24A – Venture Concept No. 1

Venture Concept

The opportunity here are mainly freshman females. They are from out of state, and their families are wealthy or in the upper middle class. Also included in this demographic are other girls and boys that are from upper middle class or wealthy families. There are two natures of the need, one is the nature of laziness and not wanting to do things themselves, and the second is they cannot do the need themselves. Either they weren’t taught it, or it was done for them their whole lives. The changes that caused this demographic is the stipulation for richer people to leave their home states and “get away” to other prestigious colleges like UF. This market is mainly in the Gainesville area, or any college campus with this demographic. Currently they do things themselves, have friends do it, or use delivery services for like uber, or EZlaundry. Currently they are not loyal and would love to find new companies or products that can do more for them. This opportunity is big with thousands of out of state and or rich students coming to UF. This window will be open as long as someone else is paying their bills.

My innovation is College Concierge. It is an all-encompassing service for college students and other locals to find quick jobs to do or get quick jobs done for them. It works by using the college concierge app or website. Essentially a customer will put in a request either to an individual or to the workers in a total together. Let’s say that someone needs their laundry done. They will submit a request “Laundry, full load of whites, one full load of colors, folded”. This will be sent to every worker in the area and the first one to except it will negotiate a price with the customer and get the job done, or deny the request, Lets say this customer loves the job that an individual college concierge does on their laundry, they can specifically ask only them to do it, without interference from other employees of concierge. The way I and the customers make money is an 80/20 split. When they negotiate or have a set price for a service, they will keep 80% and I will be given 20%. The justification is am giving them an easy forum and way of ordering and contact between worker and customer.

The opportunity I identified is solved because this demographic of people are needy and do not and or cannot do services themselves. Customers will buy it because they are lazy or do not know how to unclog the toilet, do laundry, make dinner, etc. In reality the only difficulty I see is people trusting my employees to maybe come to their house. However, to counteract this everyone must go through background check and some type of interview with me, or as the company expands regional managers and other management types. The only competitors are delivery services, but these cover such a small niche when my company covers many making it smarter to us College Concierge than others. While I don’t have packaging an aesthetic logo, and an easy to navigate and good looking app/website is very important, and customer support will be handled with the management, specific worker, and the customer if there are any issues. As said before the more it expands the more management types will have to be hired on a hourly, or salary basis as they will not have time themselves to go out and do the jobs.

The most important resource I have are my mentors and original people who help build up, and support College concierge and myself. As of right now there is no where this company to go as this product can expand indefinitely and people will always need random, or consistent services done. If College Concierge becomes successful I would love to be a mentor, and investor for other entrepreneurs who need help starting up their businesses.