24A Venture Concept

-      Opportunity : The potential customer of this venture business is the people who owns the car. There is no geographic or demographic limits on this markets, if the person owns the car and cell phone with wifi, then everything is fine. At very first, I bind the group of customer nationally, but changed it to local area, Gainesville, Florida.

According to our activities on this class, 5A Identifying Local Opportunities, Gainesville and University of Florida have parking lot or restriction problem.

As parking is one of the essential daily action, I think this has huge opportunity to satisfy people’s needs, and it has potential to maintain its opportunity for a while.

-      Innovation : The main service I would like to provide is finding out the parking space for people. The service would be provided by smart phone application.

The application would cover both IOS and Android, app store and play store. It works similar as Uber or Lyft, smart phone car pool services. Once customer puts direction where customer wants to park their car, it finds out the closest parking lots for user, also shows how many places, including handicap parking spaces.

It would work as real time, and show up the vacant spaces by the graphics. The application would be sold as free on online webstores, every support they can get, feedback or real-time services will also cost as free.

The way of making benefit is by advertisement or recommendation system. It is general to put advertisement on the bottom of application or very start of application. About recommendation system, I’m thinking of linking the application with local restaurants, such as food recommendations or restaurant recommendation.

-      Venture Concept: During the assignment 5A, Identifying Local Opportunities, I was reading articles of happenings in Gainesville or our college, University of Florida. The article that took my attention was about parking lot problems during the gamedays. 

      Actually, I had similar problem on gamedays around Ale House Gainesville restaurant, every parking space. I talked about this problem or situation with my friends and they said it is definitely general issuable problem, so I decided to deal with this as my business.

      I do not think there is the competitors in this business, maybe Uber or Lyft could be the competitors, as they are dealing same shape of sources; smart phone application and car service. 

      I guess they would get some strengths against my business on some parts. If the customer is using an Uber, the person does not have to worry about parking. However, as my business model is free to use, which is the most important thing to customers, I don’t think they can compete on this part. The customer’s experience and support are the most important parts of this business. I am really taking care of this part, and would not hesitate to invest money and efforts on this one. I do not think I need big group of people to settle down this service. I am thinking of three people for coding and application system, and three for service, feedback and management.