Venture Concept No.1

week 12

Opportunity: My customers needs are not being met because there is not a breakfast place in midtown. However, their coffee needs are being met by Dunkin Donuts, Starbucks and Krispy Crème, and their bagel needs can be met by Bagels and Noodles six blocks away from midtown. There is so much more to breakfast than just bagels and donuts! Where are these people supposed to get scrambled eggs, omelets, waffles, sausage, bacon or pancakes? Their under met needs call for B-fast located right in midtown! Our potential customers include professors in need of a meeting place with something to eat in the morning, construction workers nearby on break, and most importantly students looking for an affordable breakfast in between classes while getting some schoolwork done. The market is defined geographically by Gainesville, mainly those who are a part of the University of Florida. Customers are currently satisfying this need by places such as Dunkin Donuts Krispy Crème and Einsteine’s Bagel Bros nearby. While Dunkin Donuts customers are loyal to their cheap coffee, especially at happy hour, they are not loyal to their limited food menu. Customers are only loyal to Einstein’s Bagel Bros because of its convenience on campus. However, being a regular customer at Einstein’s would be one expensive habit. I think this opportunity is huge considering college kids are in search of an alternative late-night eatery. Pita Pit, Relish and Jimmy Johns are currently the go-to places to eat after a night out in midtown. Pita Pit is pricy and can take a while for your food, and the line at Relish can be up to 30 minutes long. Late night breakfast places such as I-Hop, Waffle House and Denny’s have proven successful because there is such a market for late-night breakfast. So, why not in midtown? Breakfast foods such as pancakes are not only extremely cheap and quick to make, they are carbs which will cure our customers hangovers before they even exist! With the constant construction around the university, this window will probably only be open for the next two years. With the closing of Pizza by the Slice and opening of Grill Fresh behind the Swamp Restaurant, it is hard to predict what will happen next. However, our community will never cease to continue growing and renovating – that is for certain.

Innovation: As the title B-fast states, it will offer breakfast fast! Our number 1 late night seller will most likely be pancakes. A $2 box of pancake mix will make 20 pancakes. For $4.00 customers will get a stack of 2 large plain pancakes in which they can apply syrup to at no charge. This will generate $38 per box of pancake mix. For a $1.00 up-charge customers can choose from chocolate chip, blueberry or M&M pancakes.

Venture Concept: Pita Pit, Relish and Jimmy Johns are currently the go-to places to eat after a night out in midtown. Pita Pit is pricy and can take a while for your food, and the line at Relish can be up to 30 minutes long. Late night breakfast places such as I-Hop, Waffle House and Denny’s have proven successful because there is such a market for late-night breakfast. I do not think it will be difficult to get consumers to switch because it is all based on personal preference. Some people crave breakfast late at night rather than a greasy burger and fries. The vast majority of women I interviewed in “customer interviews” preferred breakfast late at night. Also, our prices speak for themselves to appeal to the typical broke college student. We would only need about 3 workers on the job – one at the cash register to take orders, and two cooking.