29A – Venture Concept No. 2
1. Throughout this course, I have turned a simple idea into a grand and achievable vision that I could see becoming a reality in the near future. Stacked is a concept in which I have developed that will serve as a customizable fast-food restaurant in which customers build their own breakfast platters. When pondering on different problems in my life, I thought about the lack of good breakfast food that is open late at night and does not require you to sit down for a full meal in which you have to tip a server.
In the Gainesville area, I recognize that there is a great need for a breakfast place that is open extended hours into the night and early parts of the morning. There are no places like Stacked Downtown and people are constantly looking for new foods to try after going out. College students are always seeking out cheap new foods and Stacked will have many affordable options since breakfast foods are not that expensive. I have already spoken to so many different groups of people about this idea, and so many of my peers have expressed interest in its opening.
The concept that I have developed is very innovative as there is not currently a place in Gainesville for people to build their own breakfast platters nor a place that serves breakfast food at a counter beyond typical breakfast hours. The restaurant will be set up in a way that is similar to places such as Grill Fresh, Bolay, and Vale in which people choose different sizes to build their bowls. The bases for the platters will include foods such as pancakes, waffles, biscuits, French toast, regular toast, bagels, and crepes. The next step will include choosing a type of protein. These proteins include everything from fried chicken to any style eggs. Finally, people can choose their sides and toppings. Sides will include foods such as fruits, bacon, sausage, avocados, lox, (up-charge), hash browns, home fries, and more. Sauces will also be available such as hollandaise, syrups, chocolate sauce, etc. The bowls will be priced based on how much people get of each category. The large bowl will cost $12 and will include two things from each category. The medium platter will cost $9 and will include 2 bases, one protein, and one topping. Finally, the small will include one thing from each category and will cost $7. For people that are more interested in simple snack options they can request items on their own such as a pancake after a night out. These prices will be determined based on how much it costs to obtain the resources but will be fairly cheap for college students. The goal of the restaurant is to make the options the most convenient and flexible for the customers because I want the place to have a reputation of being able to be customizable and affordable. These are two qualities that I value as a college student on a budget that wants to make the most of her money.
I am confident that people in their twenties in the Gainesville area will be very fond of this restaurant and will want to go to it during various hours of the day because it combines two things that college students love: brunch and late-night snacks. I feel like most of the places that are currently open during the late hours of the night only serve things like pizza, cookies, or burgers and I want to break these boundaries by offering something new. Stacked is very different from places such as Ihop and Denny’s because people don’t have to sit down and have a whole meal and won’t have to tip. Additionally, people have much more flexibility to get exactly what they want without having to pick menu items apart and pay extra for changes. I have gone to Ihop with friends before that have struggled picking things on the menu that they desire because they like parts of a meal better for some items more than others. While Ihop and Denny’s will be a major competitor during the late hours of the night, I think that typical bagel places such as Bagel Bakery will be a competitor during the day. At these bagel places people can also order foods at a counter but can’t get the same type of freshness and fresh items such as pancakes and waffles.
When thinking about this restaurant, I think that my most important resources are gaining a strong customer base through strategic marketing techniques and having a passionate group of employees that will keep the place lively even during the late hours. The “Stacked experience” should be full of energy and the employees will be made up of college students that love food and can help make recommendations to people wanting to try new things. The next opportunity that I want to tackle in this venture is figuring out who my food supplier will be and how reliable their prices are with the changing of the seasons. I think that I could make this business come to life within the next 5 years and can grow it to other college towns within the next 10 years. I recognize great opportunity in the Gainesville and Tampa area as well and would like to start by expanding there. I am excited to see all that is yet to come with this idea and will need to acquire a lot of good contacts through my networking abilities along the way.
2. I was very pleasantly surprised to read all of the positive feedback on my venture concept and got even more inspired to go through with the idea. Each of the three comments were written by college students which was especially reassuring considering they are a part of my target audience. Additionally, people emphasized that they supported the idea due to the fact that there isn't a restaurant like Stacked in Gainesville and they see it being very successful due to its lack of direct competition. I'm glad that other people recognize this concept as well and am increasing my confidence in it.
3. I changed my venture concept by adding the idea of expanding to other college towns after a few years to eventually make the business become a franchise. I feel like this idea will help the business become more established and will give it a recognizable name. I would love to one day make the restaurant a place that is known to be trendy and delicious across the country in local college towns. I'm thankful that my feedback inspired me to reach further and challenge myself even more.
In the Gainesville area, I recognize that there is a great need for a breakfast place that is open extended hours into the night and early parts of the morning. There are no places like Stacked Downtown and people are constantly looking for new foods to try after going out. College students are always seeking out cheap new foods and Stacked will have many affordable options since breakfast foods are not that expensive. I have already spoken to so many different groups of people about this idea, and so many of my peers have expressed interest in its opening.
The concept that I have developed is very innovative as there is not currently a place in Gainesville for people to build their own breakfast platters nor a place that serves breakfast food at a counter beyond typical breakfast hours. The restaurant will be set up in a way that is similar to places such as Grill Fresh, Bolay, and Vale in which people choose different sizes to build their bowls. The bases for the platters will include foods such as pancakes, waffles, biscuits, French toast, regular toast, bagels, and crepes. The next step will include choosing a type of protein. These proteins include everything from fried chicken to any style eggs. Finally, people can choose their sides and toppings. Sides will include foods such as fruits, bacon, sausage, avocados, lox, (up-charge), hash browns, home fries, and more. Sauces will also be available such as hollandaise, syrups, chocolate sauce, etc. The bowls will be priced based on how much people get of each category. The large bowl will cost $12 and will include two things from each category. The medium platter will cost $9 and will include 2 bases, one protein, and one topping. Finally, the small will include one thing from each category and will cost $7. For people that are more interested in simple snack options they can request items on their own such as a pancake after a night out. These prices will be determined based on how much it costs to obtain the resources but will be fairly cheap for college students. The goal of the restaurant is to make the options the most convenient and flexible for the customers because I want the place to have a reputation of being able to be customizable and affordable. These are two qualities that I value as a college student on a budget that wants to make the most of her money.
I am confident that people in their twenties in the Gainesville area will be very fond of this restaurant and will want to go to it during various hours of the day because it combines two things that college students love: brunch and late-night snacks. I feel like most of the places that are currently open during the late hours of the night only serve things like pizza, cookies, or burgers and I want to break these boundaries by offering something new. Stacked is very different from places such as Ihop and Denny’s because people don’t have to sit down and have a whole meal and won’t have to tip. Additionally, people have much more flexibility to get exactly what they want without having to pick menu items apart and pay extra for changes. I have gone to Ihop with friends before that have struggled picking things on the menu that they desire because they like parts of a meal better for some items more than others. While Ihop and Denny’s will be a major competitor during the late hours of the night, I think that typical bagel places such as Bagel Bakery will be a competitor during the day. At these bagel places people can also order foods at a counter but can’t get the same type of freshness and fresh items such as pancakes and waffles.
When thinking about this restaurant, I think that my most important resources are gaining a strong customer base through strategic marketing techniques and having a passionate group of employees that will keep the place lively even during the late hours. The “Stacked experience” should be full of energy and the employees will be made up of college students that love food and can help make recommendations to people wanting to try new things. The next opportunity that I want to tackle in this venture is figuring out who my food supplier will be and how reliable their prices are with the changing of the seasons. I think that I could make this business come to life within the next 5 years and can grow it to other college towns within the next 10 years. I recognize great opportunity in the Gainesville and Tampa area as well and would like to start by expanding there. I am excited to see all that is yet to come with this idea and will need to acquire a lot of good contacts through my networking abilities along the way.
2. I was very pleasantly surprised to read all of the positive feedback on my venture concept and got even more inspired to go through with the idea. Each of the three comments were written by college students which was especially reassuring considering they are a part of my target audience. Additionally, people emphasized that they supported the idea due to the fact that there isn't a restaurant like Stacked in Gainesville and they see it being very successful due to its lack of direct competition. I'm glad that other people recognize this concept as well and am increasing my confidence in it.
3. I changed my venture concept by adding the idea of expanding to other college towns after a few years to eventually make the business become a franchise. I feel like this idea will help the business become more established and will give it a recognizable name. I would love to one day make the restaurant a place that is known to be trendy and delicious across the country in local college towns. I'm thankful that my feedback inspired me to reach further and challenge myself even more.
Hey Emily,
ReplyDeleteI like how you were positive about the feedback you received. Expanding your business to other college towns will help you develop even more. I also decided to expand my business to other college towns (I’m working to help the environment). Knowing that there is more to do for our businesses makes us want to keep going and see what happens. Nice post.