I have identified an opportunity that hinders people who enjoy studying or hanging-out at coffee shops and libraries. I have encountered this problem when I want to meet up with a friend at a local coffee shop and discover it is busy with no open tables. Most of the coffee shops in Gainesville are small and do not have much seating. I have experienced this issue in the library when I have tried to study with a friend. We had to walk around each floor trying to find two open seats next to each other. The issue of not knowing how busy a place is without finding out for yourself effects anyone who wants to study, do homework or hangout at a coffee shop, study center, library or restaurant and anyone who wants to get coffee. This opportunity is an issue most when exams are happening. More students seek places to study when they have exams. There are certain weeks in the semester where there are more exams such as midterms and finals week. This opportunity does not exist in the summer when most of the UF student population leaves. This opportunity is not very important. If students cannot find someone to study in public, they can just go back to where they live. I think this opportunity will benefit both students, young adults and the business owners. It will help bring in costumers when it isn’t typically busy. Solving this problem will help students not waste time searching for a seat. I will be focusing on students at the UF and Santa Fe and young adults who live in the Gainesville area. The locations I will be partnering with, will be places in Gainesville that the majority of student enjoy visiting.
To solve this problem, I will be creating an application that people can download onto their phones. I will first make the application for apple devices. The application will be free to download. To use the application here is an example. Mary is at Starbucks on 13th street. If she has her notifications and location services turned on, the app will promote Mary to input how busy Starbucks is in that moment. Mary could input how many empty tables there are and how long the line is to get coffee. Using her data and others who are at the same place, the app will display real time information to other people who aren’t at that location but desire to travel there. They are then able to know if its worth packing up all their books and laptop and driving there. I will discuss with the business owners promotions to offer to app users to incentivize inputting data. I will make money by selling advertisements to local coffee shops and study places.
My application will be easy for students to download. I will advertise my app by handing out flyers on campus. I will post flyers in the locations my app will display information about. I can table about my app in Turlington. I currently do not have any competitors. The only thing that will hinder my app is people not downloading it. I could incentivize sending it to friends. I would need a hand full of employees to start my business. I would need help creating the application as I have no experience with that. I would need a few people to help me promote my app once it is created. Another challenge I will face is getting local business owners and corporations like Starbucks to partner with me. I will need to find or create incentives for them to partner with me. I also just need to do research and find out if similar concepts have helped places in the past.
My secret sauce is my connection to the business owners of local coffee shops and my ability to identify this opportunity. My next opportunity is to keep updating the app and adding things to it. I don’t see this becoming a big part of my life. I think it would be a good experience to have but I don’t not see it still being a part of my life in five years.
One person gave me feedback about about cooperation with other business owners. I do think this could be a challenge I will face when starting up my business. Hopefully if a few places are willing to work with me, others will see the opportunity I am offering.
When fixing my new venture concept, I now included how I will need to find a way to convince business owners to partner with me.
One person gave me feedback about about cooperation with other business owners. I do think this could be a challenge I will face when starting up my business. Hopefully if a few places are willing to work with me, others will see the opportunity I am offering.
When fixing my new venture concept, I now included how I will need to find a way to convince business owners to partner with me.
Hey Megan, I really enjoyed reading your venture concept #2 and seeing what you had changed from the first one. Cooperation and communication amongst other business is always tricky because they are each looking out for each other's own interests. Like you said hopefully they recognize that the opportunity to work with you but they same not like change so they may not go with you into your venture. Overall, I think you did a great job and this is still my favorite idea.
ReplyDeleteI’m glad you included how you will effectively get business partners on board with you. I think that’s a detail that many glance over but can add much needed longevity to the business. I don’t think it would be hard if you really got your idea up and running, especially if you have those connections. Otherwise I think your venture concept is great!
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