25A – What’s Next?

 Existing Market

Step 1: Next in terms of my products is the nut butter business that will branch off of my healthy food truck. I will start selling the nut butter at my food truck and then start selling it to local stores.

Step 2:

Customer 1: Alexia said that next for my venture is to improve the quality of my food and the options that people get when making a bowl. She said I should expand into an actual restaurant.

Customer 2: Shea said that customers would soon want smoothies and juices if I were keeping the business simply at a food truck. She says that to make a lot of money I should go further than just having 1 truck.

Customer 3: Casey says that customers want to see vegan options because so many people have dietary restrictions nowadays. I will definitely take this into account.

Step 3:

            After planning my healthy food truck, I have decided to start at the farmers market to get exposure at Sarasota, FL. After getting exposure I will start having my food truck placed during the lunch hours in downtown Tampa. This will grow exposure and gain more income. I plan the food truck to be a popular place for millennial people in society to get lunch and for people with a busy schedule.

            After having my food truck for about a year, I plan on introducing my nut butter company that I have been working on with my sister. My nut butter company would be called “3 Nuts” as of now and would have flavored butters, such as, almond butter, peanut butter, sunflower butter, and walnut butter. All of these nut butters will have flavors such as vanilla, chocolate, or cinnamon swirl. There will be seasonal flavors and regular ones. I plan this to be my biggest venture.

New Market

Step 1: Currently I am targeting millennial people and people that have a well set income where they will spend money on healthy foods. Another area I could target, but have not thought about doing so, is the area of the world that does not make enough money to feel comfortable eating out.

Step 2: My venture concept will create value for people that don’t have enough money to eat out by offering quick service. In my service it is not necessary to tip, so these people will save money if they want to have a nice meal out but don’t have too much money to spend.

Step 3:

Customer 1: Sam is a college student that doesn’t want to spend money eating out. To get Sam on board, I asked him if he has peanut butter in his pantry and he said yes. I can get Sam on board by selling him my peanut butter

Customer 2: Hillary also does not want to spend money on eating out, but she says she is willing to spend money on peanut butter and almond butter because she uses it all day everyday. I think the peanut butter and almond butter company can be appealable to all people of society.

Step 4:

            I learned a lot about my new market because I never thought about selling to people with less money and less willing to spend their money on eating out. I realized my peanut butter and almost butter market would be perfect for these people because almost every human has some kind of spread in their pantry. These people are willing to spend money on peanut and almond butter because they already spend money on it.

            This market is not as attractive as my other market focused on busy people in society with a high income. This market is not as attractive because people have less money to spend on my company. They might still buy food from my food truck stand for dinner, but I can ensure they will buy my almond and peanut butter as long as I market it correctly and the price is okay for them. Having less money causes them to be stingier and they will buy less of my product.