19A - Idea Napkin No. 2

1) You. Who you are. What your talents are. What your skills and experiences are. Also: what are your aspirations? Specifically regarding your business concept, how do you see this business (if you were to start it) playing a role in your life?

I'm a 4th year Construction Management major graduating in May 2018. I enjoy playing a variety of sports that include competitive shooting and competitive horseback riding. I also have an interest in motorcycles, which helped spark my interest in entrepreneurship. Upon graduating, I have accepted a full time job in DC with a commercial construction general contractor. While in DC, I hope to explore outside of the construction industry and use my passion for entrepreneurship to grow and pursue new ideas. I think a business like my idea would be very successful in DC, because every seems to be very busy and do not have a lot of extra time for healthy eating and cooking meals. If i had the opportunity to start this business, I believe it would greatly impact my life as I find myself having these same needs. 

2) What are you offering to customers? Describe the product or service (in other words, how you'll solve customers' unmet needs). 

I found an opportunity for students that have busy schedules and actives lives to be able to afford healthy and fast food options instead of the unhealthy options that we often go to because they are cheap and open late. Creating a drive-thru fast food restaurant close to campus that you can get quick and healthy meals at would be a great opportunity for this problem. The restaurant would be open late and would also have a delivery service. The restaurant would be open to everyone however they would offer a discount to students. I would also have a constantly changing menu to insure that all different types of healthy foods were being incorporated and that students always wanted to go and didn't get tired of the foods that were being offered. The delivery service would be cheap and would also run until the restaurant closed. I believe that this has not changed much, the customers unmet needs remain the same and my opportunity to solve them has remained the same.

3) Who are you offering it to? Describe, in as much detail as possible, the demographic and psychographic characteristics of your customers. Think especially of this question: what do your customers all have in common?

Active and busy college students would be the biggest push at this company. Since it is located close to campus and students get a discount, I believe they would have the biggest affect on the company. However, the business would be open and intriguing to people of all types. The only people that would not find this idea useful would be those that enjoy cooking their own meals and not eating out and those that enjoy eating unhealthy. What all of these customers have in common is that they all have a desire to buy inexpensive, healthy and affordable meals. 

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. 

Customers would care about this service and pay for it because it would offer them the opportunity to eat healthy and in a quick and cheaper manner. With a constantly rotating menu, I think students and anyone who decides to eat there would be intrigued to come back multiple times a week, or even get the delivery service. I think students especially will care because they tend to have busy lives and are involved with more than just school. Some students work full time and go to school full time, and they simply do not have time to make meals for themselves. 

5) What are your core competencies? What sets you apart from everyone else? Also: what do you have that nobody else has? 

I believe that what sets this business apart from other similar ideas and businesses is that it specifically targets a student population and offers discounts and rotating menus. There are some healthy meal delivery services already in place, however I have not seen one that functions as a restaurant that is open late as well as a delivery service. I think these bring value to this idea. 

Evaluation:

I believe that these elements of my business idea fit together. I think that each concept fits with the other to make a product/service that will be successful in many different places, especially in college campuses and big cities. I think that the most important thing to the success of this business is that I keep the prices low, the menu changing, and make it quick and easy for people of all needs to order food and have it delivered to their homes.

Feedback Memo:

One of the points that I took away from the feedback that I received is that the customers will have varying needs and that it will be important to take a variety of needs into consideration. Another important point that I took away is that not all people will be interested in my product because some people enjoy cooking and do not like to eat out. I incorporated my feedback into this idea napkin by looking at the questions from a perspective after my second set of interviews. The answers did not change very much, however a few more points can be added.