Venture Concept 2.0
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.
As of right now there are
a few things we can do for College Concierge we can do. First, we will be
adding reviews and rating to all the concierge workers. Also, there will be an area
with previous jobs and who has done them so you will know who has more experience
as well as easier to find jobs quickly. Many of these changes will come with
the development of the website/ app so that it is a more ergonomic website.
If College Concierge becomes successful, I would love to be a mentor, and
investor for other entrepreneurs who need help starting up their businesses.
Hey Jonny,
ReplyDeleteI feel like this idea appeals to a wide demographic. As you stated in your post, not only would college concierge appeal to the wealthy people attending UF but would also give less fortunate people the opportunity to work and make money. I feel that this innovation brings two worlds together and provides a healthy relationship between two social groups.