ENT3003

1) My venture concept is to open a new gym facility that's accessible to college students in the Gainesville, Florida area. My concept is a great opportunity due to the limited options students have when it comes to selecting a facility. Currently, there's only one main gym, Southwest Recreation Center, and it's always packed due to the number of students trying to use it. This disincentives exercise and makes the whole workout experience unenjoyable as there's always people close to you and you always have to wait an unreasonable amount of time for equipment. If a new facility was created, students would flock to it in an attempt to avoid the crowds that come along with the current facility, and the venture would experience great success. This new venture could take advantage of the current low rate environment by taking on a low cost of debt. 2) I received a lot of good feedback based on my previous venture concept description. Many of my classmates brought to my at...

As far as an exit strategy goes, I plan to stay with my business for several decades and retire. It's possible that the venture could become a family business and be passed down in the distant future. I have selected this particular exit strategy as I believe the gyms subscription based revenue model could provide stable passive income for an indefinite period of time. I think setting up legitimate passive income streams is important while your working and during retirement. My exit strategy has not influenced how I identified the opportunity. The exit strategy was something that came after the original opportunity was identified. However, it might play a role in what my growth intentions are and how I plan to acquire and utilize resources. The underlying business strategy will have to be oriented around achieving the venture's goal of large, stable passive income streams. It's been exciting planning all of this.

For my third reading reflection, I chose to read Makers: The New Industrial Revolution  by Chris Anderson. The book generally talked about how modern entrepreneurs utilize open source design and 3-D printing to bring customized manufacturing to desktop computers. This book enhanced what I've been learning in ENT3003 in many ways. I think one main parallel between whats taught in the course and what's demonstrated in this book is the skill of identifying an unmeet need and capitalizing on it. Based on this book, I would make the class write a brainstorming-style blog post where they explore different ways to offer mass customization to a large group of people, such as the student body of the University of Florida. The biggest 'aha' moment for me when reading this book was when the author described this type of mass manufacturing as the third industrial revolution. This was an aha moment for me as it was interesting to think about this industrial revolution compar...

Earlier this semester, I failed at trying to arrange interviews for this course. While it was easy to reach out to numerous different professionals in the industry that I was interested in, it was difficult to actually schedule anything with them. What I learned from this experience was that most professionals have busy lives that don't revolve around other people's requests. While these individuals try their best to give back to the community and help teach interested individuals, they have to focus on their own careers first. In order to successfully schedule meetings with industry professionals, you have to send out emails far in advance and show qualities of respect and courtesy. Failure might be uncomfortable at first, but it's necessary in order to grow and mature. By failing early on in this course, I was able to quickly identify what I was doing wrong, and improve upon those shortcomings. I would say that now, as a result of this class, I'd be more willing t...

Strength Systems (1) Opportunity There is great demand for larger gym facilities at the University of Florida. Currently, the main gym offered to students at the University of Florida is Southwest Recreation Center. While this building looks large and impressive from the outside, you'll quickly realize upon entering that the space is utilized incredibly inefficiently on the interior. The most popular and most heavily utilized space in the building, the weight room, is just one small area tucked away in the back of the massive complex. Since the room is so small and the number of students who attend this university is so large, individuals are packed like sardines whenever they try to get a workout in. As a student at this school who regularly attends Southwest Recreation Center, I know for a fact that one of the biggest complaints is the lack of supply of gym space. Furthermore, I am proposing that a second gym space gets opened up in Gainesville. Currently, the window of op...

Existing Market The next step involving my venture would be to get the operation up and running, This would entail successfully obtaining a gym space and filling it with all of the amenities highlighted in post 23. I received mixed feedback from the individuals that I interviewed in my market. All three of the customers told me that I shouldn't rush on selecting a location for my facility, and that I should take my time and make sure the selected location is flawless. Based on the feedback I received, I won't rush the process of getting my venture operating. When it comes to selecting the location of the facility, I will take my time and make sure the decision is well-informed. Finding the right location will pay great dividends going forward New Market My venture might see success a different college campus In order to succeed in this new market, my venture might have to differentiate in ways that are different from what I mentioned before. The core competency of h...