29A – Venture Concept No. 2

EVERGREEN VENDING MACHINES

Opportunity

Food choices and eating habits are impacted by a variety of individual and environmental factors. The school environment plays an important role in modelling and influencing eating behaviours in students, since a large part of their time is spent on school grounds. With the risk of obesity on the rise the school environment in regard to food is definitely a modifiable factor. With a lack of healthy affordable eating options on campus, a lot of students turn towards vending machines because they are fast, easy on the packet, satisfy cravings and easily accessible. Only problem is vending machines that are placed on each corner of campus are stocked with empty calories food items, sugary and fatty foods that provide little to no nutritional value to students. Vending machines are found in 98% of high schools and colleges, 74% in middle school and 43% in elementary school. Since vending machines are so commonly found all across schools, banning them will not be a good idea because it can lead students to look for food options elsewhere. Instead vending machines can be restocked with healthier options that meet USDA standards, ensure schools revenue is not decreasing and students stay satiated throughout the day.   The unmet that I have identified is for high school and college students. Over time students are becoming more aware of the risk and diseases associated with healthier eating habits and hence the opportunity i have identified will be successful because my service will be providing students with healthier options that satisfy their requirements and will be cost friendly as well. My product is meant for students currently in high school and college in the United States, from ages 15 to 24 and I later plan on expanding this idea globally. To attract students, our products will come with a nutritional value chart that will be displayed on the screen before purchasing it. The customers I interviewed were all health conscious, who either meal prep at home or when they are short on time, they prefer to buy a salad bowl or a wrap, burrito or protein poke bowl. Upon asking if they have stayed loyal to the food place where they purchase from, most replied yes and said that once a while they prefer cheat meals so i know my venture won't be facing any problem in regard to this. As long as students remain woke about their health, this window will remain open for a long time.

INNOVATION

To gather a better idea of student’s food eating habits for younger students of ages 15, a questionnaire will be made to address the questions of how many time students eat fruits and vegetables and how many times do they have other unhealthy options. To get more responses we plan on partnering up with schools we plan on setting up our vending machines in, to make this 5-minute questionnaire mandatory for all students. After that we plan on holding health campaigns across school.

Our idea is simple. We at Evergreen plan on partnering up with vendors who produce vending machines to design our own machines with appealing posters and colours that will attract students from afar. By collaborating with local startups we plan on stocking our vending machines with at least 10 items that will range from healthy wraps, burritos, grilled chicken or beef salad, fruit bowls, chicken poke bowl and the rest of the items will be decided accordingly. I also plan on packaging them in biodegradable materials that will be eco-friendly.  We also plan on keeping some food options for students with dietary concerns and restrictions which we plan on asking in the questionnaire. Later on we will also stock up on fruit juice. Since our products will be locally available, we will be taking customer feedback and reflecting on changes accordingly.

VENTURE CONCEPT

Health and good nutrition are essential during a child development stage. Students in their younger ages are really active and a good amount of their energy is spent in school activities. If they don’t fuel their bodies with healthy and nutrient dense foods, then in the long run that can lead to a lot of problems like obesity and diabetes, blood pressure etc due to unhealthy eating habits. With healthy vending machines on campus, students can especially develop a balanced diet and will have more options available to them. With vending machines placed on campus, students can avoid the hassle of standing in long lines, and since all college students are broke or are on a fixed budget, this would be the perfect fit for them. It might be a bit harder for some students who are picky eaters to switch but we plan on conducting weekly evaluations so that students' concerns can be addressed and reflected in a fast-fashioned manner. My competitors will be the fast food options on food courts. Their weakness is that students cannot afford to have food from there every day due to it being pricey and no good benefit. Since my father has a food packaging company, I plan on starting up something similar to that or may take over it after my dad retires. My vending machines will be located in convenient locations all across campus that will be easily accessible and will be placed in locations where students are mostly seen gathered. I plan on starting up with 2 other business partners and then 7 employees, whose roles will be collaborating with restaurants and delivery services, gathering feedback, organizing health campaigns and social media marketing, budgeting our costs, packaging etc.

The three minor elements.

My most important resource will be the skills that I have gained by working alongside my father in his packaging company where he exports food items. Seeing the machinery and items required I have a better idea of how food is prepared and stored and what machines are required.

My next venture will be expanding this locally in my home country, because back home the majority of the schools have no concepts of vending machines, instead they have a single cafeteria. So, I think it would be easiest to establish it there.

I plan on doing my masters and establishing my own accounting and tax firm. This venture is something on the side because it's something I have struggled with personally and therefore am passionate about making this work.

FEEDBACK: A lot of the feedback I received from students was quite positive and they seemed excited to know more about this business venture. The recommendations I got were to incorporate all kinds of cuisines, so students get a taste of different cultures as well as stay satisfied with just a simple salad or wrap. Most students had concerns regarding the price, but I reassured them it wouldn’t be pocket friendly and something they would be able to afford on a day to day basis if they chose to eat out every day. Speaking to the principal of my high school back in my home country, she would definitely love to see an idea like that in her school.