29-A Venture Concept No. 2

29-A Venture Concept No. 2

Safety Parking Lot Painting

Opportunity: Who has the need, or are the potential customer, are businesses that are losing their customers because they have unsafe parking lots.  The forces of change that comes from this is that their customers are tired of having to park far away from the door because they cannot park in a perpendicular parking lot, or worry about their car getting hit, or door-dinged while they are in the store.  The nature of this need is that my potential customer needs to find a way to lure their customers back to their store to make sales/money.  The customers are now doing nothing, they are just watching their customers leave the area.  This is not a huge opportunity.  The window of opportunity will only be until all the businesses change to the better parking lot situation.

Innovation: My product is not particularly innovative.  Anyone with the proper kind of cement paint and the ability to design a safe layout can do this job.  Because of this I will need to maintain excellent customer service and keep the prices fairly reasonable to prevent someone coming and stealing my customers. I will go to the customers parking lot and do extensive measurements and then go back to the office and create 60-degree angled, 105-inch wide parking spots in a layout that will use the maximum amount of area and have the most amount of parking spots.  I will then go to the parking lot and strip the old parking spot striping off the concrete.  I will then repaint the spots in the new lay-out.  To prevent loss of business, I will do this mid-week, and only do ¼ of the parking lot of a 4-day period.  I will be charging the customer for cost plus 10% if all material items.  I will charge $750 per day for the labor and cost of machinery usage.  I am predicting that they average cost for an average sized parking lot will be about $5000 over 4 days of work and 1.5 days of planning.  

Venture Concept: What are the reasons customers will buy my product is because they realize that they need their customers to return to their stores.  It will be pretty hard to get customers to buy my service.  Most businesses do not feel, or even give the parking lot a second glance so it will be tough to sell them on this idea.  I could not find any competitors that redesigned parking lots, but I found a couple of parking lot painters.  Their weakness is they are not addressing the real issue, the safety issue of the kind of parking spaces that are in the lot. Price points will be important to get a customer on board.  Because most businesses do not care about the parking lot it will take a great deal to sell them, so a good fair price might make a difference between a sale and no sale. I figure I will need 3 employees. When stripping the old parking lot striping, and then repainting the new layout striping, I figure 3 people will be needed to do this in the allotted four-day period. 

My most important resource will be using my ability to sell a chicken an egg.  

I have no plans to stay in this business long enough to create or do any other kind of product.  

Plans for me are to retire and travel the world.  I started this venture to save money to travel the world.  When I get enough money, I will try to sell the business off and begin my trek to travel the world.

What I changed: Feedback for me was that my price may have been too high.  I reevaluated how many employees I would need and went from 4 to 3 which brought the price down to $5000.  Even after looking at new ideas, I realize that I truly do not love this business and all the effort it requires and I am definitely selling it to someone.