Venture Concept No. 1

Opportunity. The large population of college students at the University of Florida without means of transportation would benefit from an easy to use and accessible ride-sharing service. Many students on campus have to rely on timely busses or walk from Point A to Point B. It would be extremely convenient if there was a service that could link people who are going to the same place. The lack of parking on the University of Florida campus largely influences the needs of many. While some students cannot afford a scooter or car, others choose not to purchase or utilize one due to the lack of available parking spaces across the campus. By reducing the number of vehicles in use and encouraging individuals to ride together, more parking spaces and less congestion will be evident on the University of Florida campus. The market for this product is defined as all students physically present on the University of Florida campus, without access to adequate means of transportation. Students without modes of transportation currently rely solely on the RTS bus system or their own two legs. The busses can be late, early, or slow and cause you to miss an important class or meeting. Providing cheap transportation access to students has endless possibilities and potential and would thrive on the University of Florida campus. This window of opportunity will be open as long as there are individuals on campus that rely solely on the out-of-date and overused RTS bus system. Reducing the number of vehicles and pedestrians on the roads will reduce the amount of time it takes you to travel to your destination.

Innovation. The innovative service I plan to offer is called UberScooter. UberScooter links individuals who are commuting from one part of the campus to another with individuals who are interested in doing the same thing but do not have access to personal transportation vehicles. By creating an app that uses real time location data to connect prospective riders with available drivers, UberScooter will drastically cut the amount of time needed to complete a commute. The app will link directly to your card and pank account, so transactions are cashless and easy to complete. Our company will profit from this service by taking a small percentage of each transaction, as well as offering advertising space on our mobile app. The current demographic of college students are extremely tech-savy and an app that will ease their daily commute is surely something that would gather a lot of interest. The app will charge based on mileage, as well as time spent on the vehicle. By simplifying students daily commute in an efficient and economical manner, our service will help to better enhance the University of Florida campus.

Venture Concept. UberScooter is the venture that will solve the opportunity of lack of transportation on the University of Florida campus. By connecting drivers with would-be riders, students will be able to identify which mode of transportation is most convenient and efficient for them. Many students would surely download this app and utilize this service because many of them currently rely solely on the bus system. The RTS busses are notoriously late or full and almost double the length of the average students commute due to their repeated stops. By inviting more students to participate in ride-sharing, with the added incentive of making some extra cash, students are likely to utilize this service both as a consumer and as a distributor. The main competition in play right now would be the local taxi services or Uber itself. Uber charges a minimum of $5 per ride, something our service would not do, so taking an Uber across campus is pretty impractical. By allowing consumers to see who their driver is and placing the two in a small space where conversation is sure to ensue, the customer experience is a major role in marketing our app. We wish to provide customers with not only a solution to their problem, but also an added benefit to the solution. Our business would be organized from a central command headquarters that would tackle any customer complaints, driver difficulties, or technical issues. Our marketing plan is to get our name out there while publicly branding our community as a business by students, for students. We would not need many employees other than the lead officers as our app offers the opportunity of employment to those students traveling around campus.

The three minor elements

1.         Marketability: Our ability to market our service as a business run by students for the benefit of students will increase our presence around campus. The idea that as a community we can help to ease the troubles of our neighbors is something that will create a lot of buzz around our service and inspire people to sign up as drivers. The ease of use concept also is something that will be of prominence during our marking campaign. All college students have a mobile fun that they spend a majority of their day on, so why not add an app that can help them either make money or travel across campus.

2.         What’s Next for Us: The next opportunity our company would like to undertake is expanding our service to other college campuses and communities across the country. By expanding our reach, we will be able to target a larger consumer market as well as increase our potential revenue. Growth and sustainability is extremely important for our company and we want to show that there is no direction but up.

3.         What’s Next for Me: In five years, I would like to be the head of this successful venture, present in multiple markets across the nation, and providing a service that not only helps our consumers, but also enriches their daily lives. As an entrepreneur, I wish to undertake one task at a time until I see it has become successful. I see this service as being a large success in five years, and potentially starting additional businesses or services that enhance the lives of those around us.