that bind the organization to a contract are the standard seal and the signatures of the members.

7. Transferability of Shares:

In joint stock company representatives of a collective corporation shall be entitled to openly move their shares as provided for by the laws of the organization of the company.

The private company representatives do not, though, obtain this right.

8. Separation of Ownership from Management: 

In a joint-stock company the owners are held in a corporation, while the administration of the company’s operations is in the possession of the Management Board.

This is because a large group of owners distributed over a large area can not collaborate regularly for the corporation. Shareholders, therefore, appoint their representatives as managers to manage the affairs of the company.

9. A Large Number of Members: 

In a joint-stock company, the maximum number of members is not limited. Therefore, huge capital can be brought up.

Even an ordinary man can spend his money in a large company and benefit from it.

10. Distribution of Loss and profit:

There are large numbers of shareholders in a joint-stock company. A significant number of members are at risk for total losses and benefits in profits owing to a business.

Unlike a limited partner of a public company will accept a very small failure probability that is confined to its stock’s face value.

Let’s dive into some advantages and disadvantages of a joint stock company-


1. The main benefit of joint-stock corporations is the limited liability of all shareholders. 

2. The liability is restricted to the outstanding sum of your stock, which represents a major benefit. 

3. The shares are transferable from a joint-stock corporation. It ensures that if a person wishes to sell it on the market or in a public listing, he or she can do so and transform it into cash. 

4. The continuous succession of shared stocks can be perceived to be a great advantage because the assets can be exchanged. 

5. To manage all the activities, a company hires a board of directors. The Board is elected by highly qualified and talented people and this results in inefficient management. Furthermore, a company often has great resources, allowing them to employ the best talents and professionals. 

6. Joint-stock companies have huge budgets, and experts can be employed to carry out the activities associated with them.


1. The formation of a joint-stock company is a very long and time-consuming process.

2. It is a costly process and the main disadvantage of such enterprises. The usually long period lasts between a few weeks to a few months. 

3. The Company Act requires public records of all public companies. This implies a large lack of secrecy as the ownership of a joint-stock company is public. 

4. Joint stock firms comply with a variety of strict regulations and rules that greatly reduces their rights.There is also a restricted operation of joint-stock firms.

Now, let’s know how the joint stock company gets formed?

It happens mainly in 5 stages let’s get into details:


Promoting a company applies generally to all operations that have to be embarked on to set up a new business entity to produce or distribute some goods or services to the public.

It starts by conceiving a business idea or finding a possibility to do business,evaluating its feasibility and starting the business unit with the necessary steps.

The problem is whether or not all the basic requirements including property, building, raw materials, equipment, machinery, etc. are usable.

A promoter could be identified by an individual or group of individuals who think of a new business, determines its viability and takes the required steps to coordinate the basic requirements to create a business unit such as a company and put it in action.

He designs the concept of a business enterprise, analyzes the potential, establishes a tentative organizational model, gets the requisite people, equipment, machinery, and money together, and launches the firm.


To carry out its business without registering, a sole owner or partnership corporation may be formed.

Nevertheless,a corporation can not be founded or allowed to operate without registration.

In reality, only when registered with the Registrar of Companies a company comes into being. The promoter should take the following actions:

    a: Approval of Name: The name chosen for the organization will ensure that it does not suit any other company’s name. For this, the creator will fill in and forward to the Company Registrar the “Name Availability Form” together with the fees needed. At the top, the term will contain the

words ‘ Limited ‘ or ‘ private Limited. ‘When authorized, the promoter may continue with other incorporation formalities.

    b: Filing of Documents: Following the approval of the name, the promoter applies for registration 

to the Registrar of the Companies of the State in which the Registered Office of the company is located.

             The following documents must accompany the application for registration:

                 * Memorandum of Association (MOA)

                 * Articles of Association (AOA). 

                 * A list of members who have agreed to become Directors of the joint-stock company with their addresses etc.  

                 * Written consent of the proposed Directors to act in that capacity, duly signed by each Director. 

                 * A copy of the letter of authorization from the company registrar. 

    c: Payment of Filing and Registration Fees: The Registrar will also check all documents and if he finds them correctly he will issue a Certificate of Incorporation, which will be paid at the prescribed rate for a long term. The business is made available when the certificate is released.

So this certificate may be called as the Birth Certificate of a Joint Stock Company

Raising capital or subscription of capital:

After the company is incorporated, the next stage is to raise the necessary capital. 

In the case of a private limited company, funds are raised from the members or through arrangements from banks and other sources.

 In the case of a public limited company, the share capital has to be raised from the public. 

Commencement of business:

In case of a private limited company, it will automatically start its business as soon as it is registered. Nevertheless, 

in case of the public limited company a certificate, recognized as ‘ certificate of commencement of business’, must be received from the Registrar of 

Companies before starting their service. To that effect, a document shall be sent to the Registrar of Companies with the following declaration.

Now, this is the process to form a joint-stock company.

Let us know in the comment if you like the article or not.

Thanks for reading

Have a good day.

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Founder of Zomato Deepinder Goyal on its Growth, Zomato Gold, Food delivery and its Expansion – Zomato turns 11

Founder of zomato

Zomato started off as an online service platform that scanned and put restaurant menus back in the day. They have now diversified into a food delivery company. 

They have now expanded to 24 countries and serve almost 10,000 cities globally. 

On its 11th anniversary, CEO Deepinder Goyal said, “Every anniversary makes us proud of what we have achieved yet, acutely aware of how much there is left to do.”

Articles you must read – Restaurant Business Plan

Business Performance:

The burn rate of the company has reduced by 60% of what it was 6 months ago. However, it reported a loss of $294 million in FY 19. 

Deepinder said, “We achieved tremendous results in optimizing our costs, without affecting new product launches or innovation. We will shoot for market leadership, and simultaneously steer the business towards a more sustainable P&L”. 

Currently, Zomato has 3 main services, Food delivery, Dining out and Sustainability. 

Zomato currently offers food delivery in more than 500 cities across India. 

The order volumes in the top 15 cities have doubled in the last one year. The remaining cities contribute about 35% to the order volume.

Deepinder said that, “Our food @ work business is growing well, and some very large accounts are slated to go live soon. We are already doing 3 million orders a month for food @ work.

Zomato also claimed that its average monthly transacting users have increased by 211% to11.2 million users. While, the average monthly active restaurants have increased by 177% to 119K restaurants. 

Known as the “backbone” of Zomato’s services, by Deepinder, the average monthly active livery partners have increased by 308% in the first half of FY 2020. Currently there are more than 200K delivery partners associated with Zomato. 

Restaurant listing and Zomato Gold:

The restaurant listings on Zomato has gone up globally from 1.2 million in September 2018 to 1.5 million in September 2019. Half of the increase comes from India alone, said Deepinder. 

One of the primary products of Zomato, Zomato Gold, saw its users increase to 1.4 million. 

The cities in which Zomato Gold is applicable has increased by 34 cities to 54 as on September 2019 as compared to 20 cities in September 2018. 

From a restaurant owner point of view, gold is not for everyone, said Deepinder. He added, “We always encourage restaurants to determine if participating in Zomato Gold makes commercial sense for them. Some restaurant owners in India campaigned against Zomato Gold last month (#logout campaign); We engaged with the restaurant owner community and rolled out some changes to the program that were widely accepted by most restaurants, as well as users – Thus creating more balance in the program. A number of restaurants who have returned to Zomato Gold post these changes have seen a 100% increase in revenue.” 

In the last 6 months, Zomato has carried out over 65,000 orders for 2,200 restaurants across Delhi and Bengaluru. 

Zomato acquired Hyperpure in 2018. They provide fresh and good quality ingredients to its restaurant partners. They have projected a growth of 10x in the FY 20. 

In July, the food aggregator also started collecting used cooking oil from restaurants, processed it and then delivered it to biodiesel manufacturing plants. Zomato collects 130 tonnes of used oil per month from about 1000 kitchens in Delhi – NCR. They are planning to expand to 5 more cities from October. 

Useful Article –

Restaurant Business Plan 

Govt’s definition of startups just became more comprehensive. Here’s how:

Govt’s definition of startups just became more comprehensive. Here’s how:

The Department for Promotion of Industry and Internal Trade (DPIIT) released a gazette notification in February. 

The definition of startup is broader compared to the earlier definition under ‘Startup India, Standup India’ scheme.

According to the new definition, an entity will be considered a startup:

  1. Upto 10 years from the date of incorporation.
  2. If an entity’s turnover hasn’t exceeded INR 100 crore in any financial year from the date of incorporation.

In comparison to the definition of startups given earlier in DPIIT’s April 2018 gazette notification, An entity was considered a startup upto a period of 7 years from the year of incorporation and it’s annual turnover was not to exceed INR 25 crore in any of the financial years from the year of incorporation. 

Both the old and the new definitions require the entities to work on a business model with a high potential of innovation, development, employment and wealth generation. 

Minister of commerce and industry, civil aviation, Suresh Prabhu said they will simplify the process for startups to get an exemption on investments under Sec 52 (2) (viib) of Income Tax Act, 1961. This provision under this section is called angel tax. 

What is a Lean Startup ?

What is a Lean Startup?

  • Lean startup is a method used to build businesses based on the beliefs that the entrepreneurs must investigate experiment and test as they develop the products. 
  • It is basically Customer development + Product development. 

10 Important points about lean startup:

1. Lean startup uses validated methods and a hypothesis to assess consumer interest. This will help you to understand the needs and demand of the market. Hence, you can produce accordingly.

2. Lean startup gives a lot of importance to customer related information such as product popularity, Lifetime customer value (Profit attributed to the future relationship with a customer) and customer churn rate (Percentage of customers lost during a specific period).

3. In a Lean startup, experimentation is given more prominence than having a fixed plan. 

4. Lean startups will release their products in a small quantity in order to assess the customer reaction to the product. 

5. The Pivot – A pivot is not necessarily a failure. It means you will change one of the main hypotheses that you had implemented. There are different types of pivot. They are:

  • Zoom in pivot – A single feature in the product now becomes the whole product.
  • Zoom out pivot – It’s the opposite of zoom in pivot. A whole product becomes a single feature in something bigger. 
  • Customer segment pivot – The product was right but the customer segment targeted was not. Here, the product remains the same but the segment changes.
  • Value capture pivot – Changing how value is captured changes everything in the business. (Cost structure, product, marketing strategy, etc)
  • Technology pivot – A new technology can substantially reduce the cost, increase efficiency or performance and allow you to keep everything else the same. (value creation, customer segment, etc)

6. Small batches:

One of the biggest advantages of working in small batches is problems can be identified at a much lesser cost. 

For example – If there is a defect in the physical part, stopping the entire production line can be avoided. 

7. The Andon cord:

The key to the Andon cord is that it brings work to a stop if there is any big problem that requires it to be investigated. 

The activation can bring the production to stop if there is a big issue. This will help the management because it will help in reducing extra cost and increasing the quality too. 

8. Kanban:

Kanban is a visual system for managing work through a process. The goal of Kanban is to identify potential problems in your process and fix them so that work process can be smooth without any bottlenecks.

This is also helps in saving money as it helps in recognizing the problem at an initial stage.   

9. The 5 Whys:

Using the 5 Whys technique helps you get close to the root cause of the problem. It’s a simple and a powerful technique. 

This technique is particularly useful for startups, as it helps them to find the optimal time and speed for making improvements to the detected problems.

10. Minimum viable product:

A Minimum viable product is a product with just enough features to cater to needs of the early customers and this will help in providing feedback for future product development. 

These were some important points about lean startup. Hope you liked it. ☺  

Also read about startup india here-

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The Journey Of Zomato

The Journey Of Zomato

“Creative thinking lead to great business ideas”. One such similar story is of the online food delivery company Zomato. 

The restaurant search service started as Foodiebay and changed their name from Foodiebay to Zomato in 2010. 

Zomato started as a restaurant search platform. Now they also provide online food delivery service to its customers. 

  • Where did the idea of Zomato come from?

Deepinder Goyal and Pankaj Chaddah were working at Bain. They got the idea of starting a company like Zomato when they saw a long line in the office canteen for the menu card. 

They wanted to find a solution to this problem. This is how Foodiebay was born. Foodiebay scanned the menu of the restaurants and posted it on the private network of the company. 

Foodiebay started as an intranet facility. After the success at the office, they opened the service to the public. 

Foodiebay started gaining more popularity day by day. The number of users and clients also increased gradually. That’s when they decided to change the name from Foodiebay to Zomato as they wanted to avoid confusion with popular e-commerce company eBay.  

  • Zomato Funding:

The website of Zomato was getting a good amount of traffic. The website was doing well. But they had to keep up with the times and develop an app soon. Unfortunately they did not have enough funds to build a mobile application. 

Zomato needed funding and that’s when Sanjeev Bikhchandani of Naukri.com stepped in to save the company. He was fascinated with the company’s ideas and he invested around $ 1 million.  

Presently,  Zomato has raised a total of $755.6 million in funding over 13 rounds. Their latest funding was raised on March 1, 2019 from a corporate round. 

  • Zomato Business Model:

Key Activities of Zomato: 

  • Provides restaurant search service.
  • Online food delivery service.
  • Provides restaurant ratings and reviews. 
  • Collects data on food menus, contact and location of restaurants to provide relevant information to users. 

Value Proposition:

  • Bridges the gap between consumers and restaurants through efficient technology which saves time and cost.

Customer Segments:

  • Users who use the app to find restaurants and various cuisines.
  •  Customers who order home.
  • Restaurants who want to reach out to their target audience. 
  • Market research companies.
  • Database companies. 


  • Mobile App
  • Website

Revenue Streams:

  • Advertising – Advertising on their website and app generates a significant amount of revenue. 
  • Food delivery – Home delivery of food that is ordered online.
  • Subscription – Subscription of Zomato gold. 
  • Commission – Cut from online and offline orders from their side. They charge anywhere between 5% – 20% of the order value. 
  • Consulting – Provides business consulting and data analytics services to their clients. 

Zomato’s success did not happen overnight. They created a business model which played a major part in building the brand it is as of today. 

Zomato has grown extensively from 2008 and has come a far way. They have their presence in more than 500 + cities and aim to grow even bigger. 

Zomato has always catered to the needs of their customers. This is one of the main aspects that has helped them grow.

This is just the beginning of their success story. If they continue with this kind of hard work, dedication and innovation, the company has the potential to make it really big.