29A – Venture Concept No. 2

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 attention that my concept was too vague in terms of how the plan was going to be executed. Other classmates wondered how this project would be financed, and if there would actually be demand for the new facility from students.

3) Based on this feedback, I wanted to explain in this post how exactly the project would be financed. I also want to emphasize that there will be a demand for the facility, and students will be willing to pay for it due to the conveniences and low membership fees that it offers.

4)

Comments

  1. Michael LombardoDecember 3, 2019 at 11:58 AM

    Hey Michael,
    It was very interesting watching your venture concept grow and expand during the span of this course. I still believe that you have a very valid opportunity that should be pursued as we do have a lack of gym space geared towards students. I also liked how you responded to the criticism from your peers.

    ReplyDelete
  2. Nick DiprimaDecember 4, 2019 at 11:16 AM

    Hey Michael, I think you did a great job with analyzing the issues other people had with your venture concept. I think you did a great job at looking at the financing and explaining where exactly the money would come from. I also like that you began looking at specifics like the membership fee. Overall, I think this idea has a lot of potential for huge success.

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