Assignment 10

https://www.youtube.com/watch?v=OdPT3gN-pF0

Assignment 9 - Testing the Hypothesis, Part 2

Who:
After conducting five more interviews, I realized that vegetarians and vegans have a lot in common  with my target market. Although my restaurant's dishes will contain a lot of fruits and veggies, most of them will not be vegetarian/vegan friendly. I'm sure some food will be, but they aren't my target audience.
What:
The point where my need differs from others is where the healthy part comes in. Fast food came about when people wanted quick meals at a low price but as more and more people are starting to  care about their health, they have been looking for better alternatives. My restaurant will be as quick and easy as regular fast food but much healthier.
Why:
The underlying need for the outsiders is different because although their diets are usually healthy, vegetarians/vegans can't eat meat and/or products made with meat such as chicken stock or beef broth.

Inside the Boundary	Outside the Boundary
Who: Those who want to eat healthy too busy to prepare a healthy meal. Particularly college kids and those in the working class.	Who: People who don't care too much about their health and vegetarians/vegans.
What the need is: An alternative to fast food that is just as quick and cheap, but also healthy.	What the need is not: Just any fast food that doesn't satisfy people who have a need to be healthy.
Why the need exists: Becoming healthier is a growing trend but many people are partaking in but there's not enough options for those who have limited time in their days. If there is a way to have healthy food that's relatively quick, it's not cheap so there is a need for the trifecta: cheap, fast, and healthy.	Alternative explanations: The need can also exist for working moms who want their families to eat better or those who just want something quick. People who eat fast food aren't looking to be unhealthy, it's just convenient. The same can go for my restaurant except the other way around.

Assignment 8- The Second-Most Important Part of Entrepreneurship

The answer to my problem would be to open a restaurant that provides healthy food at a low cost and is as quick as fast food restaurants. Ideally, I would design a menu that appeals to both children and adults with items such as nuggets and burgers that are baked rather than fried and the buns would be made low calorie. I obviously need to do some thinking about how I would keep costs down, but I would try to make deals with suppliers, keep utilities low, and start out with few employees. I would like to get feedback from students to see exactly what kind of foods they would be interested in and how I could keep costs down.

Assignment 7 Testing the Hypothesis

1.) College students don't have a restaurant where food is quick, healthy, and affordable because healthy food is generally expensive.

Who: College Students

What:  Lack of fast food that's healthy and affordable

Why: Healthy food is expensive.

2.)

Who: This need is shared by busy people who want to eat healthy. I find it prominent in the working class, especially busy parents who want their families to eat better but don't have the time/money to do so. 

What: There are foods that are quick and healthy but not affordable and the food that's fast and affordable isn't healthy. No food establishment currently meets all three needs.

Why: People with lower incomes, especially college students can't always afford produce. Suppliers charge high prices for produce which means in order to make a profit, businesses must do the same. Because of this, food chains find it easier and more profitable to sell cheap, unhealthy food.

Interview 1: Premed student in Starbucks

She was very enthusiastic about this idea and told me she was just discussing how there was no affordable healthy food in the area. She has a very busy life between her school work and volunteering so she generally meal preps to prepare for her busy weeks. She said she wasn't really sure how someone could keep the costs of health foods down, but it's a great concept, especially for people with really busy schedules.

Interview 2: My roommate, 21 year old business student

He thought this was a good idea because he tries to stay as healthy as possible but doesn't always feel like cooking. He often goes to the store late at night after work so he can cook but when he's feeling lazy he just goes to McDonald's. He said that he hates doing this because the food makes him feel bad mentally and physically. He would feel much better if he had a healthy place to go where it doesn't take more than ten minutes to get his food. He thinks this will be helpful for those who go to the gym a lot because all "health freaks" get tired of cooking.

Interview 3: My manager at Chuy's

My manager found the concept interesting, but was critical of how this could be accomplished. As someone who knows about managing the costs, I was glad to hear what she had to say. She told me her second highest cost was the fresh produce. Something to think about was not every single fruit/vegetable will be edible. For example, 1/5 of the avocados we get in our orders are unusable because they are too mushy or even a little moldy. She felt if all of our food was in fact healthy and made fresh that costs would be too high to keep our product cheap which is concerning and will send me back to the drawing board.

Interview 4: A teacher and mother of five

Donna is a loving mother who loves to cook for her children. She said it would be nice to have a healthy alternative for the nights she doesn't want to cook but most of the time she's preparing meals for the family. She also made the point that her family isn't really tight on money so if it's something her kids really wanted, she wouldn't hesitate to buy it for them. She thinks this would be a great idea for college students and working moms like herself because she knows not everyone wants to cook as much as she does. In her opinion, Chipotle is decently healthy and not that expensive but it would be nice to have other options.

Interview 5: 22 year old waiter at Chuy's

My coworker said he thought most people in town would be all for this idea but he wasn't. He told me most of his friends really care about their health and are always working out but he doesn't really care about his own health. Whenever he goes out to eat with his friends, they usually go for healthier options while he goes for whatever is cheap and tasty. He thinks his friends would appreciate a restaurant that's fast, healthy, and affordable but it's just not for him.

I feel like this would be a popular business idea but what popped out at me the most were the things that my manager said to me. I never considered the fact that not all of the fresh food I order will be edible which will be a huge cost driver. On top of that, fresh fruits and vegetables will not be cheap and many people are concerned with how the food will be kept affordable.

Assignment 6: Practicing Opportunity Identification

1. Climate Change
a.)https://www.thebalance.com/top-usa-future-economic-trends-3305666
b.) Climate change has the potential to cause a wide variety of problems. For example, an increase in temperature can cause an increase in the price of food due to the lack of output in the fields. I see an opportunity because if temperatures continue to rise, food will be less and less affordable.
c.) The prototypical customer is most likely people who cook more than they go out for food.
d.) I feel that is opportunity will be difficult to exploit because the price of a necessity is going up and it will be hard to find substitutes and/or a way to drive costs down. Alternatively, there could be an opportunity to help the environment and decrease global warming but that would also be hard to exploit.
e.) I believe I was more apt to seeing this opportunity because many of my teachers I had growing up based their curriculum on helping the environment and the dangers of global warming.

2. Homelessness
a.)https://www.cnn.com/2019/09/18/opinions/homeless-la-state-of-emergency-ridley-thomas/index.html
b.) Homelessness is a rising trend caused by high rent and stagnant wages and is causing deaths left and right. This is a huge problem and I see a few potential opportunities that could aid this issue: 1. opening an apartment complex with rent based on a persons income, 2. laws keeping families with children off the streets, 3. a business that helps and supports the homeless in some way (providing them with a place to stay, clothes, food, and hygienic products until they get back on their feet.
c.) The population of homeless people would be the projected customer.
d.) I feel there are many options to attack this issue which doesn't make it the most difficult issue to exploit but I feel that most solutions would be for a nonprofit business.
e.) I was raised to always care for and help people in any way I can and it would always make me sad to see homeless people on the streets. Finding ways to help them has always been in the back of my mind which is why I found this issue a bit easier to approach.

3. Credit Loss
a.)https://www.csiweb.com/resources/blog/post/2019/01/08/identifying-the-top-regulatory-priorities-of-2019
b.) With technology evolving, more and more people are getting their credit card information stolen. FASB is considering implementing a new law where banks will have predict potential losses and account for them before they occur. This is an every-growing problem that banks and cyber security firms should capitalize on.
c.) The customer base would include banks/firms and/or credit card users.
d.) I think this would be a relatively easy issue to exploit with enough time to formulate a plan.
e.) I've been focusing on computer science for a while now and many of my projects senior year were based on cyber security which is why I saw this problem.

4.) Vaping
a.) I got this idea from all the hype on the news mixed with the prominence of vaping within my apartment.
b.) With more and more research, people are becoming aware of the dangers in vaping and questioning whether or not it's better for you than cigarettes.  I know there has been discussion of changing regulations and the minimum age for vaping. I think there is opportunity for finding another alternative or making it seem less attractive to users.
c.) The prospective customers would be people who vape.
d.) I think this issue would be difficult to exploit because people are so unnecessarily attracted to vaping and almost view it as a need.

Assignment 5 - Identifying Local Opportunities

‘We’ve had enough.’: Students organize protest on Fraternity Drive

1.     https://www.alligator.org/news/we-ve-had-enough-students-organize-protest-on-fraternity-drive/article_699fab64-d107-11e9-b2c2-b38c5b626004.html

2.     This article discusses how a group of students are working towards getting the emergency poles, or as referred to as “blue lights” installed in Fraternity Row.

3.     Students want to pass a bill that will enact the installment of emergency blue lights to not only allow the student to feel safer, but actually make it a safer place. The bill failed to pass at the end of the spring semester and as a result the students are forming a protest. They not only express their concern for sexual assault, but also for general safety in all categories.

4.     The problem is presented by the National Women’s Liberation along with students who want to raise safety awareness in Fraternity Row.

Biker caught stealing plants from Satchel’s Pizza

1.     https://www.alligator.org/news/biker-caught-stealing-plants-from-satchel-s-pizza/article_f8110938-d5c1-11e9-b240-63c79cc54825.html

2.     This article talks about how Satchels Pizza is constantly faced with a plant thief (or thieves). The owners are very upset because they love their plants and own too many to store them inside during the evenings. The owners have concluded that the motives are most likely collecting rather than for profit, but they just want their plants left alone.

3.     The primary issue here is that the plants keep getting stolen, they can’t afford a security guard and moving them all inside isn’t optimal.

4.     The problem belongs to Satchel Rae and Ashley Watkins. Taking care of plants is Ashley’s’ passion and it’s hard for both of them to see their plants taken right before their eyes.

UF Preview prices broke state law. How are they fixing it?

1.     https://www.alligator.org/news/uf-preview-prices-broke-state-law-how-are-they-fixing/article_2daeae4c-d2b6-11e9-9c0c-9fca1017f082.html

2.     The article states that UF has been overcharging students and their families for orientation for years. They are currently taking measures to lower costs and figure out how they can correct this issue for past and future students.

3.     The conflict discussed in this article is that students and their families can barely afford to attend mandatory orientations before they can even start school. The article gives the example of a mother who worked 7 days a week just to be able to attend orientation with her daughter.

4.     This affects not only the families who have to pay for the mandatory orientation but now it affects the school for violating state law.

 

 

‘There is still hope’: UF professor organizes summit to address Amazon rainforest fires

1.     https://www.alligator.org/news/there-is-still-hope-uf-professor-organizes-summit-to-address/article_d1d2dff6-cadd-11e9-9f02-378655d5f586.html

2.     This article describes the past, present, and future concerns and dangers of the fires in the Amazon Rainforest. Professor Heckenberg talks about his time spent in the Amazon and how the lives of its inhabitants will be affected if the problem isn’t corrected. He is working on organizing a summit in October that will allow multiple points of view to discuss potential solutions to this issue.

3.     The problem at hand is the fact that these fires have been burning for at least 19 years and is continuing to threaten the livelihood of those who live there. As of right now, there is no probable solution to the issue.

4.     The fires affect all who inhabit the Amazon as well as those who want and will want to visit the Amazon and experience all it has to offer.

 

Dinged up Gators look ahead to Kentucky

1.     https://www.alligator.org/sports/dinged-up-gators-look-ahead-to-kentucky/article_6065e90a-d34b-11e9-98ae-b308884d1eb2.html

2.     The article points out that UF’s win left two of their players injured and they’re hoping for the best on their upcoming game against Kentucky. Kentucky was one of the few teams to defeat the Gators last year, but the team claims that’s not affecting them in the slightest. The only thing they’re worried about is the fact that their players won’t be healed in time to play the game.

3.     The issue is that players are getting injured and not healing quick enough and it’s worrying everyone about upcoming games.

4.     This is affecting the team first and foremost, but it also worries the friends and families of the players and Gator fans everywhere.

 

 

 

Assignment 4 - Forming an Opportunity Belief: A Twist on Opportunity Identification

I find there to be a strong unmet need in the field of healthy eating. It seems that majority of the people I talk to are “trying” or want to eat healthier but either don’t have the time, say it’s too expensive, or a combination of the two. Most college students and a lot of the working class have this need. This need was revealed in 2014 when the World Health Organization released a study stating that most of the worlds obesity was caused by fast food (www.who.int). Since then, the need for quick and easy health food has become more and more prominent. Meal prepping is a trend that seems to be exponentially growing in order to meet this need, however some people grow tired of this quickly and/or lack the time/motivation to prepare every meal for the week ahead in one fatal swoop. I’m 75% sure this opportunity exists.

Interview 1: 20 year old female who goes to school full time and works part-time

1.     Has your diet changed since you moved to college?

a.     Yes, I used to eat maybe once a day but much healthier food. Now I mostly eat at work because it’s much cheaper plus it’s tasty. On top of that, eating right is expensive. I didn’t have to pay for my meals when I lived at home, eating my veggies was as simple as asking my mom to buy them when she went to the store.

2.     How is your current diet?

a.     It’s decent, I try to eat healthy when I can.

3.     How satisfied are you with yourself, regarding what you consume on a daily basis?

a.     Well I don’t eat often but I’m usually pleased with what I do eat. Lately I’ve been slacking because I’m just really busy with school and work.

4.     Do you want to eat healthier?

a.     Of course I do.

5.     Why don’t you?

a.     I just haven’t had the time lately, plus my bank account is looking slim. Usually when I cook it’s pretty healthy but who wants to make dinner when you get home from work at midnight? Not me.

6.     Have you considered meal prepping?

a.     Yes but most of the time I don’t feel like it or I have better things to do. All of my “free” time is spent studying and going to class. Meal prepping takes a long time and I’m not always in the mood to make what I’ve made for myself. The closest thing to meal prepping I do is making a large dinner and saving leftovers for a second meal later in the week.

7.     Do you have any other methods or alternatives you use in attempt to improve your diet?

a.     Yeah, I try to get lower calorie options when I go out and I try to consume as little carbs and sugars as possible. I think Chipotle and Bolay are both really good, healthy alternatives but they can be a little expensive. Usually if I eat at Blaze, I get the cauliflower crust rather than the traditional and I try to use cauliflower instead of rice. Other than that, there aren’t a whole lot of great options for healthy alternatives.

8.     Do you have any potential solutions for not being able to eat as healthy as you’d like?

a.     It would be nice if someone would prepare my food for me so I can focus on other things, but isn’t that the case with everything? I might as well get married haha. Something else I think everyone would like to see is an actual healthy fast food restaurant that doesn’t break the bank. Chipotle isn’t that pricey but it’s also not really fast food. I want like a healthy place with a drive through.

9.     How long have you felt this way?

a.     I mean I’ve always wanted to be healthier, both with my diet and my overall exercise. I’ve never really been one to enjoy fast food but I guess I didn’t really notice my need for quick, healthy food until senior year of high school to freshman year of college. That’s when I started getting a busier schedule.

Interview 2: 19 year old male, fulltime student and unemployed

1.     Has your diet changed since you moved to college?

a.     Yep, I eat two less meals a day now

2.     Why?

a.     I forget to eat a lot and I’m too busy to go to the store.

3.     How is your current diet?

a.     I rarely eat but when I do I usually throw something together based on what’s in the fridge and pantry and then I’ll go out if I’m feeling saucy.

4.     How satisfied are you with yourself, regarding what you consume on a daily basis?

a.     On a scale to 0 to 5, I would give it a 2 and that’s only for the creativity in my meals.

5.     Do you want to eat healthier?

a.     Haha yeah probably…that would be good.

6.     Why don’t you?

a.     Healthier food usually costs a lot more but I generally forget to eat sometimes.

7.     Do you have any methods or alternatives you use in attempt to improve your diet?

a.     I just need to remember to eat more, maybe a schedule or something

8.     Have you considered food prepping?

a.     Ooo no I have not, that’s actually a good idea.

9.     Do you have any potential solutions for not being able to eat as healthy as you’d like?

a.     Meal prepping is for sure a good one and creating a schedule and actually scheduling in meals.

10.  How long have you felt this way?

a.     Mainly when I first started college, but I’ve always kind of been not good at eating.

Interview 3: 21 year old male, fulltime student part time worker

1.     Has your diet changed since you moved to college?

a.     Yes

2.     Why?

a.     I started working out and cared about what I ate

3.     How is your current diet?

a.     Kind of shit because I stopped working out, but I eat pretty well when I cook.

4.     How satisfied are you with yourself, regarding what you consume on a daily basis?

a.     I mean I’m happy eating anything

5.     Do you want to eat healthier?

a.     Yes

6.     Why don’t you?

a.     Because I’m not working and since I’m not working out I feel less inclined to eat well.

7.     Is there a reason you’re not working out?

a.     Because I’m lazy and a piece of shit.

8.     Do you have any methods or alternatives you use in attempt to improve your diet?

a.     Not really, I try to choose the option that is the highest in calories so I can put on weight.

9.     Have you considered food prepping?

a.     I used to when I’m working out a lot but not lately.

10.  Do you have any potential solutions for not being able to eat as healthy as you’d like?

a.     I need to stop being so lazy, but it would be nice if there was a place that would make healthy food for me that didn’t cost a fortune.

11.  How long have you felt this way?

a.     I’ve always sort of felt this way, but especially since I stopped working out.

Reflection:

With these studies, I’ve gathered that there is definitely a need for affordable, non-time-consuming to obtain. I was surprised by how little the students wanted to meal prep and even more taken back by the fact that one of them had never even heard of meal prepping.

Summary:

I still strongly believe that the need is now more prominent than ever. I’ve talked with many people about this issue but never had the chance to formally sit down and actually discuss the issue. 2/3 of them suggested a restaurant that was healthy and not expensive which is in popular demand nowadays but seemingly impossible to achieve which further proves my point. Not only do I see an unmet customer need but a potential business if I can figure out a way to keep the cost of health foods to a minimum. With that being said, I’m not sure if offering healthier options would improve the business model of restaurants since it would only benefit those who eat there out of convenience rather than sustenance. However, I do believe that potential and new business should try to focus on providing healthier foods since it is a prominent unmet need.

Assignment 3A Entrepreneurship Story

From junior to senior year of high school, everyone had to work on a business plan and present it to Citizens First Bank and the top three winners received scholarships. After an immense amount of brainstorming, I came up with an idea that I called E.O.I. which stands for Eat Out In. Essentially, it was an app I was going to create for people with busy work schedules who didn’t always have time to go out for lunch or didn’t want to limit themselves to ordering pizza or Chinese every day. I pitched the idea as “Uber for Food.”

Most of my classmates thought the idea was great considering we weren’t allowed to leave school for lunch, and everyone was tired of the cafeteria. My teachers agreed that they would like to enjoy more than their leftovers as well. My parents were ecstatic about the idea and told me they once had a similar idea for grocery delivery, but it never worked out. All this support was really building up my self-esteem and motivation to make this more than just a school project.

The judges shot down my project due to a few errors in my math as well as my business partner not knowing what was going on (he never really did any work; he was just along for the ride). Although this brought my spirits down, I still though it was an expert idea for a business. In the end, I just didn’t have the time or funds to get the business up a and running, I was too busy with work, athletics, and finding a college to really commit to a whole business.

A little less than a year later, UberEats was launched and my heart broke. I couldn’t stop thinking about how this was my idea and how this should have been my business. With time, I learned that that’s just the way the news goes, and another entrepreneurial opportunity will open up for me eventually but to this day I still refuse to use UberEats. I can’t find my exact logo, but it looked similar to the image below.

I’m taking Entrepreneurship in order to gain more insight on becoming an entrepreneur. I think I have what it takes to own and run my own business, but I would like to expand on my entrepreneurship skills. I honestly wasn’t sure what I was getting myself into when I enrolled in this class but I’m so happy I did. I’ve already learned so much from Professor Pryor and I can’t wait to continue on this journey.