Idea Napkin No. 1

You: My name is John Dillon- I’m a sophomore computer science major at the University of Florida, and I love asking the big questions in life and forging new paths. This is something I’ve had from a young age- my mom was a mathematics teacher, and my dad an aerospace engineer turned tech executive. They’ve always taught me not only to ask how, but why, and why not? Challenging the norm is my default. I’m very skilled with software development and anything tech related, as well as anything engineering, or development related. In addition, I possess good leadership skills from my times as officers of organizations both at the high school and collegiate level, as well as an intern at tech firms. Due to my beyond-my-years maturity, I’ve always been treated as an adult from a young age. This has allowed me to grow up fast, to see the world for what it truly is, and to think on my feet.

In regard to my aspirations, one of my biggest goals in life is to be a good family man. Being a good husband / father are of utmost importance, and they drive a lot of what I do. While I enjoy challenging the boundaries of what is possible with tech and learning new things, I also enjoy spending time with those I love. I think that those who we surround ourselves with have a more profound impact upon us than anything. As a result, I see this business being a way for me to quit the 9-5 life early on, setting my own hours, and selling out early so that I can maximize the time that I can spend with my family. I enjoy the notions of passive income and investing, and I am planning to retire before 45 so that I can maximize what I get out of life with travelling, activities, sports, seeing my kids grow up, etc. Obviously, this is all subject to change, but this has been my plan for the last few years.

What are you offering to customers?: I am offering my customers an inexpensive and better solution to bagging (for takeout/carryout/fast food) so that they can build better customer relations, retain customers, and increase revenue/cashflow in the process. The goal with my product is to help customers help their customers, helping themselves in the process. I truly believe that this product is a win-win for every customer involved.

This product is a new take on the typical, lackluster, super thin and poor-quality paper or plastic bag that is provided to you when you order fast-food or takeout. Such bags leak, lose heat, get soggy, have a negative footprint on the environment… the list goes on and on. But most importantly for our customers (the businesses), it annoys their customers and leaves a bad impression. Let’s be real- no one likes it when their Chipotle leaks out of their bowl- soaking the bag, causing their car to smell like salsa and beans for the next two weeks.

The product is leakproof, lightweight, insulated, low cost, and has an efficient zipper design to keep heat and contents in (forget dropping food on the floor!). The bag can come in a variety of sizes (small, medium, large, extra-large) and contain branding of choice corresponding with the customer.

Who are you offering it to?: I’m offering this product primarily to franchised restaurants/fast-food chains that face high competition in their market (think Chipotle, McDonalds, Chick-Fil-A, Burger King, and the like). The reason for this is 1) such customers have capital to spend and 2) the need and desire to build customer loyalty, better customer relations, and provide a better customer experience. This is at the forefront of what it means to be a business. It’s all about making money and pleasing the customer.

Why do they care?: My customers care about my product because they care about THEIR customers, their experiences, and getting their money. They want (and need) to build positive relationships with their customers, to retain their business, and to get as much of it as physically possible in order to survive, grow, and continue to make shareholders happy. It’s a part of the corporate/franchised world that is the fast-food and restaurant industry. My customers already pay for bags out of necessity- if they can pay more and get better customer experiences and more business out of it, they clearly would! Companies spend millions on advertising and product development in order to get business, beat out competitors, and to stay relevant in their highly competitive marketplace. They won’t flinch at this tiny increase in cost, especially due to the increase in revenue it will net.

What are your core competencies?: What sets me apart from everyone else is that I’m willing to propose and act upon an idea that challenges the current trends and norms in the restaurant/fast-food industry. I’m willing to do whatever it takes to bring a product that truly makes a day to day difference into the marketplace for both customers and for businesses.

Due to the fact that this product is very much so in its infancy and the exact details (design, manufacturing, price, and the capital needed for such costs) are still vague, I can’t quite pinpoint exactly what I have that nobody else has. So far as my research into what is out there has shown me, no one else is offering a product like what I’m offering. This is why I believe there is a hole in the market, an opening for my business to come in.

I definitely need to consult different manufacturers and get advice from people with more experience in the industry before I can turn this vague picture into a more defined one, and it is something that I’ve been actively doing as this is progressing more and more forward and as my vision for the product and business becomes more clear.

Someone else could definitely copy this and compete, so I would either need to find a way to copyright/patent my product, or to build strong enough customer relations/sign contracts in order to secure clients and their business.

Evaluation: Overall, I truly feel that I have a cohesive plan. There are still some vague areas and missing links (exact product details, design, manufacturing and patenting, how to conduct the sales (contracting, licensing, direct B2B, etc…)) for which I need to get some expert opinions on. These are areas in which my knowledge is lacking, and as such I need to do my due diligence and research. Aside from this, I think my idea is good, but with a little refinement could be great and a winner.