42955
RoboJuice
Robotics Juice Bar
USA, California
Market: Food industry
Stage of the project: Prototype or product is ready
Date of last change: 02.12.2020
USA, California
Market: Food industry
Stage of the project: Prototype or product is ready
Date of last change: 02.12.2020
Idea
RoboJuice is a kiosk with a human-like robot that makes juices and smoothies.
Current Status
We currently have a working prototype. Our next step is to finish developing a version of the robot that we can install at our first location at Stanford University this Summer. This will help us develop the next version of the robot that we will use for all of our future locations and allow us to rapidly scale.
Our traction so far is inquiries for over 150 franchise locations from around the world.
Our traction so far is inquiries for over 150 franchise locations from around the world.
Market
Top 3 companies in our industry:
> Orange Julius: 5,700 locations
> Smoothie King: 1001 locations (as of 2018) with revenue of $415.7m annually
> Jamba Juice: 850 locations (with each store generating about $700,000 in annual revenue) - $229m annually.
Market size:
> Global Market is $15 billion, US market $5 billion. The market is growing because a healthy lifestyle is becoming very popular.
> CAGR 2019-2024:
- Organic Food and Beverages: 16.4% (https://www.marketwatch.com/press-release/organic-food-and-beverages-market-to-touch-327600-million-by-2022-to-incur-high-value-growth-at-164-cagr-during-2016-2022-2019-07-24)
- Smoothie Market: 6.98% (https://hype.news/market-reports-world-in/smoothies-market-size-share-2019-global-industry-trends-statistics-size-share-regional-analysis-by-key-players-industry-forecast-by-product-applications-and-end-user-gihblgzg)
- Fruit & Vegetable Juice Market: 3.17% (https://www.marketwatch.com/press-release/fruit-and-vegetable-juice-market-2019-global-industry-size-share-growth-increasing-demand-business-overview-case-studies-opportunities-and-future-trends-2024-2019-08-22?mod=mw_quote_news)
> Orange Julius: 5,700 locations
> Smoothie King: 1001 locations (as of 2018) with revenue of $415.7m annually
> Jamba Juice: 850 locations (with each store generating about $700,000 in annual revenue) - $229m annually.
Market size:
> Global Market is $15 billion, US market $5 billion. The market is growing because a healthy lifestyle is becoming very popular.
> CAGR 2019-2024:
- Organic Food and Beverages: 16.4% (https://www.marketwatch.com/press-release/organic-food-and-beverages-market-to-touch-327600-million-by-2022-to-incur-high-value-growth-at-164-cagr-during-2016-2022-2019-07-24)
- Smoothie Market: 6.98% (https://hype.news/market-reports-world-in/smoothies-market-size-share-2019-global-industry-trends-statistics-size-share-regional-analysis-by-key-players-industry-forecast-by-product-applications-and-end-user-gihblgzg)
- Fruit & Vegetable Juice Market: 3.17% (https://www.marketwatch.com/press-release/fruit-and-vegetable-juice-market-2019-global-industry-size-share-growth-increasing-demand-business-overview-case-studies-opportunities-and-future-trends-2024-2019-08-22?mod=mw_quote_news)
Problem or Opportunity
Problems:
1. Cost: It's extremely expensive to open a new location, Jambo Juice costs around 300k to open a single location. Maintenance & employee wages make it an extremely expensive process.
2. Food quality: Because it's expensive to use organic fruits, companies like Jambo Juice resort to using non-organic fruits to be able to keep prices low.
3. Speed: It takes anywhere between 5-7 minutes per drink at a Jamba Juice & 2-5 minutes at an automated juice bar (Blendid).
4. Problems with existing automated solutions: Still expensive (Blendid costs 70k), slow (2-5 min) and unattractive (it's just a robotic arm or a vending machine).
1. Cost: It's extremely expensive to open a new location, Jambo Juice costs around 300k to open a single location. Maintenance & employee wages make it an extremely expensive process.
2. Food quality: Because it's expensive to use organic fruits, companies like Jambo Juice resort to using non-organic fruits to be able to keep prices low.
3. Speed: It takes anywhere between 5-7 minutes per drink at a Jamba Juice & 2-5 minutes at an automated juice bar (Blendid).
4. Problems with existing automated solutions: Still expensive (Blendid costs 70k), slow (2-5 min) and unattractive (it's just a robotic arm or a vending machine).
Solution (product or service)
We're building a robot that will make juices and smoothies in under 30 seconds and offer 15 different flavors. And we will offer our robot at 65k per location.
RoboJuice will not only automate the drink preparation but will also develop an emotional connection to customers through communication. We’ll use AI and Machine Learning to analyze user preferences and give users suggestions based on their health goals.
RoboJuice will not only automate the drink preparation but will also develop an emotional connection to customers through communication. We’ll use AI and Machine Learning to analyze user preferences and give users suggestions based on their health goals.
Competitors
Blendid
Albert
Albert
Advantages or differentiators
Our main direct competitor is Blendid.
In the previous section ("What's new about what you're making?"), we've talked about our main advantages.
Here are some highlights:
- 2-5x cheaper - because we use hydraulics instead of servo motors, which drastically reduces the cost of each franchise location.
- 3-6x faster - we eliminated lots of unnecessary movements and developed our own blended which saves a lot of time.
- 3-5x better maintenance. Our robot doesn't spill drinks and is easier to maintain.
In the previous section ("What's new about what you're making?"), we've talked about our main advantages.
Here are some highlights:
- 2-5x cheaper - because we use hydraulics instead of servo motors, which drastically reduces the cost of each franchise location.
- 3-6x faster - we eliminated lots of unnecessary movements and developed our own blended which saves a lot of time.
- 3-5x better maintenance. Our robot doesn't spill drinks and is easier to maintain.
Finance
REVENUE MODEL
B2C: Installing our own kiosks.
1 location:
Price for 1 cup: $5
Daily sales: 250 cups ($1,250/day)
Annual revenue: $456k
1000 locations will bring $456M every year.
B2B: Selling franchises. Collecting 10% royalty fees. Our plan to install 3000 franchise locations worldwide in the next 3-5 years.
Annual revenue: $1,360 Million
Our annual royalty is $136M
To calculate sales, we used existing competitor data.
B2C: Installing our own kiosks.
1 location:
Price for 1 cup: $5
Daily sales: 250 cups ($1,250/day)
Annual revenue: $456k
1000 locations will bring $456M every year.
B2B: Selling franchises. Collecting 10% royalty fees. Our plan to install 3000 franchise locations worldwide in the next 3-5 years.
Annual revenue: $1,360 Million
Our annual royalty is $136M
To calculate sales, we used existing competitor data.
Invested in previous rounds, $
Business model
We have 2 main business models:
> B2B: install own kiosks
> B2C: install franchise kiosks
> B2B: install own kiosks
> B2C: install franchise kiosks
Money will be spent on
Our main milestone is to install our first location at Stanford university - that will allow us to raise a substantiation seed round and allow us to scale.
Offer for investor
Currently using SAFEs from YC
Team or Management
Risks
Timing is the biggest risk - now is the perfect timing for the next big player and I think we could take that place.
Incubation/Acceleration programs accomplishment
Resident at the Mass Robotics lab in Boston
Won the competition and other awards
"San Francisco Unicord Battle"
Invention/Patent
Inventor Mikalai SAKHNO
Automated machines for making juice
Application US15/979,841
2017-05-15
Publication of US20180330566A1
2019-11-22
Automated machines for making juice
Application US15/979,841
2017-05-15
Publication of US20180330566A1
2019-11-22
Photos
Product Video
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