The opportunity I have chosen is the transportation of college students. There is a very big need for transportation for college students. This need increases when it is time for them to go home for the holidays. They are my potential customers. The reason that this opportunity exists is because many students do not bring their car up to college. As of now, college students are satisfying their need of transportation by taking buses. However, they are not that loyal to that system. This is a big opportunity, and I believe that the window of opportunity will be open for quite a long time.
My idea is a phone application called Ride. This app would be somewhat similar to Uber. When college students need to go home for the holidays, they would be able to request a ride from another student that is also going to the same city. This app can also be used for away games. The students that are willing to offer the rides will be compensated. It is different than Uber because Uber is only used for short trips. My app would be used for trips that are at least an hour long. Some trips could even be 10 hours long. The payment will be through the app. The drivers will receive compensation for gas plus a fixed fee.
Customers will switch to this new product because it will be easier and cheaper than other options. My competitors would be the buses. However, their weakness is that bus trips can take a long time. This app would also take you closer to your destination. Buses usually take you to an airport or a downtown station. The only employees my venture would consist of are the people giving rides.
My most important resource would be the number of college students that want to make money by giving rides. The thing that is next for my venture would be providing more and more rides for people around the country. In the next decade, I want to be a successful entrepreneur that has created all kinds of innovations that can help people.
I received a lot of helpful feedback on my last post. Many people thought my venture concept was a great idea. They said that many people without cars would appreciate this app. They also gave me some constructive criticism. They told me to explain the pricing and how the drivers will be compensated. I tried to be more specific about that in this post.
Hello Tyler,
ReplyDeleteI know there is certainly a demand for this type of service. Many of my friends in college often needed to take the bus to their hometown during the holidays and very few of them found other forms of transportation. This idea could face a lot of competition from other more known apps such as Uber as it wouldn't be hard to incorporate longer distance travel into their current business model. Best of luck in your future business ventures! You can check out my venture concept in the link below.
http://rogerstrobert.blogspot.com/2016/04/venture-concept-no-2.html
Hey Tyler,
ReplyDeleteGreat job on this assignment. You really listened to feedback and optimized your venture concept. This assignment made me realize that business is a constant updating of plans and procedures. Your idea has a very high demand and I think it is necessary in our market today and could be very successful. Thanks and read mine here http://donovanvuf.blogspot.com/2016/04/venture-concept-no2.html
Hey Tyler,
ReplyDeleteI love your transportation service idea. I think I'm really about service based entrepreneurial ventures since my project isn't necessarily a product but rather a company that provides a service as well. The Venture Concept is a way to optimize you organization abilities when it comes to the design specifications and perfecting our idea to be able to create something great! Either way good post and as a fellow blogger and entrepreneur, here is my venture concept if you'd like to check it out! http://entreprevision.blogspot.com/2016/04/venture-concept-no-2.html