Overall, I intend to stay with my business for several decades and then retire for quite a few reasons. My idea consists of installing bike docking stations all across campus in which bikes can be rented and returned at any docking location. Because of the nature of this project, it would take a couple of years alone to get this project implemented and expanded to stretch across all campus. In addition, It would take a few years after this system was initiated before it became in full use. Because many students already own bikes or have their rigid routines to get around on campus, my product would have to target incoming freshman and focus on developing them as my consumer base, so, it would take a few years before I can also include my new market. With this system, it is going to be expensive to implement, so it will need to be constantly maintained to remain in good working condition. This idea has made me seek to expand my maintenance team and using direct customer reports to make the necessary repairs. In addition, it has made me focus on bikes that can remain durable with a high mileage count and withstand the extreme Floridian weather. In general, this idea stems from my own experiences on campus when I need to get home after the buses have stopped running and am forced to walk home.
Hello Justin,
ReplyDeleteI enjoyed reading your post. I found your idea very interesting, and I see some validity to your post. I really like your idea, and I have seen it in use throughout the world in Barclaybikes in London, as well as in Mexico city. I didn't see a clear vision to your exit strategy, though. Did you plan on keeping the firm as a family business, or to sell it off in a few years? Great job overall with your post.
I linked my post below:http://entrepreneurship3003blog.blogspot.com/2016/04/week-13-my-exit-strategy.html