Opportunity:
Mainly busy working people and elders have the need of my grocery delivery service business. They have this need because they simply don't have enough time to do everything required of them, one of the most time consuming being grocery shopping. Also, they have better things to do and to enjoy. As far as elders go, perhaps they simply just don't have a way to get to the grocery store. Maybe they are unable to drive a car or are physically incapable. This unmet need can affect anyone and everyone regardless of geographical location or demographics. There are no exemptions because everyone needs to eat. This need is currently unsatisfied so there is a big opportunity here and I believe it will be open until a giant grows and takes over the market.. me! I would be a pioneer business.
Innovation:
My innovation is called Groceries To Go, which is a grocery delivery service business. It allows people to order groceries via the website or mobile app (you can even upload a picture of your grocery list) and to have them delivered to their front doorstep within a two-hour time frame guaranteed. The fee is a small percentage of the order total amount. I'm thinking 12%-15% at this time. Customers can pay securely with their credit card.
Venture Concept:
My business venture will solve peoples' unmet need by saving them time and hassle. Customers will no longer have to take the time to go grocery shopping and to deal with the congestion of busy roads, parking lots, aisles, and check out lines. They can do other more important things like get other less time consuming errands done or spend more quality time with family and friends, or simply just not leave the house and relax at home. Customers would use my service business to save themselves time and hassle. There are no big name competitors at this point. Nothing similar has taken off. Perhaps they are not infiltrating their business well enough. My quick distribution, excellent customer service, and availability to large urban populations will put me ahead in my venture. I will need many different departments for my business to be successful. I will need market researchers, orderers, stockers, accountants, product pullers and packagers, distribution, logistics, and more. The amount of employees I would need would be determined by the amount of demand.
My secret sauce/unfair advantage would be my close attention to excellent customer service. Since this is a service business, that is extremely important. I can't stress that enough. Without excellent customer service, my business would quickly go under no matter how awesome the idea is.
What's next for the venture is making my service available to more than just populated urban areas. I would like to expand to the suburbs and rural areas alike. I would also like to include more than just groceries that can be delivered, such as items like household items and hygiene products.
What's next for me is growing my business and either nurturing it and handing it down to my family someday or if they don't want it then selling it to a company that will continue to grow it and make it great. This first venture helps to achieve my vision by showing myself that I can do it! I can create an original idea on paper and flourish it in real life. Also, the whole entrepreneurial and business growing process would teach me the ropes.
I received some wonderful feedback from my classmates about my Venture Concept No. 1. Some comments were reinforcing but there were also two that helped me with making improvements. A really good reinforcing comment was from Carlos. He agreed that my value of excellent customer service and an urban location for my service business were very important. The reinforcement helped me to feel more confident in my viewpoints. The two comments that offered improvements were very insightful and helpful as well. I appreciated it. CPaxton said that I had a great idea and it would be a great service business for elders but that she was concerned that they wouldn't be able to use it because of the technology factor, the mobile app and/or website. That's something that I hadn't really thought about but it's a realistic factor. Some elders don't have access to technology or just plain don't like it or don't know how to use it. I'm not sure how else I would reach elders or have them place grocery delivery orders, but it's something I do need to think about now and come up with a solution for. Thanks for the insight on something I hadn't thought about Cathy! Another helpful comment was from Juan. He said that he liked my idea but that it was certainly a luxury service, which is true! I had mentioned that earlier as well. His comment was insightful because it made me reconsider my target market so that I can reach the right group of people and have the best chance at success possible.
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