Assignment 11A- Idea Napkin No. 1

Assignment 11A-Idea Napkin Number 1

1. I am a sophomore here at the University of Florida. I come from a family of entrepreneurs, most of which own their own companies or have done so at some point in their life. I personally started gaining an interest in high school; I am from New York and I started a little snow removal business using plows and snowblowers with my friends in the winter. Also, during the summer I started making marketing videos for companies to use for their social media, so marketing is something i see as one of my talents. As for my business concept, I aspire to solve the problem that college students having doing laundry. This business if i were to start would be easily marketable across campus coming from someone who lives on campus. It would also give me tremendous experience in entrepreneurship and benefit my future.
2. I am offering a hybrid-like laundry service for everyone at the University of Florida. With the potential to be located on campus, students may chose if they want to come do their own laundry, drop off their laundry or have it picked up for them. Having many options to offer students allows you to target all different types of people with different types of needs. 
3. I am offering it to everyone here at the University of Florida. After interviewing multiple types of people and hearing about all different needs that people here, as well as myself have.  The target market is students at UF, regardless of age. The age of students that I decide to specifically target I believe will show itself as the businesses goes where I will then readjust, but to start I will be targeting everyone. I am using this approach so I do not underestimate the potential and miss out on certain people because i decided to chose an group right away. 
4. Students like myself value something such as a laundry service because it is something that is convenient while also saving them a lot of time on something they all realistically do not want to do. Laundry, especially for college students, is a time consuming errand in which can almost consume your day. 
5. What sets my concept apart is the fact that we put the customers before ourselves, as they are the most important part of the business. There is no other service here at UF that has multiple options with multiple prices ranges, which really sets our company apart from the competition. Giving students the ability to choose what price they are able to pay based on the conveniency is extremely appealing and would make our company much more marketable than the rest. 

I think all the aspects of my business really fit together. Being a student at the school while also being in a fraternity gives me a head start on marketing my idea because I am marketing it to all of my peers and fellow students. After both living here and gaining experience after opening the business, I will become much more accustomed with the ins and outs of the business and my approach to the market. The only aspect I may see being a problem is the competition. I plan on making my company the only one one recognized here at UF by marketing well, but if other companies start gaining a customer base before hand there will have to be some changes.