Venture Concept No. 2

The Variety Van (original venture concept)
Opportunity
The opportunity I see in the market is that of hungry college students who are on a budget, especially at the University of Florida. Specifically, when it comes to a night after going out to the bars, or students who need a quick snack when studying but don't want to pay for an entire meal. Students need a healthy, cheap place to get quick service during the later hours of the evening.

On one hand you have the college students who have gone drinking and are now craving late-night food in midtown. They hit up Pita Pit, Relish, Flacos, or Jimmy Johns. I would say these restaurants' customer loyalty is very high as there are people there each night. On the other hand, students studying at Library West may be craving a snack. There's a Starbucks and some vending machines, but the food is pricey and processed, respectively. This customer loyalty is not as high as those in midtown (right across the street from the library).

This is a HUGE opportunity because everyone has to eat at some point. Whether you're craving some late-night snack after going out, or desperately need a study break- food will always be there. The window of opportunity will be open as long as students are going to college because there will always be young men and women who are hungry but on a budget.

Innovation
I present to you all: The Variety Van, a food truck to be set up behind midtown that essentially sells cheap yet healthy food for late-night goers. Special features include:

• Healthy food
• With gluten-free and vegetarian/ vegan alternatives 
• Cheap prices 
• An array of options (hence variety)
• Mexican, Asian, Italian- you name it! Customer input is much appreciated
• Snacks
• Fresh fruit, smoothies, pretzels and hummus, chips, popcorn, etc.
• 2 separate ordering windows
• So the line is cut in half 

I plan on operating the hours from 10pm-4am. Eventually I would like to branch out and start a location in downtown as well because I feel it is an entire different genre- includes college kids but more Gainesville locals. I think it would still be successful because food trucks are trending and  the food would be healthy, cheap, and of good quality. I did research and it does not cost much (as compared to a venue) to start a food truck business, so in turn the prices to sell will not be much. I am aiming for under $10 for a meal and under $5 for a snack. 

Venture Concept 

I think my idea is pretty self-explanatory. When college students are hungry but on a budget, they want cheap food, especially after a night of going out. I think my snacks idea sets me apart as well because sometimes you just aren't in the mood for an entire meal. Gluten-free is trending right now, and people overall try to eat healthy for the most part (at least I think so). 

I don't think it will be hard to get customers to switch for these reasons- especially the variety. My competitors are who I listed before- Pita Pit, Relish, Flacos, and Jimmy Johns. What sets me apart aside from cheaper food and healthier options, is the variety of food that will change on a weekly basis. It keeps customers surprised and engaged. 

As far as employees go, I think no more than 5 or 6. It's a small food truck business and there would only be about 3 people working at a time (one prepping the food and two taking orders at the two windows). 

Most Important Resource

The variety definitely sets me apart but the snacks do as well. Most competitors sell chips or fries as a side, but my snacks will be more filling (as far as snacks go). 

What's Next

As I mentioned before, I would like to open a business in downtown as well. However, I would like  to go to a food truck rally first to get the word out there regarding my business. 

What's Next For Me 

I would do this venture as a side job, not sure if I would stick with it for the rest of my life because it's just a food truck. I would maybe sell it for profit to someone else, or maybe open a restaurant with the same business concept.

Feedback

Each person who commented on my original venture concept had nothing but positive things to say. I think I really did a good job at evolving my business and brand. I haven't made so many changes along the way as I have just added to the base of my ideas. I will say that one person positively suggested that I could possibly at some point bring the food truck to schools and rotate which school I go to on a weekly basis. This is something I could do once I really got my foot in the door. Like I said, I haven't changed much of my concept, but added on- and I thought this idea was great!