Venture Concept No.2

Opportunity:

The opportunity in my venture is the fact there are over 50,000 students plus more faculty and staff at the University of Florida and only a select group can find parking on campus, despite if they have a parking decal or not. I want to expand parking on UF's campus so that whoever paid for a parking decal, can actually park with no worries. The potential consumers of this service are faculty, staff and students of the University of Florida. The opportunity is huge because of the magnitude of people on this campus, now with the growing number of commuting students that attend universities. This window of opportunity is now and will be ever-growing, as long as our campus keeps expanding.


Innovation:

This innovation, which is really just an expansion of an idea, will help thousands of UF faculty, staff and student. By creating more parking on campus, whether this is adding on to existing parking places, or building completely new ones, will create more ease for those who need to commute to work or class. This also will solve problems for students who actually live on the campus and need a place to park close to their dorms or campus housing. Our goal for this venture is to keep parking prices relatively the same. We believe that people are willing to pay the money for decals if they will actually find a parking spot. From this payment, we will be able to take a portion out to maintain the new parking garages and facilities.


Venture Concept:

With the addition of the parking available on this campus, peoples worries about moving their cars, buying scooters, or even walking places will be lifted. The competition to this expansion of parking includes the rise of students who now travel around campus via scooter. I believe that there is still enough people who will need to park their cars, whether it be because they live on campus or they do not want to spend the money on a scooter. This expansion will also heighten security at the university. No longer will people have to park far from where they live. If people get home late at night, they do not have to worry about being unsafe walking home in the dark. The problems and worries that the expansion of parking are limitless. This will heighten the attitudes of all who are affected by the parking issue on campus. As for finances, my initial goal here is not to makes as much money as possible. It first and foremost is to correct the problem that is on our campus. Once it is corrected, when I will look into turning a larger profit from what I will be making in the meantime.


I believe that the most important resource I have is the support of so many people. People are aware of the issue and need a solution to fix it. This venture could be around for a long time. With the continuous expansion of our campus, there will always bee a need for more parking. After UF's campus, I would love to expand my services to other places that struggle with the same issues.


Reflecting on my first post, I had a lot of support in the comments that were excited and supportive of my idea because of their personal experiences with parking on UF's campus. One question asked is how I will make money. I addressed this in my updated concept. My first goal is to correct the problem, then I will look into turning a higher profit once things have been corrected. In regards to my whats next post, Many agreed that my expansion was a great idea. I think once finding the right person, the expansion of parking in places other than college campuses is a great investment.