Idea to Opportunity Feasibility Template

Ideas are a dime a dozen. So you need more than and idea to start a successful specialty food business. You need to know your idea is a real opportunity. Just because a few people taste your recipes does not mean they will “vote with their dollars” and buy the product in a grocery retailer. An opportunity is an idea that has the following qualities:

  • Attractive
  • Durable
  • Timely
  • Adding value to the end user

 
The Attributes below are only examples to illustrate how you may approach defining Attractive, Durable, Timely and Value. Add those that are pertinent to your business or product.

The ADTV Model is a valuable component in your food entrepreneur’s toolbox. Consider it one of your first ingredients in getting your product out of the kitchen.

Attractive

Why will they buy?

Some Attributes to consider:

  • Price
  • Quality
  • Special Features or Benefits (ie: Gluten Free, Low Glycemic, Allergen Free)
  • Other attributes you consider critical in your product

 

Durable

Why will this be around long-term?

Some Attributes to consider:

  • Concept
  • Management
  • Marketing
  • Growth Model
  • Profitable Business Model
  • Replicability
  • Scalability
  • Other attributes you consider critical in your product

 

Timely

How do consumers benefit?

Some Attributes to consider:

  • Health Trends
  • Time Trends
  • Economic Trends
  • Market Segments in Area
  • Other attributes you consider critical in your product

 

Value

How do consumers benefit?

Some Attributes to consider:

  • Affordable
  • Convenience
  • Sustainable
  • Healthy
  • Other attributes you consider critical in your product

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