For my venture idea, I’ll pick up where I left off. I’m ready to pitch my idea about my juice and sandwich shop that I once operated in Alanya, Turkey. Although I know there are a lot of other companies that offer juice, smoothies, coffee, and sandwiches, in Alanya now, I do strongly believe that “DJ’s Favorite Juices” (DJ’s) could once again rise and be a profitable business.
The focus on health and eating right is greater than ever. It is a trend that has developed over the past ten (10) years and is still growing. Eating right and not turning to an unhealthy snack during the day, is rapidly being replaced by healthier choices. In today’s fast-paced society, it seems that many of us measure our meals by minutes rather than what is good for us. If it isn’t fast, it doesn’t fit into our schedule, and we don’t want it. We turn to food we know is bad for us in an effort to save time, and in some cases we will skip eating altogether. Eating healthy, and eating fast, do not have to be mutually exclusive.
People are getting more concerned about what they eat and drink, every calorie counts. People in our target group are relatively more aware of what they eat and drink and tend to spend more on health compared to people who are out of, under, or above the age group. The customers are locals and tourists; and our product line appeals to everyone within the target group regardless nationality. DJ’s’ focuses on the young independent individuals who are able and willing to spend the same amount as one would on fast food.
DJ’s will be widely spread over the main bazaar area and Alanya through different promotions. We will have posters at bus stops and a promotion video on the busses. We will create a Facebook page for people to follow with a monthly competition and make brochures to hand out to people walking by the store and around the bazaar. This will promote the sale and let potential customers know that DJ’s is out there and ready to serve healthy beverages and food. In order to build up its client base, DJ’s will use banners and fliers and cross-promotions with other businesses in the Alanya area.
DJ’s marketing strategy will focus on getting new customers, getting customers to spend more, and come back more often. Having a loyal customer base is the most important for DJ’s since such customer core will not only generate most of the sales but they will also recommend DJ’s to others.
DJ’s will position itself as unique healthy fast food place where its customers can not only enjoy a freshly squeezed juice/smoothie and sandwich but also spend their time in a relaxing environment. Comfortable sofas and chairs, dimmed light and quiet relaxing music will help the customers to relax from the daily stresses and will differentiate DJ’s from its competitors.
We definitely do live in a day and age where people now more than ever are more concerned about their well-being and remaining healthy. Its become quite the trend actually. Having your market strategy focused on getting new customers and maintaining loyal ones is a great idea and will no doubt result in the most revenue for your business.
Your reentry into the same business gives you advantage. It’s very nice that you have a specific location in mind and identified your market and position. But I think the competition analysis can be more detailed, especially you can combine your position when talks about your competitive advantage over your competitors.
When you present the idea, I hope you can highlight the opportunity with more statistics. For example, the bazaar is obviously ideal for getting tourist customers. How many visitors does it have everyday?
For local customers, what will be the average income level for your customers? Age? Can you find the demographic statistics for that?
Hi Professor,
I’ll definitely add more statistics when presenting the idea. I’ve done a lot of research to figure out the exact numbers. I have all the data in my business plan. Thank you for your feedback.
I think it is a great a idea to pursue a business which you believe in, no matter if you have already tried once.
And getting through the business there is no doubt that the population is realy conscious about health and that makes your product be in a great position.
But what I think that can gives added value to the business is what you mention about being able to give fast food that actually is healthy, but in somehow the product woulld have to be or more expensive to be able to have this kind or product, or how do you think you can provide this products to compete with other fast food sellers?
Great questions. Turkey is very cheap compared to the U.S. The numbers I’ll present on Monday are very low compared to NY prices, but wages and rent are substantially lower compared to other European and North American cities/countries. Thank you for your feedback.
The fact that you were in this business a firm means you probably might have learned from your previous mistakes which is a good thing.
I don’t really know Turkey enough, but I feel like, when discussing about competition, you just focused on other food locations. However, I think you should also be focusing on supermarkets that sell brands such as Innocent, and other bottled organic beverages and smoothies. Do you think people who know they can purchase these at the supermarket will still find it “necessary” to sit in a lounge/restaurant to buy these?
Also, aren’t there any issues regarding finding suppliers from whom you can purchase bio/organic fresh fruits and vegetables? Do they have a specialized seller (who sells in bulk) for organic foods?
Great idea. I guess I haven’t really thought about that. I know the supermarkets in Turkey aren’t as “developed” as American and other European cities/countries. They don’t have the same wide selection of smoothies and juices as we see her in the U.S. I’ll definitely look into that.
I like your idea of positioning DJ’s as unique healthy fast food, that’s really what society needs. We need more healthy meal options. I also think it’s a great idea to provide customers with furniture that will make them feel comfortable and relaxed; it is a very creative and innovative idea since a lot of fast food places do not necessarily provide these kind of environment; they customized too much their products (Mc Donald’s big mac for example) in order to sell more to customers and forget about these kind of details that are important in the success of a business too. I like that your venture idea focuses on health and fast-food at the same time =D!