Venture Concept No. 2

Opportunity:

The biggest opportunity that I identified is the need for transportation to get across campus where mopeds and buses do not have access to. Most people have this need because parking for scooters are typically further away from buildings or the roads are not even close to the actual classroom lecture halls. These same classrooms and lecture halls are places that faculty have their meetings, so they encounter the same struggles that students do. Therefore, the most likely potential customer will be students and also the faculty on campus. There is opportunity to take advantage of visitors to the campus as well because they will see the convenience and feel the excitement when riding one. College campuses are growing, and if it is taken advantage of on one campus, then it can be on other campuses too. The main target, students, will be loyal to this product because majority go to the downtown area of their hometowns and are able to ride these scooters. With that being said, they will utilize the service on campus too. This window of opportunity will be open until another transportation system is brought to the University of Florida, but even then it is still an opportunity on other campuses.

Innovation:

This is a transportation service to those who want to get around quicker without purchasing an expensive scooter that can only be used on roads. These electric scooters are friendly for roads, sidewalks, and grass pathways. Customers will be able to start the start the scooter for a $.75 cent charge and for every minute they are on the scooter it will charge them $.10 cent. They will be able to see the time the scooter is running on the small scooter screen, and the charges will be applied to a link debit or credit card.

Venture Concept:

I am confident that customers will make the switch. College students like to have fun and they are more willing to spend. They will pay for an experience. It will not be hard to market and spread because once a few students are seen riding around then others will ride too. The main competitor will be those who will be against the business and instead walk. To keep the business going, it will not take a huge amount of employees. There will need to be a few to drive trucks and pick up the scooters to charge them. Also those same employees can be the ones to keep in contact with a third party in order to send back damaged scooters and replace them. The business is centered around an app, so it will be necessary to have a couple people on staff that can keep the app updated and functioning.

Three Minor Elements:

• My most important resource is technological developers because the feasibility of using the app and keep the scooter software up to date will be what keeps us competitive. This will allow us to keep moving forward.
• The next step will be to expand to other campuses. Colleges and universities are in competition themselves, so with one campus having this service, it will be requested on others as well.
• In the future I would like to work hard on the company so when I pass it on to my next family members they can focus on expanding and not reinventing the wheel.

Summary of Feedback

The feedback that I received from my business idea was mostly positive and it could be profitable since it has proven to be good investments in bigger cities. The only thing I was recommended on was to look at the prices carefully.

Changes From Feedback                                            

From the feedback, I thought about what would be a good price in order to be inexpensive, but still a price that will cause a profit. So, I changed the price after the initial start up fee from $.29 cent per minute to $.10 per minute.