Week 12 - Venture Concept No. 1

FoodRX

Opportunity:

FoodRX works with the community. The more medical issues arise the more dietary restrictions weigh on the common individual. The need for wholesome, clean meals is becoming more scarce as the evolution of chemically grown foods concentrate the market. GMOs, and lab raised produce, as well, as vegetables are becoming more common. Fresh and natural ingredients are soon to be thing of the past. FoodRX serves the greater part of the community, providing an easy and convenient way to meet nutritional needs. Many customers rave about the service provided by FoodRX. It is safe to say that a service like FoodRX is a big opportunity, a way to help, address, and relieve customers of their daily struggles. As long as there are medical issues needing to be addressed in relation to a person’s diet, FoodRX will continue to have a window of opportunity.

Innovation:

FoodRX is a service provided to those who struggle with medical issues that ultimately affect their dietary needs. FoodRX creates a relationship with the customer through referrals and client meets. Through this initial meeting, the customer will express to FoodRX representatives what they may be dealing with and how FoodRX can help with the area they may be struggling with. Questions can range from: I have trouble finding gluten-free ingredients to add to my foods? What can I add to my diet that can substitute nutrients from red meat? Etc.  

We then format an ideal meal for them, and educate them on how this meal is constructed, what is consist of, and what each ingredient may be composed of. We explain how and where we obtain our fresh foods. We try to educate our customers as much as possible so they can become aware of how FoodRX can make their lifestyle easier, healthier, and full of mental and physical benefits. FoodRX makes money on customers coming in and customizing their meals. We provide a one-on-one evaluation of each client per case. The customer then decides if they would like to give FoodRX a try in providing their body the benefits offered by our service.

FoodRX sells individual meals, weekly subscriptions, as well as, shakes/smoothies.

Each meal starts at $12 and may rise depending on extra additives. A 5-day meal plan, 1 meal a day, runs about $55, depending on additives. Our shakes/smoothies run $8 a piece, also depending on any extra additives, such as, energy, anti-oxidants, green tea, and/or immunity.

Venture Concept:

Customers will definitely be inclined to switch to FoodRX. The market for this type of service is very competitive. Getting customers to begin using our service would be easy once they learn what the company is about and how it is that we operate.  Possible competitors are local “healthy eats” that serve more or less the same market. However, what sets us apart from others is our ability to work with medical professionals. We are approved by physicians, specialist, and nutritionist.  However, possible weaknesses of FoodRX is the ability to obtain the freshest ingredients possible, as well as, the lack of variety when it comes to different combinations of food components. Packaging establishes the look, and the association customers to have to the FoodRX brand. Prices are in mid-range considering that the meal plans are custom and are approved from various types of medical professionals. Distribution through channel marketing is extremely important in this line of work. FoodRX distributes the majority of its customer awareness through medical practices. Ultimately, referrals to patients from their practitioners. Through customer support we obtain business through word of mouth and usually allows for existing customers to share their superb experience through recognizable life changes provided by FoodRX. Being that our home base is located in Miami, Florida, we definitely have the upper hand in addressing more than one disease, illness, cultural group, and even race. Our target market has significantly widened through Miami’s urban population.

As FoodRX continues to grow in more than just preparing meals, by adding new products to our venture, the business concept inevitably changes when it comes to demographics. To organize a business, to support the ongoing production of our service and product a few things come into play. First, research. Second, funds are needed to begin the findings of fresh, and natural ingredients. Next, experience, background, and networking our necessary to communicate with the right professionals where we can find the market necessary for the product and service FoodRX will provide. Once the partnerships with reputable medical professional are made, we begin to market our product. A store front for FoodRX should be located in a busy, semi-professional, young to middle aged neighborhood where customers can find it accessible and convenient. Employees needed per store should vary on volume. Since FoodRX will offer on the spot meals, as well as, prepped weekly meals, shakes/smoothies, employees of food background are especially helpful. FoodRX wants to employ individuals that are passionate about helping others in need as well as conserving the environment. As a business, having a motto and specific goals are important and are to be implemented each and everyday.

The Three Minor Elements:

The most important resource for FoodRX is the freshness and natural aspect of the food/ingredients used to compile meals. Besides our actual product and service or even process, FoodRX will make it hard for competitors to copy passion. Our beginning began with the idea of helping others, our process and progress in the business continues because of our passion. Success comes from the FoodRX team working along side each other to reach a goal.  

FoodRX has just started. With rapid growth we hope to open more locations across the country. We hope to make our consumers and our community more aware of how limitations on consumption can ultimately be taken care of. We want to inform and reintroduce individuals to the idea of eating natural to provide benefits to mind, body, and soul.

FoodRX will soon begin to introduce shakes/smoothies to our existing customers. Over the last few months of being significantly successful in the food aspect of FoodRX, we found that many customers had limited time for a healthy snack. Due to feedback and results from marketing, we have found that this new product will be popular amongst our customer base. As an entrepreneur, my next move is creating a brand that incorporates FoodRX’s motto. In five years, I hope that FoodRX becomes well known and that my locations begin to be franchised. In the following decade, FoodRX will help me achieve my goal of making individuals aware of healthy alternatives. I hope, with the help of my business, to become a spokesperson for the ill, providing assistance, alternatives, and support through seminars and conventions.