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Kelley Connect Week Reflection

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I had expected to be familiar with much of what was shared over the course of Kelley Connect week, given that I had already completed two terms before attending & had a business background from my undergraduate education. However, I was pleasantly surprised at how many different topics were dissected during the classroom sessions, and at how strong a foundation these classes would provide in such a limited amount of time. Being able to instantly apply this foundation during our extensive group sessions furthered my understanding of these new concepts, and will allow me to continue to expand my knowledge base and apply them during the course of my career.

One of the most valuable lessons I learned during the classroom sessions related to decision …show more content…
We had proposed a strategy similar to what many other groups ultimately suggested, involving the improvement of their current strategy and the eventual implementation of a permanent truck in a new location. However after our first coaching session, we were encouraged and eventually decided to pursue one of our earlier ideas, that was far more ambitions and unique.

We recommended that Chad & Cory seek a location in town where they would operate a “food truck bar” called the Mouse Trap, in which the Big Cheeze & other local food trucks could park, while draft beer was served in an outdoor venue. We chose this option after seeing the success this type of model had in other cities, and analyzing the growth of this type of business in recent years, with 17 of these businesses being established in different US cities since …show more content…
Allowing other food trucks to participate would allow the Big Cheeze to take a share of their revenue, and effectively mitigating the risk of increased competition by positioning themselves as a partner & resource for other trucks rather than competition. In addition to the positive general industry data we obtained on bars in the US (IBIS Industry Report), we would limit costs by serving only draft beer, which has profit margins of 80-85%, among the highest of any item normally served in a bar (Baker Tilly). With the food element handled by the food trucks, a limited service bar such as this would require lower than normal startup costs, which we recommended be financed to further limit the initial down payment costs required. By financing the operation, this would allow the Mouse Trap to begin preparations for opening while continuing to operate both trucks, and before the additional cash flow from the second Big Cheeze truck was received. Not requiring the Big Cheeze to sacrificing any existing profit opportunities is critical in limiting the risk associated with this new venture, as they will be able to access the cash flows from both trucks in the event costs are higher than

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