Resources
1) The Location is very close to campus.
2) The plot of land intended is much larger than other available land in the area.
3) I am currently a student at the University of Florida.
4) The University of Florida would likely support it.
5) I have been in contact with individuals with experience in this field.
6) I know a lot of individuals that would use parking spaces.
7) There will always be students coming in to use the spaces.
8) I will provide parking spaces for cars as well.
9)I have owned and ridden a scooter for several years on campus.
10) I am very knowledgeable of the area around the lot.
"VRIN" Analysis
1) The location near campus is what will lead students to want to park there. This is rare because there aren't many parking options near campus. There aren't any other available plots of land this close to campus making this location currently inimitable and non-substitutable.
2) This allows me to provide more parking spaces than any possible competitors. Due to a lack of available land in the area, this makes the size of the plot rare. It would be very hard to copy this because of how rare a plot of this size in such a good location is. No other parking options in the area provide the same size.
3) This is valuable because it means I have an insight on the individuals that would be using the parking. This is rare because it isn't often when a student is able to work with his peers on such a business. It is relatively hard to copy because it would take being one of the 35,000 students that attend this school along with having the land.
4) Many students would feel more comfortable using a parking space endorsed by UF. This is uncommon because it isn't often that the university partners with off-campus parking locations. This would only occur if it were in a location that the university found to very helpful to the students such as the one I have found. This leads to it being inimitable and non-substitutable.
5) This allows me to have access to knowledge that could allow me to thrive in this business. This is not very common for an individual of my age because of a typical lack of access to such professionals. This is hard to copy because it takes a lot of reaching out and going out of ones way to gain such a relationship.
6) This would mean more individuals in college inclined to use my parking over others. This is uncommon for most professionals not in a college. This is hard to imitate without being a social, out-going individual in college. Without personal connections, it is hard to form such loyal customers.
7) By being associated with the university, the parking lot will always have customers transitioning in and out of the school. This is rare because many places don't have such a consistent group they can rely on. This is hard to copy because most places don't have as many reasons to bring in so many new customers. Other things may be able to but not well as the steady income going into the school each year.
8) This will add a new group of customers that strictly scooter parking lots can not offer. It is often times rare for off-campus parking lots to offer scooter and car parking. This can be hard to copy without the necessary space. Other parking lots similar to mine to exist.
9) This allows me to understand my customers better. It takes personal experience to understand the industry better and that is often rare. This can be replicated through any individual with a scooter. Proper research can also provide good insight.
10) This allows me to offer information to customers and understand those using the spaces better. This takes experience living and maneuvering through Gainesville, which many individuals do not have. Only having lived here can truly provide the knowledge of the area.
Top Resource
My top resource appears to be the location of the parking lot. This is the top one because it will be the main reason students will chose to park on my lot as opposed to the others that are located further from campus. The location will facilitate getting on campus faster and convince many to choose to park there.
Rob,
ReplyDeleteYou have some great resources in this post. I like the fact that you have owned a scooter for years while attending here so you know that it is a big problem. I like how you have added the car parking spots too because it would be hard to get approved to make a parking lot just for scooters. My question is in your VRIN analysis you say there are other parking lots like this. How do you plan on making yours different or special?
Hey Rob,
ReplyDeleteI like that you are focusing on your location because without it you may not be as successful. Many students who use scooters live close enough that a car is not necessary, but maybe just far enough where a scooter becomes more convenient than walking or taking a bus. This situation that almost all your customers are in makes the location more critical.
Thanks,
Michelle
Rob,
ReplyDeleteI think the location of the lot is definitely a top resource because it is something that cannot be imitated or substituted but I think your contacts with people in this field is also a huge resource. They will be able to provide help and advice in this venture. Also your experience being a student and riding a scooter i think will go a long way with you being able to understand completely the needs of your customers.
Lucas
Hey Rob,
ReplyDeleteHaving past experience is a great strength to have when dealing with the process of creating your venture. Also utilizing that you are a student and have seen a common issue that thousands of others face every day is a great credibility point when aiming to pitch the idea to someone else. Overall your list is good and it nice to see what you think makes your venture have an unfair advantage.
thanks,
Wisnov