19A – Idea Napkin No. 2

1) You. 

I am a 4th year Business major at the University of Florida. I have a talent for writing, debate, and researching. I am skilled with Excel, and have some experience thus far in marketing and finance due to internships and extra courses. I aspire to attend law school after I graduate and specialize in contract law or corporate law, and hopefully obtain my LLM in tax law afterwards. This business would be something I would spend a considerable amount of time on if I had to insure it succeeded.

2) What are you offering to customers?

I hope to provide an efficient, affordable, and safe way for people to eat a ketogenic diet. It would be limited in its width but the depth of our options would allow people to eat many different options, all while remaining within their dietary restrictions.

3) Who are you offering it to? 

The demographic that I can think of immediately is many middle aged, 45-64 year olds who feel a need to slim down, I would say many of them would even be men. But that only involves a somewhat large portion of our demographic, as others could be looking for a new diet to follow to improve athletic performance, or others because of existing health issues or dietary needs. 

4) Why do they care? 

People would want to pay for my product and service because of its ease, quality, and diversity. Much of the keto groceries would be more unique to a store like ours, because of  a wider extension of dairy products, meats, and even things like nuts, oils, or chocolates. The other benefit is people who follow keto will be able to purchase anything within the store and remain within their dietary boundaries. 

5) What are your core competencies? 

I am able to create a product that provides efficiency, quality, variety, and safety for a growing portion of our population. The advantages that shopping at a keto grocery store has will entice our targeted demographic, along with people who fish for some of our more select products that may not be available elsewhere.

In addition to these five elements, please spend a paragraph evaluating whether you believe these elements fit together or whether there are aspects of your business concept that are weaker / out-of-joint with the others. 

I think that some of my more out of joint features are that I will not have a large variety of items that typically are found in grocery stores. I think this would put be back severely, but the size of the store also does not have to be immense right as we begin. I would say something that does benefit me more than it seems is that our selection would be more unique in its availability and diversity of goods. 

For the "feedback memo" -- please summarize at least two main points that you took away from the feedback you received. Also, please describe how you incorporated the feedback into this idea napkin. 

I did not receive any direct feedback from anyone in the class, but I did speak to my parents over break about this series of assignments. They mentioned that the limited variety would deter a good amount of people, but they also said if the right type of unique and quality products were available, they would shop at this grocery store to get these other items. I tried to include this in my consideration for this business, and felt it would be easier to buy other goods not seen as often in conventional groceries. They also said that the efficiency and ease for people wanting to at least try keto would keep customers interested in going.