- You: My name is Imelda Ogango and I'm an APK major with a French minor on the pre-med track. I've been fortunate enough to have experiences in different fields such as healthcare and international studies which I think have strengthened my ability to understand and communicate with people from various backgrounds. While I ultimately want to pursue a career in medicine overseas, I would like to see my delivery idea help people in need.
- What are you offering to customers? I am offering an affordable delivery service of everyday items to customers who are otherwise unable to go to the store and buy things themselves. My idea will work as a standalone site that is stocked similar to a typical grocery or convenience store with an app that customers can quickly order items online. There will also be hired drivers that will eliminate the need for a third-party service and ultimately keep prices low for customers.
- Who are you offering it to? This service will be catered to individuals who are burdened by time constraints, transportation limitations, or a physical inability to shop.
- Why do they care? In the past few years, we have seen a rise in companies that offer fast delivery times (i.e. AmazonPrime free two-day shipping) as well as more restaurants offering their menu on third-party apps for delivery (i.e. UberEats and BiteSquad). However, the cost of having an AmazonPrime account or paying up to $5 in fees for food, even more during "surge" or "popular times" can add up. I believe customers would care about my service because it will bring them everyday things they actually need at a low price.
- What are your core competencies? There is currently a similar business model that exists with my idea called GoPuff that has around 55 locations around the country. However, they recently have had trouble with privacy and sharing consumer's private information. My service will have an explicit privacy policy that will prevent things like that from happening. I also hope to be more widespread around the U.S. and eventually move overseas to developing countries where we can offer aid to those in need (i.e. clean water, fresh food, medication).
I think these elements work well together in turning this concept into reality. There is an unmet need for a relatively large demographic that could be met with this delivery service. However, I think the biggest weakness would be my lack of marketing and business knowledge.
Imelda,
ReplyDeleteI think this is a great idea and great introduction to the way you think. The product is a very good idea and I believe that many people will use it. The layout of your business plan and where you believe this will take you are fairly accurate and applicable. I also like how you identify that his isn't a new concept but instead use them as references in order to better your product. Another thing I found that was a strong point of your post was providing a good amount of detail into your past. This allowed me to make a connection to the direction you were taking with this product. This was a great post.
I think your idea is too similar to other services that already exists. I do not think that providing a better privacy policy is going to make your service stand out to others. You would need to be able to offer a lower price, better customer service, or faster service. If you were able to provide one or more of these you could gain market share and grow your business to multiple cities.
ReplyDeleteAs Catherine mentioned, I think you might have a problem when it comes to the number of existing competitors that already offer this service. They may have achieved "economies of scale" that would allow them to keep their prices down while you may struggle to do so. While I think it is a great idea, I think from a price standpoint it might be hard to deliver. There may be ways, however, that you can differentiate yourself from others, ie. focus on customer service rather than price (people who can't leave their homes often get lonely, so providing a service that is more than just a delivery might make them want to keep using yours!)
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