What’s Next?
I think next, I would expand to bigger food packages. Right now, I am planning on doing three of them: basic, advanced, and premium. Once I get those up and running, I would expand to even more packages to allow schools more options. I asked three teachers what they would do next if they were running this business. One said that I should I move into the catering business. They thought that if schools saw that we are good enough to do catering than the food must be high quality and they would be more inclined to partner with us. The other two suggested more food options. I asked them about my idea to add up to 10 customizabile package options, and all three liked the idea.
My plan going forward would be this: I would add the custom packages to the potential options. Then, once I get big enough, I would expand into middle and high schools. After a few years of that, I would try to move into the college market. The amount of dining halls and fraternities/sororities that serve food daily would provide the perfect market to tap into, however there is already established competition.
Based on my feedback, the new market I would go after would be the catering market, especially for high end parties and corporate events. While this is radically different than the school children market, it would provide value. It would force us to step up our quality of food, which would make us a better service. Plus, as the one teacher said, if a school hears we are good enough to cater a major corporate event, they may be more inclined to deal with us. I interviewed two people who are heavily involved in the corporate world, and they both were skeptical that this would work. They said people at their companies would find it weird that they are being served "school food" (which only further proves the need for my service). They suggested that I maybe have a separate branch that is rebranded to almost hide the fact that I do school food, too.
I leaned that this catering market will be much more of a challenge. Besides the fact that there are so many players in that arena, the mental barrier would be tough to breach. I think what surprised me the most is the fact that the food distribution would have to be so much more different than the school market. My assumptions that it would be easy to translate over were incorrect. I think my current market plan is a better plan, and to venture into the middle and high school and eventually college markets is a much more efficient path.
My plan going forward would be this: I would add the custom packages to the potential options. Then, once I get big enough, I would expand into middle and high schools. After a few years of that, I would try to move into the college market. The amount of dining halls and fraternities/sororities that serve food daily would provide the perfect market to tap into, however there is already established competition.
Based on my feedback, the new market I would go after would be the catering market, especially for high end parties and corporate events. While this is radically different than the school children market, it would provide value. It would force us to step up our quality of food, which would make us a better service. Plus, as the one teacher said, if a school hears we are good enough to cater a major corporate event, they may be more inclined to deal with us. I interviewed two people who are heavily involved in the corporate world, and they both were skeptical that this would work. They said people at their companies would find it weird that they are being served "school food" (which only further proves the need for my service). They suggested that I maybe have a separate branch that is rebranded to almost hide the fact that I do school food, too.
I leaned that this catering market will be much more of a challenge. Besides the fact that there are so many players in that arena, the mental barrier would be tough to breach. I think what surprised me the most is the fact that the food distribution would have to be so much more different than the school market. My assumptions that it would be easy to translate over were incorrect. I think my current market plan is a better plan, and to venture into the middle and high school and eventually college markets is a much more efficient path.
Hello Grant,
ReplyDeleteAfter reading your post, I think that you can expand to your new market rather easily, I believe your biggest challenge would be having the capacity to serve so many kids, doing menu changes to adapt to the different age groups, while maintaining the same quality. Also the serving sizes will be different, so you have to account for that too.
Hi Grant,
ReplyDeleteGreat post I think you package system would be good for a lot of school that have varying budgets because of states political situations.. building this company would be difficult because their is a lot of competition in the food industry. If i was you i would use your connections in the Florida school board to make the company get its foot in the door. once you establish a hold in the market you can make moves to expand the business