29A - Venture Concept No. 2

Opportunity:

• Today's college students tend to live a busy life, unable to make healthy eating choices because they simply don't have the time to make the food or the money to pay for it. They also tend to eat I believe an opportunity exists for fast healthy meals designed specifically for college students at a low cost that are open late.
• According to a recent study published in the Journal of Nutrition Education and Behavior, over half of college students (59%) have high levels of "food insecurity". This means that they have limited or uncertain availability to healthy foods due to high costs. To compare this to all households in the United States (only 14.9%) we can see that the biggest problem lies in the lives of the college students. This can lead to a greater risk for malnutrition. High food costs, limited income, and poor food support systems are contributing risk factors of food insecurity.
• The need is for college students to be able to afford quick and healthy meals so that they can continue their educational lives as well as continue to get the nutrients they need to be active and healthy. 
• The forces that allow this to occur are a lack of funding, lack of time to make food, and lack of knowledge about the benefits of healthy food. This causes a window of opportunity to remain open until all of the factors are resolved. 
• There is a no current satisfactory resolution to this need. Many interviewees complained of the high price of healthy food, as well as not having enough time to cook during the day. They also complained that most of the restaurants that do have fast food options or delivery services do not have healthy meal options. If these interviews showed a good representation of student populations throughout the country, than there are many people that are struggling with this issue and many of them are willing and open to looking at a new solution. 
• Potential customers are college students who are confronted with jobs, a heavy work load, and a social life. They may have many things that they come across throughout the day that cause them to be unable to cook themselves healthy meals, and they also may not enjoy eating out at unhealthy restaurants.

Innovation:

• For individuals with limited budgets, the food options will be priced very reasonably. Students with a college ID will receive a discount. There will also be a loyalty program for those who eat there often, and a discount if multiple meals are ordered/delivered per week. There will also be an option to get the food delivered cooked and uncooked, with the uncooked version being cheaper as well. An example of an uncooked meal getting delivered to the house will range anywhere from $6-8 depending upon the meal. This is a great option and great price for a full meal with healthy, organic foods. 
• For individuals with a tight schedule, the delivery option will be available for the food services. Some may prefer to have the food delivered to their apartments/houses every week, or twice a week, while others may prefer to pick it up at the restaurant daily. 
• Businesses with larger budgets may purchase food for catering which will be able to be delivered the day of, or if it is a large order placed ahead of time. This will allow the companies to host fast food for company events that have healthy choices and options. 

Venture Concepts:

• Individuals will buy this product if they are concerned with eating healthy foods in a quick time manner. They will be able to purchase the food in store, online, or over the phone.
• Businesses will buy this product if large quantities can be purchased at discounts and it provides a healthy meal option for large meetings or conferences. With the variety of food options that will be available, all businesses should be interested in this product.
• The term "Switch" is applicable because there are other alternatives to this product. Some individuals may prefer cooking their own food and not like eating something that was cooked by others. Some other students may still run into price difficulties depending on the funding that they have available. 
• There are a few major competitors, however the competition will be limited due to the cheap price of the product.

Price Points:

• If the price of the food is too expensive, my other competitors will have a better chance of getting customers that I could have had. The price must make a minimum profit, with the hopes that the great volume of students will bring in the most money. 

Distribution:

• I will first distribute this product to students at college campuses. As this starts to take off, I will start to expand to other individuals such as families and businesses. The ability to be able to market on college campuses will help the product grow greatly. I will be able to attend events with samples of the product and coupons to entice students to go to the restaurant.

Customer Service:

• The customer service to the students and other individuals will be the most important concept of this product. As the owner, I will focus on the customer service instead of managing the product. It is more important to me to hire others to manage and spend time focusing on what make the customer happy. 

Location:

• The first restaurant will be close to college campuses and bars. There will also be a delivery service between a certain radius as well as an online ordering system.

Employees:

• To begin, there will be minimal employees. I will continue to hire employees as the product grows, hopefully expanding the restaurant to other college towns. To begin, we will need cooks, managers, cashiers, delivery, and marketers.

Feedback/Changes:

• I will make sure to include more about other individuals and businesses instead of just students. Although they will be the main focus, they alone will not be able to fund this product.
• The location of the restaurant will be vital to the product as well as the delivery service. 
• The price of this product will also be important because there are other competitors in this industry.