Assignment 29A- Venture concept

Entrepreneurship:

- The opportunity for my business was to create a valet parking service for the the students and staff at the University of Florida, in order to make parking easier and for everyone.
- UF continues to create new parking garages, however, these parking garages are made for the people that do not need it.
- This businesses will be used to accommodate for everyone at UF, it will require a one time membership fee.
 - This business has to potential to become very large and spread to Universities, all around the United States.

Innovation:

- The University of Florida has many parking lots, however, many of them are only for certain decals and the other parking lots, do not have enough spaces.
- This is a business that offers a service, rather than a product.
- My competitors in this situation would be the University, as well as the bus and shuttle service that they offer. The busses are available, however, it is not convenient for most people.
- I will continue to make new partnerships with many more Universities, in order to grow my business

Venture Concept:

- Many students and staff members are not able to get to class and work at a great convenience because of all of the different bus routes and bus stops that they have to stop at in order to get to work
- The students that live off campus have to add a lot of extra time to their commute because of the bus.
- If the students were able to drive to school, then everything would be better for them. They will be bale to go home in a timely manner if they had to during the day, or in between classes.
- Setting up partnerships, within my business will allow it to continue to grow. This is why in my exit strategy I have decided to stick with my business, in order to watch it grow continuously.

Unfair Advantage:

I believe the unfair advantage that I have against my competitors, is that I have had experience with this issue and I have related to my customers a great deal. I believe that I have a great social capital, and I will be able to offer my customers things that nobody else will. Owning a business is about connecting with you customers, rather than just selling them a product or service.

What is next for the venture:

The next step is going to be to begin expanding the business. The company has the ability to expand in many different ways, rather than just providing this service to other major universities. It is truly amazing to think about all of the ways that this company can be successful.

What is next for me:

Creating this service will allow the University of Florida to show that they truly care about their students and staff members. I want to continue to expand my business and make going to school and work a lot easier for everyone.

Summary of Feedback:

I was not surprised to find out that many other people were interesting in the idea of my service. I am not the only person at UF that has seen the troubles with the parking situation at UF. I liked the feedback that I received from my elevator pitch, I believe with this feedback I was able to create a better elevator pitch, that will be more effective when pitching it to my future customers.

Comments

  1. Nick DeckerApril 27, 2020 at 2:44 PM

    Hey Taylor, I think you did a great job with this post and I think this is a great idea. I had not read very many of your blog posts before, but after reading this one it is clear to me that you have put a lot of thought into this idea and really tried to come up with the best possible solution for this problem that you mentioned. I really could have used a service like this my sophomore year when I did not have a scooter and had to walk long distances to class. Overall, I think you did a great job and I think this was a great idea.

    ReplyDelete

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