1) You.
With this business I'd like to start locally and eventually expand it out to encompass all fifty states. Starting locally will really allow me to curate recipes and ingredients offered to the customers taste and adds a type of personal touch. I think this business is an extension of my own love for cooking and will allow me to express my creativity. At the same time it fills a need in the market and could even become a good source of income. My name is Mohamed as you probably all ready know and I think my prior experience working in restaurants as well as helping my dad with his business should come in handy here.
2) What are you offering to customers? .
In a few words it's a website and or app which makes ordering recipes and accompanying ingredients as easy as pressing a few buttons on your keyboard. On top of this it offers options for many different groups such as Muslims, Jews, and Vegetarians. The long term goal is to pair with restaurant owners in the are thus expanding current dining options.
3) Who are you offering it to?
Like previously mentioned groups of people who have dietary restrictions due to either lifestyle or religion. The age range is defined as college students.
4) Why do they care? Your solution is only valuable insofar as customers believe its valuable to them. Here, explain why customers will actually pay you money to use your product or service.
Since these people live super on the go lifestyles and have dietary restrictions their only option is to cook at home. This makes that process more convenient and eliminates
5) What are your core competencies?
While their are definitely things like grub hub they deliver already prepared foods and are thus don't really compare with my service which delivers ingredients and recipes. Blue Apron would be our biggest competitor but it doesn't specifically cater to customers with dietary restrictions.
In addition to these five elements, please spend a paragraph evaluating whether you believe these elements fit together or whether there are aspects of your business concept that are weaker / out-of-joint with the others.
I think the general premise of the business is concise enough for it to work. Partnering with local restaurants would be the most challenging aspect since they have to identify a benefit besides a larger customer base. Another big hurdle involves getting suppliers to give the ingredients at a good price.
For the "feedback memo" -- please summarize at least two main points that you took away from the feedback you received. Also, please describe how you incorporated the feedback into this idea napkin.
The feedback I got on the last idea napkin was really positive and didn't specify much room to improve. That being said I've noticed that my pitch needs to be clearer as in some posts people found the idea a bit unclear. The overall idea evolved since conception with a narrower demographic and individual ingredients selection.
Mohamed,
ReplyDeleteI like the way you literally sketched out a napkin to pull your thoughts together. You are clearly putting a lot of thought into these assignments and it shows!
Two ideas came to my mind after reading this idea napkin:
1) You could create a blog or vlog or YouTube channel that creates your brand identity and starts building awareness and a following for the recipes you’d offer. Alternately, you could team up with existing bloggers/vloggers who already have a following with your target audience, and you could request to do a feature on their site, or ask them to include a recipe or food-prep demonstration.
2) The demographic map that Dr. Pryor showed in his course lecture would be a useful tool for you to identify target locations. It could be that there are only a handful of target geographic markets (ie, Dearborn, Michigan is one that comes to mind) and it would be more cost-effective to exploit only those target areas where the most concentration of your target consumers live.
Susan
Hi Mohammed!
ReplyDeleteGreat work as usual! I think you're really smart for wanting to start locally instead of jumping the gun and expanding outside of Florida, and I also appreciate how you one day have the goal of expanding throughout the entire nation. Always dream big. As for your actual concept, I like how you kind of make the customer feel special because your specifically catering to their dietary needs. That's definitely a strong selling point.