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Transcript of Burrito box
- 1. Starting a New Business, Developing a Product, and Entering an Established Market
2. DC Street Food
- Moratorium on new permits from 1998-2006
- 2006 DCRA survey lists varietyand quality as 1 & 2 concerns, respectively
- 82% of respondents demanded more variety
- 84% of respondents demanded more ethnic cuisine
- 56% of respondents demanded more healthy choices
Burrito Box: A Case Study 03/23/11 3. Not All Carts Are Mobile 7-Elevens!
- On The Fly franchise emerges in 2007-
- Puputella Pizza cart
- Pedro & Vinnys
- Market rewards innovation, taste
Burrito Box: A Case Study 03/23/11 4. No new vendor permits- DC Red Tape
- What about Arlington, VA?
- High density commercial and residential space
- Same tastes and preferences
- Transparent process for entrepreneurs
- Ballston and Rosslyn are near stand-ins for DC
Burrito Box: A Case Study 03/23/11 5. First Come, First Served, Arlington, VA
- Ballston submarket, in particular, looks promising
- Very few street vendors
- Expensive commercial real estate
- Few, if any, unique dining establishments
Burrito Box: A Case Study 03/23/11 6. Logistics
- Kitchen equipment
Burrito Box: A Case Study 03/23/11 7. How Will the Business be Defined?
- Rethink street meat
- Local/organic (realistic?)
- Appeals to all-including Vegetarian options
- Environmentally friendly (100% recycled packaging)
Burrito Box: A Case Study 03/23/11 8. Developing the Concept and the Brand
- Tex-Mex- Easy, familiar, success of Pedro & Vinnys, fitting (client is a Texan, after all)
- Burrito Box- Call it what it is!
- Use CrowdSpring to find a fitting logo
Burrito Box: A Case Study 03/23/11 9. Burrito Box: A Case Study 03/23/11 10. Finances & Pricing Strategies
- Given fixed and variable costs, what are breakeven sales?
- What are expected sales?
- How can the business expand?
- Market-driven, instead of Cost-driven pricing?
Burrito Box: A Case Study 03/23/11 11. Attracting Customers
- How to capture high volume foot-traffic?
- Let Abe Buy Lunch
- Mall Food Courts are so 90s
- Focus on customer service, given size
Burrito Box: A Case Study 03/23/11 12. Takeaways
- Focus was on business model, not food
- No reserve capital
- Too few cooks in the kitchen!
Burrito Box: A Case Study 03/23/11 13.