Assignment 19A - Idea Napkin No2

Who I am

I am a second year finance major with an economics minor at the University of Florida. I have a lot a skills when it comes to the market as I've been into trading  stocks, securities and cryptocurrencies since I was 13. I eventually aspire to lead a hedge fund, in Wall Street preferably. If not, I wouldn't mind owning a small time business and living comfortably. At the end of the day, I would just like to be my own boss. Regarding this business concept, I only see it playing a role in my life to the extent in that it will be my primary source of income.

What I am offering to customers

The problem I am trying to address is the very limited parking that is available in Gainesville. In order to tackle this issue, I am offering to buy out single-leveled parking lots in active areas throughout the city, then proceed to build them upwards into multi-leveled garaged. Afterwards, I would set up a subscription system in which people have access to all the parking garages all around the city for a low monthly price compared to other decals. My garages would be technically innovative and would track the amount of spots at any given time during the day. All of these garages would be linked and shown on an app to offer customers parking at any given moment. This would solve the parking problem in Gainesville and allow residents to quickly find convenient parking.


Who am I offering it to

My business concept is tailored towards people who live in Gainesville, own a car, and yet have trouble finding parking. Naturally, the concept is geared mainly to college students since campus is the tightest area when it comes to parking yet there other people might still find it handy in certain busy areas.

Why do they care?

My target group would most definitely care about my service since there are always gonna be times when they have trouble finding parking and sometimes, the only thing that will be available would be my garage so they would inevitably be drawn towards it. This would especially be the case during football game day where a lot of people visit from out of town, if that's still a thing in the upcoming year.

My core competencies 

What sets my business idea apart from anything else like is it is that my business would implement the most advanced and technologically efficient way to find parking at a moments notice. What makes it most unique is an app that will be linked to my parking system which displays all current available spots in nearby garages, in order to provide customers with the best experience and to help them find a spot as soon as possible.

Compatibility of elements 

In all honesty, I feel like all the components of my idea fit really well together. My concept tackles the parking opportunity in the best way by offering more affordable and convenient parking in the busiest parts of the city. It's also so very different from all other parking systems around it which makes me think it might be a game changes. The technological aspect, financial aspect, and logical aspect all add up fairly well and I feel like the idea would fare well in the city of Gainesville.

Feedback memo

Unfortunately, I did not receive any feedback on my first idea napkin so I didn't really have anything in mind to improve. I feel like one main critique I would've gotten is to bem ore expansive about my idea and how it will actually provide the means to better parking and I have made sure to be more specific about that in this post.