Thursday, July 21, 2016

Venture Concept No. 1


 To introduce my venture concept, it is simple and clear. I believe that food industry is important in past, current, and the future. To give a detail about it , there are trend for preference of food. Now and the future, I am 100% certain that well-being food will important in food industry. The opportunity for this concept, many people want live healthy and long. They might be doing the exercise, try to get less stress but it will focus on the food what they eating. It has strong advantage for geographically because food exist everywhere. For example, we can talk about the rich country as United of America. Now in United of America, fast food is serious problem. Even United of America is rich country, many people enjoy high calories food such as hamburger or pizza. In contrast, poor country such as Africa, they usually starve because they do not have enough food. Therefore, they need well-being food for their health and basic nutrition requirement.
However, many young people looking for well-being food. It has several reason why they are satisfying this need. First, they want to do a diet. Well-being food is the most easy and fast way to do a diet. Many young people are doing a diet because of good shape. Second, they want to live healthy. Now the technique of medical treatment is developed so many people live long as one-hundred-years old. To live long for healthy body, food is most important. Therefore, they are caring what they eat. The opportunity for this market is unimaginable. In human life, we can not exclude the food. It means every people in world will the target for customer. In my opinion, window of opportunity in well-being food is already start. Many people try to eat healthy and avoid fast food.

Now, to talk about my innovation in this industry is clear. Good nutrition food with fair price. I want to do my business for well-being resturant. My strategy for this business is try to sell the product cheap. Most of the food ingredients will be fruit and vegetable so it is important to make good contract with farmer and provider. It is important step because it depends to sell the customer with good quality of product. Mostly, food business are similar. However, my core competencies is the menu. I will do my own business in hot weather states like Florida, california or Texas. I will make an slush for milk with power of grain or ape diet. The price of product will not expensive. I might decide less than $4. The name of the store is also important because it should be easy to remember. Also, the place is important because it should be easy to find and easy to park. However,  it also has a risk. If buyer unmet need is menu, it has serious problem on profit. Therefore, to make the loss less, try to do an survey what the customer like and dislike. I will start the business in Gainesville first. The reason I want to start here is Gainesville doesn't expanding of food market yet. Also, there are lots of students and senior citizen that I want to target to sell the food. Why I chose the target for student is they have not enough money to buy expensive food. It is also why they buy fast food. I can get an advantage for price and taste better than fast food.

The three minor elements:
My "unfair advantage" is creative. The key point of grain milk shake is pouder. It has secret source that I only know. Also, I will make the food for Korea style in America so it will interesting. For my next venture, it will another menu for well-being. I will make the soup with dough which include vegetable. After five years with this venture, I want to be make a company. I want build the store such as poor country and try to give them food for free. It is my "next step" for the venture.

4 comments:

  1. Hey Jooncheol,

    Given what you're trying to do, I definitely agree with your comment on the importance of fostering good relationships with farmers and supply companies. However, if this is in fact a growing trend, your business would need to differentiate itself from likeminded companies. Shakes and other similar foods are fairly commonplace, but if you can deliver on your claim of lower prices, you could separate yourself from the Jamba Juices and Smoothie Kings of the world.

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  2. Jooncheol,

    You are on to something. Good nutritious food is becoming more of a demand. Consumers like myself really are looking at what is in our food. I think you are looking in the right direction just need to refine the small details. Keep up the good work.

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  3. Jooncheol,

    I have loved reading your posts this year, and I am glad that you have been able to come up with a concept that is so detailed and complete. I completely agree that networking and relationships will be the most important value of this idea in order to receive your desired goals. Keep up the great work!
    David

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  4. Jooncheol,

    I really like your idea of a health food restaurant with affordable prices. Its so easy to eat fast food because its very affordable. Healthy alternatives are often priced out of accessibility for college students. I hope to see your idea take off! Great work.

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