Idea Napkin No. 2
In my second
Idea Napkin I included the following sections as required.
About me:
My Project:
What I am offering:
My Target group:
Why choose my product?
Overall, after
completing my Idea napkin I felt like the different sections blended together
quite nicely. The one pairing that I felt was a little weaker was the pairing
of my target group and the reason why to choose my product. After feedback from
my four interviewees I found out that I should also target local business
owners to sell my products at produce markets and wine tasting events. I
shouldn’t merely focus on graduating students and newcomers to wine.
For my
feedback memo I took away 5 important points.
1. Expand my connections with local
farmers to obtain valuable local markets to sell French wine.
2. Concentrate on French wines that have
low environmental impact.
3. Present my wine selections at local
wine tasting events to increase popularity.
4. Talk and collaborate more with local
businesses to understand how they manage distribution.
5. Talk to the owners about their
success stories and see if they will collaborate with you to sell your product.
Below are my
4 recorded interviews. Jenny, Michael, John, and Gene.
Gene preferred
that he wasn’t recorded while working but agreed to share his feedback.
Gene is a
Manager at ABC wine a liquor on University and 11th street. After
talking about demand he explained that there was a larger demand for wine in
West Gainesville. At his store specifically he showed me that there selection
was quite bare. He felt my concept would work best by actually opening a small
retail store in Northwest Gainesville along 34th. He pointed me in
the right direction by explaining that the archer store had a larger
collection.
Overall I
feel that the business owners I talked too really liked my idea. This was a
great assignment and I timed it perfect by visiting the local Market to conduct
my interviews.
Hi Brandon,
ReplyDeleteIt looks like you took your feedback previously received and incorporated the ideas received. The questions I had when first reading about your business idea were answered by your response to that feedback. In speaking with local liquor store(s) you were able to find out what the market is for French wine. I too lived overseas in Germany for three years. Unfortunately I do not like the taste of alcohol so have never acquired a taste for wine, but I like the ambiance that comes with it. I know there is a large mark up for liquor sold in restaurants, so you may have strong profit margins if you decide to pursue. Good luck!
Here is my blog: http://joyspurlock.blogspot.com/2016/03/idea-napkin-no-2.html
I must say first off that you have gone far and beyond on this assignment. Definitely it seems you have your idea in a very well thought out manner. Going to the different owners and speaking with them allowed you to refine your idea into something more tailored to the local market. In my case, I am working with something much more broad hence, I don't have that luxury. Anyway check out my post at: http://entspring16.blogspot.com/2016/03/idea-napkin-no-2.html
ReplyDeleteFreaking awesome job Brandon!
ReplyDeleteYou have really dove into the business relations involved with this type of work which is essential to success. If I were you though, I wouldn't plant a business on the west-side of Gainesville off of the recommendation of one fellow. Really test out the waters of the west side. Research how many wine and liquor stores there are. How big are the selections of those in that area? Test different areas.
You have truly excelled in completing a thorough analysis of your market competition and partnering vendors. From your previous assignments I already know this is a subject that you have great interest in and are quite knowledgeable in as well.
Keep on rocking Brandon!
- Angela
Hi Brandon, great job being so thorough in this assignment. It’s clear that you’ve put a lot of thought into your idea, and are much closer already to business plan than to idea. I can only imagine that the feedback you’ve received has helped you to further evolve your idea.
ReplyDeleteMy idea napkin may not be as thorough as yours but I believe we have a few things in common. Have a look at mine here.
It looks like you've gotten your business plan all worked out. I'm not sure if this is issue outside of Gainesville as well, but if it is, than there would definitely be a market for you to expand once you've established yourself here.
ReplyDeleteYou can see my napkin here: http://kjent3003.blogspot.com/2016/03/idea-napkin-no-2.html