Good Morning Business Bloggers!
In todays post I will talk once more about my idea napkin.
But first I will give a short summary on who I am. My name is Andrea Gennaro and I am a second year business student at University of Florida. My ultimate goal is to have a high level position at the corporate offices of Sephora. Some might not know what Sephora is. That is ok. Sephora is a world-wide makeup store. I know that getting a high level position at Sephora will not be easy but I believe that it is something worth pursuing since it is my dream. Graduating from UF will be my first step towards achieving my goal.
Since my last idea napkin I tweaked my business opportunity. Before I was interested in creating something that offered more parking to students. However, after much thought, I couldn't see a possible solution. So I have created a new business idea. My new business idea is called Rent A Scooter. I am always wishing I could borrow a scooter but don't want the hassle of parking it at night or taking care of it. A simple short few hours borrowing a scooter is enough for me and would make my day a lot easier. This business venture would target UF students who are also in the same boat as me. I would charge an hourly fee for each scooter rented. I believe that $8 dollars an hour is an adequate amount. From interviewing students about parking, I do believe that Rent A Scooter is a good solution to parking problems that many students face. I believe Rent A Scooter is a unique opportunity that hasn't been done yet that students would love.
Reflection:
I believe that my business idea works well in all aspects of business ventures. I believe that finding a suitable hourly rate will be hard. I don't know whether students would be willing to pay $8 an hour or $6 dollars an hour. I think interviewing a couple of students would help solve this problem. From the feedback I received in Idea Napkin No.1 I believe I improved and the comments I received. From the feedback five points I received where:
1) how would my business opportunity work in the real world
2) would students want my business
3) how would I attract students
4) more specificity
5) what was the price of my venture
I incorporated my feedback into my new business venture. I believe I dressed all these problem in the above paragraph about Rent A Scooter. I look forward to reading the new comments on this idea napkin.
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ReplyDeleteHi Andrea,
ReplyDeleteI think your new business idea is a wonderful improvement. I think you're right in that it would be difficult to actually implement a way to add parking to UF. This idea sounds much more feasible though it also sounds pretty expensive as you'd have to buy all of the scooters to rent out. I don't think you need to make it cheaper than $8/hr. You have insurance, gas, maintenance of the scooters, and all kinds of liabilities to worry about. You might find that $8/hr might be too cheap to cover all of these expenses.
I do think students would want this service (I'd certainly be interested if I didn't have a car) and I think simple advertising should do it. It's such a good idea it would really market itself after a while. Expenses, I think, are your biggest issue here but the idea itself is solid.
You can take a look at my idea napkin here:
http://jessgervais.blogspot.com/2016/03/idea-napkin-no-2.html
Andrea,
ReplyDeleteFirst, I really like how your post is formatted. Most people just post the questions and answer them, but yours is very creative and easy to read! I also find it very interesting that you changed ideas. This is the first student I've seen do this. It's funny because we actually have the same exact idea and I've seen many other students with this idea as well. I think this means that this service would really do well, especially on a big campus like UF! I was also thinking of charging 6-8 dollars per hour. I definitely think that anything 10 or above is way too much. Parking is a HUGE issue we have here on campus and I think a scooter rental service is a great way to solve this problem!
Here is my post: http://shainaent3003.blogspot.com/2016/03/idea-napkin-no-2.html
Hello Andrea,
ReplyDeleteI think that your idea is one of the better ones that I have seen out of the class! Living in Gainesville I think I see more scooters then cars! I think that students would defiantly use your business! The only concern I have for your business is that you would be renting your scooters to people as young as age 18. The risk might be to high for me to stomach! If you would like to check out my idea feel free! http://dillondunn.blogspot.com/2016/03/idea-napkin-no-2-dillon-dunn.html