29A – Venture Concept No. 2

"Keto Nick's Grocery"

Opportunity

The Ketogenic diet has begun to grow immensely in popularity, and not just because it's a quick way to lose weight. Many individuals and even medical professionals have reported to seen positive results with dietary therapy that involves the ketogenic diet. While this is a growing phenomenon with why people want to do keto, the fact still remains that a majority of people go on keto to lose weight.
Our customer profile would consist of someone who considers themselves overweight or out of shape even, and also would be someone middle aged or younger. They most likely come from a densely urban or sub-urban area, either along the coasts of the U.S. or in the South and Midwest.
What's critical about the ketogenic diet is being able to maintain a state of ketosis, where your body will burn fat molecules instead of carbohydrates. This requires you to minimize all carb intake to a minimum, or as close to 0 grams a day as you can. This can pose quite a challenge for almost anybody on the planet, and when you factor how long humans have been eating carbs, you could say it is impossible for most.
With these issues currently present, there is an opportunity to create something that can help many people mitigate the problems with going ketogenic. 

Innovation

The innovation I am proposing is a ketogenic grocery store. This is something that will be very different when you compare it to any conventional grocery store, from the products available, to the store's offers, and the unique variety of goods featured. The store will include only ketogenic friendly items, basically anything that would not be totally detrimental to someone on a keto diet. An example of these items would be things like oils, dairy, meat, some nuts, vegetables, and certain fermented foods like yogurt.

The different items we will have for sale will reflect our necessity for keto only, while simultaneously offering unique products for people who may not be able to buy that select item elsewhere in their region. Some types of fish, some cuts of meat, certain brands of dairy, vegetable oil, and so forth could find themselves stocked in a ketogrocery, but not in a conventional one.

The ability to generate profit for this business will be about how much the marginal cost will be for each grocery item we purchase for resale. Most prices for a wide selection of products will likely be the same as they are in conventional grocery stores. More unique or varied products such as different fish or cuts of meat may be priced higher due to lack of availability by other grocery stores in some places. The day to day business operations would of course be near identical to regional competitors, due to the logical time of day that a grocery store would normally operate.

     

Venture Concept

The premise behind this Venture Concept is to respond and capitalize on the fact that there is currently no solely exclusive location to shop for ketogenic products. The interest that people would have in this type of business concept is that it allows them to purchase all their goods for their diet, without questioning if it is good for them, becoming distracted by other foods, or even to purchase limited items that only are available at this store.

The type of competition we can expect for this venture will come from local, regional, and national grocery retailers. There will be competition with the likes of Walmart and Costco, but the bulk of the action will occur with stores like Whole Foods, Trader Joes, Publix, and others.

Three Elements

The most important resource we have in our possession is the product variety we will have. The many different meats, dairy brands and more will act as an enticing bargain for some who may not have access to that item elsewhere.
Our next step of this venture to help it grow and build would be to include keto-friendly recipes, cooking advice, and meal prep help throughout the grocery store. Offering small classes even to show others how to make some dishes is even a possibility.
Within the next five years I expect that if all were to go well we would have 1 or 2 other possible locations, either in the state of Florida or in adjacent regions. In the next decade I hope I can have a well-established keto grocery chain that maintains a positive brand image, and excels at serving customers quality groceries.