The New and Improved Venture Concept (Venture Concept no. 2)

 

Venture Concept: Comfort Food Inc.

Opportunity: There is an opportunity that is under-met, especially in Gainesville.  There is a lack of restaurants that serve healthy, natural food for an affordable price.  As far as who has this need, everybody does.  A healthy diet doesn’t just appeal to one demographic, everyone can benefit from this.  However, since the first Comfort Food Inc. restaurant will be based in Gainesville—which is a college town— and also because it is the younger generation that have taken to the recent health craze, my primary potential customers are college students and young adults. 

In recent years, there has been a growing trend in health and fitness.  People, especially us young adults, have been caring more about what they are putting into their bodies.  I am not entirely sure why or how this craze came into existence, but it has definitely influenced the way many people live their lives.  This opportunity is not just in Gainesville or even Florida, but across the entire nation.  The focal points of the healthy-eating population are primarily located in:

• college towns
• along the coast lines
• “big city” type places (i.e. New York, L.A., etc.)

This leaves many open doors for me to start pretty much anywhere, but in the end, a college town would be my best bet (unless I can somehow score a place in Beverly Hills).  So how are my customers currently satisfying their need to eat healthy?  Well I never said that there were not any healthy eating establishments already, there just are not many, and they are not cheap either.  The rarity and expensiveness of these restaurants can make it hard for customers to maintain their loyalty.  It is not clear how long this opportunity will last, but being that this health trend has just recently started (relatively speaking), I am confident that this trend will continue for several more years.

Innovation:  The main innovation and inspiration behind Comfort Food Inc. is the implementation of locally grown ingredients (produce, meats, and dairy) in the dishes that we serve.  The mission of Comfort Food Inc. is to stay loyal to the 100% locally grown promise we make to our customers, so they can rest assured knowing that the food they are eating is as fresh as can be.  The idea to use locally grown ingredients came to me once I had learned the steps in the shipping process that most restaurants use.  For most (primarily chain restaurants), the ingredients are frozen and shipped across long distances.  On average, the time it takes the produce to reach your plate after being harvested is about 2 and a half weeks. 

I know what you are thinking, “what’s so bad about that?” well I’ll tell you.  Produce, especially most vegetables, starts losing most of their nutrients within the first 24 to 48 hours of being harvested.  Even after being frozen, they just aren’t as fresh as they were within those first two days.  If they aren’t at their freshest, then in turn, they aren’t as healthy or tasty.  Comfort Food Inc. will strive to serve food made only with locally grown food.  This is what will set us apart from every other restaurant out there.  Our food will taste better, and be healthier, and I am sure that people will notice the difference.  Not only will we be helping people eat healthier, but we will also be strengthening and stimulating the local economy by buying from local farms, which is a dying industry.  This can lead to the community being more self-sufficient and self-dependent. 

You’ve probably noticed several burger joints around Gainesville (or anywhere really) where their burgers cost as much as a full dinner at Olive Garden; an example being Burgerfi.  If you were to get a burger, some fries, and a drink at Burgerfi, you are already looking at spending anywhere from 12-15 dollars, which is friggin’ outrageous.  We are college students, we can’t be spending money like that on something as niche as a hamburger (this restaurant is not a burger place, but I’m sure burgers will be a menu option).  At Comfort Food Inc., we understand that our loyal customers are not going to want to spend a good portion of their paycheck on food, so we will aim to keep our prices below the $12 line (and that would be considered high for us).

Venture Concept:  One specific opportunity I have been pondering is the implementation of health and fitness products, such as protein powders/bars, all natural snacks, energy boosters, etc.  I feel that this would be a good investment farther down the road once my business has made a name for itself, since this is a growing market.  I could sell brand name products, but then later develop my own brand of health products.  One example would be my own brand of all natural, official Comfort Food Inc. protein powder—although I will probably create a separate branch of my business specifically geared towards health and fitness products, with a cooler name.  This aspect of the business will be a completely new and independent department from Comfort Food Inc., but I would still plan on selling the products in the restaurant, as well as in other retail, health and fitness, and online stores.  The competition will be heavy since this is a relatively saturated market already, but I can gain the competitive edge over others if I can create for example, an all-natural protein powder mix that actually tastes good and is not grainy or awkward to ingest (too clumpy).  But again, this will all come after Comfort Food Inc. has made a lasting impression on the community that it is in. 

 

 

 

Comments on my first post:

All three of the comments on my first post pretty much consisted of "great post!" and "you have an awesome idea here, keep it up!".  So of course there is not much for me to build off of from that.  However, one person did say that I should look for ways to compete with the price of my fast food competitors, with their meals costing around $5 on average.  This is a good point, because while many people do care about their health and well-being, some people care about the health of their bank account more, especially college kids, which if I plan on starting up I Gainesville, is my biggest market.  The only problem with that is if I am selling food for $5, then I am essentially giving my customers the same cheap crap that they were trying to escape from.  I gave a lot of thought into this issue, and I came to the conclusion that my prices will have to be a bit higher simply to accommodate for the higher production costs.  As I said in my post above, there are places--such as Burgerfi--that will have you spending anywhere between $12-$15 for an entree, side item, and drink.  At Comfort Food Inc., $12 would be considered high for us.  I honestly think that under $12 is a fair price for high quality, and not to mention healthy food.  Please comment your thoughts on this, pleeeeeeeeease.