Venture Concept No. 1-Dillon Dunn

There has been a resurgence of people looking for low cost, high quality food. Many people have turned to fast food their daily bread over the past decade, but many consumers have started hunting for healthier options at the same price point. The more educated have become more health conscious and have spearheaded this movement towards healthier fast food. This is a great opportunity for food manufacturers to target the young, college market with healthy, cheap food options. Many rising brands offer quality food, but at a higher price. These brands offer rewards for purchasing their products and services. Fast food offers no such rewards and therefore does not yield very loyal customers. There is a great window of opportunity that has existed for some time in the food market to swipe up those looking for cheaper, higher quality food. The opportunity to capture the college food market with an alternative to fast food is a growing one that has not yet been fully captured. Jelly Jams hopes to take that next step by opening a small place of service, either in a shopping location or as a food truck. By making the food more convenient and keeping the location small, Jelly Jams can offer a quality, low cost product in the most convenient way possible.

The time has come for an innovative solution to consumer’s fast food needs. Jelly Jams offers quality food at a low price by catering one of the cheapest foods to produce: Peanut butter and Jelly sandwiches. Peanut butter and Jelly sandwiches offer a good mix of nutritional value by including a healthy variety of carbs, fats, and protein while also being made of mostly fruits, vegetables, and legumes. Peanut butter and jelly sandwiches can be made healthier than traditional variety as well. By utilizing no sugar added jellies, low or reduced fat peanut butter, and whole grain bread, peanut butter and jelly sandwiches can almost be labeled as super food. They can even be further enhanced with a variety of healthy choice toppings such as honey, fresh fruit, crushed nuts, and even healthy meats. Here is where the peanut butter and jelly sandwich truly becomes innovative. The price. The average production cost of a single peanut butter and jelly sandwich can be as low as $0.10! The production price allows the food to be sold at incredibly low costs while still maintain high margins. The true unfair advantage comes from the flavor. Jelly Jams will offer several varieties of homemade peanut butter including our special ingredient. But that is TOP SECRET!  

Jelly Jams’ customers will have a variety of reasons to switch from their current, drab fast food habits. The most important reason people will have to switch is the price. By keeping costs down, people will not have to consider price a factor in their decision to eat quality food. Switching will be as easy as driving past McDonalds and buying a high quality sandwich from Jelly Jams! Naturally, some people may have a harder time breaking their fast food habit. This means that several fast food competitors may still exist in the market vying for Jelly Jams’ customers. There is also the potential vulnerability in people’s tastes for sweeter lunch time foods as opposed to the saltier options currently on people palates. However, Jelly Jams has another tool in its arsenal. By offering creative packaging (likes cardboard lunchboxes), keeping distribution simple and cost effective through local suppliers, and offering the nostalgic experience of a childhood peanut butter and jelly experience, Jelly Jams has what it takes to jam up its competition. Jelly Jams future depends on other franchises opening up across the nation in college areas. By franchising, Jelly Jams can assist future entrepreneurs under the brand become profitable by utilizing their own local food markets and (with a little of the secret ingredient) enable them to take town the fast food tyrants. In five years, Jelly Jams will have several locations across the state, with an eye set for nationalization. As an entrepreneur, my goal will be to take my businesses from 0 to 60 in hopes that someone else can take over the driver’s seat and I can ride my way to success!

Amazon Whisperer-Dillon Dunn

What is next in my business idea is to take the peanut butters and jellies we sell in our restaurant and sell them in jars at a grocery store or farmers market. I believe if we have a good following at our restaurant that people will want to buy our products to take home for themselves! Most complaints that we see online is that the peanut butters taste processed, with our peanut butter you would be able to taste how fresh the product is and that it actually is all natural! I also think if a customer tries our peanut butter or jelly from the store and they like it, they will be more inclined to come visit our restaurant!

Week 11 Reading Reflection-Dillon Dunn

This article was actually super interesting and super informative. It defiantly got my creative juices flowing. The article taught about really different things, it really covered a blanket of things unlike the text book usually does. my favorite section would have to be where it told us about leadership. For some reason when I think of running a business I don't typically think of leadership, but it actually plays a big part in running a business. Overall it was a great article!

My Unfair Advantage-Dillon Dunn

1. My knowledge-Mind set of a entrepreneur, I am also very good with numbers.
2. My business partner (Reese) knowledge- Knows how to make a website.
3. My business partner (Marie) knowledge- Came up with the peanut butter recipe.
4. $10,000 Start up money-A small amount of Capitol to start up with.
5. recipe for a special peanut butter-Have a secrete recipe for peanut butter that would be hard to copy.
6. The mind-set of the target market-I am the ideal customer for my business.
7. My step father as a mentor- Has owned his own business for over 25 years.
8. Living in the ideal city for my business to grow-Living in Gainesville is perfect for our business since our target market is college students.
9. Have connections with local peanut farmer-Get a discount on peanuts that we use to make peanut butter.
10. Have an old family Jelly recipe-Have a secrete jelly recipe that would be hard to copy.

I think that our most valuable asset is our peanut butter recipe. We have been told by everyone who has tried our peanut butter that it is the best peanut butter that they have ever tasted in their life.

*****In case you haven't looked at my blog my idea is to start a peanut butter and jelly restaurant in Gainesville.

Week 10 Reading Reflection-Dillon Dunn

In this chapter of the textbook it was very boring! I feel that it went over a lot of what I learned in my previous accounting classes. I did however enjoy the refresher on the basics of accounting, and it did go over more in depth of why we care about certain things such as the balancing sheet and income statement. I was also introduced to the break-even analysis, which was actually very interesting. Overall this chapter was boring because I was familiar with most things that were said in the chapter!

Elevator Pitch No. 3-Dillon Dunn

https://www.youtube.com/watch?v=wGOLIho5Wzc&feature=youtu.be

The feedback on my last video was that I needed to film in a quieter place, so I filmed inside this time!  As for my actual pitch I did not receive any direction on where to go so I made some minor adjustments to the things I said. Enjoy!

My Secret Sauce-Dillon Dunn

1) Describe five ways in which you think you have human capital that is truly unique.

• My ability to get along with people
• My good work ethic
• My ability to hold a conversation
• My ability to think of solutions
•  My creative mind

2) Interview the five people who know you the best.

Interview # 1
 https://www.youtube.com/watch?v=c6cv2i3jo4M

Interview # 2
 https://www.youtube.com/watch?v=N7Y_sj7rKjw

Interview # 3
https://www.youtube.com/watch?v=xnlCdosgOKU

Interview # 4
 https://www.youtube.com/watch?v=znFvUf6_1_c

Interview # 5    
https://www.youtube.com/watch?v=Wh8OcG_oA8Q

3) Reflect on the differences. 

There weren't  really any differences in what my friends said and what I said, but they did not include some of the things that I said which was kind of disappointing. 

Week 9 Reading Reflection-Dillon Dunn

I thought this chapter of reading was one of the more interesting that came from the textbook! It really teaches the reader how to reach out to the potential customers and keep the company focused on one vision. The textbook even went down to the small details like how to present pricing! I liked how the textbook did not miss any avenue of marketing. The only thing that I could possible complain about this chapter is that I feel that there was to much detail in the information it gave us. I feel at some points the textbook was repeating itself.

Idea Napkin No. 2-Dillon Dunn

My name is Dillon Dunn and I attend the University of Florida. Have you ever missed the feeling of being at home with your mom and dad? Do you ever wish you could go back in time and relive your childhood? My idea cant take you back to your childhood. My idea will give you a nostalgic feel of what it is like to be back at home. My idea is Jelly Jams! Jelly Jams is a peanut butter and jelly restaurant that is specialized in giving the nostalgic feel of your childhood. Our sandwiches are designed to make you feel as if you are eating a PB&J back at home with your family. Not only will our product make you feel as if you are in your childhood again it also tastes amazing! All of our ingredients are locally sourced, and all organic. The target market for Jelly Jams is the typical college student that misses their life at home! A meal which would include a sandwich, banana chips, and a drink will cost about 7$ to the customer while only costing us 2$ to make. With not a ton of cheap healthy restaurants in the Gainesville area, I plan on satisfying the hole in the market place and making a lot of money while doing it!