Assignment 19 - Idea Napkin No. 2

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1) Me

I am Emilia Gschossmann, a third-year international business student at UF. When I think about my talents, the first things that come to my mind are that I am quite good organized and that I can manage things very well. Those are very general talents that help me along my way.
I am very interested in Tax and Accounting and did three internships in this area of business, in order to gain more experience. My aspiration in life is contributing something to a more sustainable future. This goal is also one of the reasons why I started to eat vegetarian because it is much more economically-friendly. Thus, my business idea would fit very well into my life and it could help me achieve my personal goals.

2) What I am offering to customers

I offer customers a fast-food restaurant/food-truck, where they can choose between vegetarian meals and food with meat. In addition, all food options are supposed to be very healthy, e.g. instead of a hamburger with an ordinary bun, I would offer hamburgers with lettuce wrapping. This fast-food restaurant should be located centrally, in the neighborhood of clubs and close to the campus. Furthermore, the restaurant will provide food-delivery.

3) Whom I am offering to

My target group encompasses students and young people between 17 and 25 years as well as families. Young people often don't have the time, skills or equipment to cook and enjoy going to fast-food restaurants for grabbing food. Furthermore, there is an ongoing trend among young people (especially the Millenials) to pursue a healthy lifestyle and to try to live environmentally-friendly. I think families make up a target group as well because many parents try to give their children healthy food. As family life is stressful sometimes, parents tend to go to fast-food restaurants as a quick and cheap way to provide dinner for their family.

4) Why customers care

I think customers would value my vegetarian and more healthy fast-food restaurant because it provides food that is better and more satisfying than ordinary fast-food. It makes customers feel better after consumption and doesn't make them regret their choice of food. In addition, customers can align their food choice with their wish to contribute to a more sustainable environment. That would make them feel even better.

5) My core competencies

I think the core competency of my business will be the quality and healthiness of food. That's the most important aspect. But even the highest-quality burger is nothing if it takes 20mins to serve it. That's why my business combines high quality with excellent service. Ordinary fast-food restaurants typically focus on being very quick in serving meals, but oftentimes it's on the cost of the quality of food. Thus, the combination of high-quality food and short serving time should definitely be one of my core competencies

6) Fit

I think all five above-mentioned parts fit together very well. Especially the aspect, that my business idea can contribute to my aspiration in life. It will be even easier for me to put a lot of effort into my business when I know, that what I am doing contributes to a better and more sustainable world.

7) Feedback memo

1) Due to the feedback I  received on my business idea so far, I changed the setup of my business from a B2B to B2C. That means, I won't produce vegetarian food and sell it to fast-food restaurants, but I will open up a fast-food restaurant by myself and sell vegetarian and healthy food there.
2) Many people told me that my skills and abilities would match perfectly together with my business idea. The ability to organize and manage things is essential for running a fast-food restaurant with a high quality of food and service. Due to this feedback, I incorporated those skills and abilities in my second Idea Napkin.

Comments

  1. UnknownNovember 3, 2018 at 3:16 PM

    Hello,
    I think the feedback that you received was great because I think opening up your own business would be great and more beneficial. When you become successful you can grow your restaurants as opposed to just selling it to fast food chains. You can give yourself a name and become bigger.

    ReplyDelete

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