24A – Venture Concept No. 1

Opportunity
Due to the amount of students attending University of Florida the need to increase the amount of student parking is rising greatly. The environment changed and created this opportunity because more people started attending the school.  This market is University of Florida students who live in Gainesville and own a vehicle.  Customers needs are not satisfied, there are not enough parking garages in Gainesville or around campus and parking is usually expensive. I think this opportunity is really big because I think people are always struggling to find parking and this will allow the students needs to be satisfied. I am not sure how long the “window of opportunity” will be open I guess it will be open until someone else steps up and builds a parking garage that has student discount rates.

Innovation

My product is a discount parking garage for University of Florida students. It works by you get a placard and use it to get into the garage.  If you are going away for a month, studying abroad or etc you can sell your parking space so someone else can use it.  I am selling this placard at $300 for the year,  I will start to make income after a while but it will be worth it

Comments

  1. UnknownNovember 19, 2017 at 8:23 AM

    Hi Natalie, I think that the opportunity idea for more parking on campus is there, but the physical space is not available for any large parking garages to actually be built. Also, even if there was space on campus, the school wouldn’t let you build anything that is going to take away from their profits on the parking spaces. The only other option would be paying a large percentage of your profit to the school. When it comes to innovation I think it would be somewhat easy, like adding in better elevators, or adding amenities.

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