After much thought, I realized that it was quite difficult to analyze what would be next for my venture, especially when I still haven't created my business. Ultimately, I decided that what would be next for my venture would be expanding my healthy food truck business to areas outside of the main UF campus.
Recordings:
I still believe that my idea for expanding my business outside of campus would work, the feedback from potential customers is definitely encouraging. It certainly makes sense to expand to outside areas from campus because there's not many students that remain on campus past their freshman year, so it would be difficult to keep customers if they can't order my company's service. This would allow people to still order my food trucks even when they move out of the dorms, and I will hopefully have a good retention rate of customers.
Furthermore, I would probably expand to areas near midtown, near the apartment complexes on archer rd, and to the areas near 34th and 2nd ave. These are areas outside of campus that are predominantly resided by college students, so expanding to these areas is not a matter of if but when.
New Market:
My current business idea revolves mostly around the needs and wants of college students, who tend to be between the ages of 18 and 25. So, a possible new market that I want to explore is trying to attract and older age group, the people that actually live in Gainesville and that are above the age of 30.
I think I would definitely have to either change my hours of operations (currently planned to be between 8pm-3am) or expand my hours of operations to better cater to people above the age of 30. Perhaps by expanding my hours of operation to include lunch time, so this age group can order on their lunch breaks at work.
Recordings:
I got some great feedback from one of the customers, loved the idea and thought it was good to expand to other age groups instead of just college students and he went on and on, which I really enjoyed. The the second one didn't seem to understand my idea at first, but did like the idea of offering healthy food. The third gave me a very simple answer of "yes I like it!" Although this is only feedback from three people my interviews didn't go exactly as planned, so I should've definitely worded it differently.
I feel like it is still something worth exploring, but definitely in greater depth than just 3 interviews. I still like my original target market better, and I still see it as more profitable. Especially when considering that I understand my generation better than the previous one.
Hey Gabriel, I really enjoyed your post. It seems like you got some great feedback on your idea, especially from the new market. Since you still feel you need more information, maybe you could try and interview a couple extra people and see what they think. Hopefully this will give you a better overall understanding of your new venture. Feel free to check out my blog here: http://matthewent3003.blogspot.com/.
ReplyDeleteHello Gabriel,
ReplyDeleteIt seems like you got some great feedback from this new potential market. I believe there is definitely an opportunity there, but if you feel like you need more information you could interview more people and see what they respond. Also, as you said, try to formulate the questions in a more explicit and clear way so you can get valuable feedback. Finally, if you feel like you are better off with your original market, that is great too. You always need a place to start, and students is definitely a profitable move.
Hi Gabriel!
ReplyDeleteI like the idea of expanding your services to other age groups, and offering lunch seems to be a great way to spread brand awareness and establish a loyal customer base. Maybe you could go to large businesses and have a discounted lunch for their workers, getting your name out there while showing off your great food. As you stated, there is definitely more research that needs to be done, but you are off to a great start.
Thanks for sharing! Here's a link to my blog if you want to check it out. http://jamestyrrell.blogspot.com/
Hello Gabriel,
ReplyDeleteFirst off I love your idea because I am a food truck enthusiast and I know that your idea will attract many people because its fresh, new and people love food trucks. I like the fact that you also want to expand beyond campus because it is very true that many people move off-campus after freshman year. I think that once you expand your market will also grow and that would be great for business. Good job!
Hey Gabriel, you did a really good job on this assignment and got some great feedback from people. I also liked your idea concept and think you would get a lot of customers if you were actually going to create such a business. Moving your business off campus will certainly expand your customer base and your revenue. Unfortunately, I was not able to complete this assignment, here is the link to my blog, feel free to check it out
ReplyDeletehttp://ent1646.blogspot.com
Hi Gabriel, This is really great. I like the idea of a food truck and I like it even better off campus(I live off campus). Its funny that your market expansion is onto college campuses because mine is in a sense, going into college campuses. I also had people who just didn't seem to get my idea. I agree with the idea of offering lunch to help with loyalty. you should check out my what's next http://imalsonotadoctor.blogspot.com/2016/04/whats-next.html
ReplyDeleteHey Gabriel! I think your idea is very solid because there's a lot of people that enjoy food trucks. It sounds like you got a lot of useful information, and could probably use a little bit more if you feel that way. I think if you expand off-campus you will attract from both the student base that lives off-campus and locals that don't venture onto the campus. Check out my blog at: http://sowersent3003.blogspot.com/
ReplyDeleteHey Gabriel! I think your idea is very solid because there's a lot of people that enjoy food trucks. It sounds like you got a lot of useful information, and could probably use a little bit more if you feel that way. I think if you expand off-campus you will attract from both the student base that lives off-campus and locals that don't venture onto the campus. Check out my blog at: http://sowersent3003.blogspot.com/
ReplyDeleteHey Gabriel, I first want to say that healthy food that travels is an awesome idea. People always need more food! Also, I think that your expansion ideas are very well defined and would be very beneficial for your business. Great job!
ReplyDelete