Idea Napkin

1)    Hello, my name is Conner Brannon and I am young entrepreneur who is determined to work hard in order to achieve my goals. I feel like I have great personality and get along with just about everybody I meet. My aspirations are to create a business model to find geographical areas that are in need of more parking spaces. I feel that this opportunity is great idea and there is a lot of potential.

2)    The service I am offering will help parking in areas that are overfilled with cars. In the areas surrounding the University of Florida you can find multiple apartment complex’s however, there is not enough parking for the number of tenants. I am offering a parking lot that has reserved parking so that those who cannot park at their complex have a safe and consistent parking spot.

3)    I am offering parking spots to anyone who will need it. However most of the customers will be students that live in an apartment with more than one person and more than one car. I am looking for those who are left out of a parking spot at their apartment complex.

4)    Price is going to be tricky because everyone is different on their willingness to pay for this service. However, people are attached to their cars and they want to make sure that their vehicle is safe. Parking on the street puts your car at risk for a break in, furthermore you can never depend on street parking. Therefore, at a strategic price that multiple people will pay a monthly fee to have their cars parked in a lot will make this opportunity successful.

5)    What sets this apart is that it has yet to be done. Although the market may not be very large there will still be a group of over 100 students that would be willing to pay for this service. There is nothing special about this opportunity and the risks aren’t that high either. The bulk of this project is just buying land in a location that near multiple apartment complexes. If the idea isn’t working then just sell off the land (In this area it seems that new apartment complexes are popping up each semester, so I’m sure you could find a buyer).  

Overall I feel that all of these points come together and could have the potential to be very profitable. However, there is always a chance of things going south and not turning out the way that you planned. I see this opportunity as going into real estate and the business will have minimal costs. Overall making a parking lot can be very cheap, highest cost will obviously be the land and overall investing in real estate is relatively safe.