The Vegan Dog Kit is a fast-moving customer goods/ fast-food company whose goal is to disrupt the market by making a beloved dish healthier and accessible for populations with diverse dietary choices. The company produces hot dogs without using animal products. Besides, “vegan dogs” are made of natural ingredients and contain fewer calories while keeping all the necessary nutrients. By entering the fast-food/ FMCG market, The Vegan Dog Kit seeks to strike a chord with two target audiences at once – vegans and fans of clean eating.
According to statistics, the number of vegetarianism in the United States is on the rise: as of 2018, five per cent of the population adheres to a meatless diet, with half of them practising veganism. Many of them struggle to find cruelty-free versions of the dishes and products that they liked before changing their diet. With The Vegan Dog Kit, vegans and vegetarians will no longer have to pass on their favourite snack. The new product is likely to be big with the fans of healthy eating who want to be sure of the contents of what they consume. One more group of people that typically tracks what they eat and that is likely to be satisfied with the new product is diabetes patients. Lastly, The Vegan Dog might also get popular with those who are just into trying out new dishes and like to be adventurous with food.
As of now, The Vegan Dog Kit is targeting one particular demographic – sports fans attending games. Hot dogs and burgers are two typical kinds of food served at stadiums. Since other food businesses are not allowed unless they were specifically authorized to do so, hungry fans have to limit themselves to the available options. It is readily imaginable how frustrating it might be not to be able to have a snack because of a diet or ethical views. This is where The Vegan Dog Kit has sports fans covered by offering them a healthier alternative that is as tasty as the original. In summation, the original idea behind The Vegan Dog Kit is to sell directly to fans in the tailgating type of setting.
Evidently, The Vegan Dog Kit is not the first company that is making vegan versions of regular dishes. One of the direct competitors of the new business is Qdoba Mexican Grill (Impossible Meat). The company sells its products at $7.60-8.80 depending on toppings, which is somewhat higher than the prices at The Vegan Dog Kit. Twisted Foods Meal Prep serves its products at even higher prices ($8.99-10.99). As compared to Twisted Foods Meal Prep, The Vegan Dog Kit offers a more internationally known food, just in a healthier way. The popular food chains Pizza Hut and Burger King might stand a competition with their vegan options such as veggie pizza. Yet, The Vegan Dog Kit has a menu that is entirely vegan, therefore, not making clients waste time looking for diet-appropriate variants. The Vegan Dog Kit targets three markets: college football (Sept.-Nov.), college basketball (Dec.-Mar.), and college baseball (Apr.-Aug).
Below is a brief outline of the funding needed to start the business:
- Organization and Capitalized Expenses: 40,000 roughly;
- Manufacturing and Office Equipment Bikes, Coolers & grills: $5,000;
- Working Capital: $50,000;
- Total Startup Costs: $95,000.