Tuesday, April 19, 2016

Venture Concept #2


Opportunity: 
 If you have sat at home, belly empty and grumbling, so hungry that your stomach is literally screaming for attention then my product is like a match made in heaven. My product the "I'm Hungry" app, of which is available on multiple platforms, is designed directly for college students that live on or near their campus. This service is meant for those who do not have access to a car or reliable transportation to the grocery store but it isn't limited to just them. For instance, if you do have a car but just don't have the energy to get out of bed, trust me I have been there, with a simple click through my app you will have the ingredients needed to make a perfectly nutritious meal. The reason why I am offering this service is because I saw an opportunity. When young adults come to these college campus the excitement of living on your own and finally being away from parent supervision leads them to overlook certain details about being on your own. One detail being that now you are responsible for feeding yourself. When I got to college, I was ill prepared and the first week I was here I ended up getting really sick. Part of the blame I put on not feeding myself the proper nutrients that a growing adult needs. I had no idea what to cook and how to cook it. I have always had the assumption that a hot and ready meal will be ready for me when I get home because that is the luxury I have been living in but when I got to college I was sadly mistaken. Then I thought, "Why not just get fast food all the time?". The reason is clear, this will make you fatter than you ever thought possible and will also cost you a fortune. 
Innovation:
This is where my product comes in.  It is meant for those kids who just don't understand what it means to be a young adult and they need a little help. The service I am offering is an app that would be available across multiple platforms. This app harnesses a plethora of recipes that will list the exact nutritional make up of each ingredient. The consumer will be allowed to search through each and once they find something that is interesting, with a clock of a button, they can have the exact ingredients delivered to their doorstep. How does this happen? This is where the magic happens. This is where an employee of mine will actually go to the grocery store and shop for you. They will pick up the exact ingredients and proportions of each that you list. Then once picked up, they simply drop off your ingredients and you can get to cooking. Now you might be asking how will food being delivered to someone who doesn't know how to cook help them? Easy! Within the app you have the option to read the recipe and it will tell you step by step, with video descriptions, on how to cook each ingredient. With today's increased technological presence this app allows for the simple transition from child to a young adult that can take care of themselves. All you have to do is pay for your groceries through an online portal and then pay the delivery fee, this is the revenue that my company will use to hire drivers and allocate to resources. 
 Venture Concept:
Now step back, How does this sound to you? Pretty good huh? Exactly, with this product you won't ever have to wait in the long lines of Publix or have to deal with putting on pants so that you look "appropriate" out in public. Why listen to the nags of others that you are wearing your pj's out in public when you can just stay in and still get food. Additionally, the benefit of ordering groceries instead of ordering fast food or delivery food is endless. To start the health benefit of cooking over eating processed food like burgers will help a college student eat nutritious. Being a college student is tough. Having to deal with juggling your studies and also having a social life can get tricky, so don't let the ease of having fast food get to you because the freshman 15 is real. Instead, order groceries, have ingredients to make a delicious and nutritious meal delivered to you so that you can learn how to cook and how to take care of yourself.  At first this may be a hard task to ask college students but eventually (once the money runs out) I have all the reason to believe that my service will be beneficial. My competitors would be other delivery services such as Domino's or Papa John's but the nutritional value of the products you can by with my service compared to delivery food is very one-sided being groceries having the upper hand.
Three Minor Elements:
1. My  most important resource would be the laziness of college students. Let's be real if you were told that you didn't have to do something you didn't want to do for a small fee you will probably take that offer. This is the case for groceries, no one likes going to the grocery store. It seems you always see someone you know there and you are always bogged down by the long lines.
2. The next thing for my company would be to research into proper transportation for hot and cold items. Currently I would see having a cooler to be our number one tool when transporting ingredients but what if we could deliver things hot too? Say for instance someone orders a steak meal and for them we heat up the steaks, or get them ready. How can we do this? My idea would be to invest in a warmer or an oven like cooler sized instrument that can store food during the transportation to your doorstep.
3. In five years my company has so much potential that it could be a household name when discussing useful apps. One day this service may not be limited to college campuses and perhaps bigger cities and deliver the food to residential neighborhoods. In five years my biggest goal would be to partner with the university to ensure that college students know about my product. I think getting my name out there is my biggest hill I need to climb in order to be successful. 
Reflection:
Overall my feedback on my product in almost all of my blog post was that this product has a huge demand base. If only I had the capital and resources to actually make this plan happen. I think that most people saw that they could be delivered food without moving and said immediately said it was a good idea. It's quiet simple. In order to satisfy my targeted demographics, college students, I have to cater to their laziness. Unfortunately because all the feedback I received there was no actual business concept of mine that I saw to be flawed.  One thing that I wanted to clarify based on feedback was that this is a healthy alternative and a cheaper alternative than eating fast food all the time of which one person insisted on doing. 

4 comments:

  1. Hello, I think you did a great job on this post! The detail you used was amazing, and your idea sounds great. I also wish you had the capitol and resources to make it happen, maybe someday? Feel free to check out my blog at http://ufclassblog.blogspot.com

    ReplyDelete
  2. Hello Kevin,

    This was a really great post. I highly enjoyed reading about your unmet need and your overall concept. I also think that your idea would prove to be successful, especially in a college town where there are a lot of people in a small area, but not everyone necessarily has a car. Overall, great job. You can check my post out at http://bradksingh.blogspot.com/2016/04/venture-concept-no-2.html

    ReplyDelete
  3. Hi Kevin! First, let me say how I really enjoyed how well-spoken (or written) you are. I think that will go a long way as an entrepreneur, or whatever field you do decide to go into. Being able to communicate your ideas well while also being engaging and entertaining is one of the most useful traits someone can have! Also, I think there is definitely a market for your company. Even those of us who know how to and enjoy cooking don't always have time for a thorough meal, it's part of the busy college lifestyle. So I think your business definitely has potential! Good job!
    Check out my venture over on my blog!
    http://ent3003max.blogspot.com/2016/04/venture-concept-no-2.html

    ReplyDelete
  4. Kevin,

    Your idea is creative, I give your that. I think you've given this idea quite a lot of thought and honestly could take off with it. I see startig with college towns and universities as just the beginning with this sort of app. There are, however, a few other apps in the works with similar schemes, if not completely identical ideas. The race begins now my classmate! From the detail and effort I imagine you've thrown into this venture, I think you've got your goals set and walking into it with the right mindset. Keep up the good work.

    Check out my post at:
    http://flytyguy.blogspot.com/2016/04/venture-concept-no-2.html

    ReplyDelete