1)
Opportunity:
· The
night life in Gainesville is something that very many students participate in
practically every night, even more on the weekends. Better preparing students
with information about the night life is the opportunity I am focusing on.
·
Students at
UF who go out and even potentially students who live by UF and go to Santa Fe
are the type of people who would be potential customers.
·
This
opportunity is created because there are many different places people can go
out to at night and they all have different aspects about them that cause
people to go there.
·
This market,
as I stated above, would be college student. Diving a little deeper, it would
be marketed more towards freshman who do not know much about the night life but
do want to go out and have fun. They would have to live in Gainesville as well,
and most likely be a UF student.
·
This
opportunity is pretty big, with there being nothing out there now that provides
any kind of information about nigh life to students.
·
This window
of opportunity will be open until someone does something with the opportunity.
Night life at UF is always going to be someone a lot of students participate in
and I don’t see that slowing down anytime soon.
Innovation:
·
My innovation
is an app for the night life of Gainesville. This app would provide users with
information about the different bars and clubs around UF. Specifically, the
information would be about the different events places are having, line size,
drink/food specials, etc. It would be an app that helps people make a smart
choice of where to go out, because some places have restrictions about age or
they may just be packed that night, and some people don’t like waiting an hour
to get into a place. I have not exactly figured out how I would get all of this
information, specifically how I would keep the line sizes updates or roughly
updated so students know best times to go. I think I would be able to get all
the other information by visiting the bars and clubs and seeking out the
information from them. When it comes to the cost of the app, initially I would
want the app to be free, or at least start as a free trial to get people
excited and wanting to use the app. After that I think I would want to charge a
monthly or bi-monthly fee, I am thinking either $0.50 or $1, so it would only
actually be a couple of dollars a year.
Venture Concept:
·
As stated,
the opportunity deals with the night life of Gainesville, specifically suppling
students with relevant information about the clubs and bars in the area.
Customers will eventually want to pay for this app because of the benefits it
will give them. Not only will it provide them relevant information about the
different clubs and bars but hopefully in the future also give them deals only
to be used by app users.
·
Customers
would not be switching to this app because no app like this exist in the
Gainesville area. So I would mainly have to focus on actually getting the
people to download the app.
·
While there
are other apps like this out there, none are for the Gainesville area, so
technically there is not competition. Though there are potential weaknesses and
vulnerabilities which could come from a lack of interest by students, or they
might not want to pay for the service, and actually may not find the
information as helpful as intended.
·
Since it is
an app I would not have to deal with packaging or distribution. Customer
support and customer experience is something I would have to work on as I went,
figuring out all the kinks of the app and ways I can increase the benefits and
experience for customers overall.
·
To grow the
business I would first want to find someone who has experience with creating
apps, so I can make sure all the relevant information is on the app and easily
accessible. When I first start it, I probably would not have too many
employees, maybe a couple of ambassadors from different sororities and
fraternities to get the word out to others. So total when starting out I would
say a total of 5 employees, someone to help with the app and the other to help
with marketing the app to others.
Three minor
elements:
·
My most important resource would be my connection to people in
fraternities and sororities. These are the type of people I would want to
market most to. Since I have friends in multiple different sororities and
fraternities I could use them as a way to get the message out about the app and
it’s uses. This would make it a lot easier for more students to hear about the
app then me trying to market it to individuals myself.
·
What’s next for this product would be to figure out the logistics
so I can actually create the app. Logistics being again, how I am going to get
the line sizes accurate enough for people to see it as meaningful enough to use
the app.
·
This first venture will help to see what it is actually like to
create an app of my own and all the work that comes with it. Hopefully in five
years this is an app used by majority of students who go out, and I have
partnered with the local bars and clubs to get special deals for the app users.
2)
Summary of
Feedback:
I have received some great feedback about this app throughout the
many different interviews I have completed with people for differing
assignments in this class. The main feedback I received was the focus on the marketing
of the concept. Everyone seemed to like the concept itself and said they would
use the app when it comes out. So the concept itself seems good so focusing on
getting the word out there with my connections in Greek life and in multiple
student organizations. The other feedback I received was just to make sure all
of the aspects I want to include in the app can be included, like being able to
correctly and accurately get the sizes of the lines and best times to go. I did
not really get any feedback about what I can change in the app, which I think
it good, I can just focus on improving the aspects that will be included in the
app.
3)
Change in
Venture Concept:
While above, I kept everything the same, I did improve on the
venture concept a little. While I did not necessarily change anything, I would
want to add to my venture concept. I would want to put more of a focus on
getting the word out about the app, so that when it is finally created I
already have people eager and ready to use it. With my connections to different
people in different sororities and fraternities, marketing to them would be my
first step. If I can get my friend to tell other in the sororities and
fraternities about the app or even allow me to come and speak about the app it
will allow me to easily reach hundreds of students quickly. This would be much
more efficient than say sitting in Turlington and trying to get people to hear
me out about my app, I know from experience that is mostly a waste of time and
it would not allow me to reach as nearly as many people as I can through
different channels, like using my connections in sororities and fraternities. I
am also very involved in different organizations in the business school so I
can use those as platforms to talk about the app and maybe tape into new
connections of people who are not in sororities or fraternities.
4)
Picture:
