1.) The segment I would be entering is a large segment that includes all ages and people, but I’ve envisioned to be geared more towards young adults in college.
2.) Interview 1: In this interview, I learned that students like a cheap option for food.
Interview 2: In this interview with a mother of 2 enjoys convivence during her day and would pay the price if it meant not making kids lunch in the morning.
Interview 3: In this interview, I learned that many college students don’t have a regular daily schedule and find themselves up super late and don’t have many options at night for food.
3.) I believe I can shape this business idea to be a cost-effective sandwich as well as open hours when people need there PB&J. That’s my biggest thing that it's convenient. So, my next thing is to test my hours I was thinking that our hours are from 10pm to 3pm. I know these are strange hours, but I believe they can be most beneficial. 10pm to about 3-4am is a late-night rush for studying students and people returning from bars/clubs. 6am to 11am in the morning rush people wanting sandwiches for their day at school or work. 12pm to 3pm is all for that lunch rush.
4.) In my interviews, I learned that students want a cheap and open late kind of midnight munchie break for those returning from the bar and students up late studying.
5.) I found evidence that students would be my strongest market even though this is a place that can stretch but believe it would be most profitable to market towards young adults in college.
6.) I believe I am on the right track to serving the young adult college market segment. I chose to focus on this segment as myself a college student believes can make a sandwich cheap enough for an average student on a budget as well as be open late to serve students coming from the bars/clubs as well the students who stay up late studying and need brain food.
Hello, Cameron -
ReplyDeleteI enjoyed your post! Your hours of operation are a bit strange, but with the justification you give for them it makes sense. However, would you consider opening even later, say at midnight (or even past that)? It seems like you'll want to fill the need as other options close. By opening at 10PM, you'll still have a decent amount of competition open and may potentially have a lack of business during those early hours. This may be a good idea to investigate in the future in order to alleviate any loss from operational costs.