Idea Napkin No. 1

1. I am Blake Rubenstein and I am a business major from Miami, Florida. I have a passion for sports whether it is watching or participating. I am good at communicating and work very well with other people. My aspirations include someday opening up a sports-related business or taking on other entrepreneur-type of ventures. If I were to start this business concept, I would see this as a side venture compared to something I have an actual passion for. I would think this business as a short term option as a career choice in my life.

2. The service that I am providing to customers is giving students on Fraternity Row more spots to park in. This will be achieved by building a parking lot near the houses on Fraternity Row so it can be easily accessed by the students who live at these houses.

3. My customers can be categorized as male students who attend the University of Florida. These students are in fraternities and specifically live on Fraternity Row. Their ages can range anywhere from 18 to 22, depending on what student year they are classified as by the University of Florida. These students are also the ones who have either a car or scooter or both.

4. Customers will pay money to use our service because they are currently extremely frustrated and dissatisfied with the parking on Fraternity Row. Parking on Fraternity Row is a hassle, there is a lack of spots and the spots are small for certain vehicles. The service I am providing these fraternity students solves all the problems that they encounter with their current parking situation. There will most likely be extra spaces in the lot and the spaces will be able to fit a wide variety of vehicles that students drive.

5. The lack of parking on the campus at the University of Florida makes it easy for this service to succeed. Students who park on Fraternity Row must have a red decal and pay $80 per semester to obtain a potential spot (a spot that is not even guaranteed). The spots that are going to be provided with the lot that will be built will guarantee students spots and larger spaces than the current ones on Fraternity Row. Students frustrations will turn into content when it comes to my solution.

I think that the combination of all these elements would fit very well together. I believe that my skills correspond well with the types of customers that my service targets. In addition, I think that the service I am providing is extremely relevant to students who live on fraternity row and the timing of a new parking lot could not be better due to all the information I gathered from my interviews. I believe that each aspect of my business concept work hand-in-hand with each other, which will bring much success.

Elevator Pitch No. 1

Testing the Hypothesis, Part 2

After completing my interviews, I was able to further narrow down the who, the what and the why of my opportunity hypothesis. Receiving feedback from people on how large the need of my opportunity is and who actually benefits from it is vital for it to becoming a success.

Who: Out of the five people that I interviewed, the majority of them fell inside of the boundary of my opportunity. Four out of the five people said that they wanted the parking spaces to be larger and also wanted an overall bigger parking lot on Fraternity Row. The person that I interviewed who fell outside of the boundary of my opportunity was the only one without a car or scooter who lives on Fraternity Row. Certain people who live on Fraternity Row that do not get around campus by driving their car or scooter fall outside of the boundary.

What: I realized from my interviews that the need may not be for everyone. Although all my interviews agreed on the idea that the parking on Fraternity Row should be altered in a way that suits individuals with different types of vehicles, many said that if they did not have a car they would take the RTS.

Why: The underlying cause of the outsiders’ need varies from the people who stand inside the boundary due to the fact that they use alternative methods such as driving a car or scooter to or around campus. As I stated previously, the need is different depending on the students who live on Fraternity Row. Some take the bus, bike or use Uber as alternative ways to get around campus which prevents them for caring about the parking situation on Fraternity Row.

                  Inside the Boundary                                         Outside the Boundary

Who ·      People who drive a car or scooter and park on Fraternity Row	Who ·      People who do not use a car or scooter who may or may not go to Fraternity Row
What the Need is ·      Finding spaces to park in in Fraternity Row parking lot ·      Larger parking spots to accustom all types of vehicles	What the Need is Not ·      A new parking lot far from Fraternity Row
Why the Need Exists ·      Student’s complaints about lack of parking ·      Student’s complaints about small space sizes for their car or scooter to fit in	Alternative Explanations ·      People can take the bus to get around campus ·      People can bike