19A – Idea Napkin No. 2

1) My name is Michael, I study finance at the University of Florida. Once I graduate I will be doing investment banking, and as far as my aspirations go, I hope to further advance my career. The business concept is more for the benefit of University of Florida students than me.

2) What I'm offering to customers is a new, additional gym space to workout at in Gainesville. The current gym is way too small for the current demand, and is always busy.

3) I am offering this product to University of Florida students. What my customers have in common is that they all have demand for a less crowded and upgraded gym facility.

4) My customers care because they're tired of having to navigate through a zoo of people every time they want to get a simple workout done. When Southwest is a busy as it always is, it makes workouts less effective and less time efficient.

5) College friendly rates, less busy facility

I think these five elements fit together well. I think part of my concept that's on the weaker side is the college friendly rates. I need to further plan how to make these possible.

From the feedback I received, I focused on improving my idea napkin in two main ways by incorporating the ideas into my writing:
- Further clarifying the service being offered
- Further clarifying the service's benefits



Comments

  1. Liv WardNovember 3, 2019 at 8:53 PM

    Hey Michael!
    I’ve also had a little bit of a struggle creating a product with a college-friendly price range. It’s difficult to consider all of the costs that go into creating different aspects of the product, in your case a gym facility, and I can definitely understand that this is what you determined is the weakest side of your opportunity plan. Maybe looking into local companies that can offer cheaper goods could help you minimize the price of your gym membership.

    ReplyDelete

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