1. Who you are. What your talents are. What your skills and experiences are. Also: what are your aspirations? Specifically regarding your business concept, how do you see this business (if you were to start it) playing a role in your life?
I am a student at the Warrington School of Business at the University of Florida, with an idea of opening up a new restaurant. My talents are cooking, marketing, and interacting/leading teams. My aspirations are for this restaurant to revolutionize the fast food industry we know today. This business would play a huge role in my life because it would save me time by not having to cook and measure all my food out. 2.What are you offering to customers? Describe the product or service (in other words, how you'll solve customers' unmet needs).
The product I will be providing is healthy food that is labeled all its ingredients and exact measurements with labeled macro and micro nutrients, as well as being open late at night so people are not forced to have to settle with McDonalds or Taco Bell after a long night out.
3. Who are you offering it to? Describe, in as much detail as possible, the demographic and psychographic characteristics of your customers. Think especially of this question: what do your customers all have in common?I will be offering my product/service to mainly University of Florida students within the ages of 18-24. Specifically, people who care about eating clean and are into health and fitness. The thing my customers would all have in common would be their desire to live healthy lives.
4. Why do they care? Your solution is only valuable insofar as customers believe its valuable to them. Here, explain why customers will actually pay you money to use your product or service. I believe people will value my product/service because it will be the only restaurant open late at night that offers healthy nutritious food not only that but it will be affordable and delicious. No other restaurants are open very late at night besides fast food places who serve very low quality food. Aside from that I will build a close relationship with the Gainesville area by sourcing as much produce as I can from local farms.
5.What are your core competencies? What sets you apart from everyone else? Also: what do you have that nobody else has?
What sets me apart from everyone else is that I will be a local restaurant that is open late at night serving healthy, quick, delicious, and affordable high quality food which is not really an option that is offered currently passed 12/1am.
All together I truly believe all of the points I brought up are aligned. I think this can be a very successful business if executed properly. One thing not mentioned that needs to be is how I will need to provide good service to customers, so they can truly have an all around great dining experience. I think UF students would a appreciate a local restaurant who provides great quality healthy foods for them after a late night out.
Hey David I really enjoyed reading your post. I am a big fan of your opportunity that you are pursuing because it is similar to mine. I saw that you have a lot of the same talents and skills as me. That makes me think that you have what it takes to be successful in the food business in Gainesville, which is good to hear. UF campus is lacking a variety of things when it comes to places to eat. Therefore, I think the future is bright for your opportunity.
ReplyDeleteHi! I think that your business idea has a lot of potential. I am often out pretty late and the last few times I have found myself at steak n shake at like 4 AM. This food is affordable and available but is not at all nutritious. I think that the closest restaurant to what you are describing could be Boca Fiesta which has delicious food and is open pretty late. However t is not fast food, but more of a sit down restaurant.
ReplyDeleteHey David,
ReplyDeleteI think that the skills you said you have in part 1 of your post coincide with your idea very well. I think as a founder of a restaurant you need to know a lot about cooking and consumer's taste so that you can cater your food taste to what consumers will buy. It's also important that you know how to market and run your business in general since restaurants typically don't make too much profit at the begging.
What is up David, I enjoyed reading your article. Cooking is definitely an interesting skill to have, I wonder if you personally will come up with the recipes for your food products. Either way I would for sure make frequent stops to this fast food joint after late nights at mid town or down town. The biggest thing would be whether or not the food would be tasty.
ReplyDelete