29A

1. In a venture concept write-up there are three different components. The first of the three components is opportunity. The definition of opportunity is a set of situation or circumstances that give someone the ability to do something. Opportunities are especially important in the world of entrepreneurship because I believe that is the exact highlight of what makes entrepreneurs special. Specifically, their ability to recognize a problem see this particular issue as an opportunity rather than a burden to then come to a solution that they are able to make a business out of. I really believe it is a beautiful thing. The second element in this venture concept is innovation you need to be innovative in some way or another in business because if not you will not thrive and prosper in a constantly evolving world. Also, innovation is what the core of your competitive advantage over your competition. The last portion of my venture concept consists of the venture concept.
                 Allow me to go in depth about the details regarding the opportunities my restaurant "Gainz on the Go" has. The forces in the environment of my business are the fact that other restaurants in the Gainesville area are simply not open past 11pm. The places that offer food which are open late at night are typically fast food places, which we all know are extremely low quality food that is simply not healthy for us to consume. Geographically I would say this market is defined as Gainesville local as well as its demographic being young college students between the ages of 18-28 years of age. Customers are currently satisfying this need by going to fast food options such as Shake Shack, McDonalds, and worst of all Taco Bell. I would not say they are really loyal to these options because of the fact that they simply do not have any other alternatives. I believe if they were given a healthier affordable and delicious option such as Gainz on the Go they would gladly take it. I believe the opportunity here is truly massive because it would revolutionize the standards we the Gainesville community hold for fast food. I think the window of opportunity will be open as long as no one else decides to make a healthy fast food alternative such as myself.
                I believe customers would stick to this new product simply because of how affordable, healthy, and delicious it will be. Let us take a look at why Chick-FilA for example is so successful it is because they provide an extremely healthy, affordable, and delicious food option. What is there issue they are not open late at night nor are they open on Sunday's. Gainz on the Go would essentially be a blend of Chick-FilA and Chipotle open late at night so college students can have an amazing healthy place to eat late night after a long night of studying or partying. My competitors include, Shake Shack, Taco Bell, McDonalds, and Wendy's. My weakness could be is that my food will not be as cheap as the locations I previously mentioned. I believe customer support/customer service is where I plan to set my competitive advantage because that is something the fast food casual market lacks heavily. Moreover, business location is very very important as well being located right next to all the bars and clubs would be extremely useful because it would make my restaurant very convenient and accessible to those party college students who are leaving and are hungry. I believe having four employees would be sufficient in the store to start off and if I need more I will hire accordingly.
              All in all, I believe if I implement of all these things that I just mentioned this has the potential to revolutionize the fast food industry we know today. In five years I hope to be a smashing success in the Gainesville community hopefully have an on campus location at UF to further establish the brand and make it ever so recognizable. After opening an on campus location I have the hopes of maybe franchising it as long as I am able to secure quality control since it will be a challenge having expanding it to such a large scale I will not be able to oversee all the operations. Hopefully, we can have fellow Gators that are into business to intern and volunteer to gain experience in the restaurant industry.

             

2. From the feedback I received all of my classmates agreed with the points I had made about marketing and location. They all agreed that location for my type of restaurant would be extremely extremely important for convenience purposes which makes so much sense. They also emphasized how important marketing and branding would be for the business so my customers already know a new restaurant is coming into town. The one negative feedback I had was towards my protein pastries but I took it with a grain of salt and I will explain why. The person assumed I would be unsuccessful in making protein pastries because they assumed I would make them with protein powder which does not taste good. Luckily, I know a bunch of different recipes that I eat on a daily basis that are delicious because my sources of protein are natural such as peanut butter, greek yogurt, nuts etc. This will ensure the taste and quality of my pastries.

3. From the feedback that I received the only concerned that my peers brought to my attention was the protein pastry situation. However, I explained how and why that would not be an issue in the previous point made. All the other people expressed how important marketing and location would be which I had already anticipated and work towards. Essentially as of now I know the game plan I need to follow I simply have to follow through and execute it.