29A Venture concept 2

1. Venture Concept
Opportunity
More and more people are doing what they can to eat healthy foods without breaking the bank. The target market consist of college students (since they usually look for ways to improve their diets and don't have a ton of money), vegans, and vegetarians because a lot of restaurants don't have a wide variety of alternatives for those who don't eat meat or any sort of animal byproduct. College students currently satisfy the need of being healthy by cooking themselves or by going to healthier places such as Chipotle or Bolay but they can get expensive and neither of them have a drive-thru. Vegans/vegetarians also solve the need by cooking or going to restaurants that do offer alternatives that they can eat. Chipotle and Bolay both offer vegetarian alternatives but there isn't a lot of variety. I think this opportunity has a lot of potential and will be prevalent until there is a fast, cheap way to have a healthy diet as well as cater to vegans/vegetarians. Another potential group of customers are parents. Parents often worry about what their families eat and want their kids to be as healthy as possible. Many parents settle for unhealthy fast food because it is cheap and easy, but imagine having the same opportunity, except much healthier. 

Innovation
The process used to keep the food healthy, cheap, and fast is a simple one. Most restaurants get their food delivered to them 1-3 times a week but those places freeze their ingredients. Ordering from Florida Food Service every day will allow the food to be fresh and the delivery costs to be cheap since having every day deliveries discounts the overall price. All food will be made on a daily basis, multiple times a day in order to keep it fresh. Prep employees will come in around 6 a.m. to prepare food for the day (e.g. premake veggie burgers/nuggets, prep low-carb bread dough, spiralize zucchini for noodles, etc.). Prices on the food items will be slightly more expensive than your traditional fast food places based on our high quality combined with our speed. For example, a ten-piece of nuggets at McDonald's is $4.49 and our veggie nuggets will be around $6 but will be given to the customer in the same amount of time. Prices for rice and veggie bowls are generally $7 to $8 at Chipotle but will be around $6 to $7 at my restaurant. I would also like to provide heathier beverages such as fresh juices, teas, and maybe healthier sodas rather than sugary drinks like normal sodas and lemonade.

Venture Concept
My business will allow prospect customers to save time and eat healthily on a budget. Customers that want to improve/maintain their diet will choose my food over competitors' because it is healthier and just as quick, if not quicker. Those who don't eat meat or any animal byproduct will also choose my restaurant because we will have a variety of options to cater to their needs and it won't be too expensive. I don't think it will be hard to get consumers to switch to my product since many people only eat fast food out of convenience and not for the nutrition. I think they will switch because it meets the needs of quickness, affordability, healthy, and we offer vegetarian options. My competition for quickness consists of local fast food restaurants such as McDonald's, Burger King, Wendy's, etc. but their weakness lies in their lack of nutritional food. Competitors for healthy food are Chipotle, Bolay, and Whole Foods but they don't have a drive-thru option and they are more on the expensive side. Gainesville is a good location to have because there are a wide variety of college students and families here which makes up most of my customer base. On top of that, more and more people are switching to a meatless diet. Price is also a major factor because because half of the selling point is it's one of the cheapest health foods around. In the mornings, the restaurant would have 4-5 employees for prep-work from 5 a.m. until 11 a.m. From 10:30 a.m. until 4 p.m. I would have around 7 employees working and around 8 employees for the evening. The business will be open from 11 a.m. to 10 p.m. or until supplies run out for the day. There will be 2-3 cashiers, and 4-6 cooks in the kitchen.

Three Minor Elements
I have to very important resources. The first is my ample amount of funds and advice my former CEO grandfather will be willing to give me. Most start-ups aren't lucky enough to have a surplus of funds nor proper advising, raising my chances of success. The second is the fact that the food will be fast, healthy, and pretty affordable. The combination of these three elements will be hard to replicate because of the unique deal I have worked out with the supplier as well as the hard work it will take to keep the high quality of freshness and affordability.


The second opportunity I would want to tackle would be opening more locations and/or changing the menu based on customer desires. I think more locations will give a broader audience the ability to have the food and changing the menu based on customer wants will give more people a reason to purchase and enjoy the food.


In 5 years I'd like to have 2-3 successful locations with this restaurant and I'd like it to be very popular with the Gainesville crowd. In the next decade, I'd like to be working on expanding this venture even further or working on a new and innovative venture to assist people further with being healthy and/or improving their lives. The first venture will teach me a lot about customer likes and dislikes, allowing me to tailor future ventures to meet the needs of the people.

2. Feedback Summary
Everyone seems to love my idea and discusses how they think there is a big need for this restaurant since kids our age are always looking for something new to eat, something healthy, and don't have a huge amount of money. People also question how easy it will be to keep my prices low and still make a profit. Everyone loves the idea of targeting vegans and vegetarians since this is a growing trend as well as the idea to provide healthy drinks that are more than just water and Powerade. They also liked my 5 year plan. I was also told I should expand more on my opportunity section.

3. How I've Changed
Based on my feedback, I expanded more on my opportunity and added a new target market. I also incorporated my idea for healthier beverages in the innovation section. I continued to address my prices and how they compare to my competitors as well. I kept everything else the same because my feedback was very positive about elements such as my 5 year plan.

4. I included this photo because I think it's important for entrepreneurs to shoot their shot otherwise you'll never know if you'll succeed.