SWAP (How this new food and beverage startup is helping individuals to shift towards a healthy diet in 2023)
Swap is a Food and beverage startup.
What is swap all about?
Swap is a Hyderabad-based startup operating in the food & beverage segment of the industry where it focuses on preparing healthy meals for individuals. Swap’s aim is to create healthy ecosystems by disrupting the present practices in the world of F&B.
The idea is not just to cater to people who are already particular about their health and fitness but also to make a shift, in the larger picture, in individuals’ lives where they take their fitness seriously, diet for which is particularly significant.
The vision of the startup is “Building an Ecosystem for consumers to Shift, Engage and Retain in a Healthy Lifestyle”
The mission is “Leveraging Technology and Cloud Kitchens to Build India’s Largest Health Food Chain”
|Revenue Model||One Time Payment, Subscription|
How did Swap start?
The founder has been into fitness always and it was during his regular gym sessions that he felt that while one can order fast foods like pizzas and burgers at the tip of their fingers today, the same could not be said for a bowl of brown rice or boiled eggs. To bridge this gap in the food & beverage ecosystem, Swap was incepted.
The revenue has increased by 404% since the commencement of Swap till now.
Even though Hyderabad as a city is not too health conscious because the founder has a local resident advantage, targeting gyms proved fruitful. Affordability with health was a distinguishing factor for the startup.
Area of Operation
The startup is operating from 3 cities so far – Visakhapatnam, Hyderabad, and Tirupati.
Consolidating all the units, This Hyderabad-based startup has a team strength of 35-40 people. The core team consists of 6 people.
Health-conscious people or people trying to make a healthy shift in their lifestyle, gyms, especially crowded ones, and doctors are the target market for Swap. Post successful penetration in these segments, mainstream penetration would begin.
There are three modules for revenue generation at Swap. The first module is for people who are trying to build a healthy lifestyle. They can place an order and get the food delivered to them via one-time payment.
The second module is a subscription-based model, for people who have some target in mind, for instance, losing weight in the next 6 months. For this, a user can subscribe to standardized high-protein meal plans.
The third module is a personalized subscription model, for people who are serious about their daily intake. They can share their diet plans with the team at Swap and the team can deliver those meals.
In the last financial year, the startup rounded up to INR 1.8 crores. Since its inception, it has been 3 years and the startup today is standing at a valuation of INR 15 crores
The business model is both B2B and B2C for this healthy meal-based startup.
Contrary to common misconception, Swap is not like Swiggy or Zomato which work as aggregators. This Food & beverage startup has its own cloud kitchen where it prepares meals and often delivers via such aggregators.
Future Expansion Plans
The expansion plan is to establish this Hyderabad-based startup as a PAN India startup. In the next year, 4 more outlets in Chennai, 4 in Bangalore, and 5 more in Hyderabad are planned. Post that, expansion plans are in the pipeline.
The strength of the startup is its cloud kitchen as most of the processes are automated in nature. Operating units, maintaining quality, and following standardized SOPs are relatively smooth.
The weakness is that this startup is operating in a space that is already crowded, that is, the F&B segment.
The opportunity is immense as the market size in India is incredible. Nearly $ 5-7 billion market share and Swap aims to have at least a 10% share in the same.
The threat is the acquisition by big players like Cult.
The founder started this Hyderabad-based startup with INR 10,000. So far they are bootstrapped but have been on their rounds of raising funds with sectionized, ultra-sectionized, and angel investors.
Praveen Kota is the founder and CEO of Swap. Anurag Prithvi and Meesala Gnanesh are the Co-founders of the swap.
What is Swap's aim?
Swap’s aim is to create healthy ecosystems by disrupting the present practices in the world of F&B and replace those practices with healthy meals.