Venture Concept No.2

Assignment 29A – Venture Concept No. 2


1. Venture Concept


Opportunity:
Need for faster food delivery service


Who has the need:
People who don't have enough time to get their food want to order food delivery and want their food arrives as soon as possible.


The nature of the need:
food, convenience, food quality, and time




The need exists because consumers of food delivery in Gainesville are not satisfied with current food delivery time. According to my investigation, the average waiting time is eighty minutes, while the expected waiting time is fifty minutes. Primary market is aimed at UF or SFU students who live off-campus. They make food themselves or eat some bread or snacks. They said if they can get their food more quickly, they are willing to pay more for it. The opportunity is , and this window will open until other food delivery company notice such an operating method.






Innovation:


Because customers are unsatisfied with the current situation. We provide a premium delivery option that can get their food more quickly, with more fees. We will show the expected delivery time online before they check out, and also we do the same for normal delivery options customers. To keep fairness, we will no longer the delivery time of normal delivery option consumers when some premium service orders come in. Instead, we will calculate the possible outcomes and add the needed time before any orders are made. That is, when normal delivery only needs forty minutes to deliver, we will show fifty-five.


We will also hire more drives to increase efficiency, with a specified app that connects them with the support staff.






Venture Concept:


Customers are easy to switch to this new service. Because this is what they need and this is what current market lacks.


Competitors will be other food delivery companies and restaurants with food delivery service. The weakness is that they are already late when they realized our strategy when we have already built a reliable customer base.


The price will be higher because of the premium service.


I will need IT supports like around six employees for my app running and necessary calculation for the delivery process.






My most important resource :
My most important resource is the advice from an operation manager of Eleba, a successful Chinese food delivery company. He is my father's good friend, and he said he could give me advice when I met problems.


What's next:
I think delivering personal items from one location to another location is my next goal. People sometimes forget things or need to send something to their friends. That's where opportunity exists.


Next for me:
This is only the first step of my life. I will sell the business after I graduate, and then I will go to graduate school or start another new business.




2. Summary:


Most of my peers think the delivery time problem really exists, and my plan will work well. But they have also pointed out a serious problem, how to balance the fairness between normal service and premium service. When someone orders a normal service, but his delivery arrives late because someone orders a premium service during his delivery time. No matter it's because of the premium service influences his arrival time or not, he could feel unfair. The way to solve this will be noticed before he checks out, and also an app for customers that help them check their delivery status all the time.




3. Revision:


I changed my innovation based on peer reviews. I develop an app to connect customers, support team and delivery team better.