President's Challenge Presentation Balanced | Summary and Q&A

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June 4, 2012
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Harvard Innovation Labs
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President's Challenge Presentation Balanced

TL;DR

Balanced Kitchen aims to address the lack of healthy dining options in the US restaurant industry and offers a comprehensive menu with healthier versions of popular dishes. They plan to create a clean yet comfortable dining atmosphere and utilize technology to enhance the customer experience.

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Key Insights

  • πŸ§‘ The US has a significant obesity problem, with nearly 70% of the adult population overweight or obese.
  • πŸ§‘β€βš•οΈ The restaurant industry has recognized the demand for healthy options and is focusing on health and sustainability trends.
  • πŸ˜‹ Limited choices, higher prices, and prejudices about taste are still barriers preventing people from choosing healthy food.
  • πŸ˜‹ Balanced Kitchen aims to provide a comprehensive menu with healthier versions of popular dishes to change people's perception of healthy food.
  • 🌱 The restaurant plans to create a clean and comfortable dining atmosphere and utilize technology to enhance the customer experience.
  • πŸ₯° They have a strong team with expertise in areas such as consulting, law, nutrition, and culinary arts.
  • βœ‹ Balanced Kitchen has identified Boston and Cambridge as ideal locations due to their high population density, educated demographic, and demand for lunch alternatives.
  • πŸ‡ΊπŸ‡³ The company has a clear vision to expand beyond one unit and reach the entire nation, saving customers up to 70 tons of fat annually.

Transcript

hi my name is valerie i'm from germany and i'm a former mckinsey consultant my name is amalia i'm from spain and i'm a lawyer by training and together with our third team member rebecca who unfortunately can't be here today we are team balanced so i want to quickly talk about how we came up with the idea of working on a healthy restaurant so amalia... Read More

Questions & Answers

Q: What was the motivation behind starting Balanced Kitchen?

Valerie and Amalia were inspired by their personal experience of gaining weight in the US and the shocking data on American obesity. They saw an opportunity to provide healthier dining options to address this issue.

Q: How is Balanced Kitchen different from other restaurants offering healthy food?

Balanced Kitchen not only offers a comprehensive menu with healthier versions of popular dishes, but also aims to change people's perception of healthy food. They want to show that healthy food can be delicious and satisfying, and provide options beyond just salads.

Q: How does Balanced Kitchen plan to enhance the customer experience?

Balanced Kitchen plans to create a clean and comfortable dining atmosphere, similar to being at home. They will also utilize technology by replacing traditional menus with tablets, allowing customers to view pictures of dishes, write reviews, and even engage in activities to reduce waiting time.

Q: What are the financial projections for Balanced Kitchen?

Balanced Kitchen plans to generate $1 million in revenue within the first year and increase it to $1.5 million within three years. Their net income target is 10% with an EBIT margin of 12%. They are seeking an investment of $850,000 to achieve these goals.

Summary & Key Takeaways

  • Valerie and Amalia were shocked by the data on American obesity and realized the need for more healthy dining options.

  • The restaurant industry is responding to the trend, with many establishments offering healthy menu items and focusing on sustainability.

  • Despite the availability of healthy options, people still choose unhealthy food due to limited choices, higher prices, and prejudices about taste.

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