Existing Market
When discussing the things that should be taken into consideration currently, two of the three that I interviewed discussed the development of the land and construction that would be needed before ever truly making any profit. I have been focusing so much on the final product that I hadn't considered the initial investment, necessary work, and time that would be required before ever being successfully functioning. One of the people I interviewed told me that her dad was in construction and that to build anything at all, the land that I intended to use would need to be inspected and then prepared for construction. They all expressed that a lot of students on campus would be waiting for nothing more than an open, functioning parking garage.
Other than the physical construction, one of the individuals that I interviewed expressed that a greater focus on advertisement should be a large priority. I hadn't considered this aspect and was quick to agree that while it wasn't something I had planned on, it certainly was very important. Without advertising, the building would definitely still draw in attention due to its location, however, the use of social media, flyers, and pamphlets sent through mail would all likely increase anticipation of the building while it is in construction.
New Market
The entire time I have worked on this project I have had the intention of it being for students, however when thinking in terms of another market, it can also be beneficial for Gainesville locals and others simply visiting the town. When talking to my boss who grew up in Gainesville, she explained that many visitors in town would be willing to park their cars in the parking garage for several nights. She told me that a great way to modify what I had previously to encourage that group to use the parking garage would be to offer specials on special weekends such as labor day weekend. I found this to be a very helpful idea and have greatly taken it into consideration.
I was very eager to give this new market a shot and truly do believe that it can contribute to the parking house. I found it fascinating to hear from the second individual I interviewed about all of the people that end up visiting town and even the locals that need places to park when visiting mid town. While I believe that this market can be beneficial to my cause, it still doesn't end up nearly as attractive as my existing market. I expect that students will be using the building regularly as opposed to weekends or for occasional visits to mid town.
Rob,
ReplyDeleteThis parking could be huge for events such as football, basketball, and baseball game days. My question is once you build these parking lots would your service be done? Or would you start going to other universities that have this problem and look to fix their parking problems? I think there is great opportunity for you service all over the country. I know in Charleston, SC at the the College of Charleston, parking is a huge problem for students. I don't even think they allow freshman parking because of the shortage they have.
Hey Rob,
ReplyDeleteThat was a great idea given by the person you interview, who would have thought to make more parking spots for visitors or the Gainesville locals. I can see this working for days such as football games and graduation are days when the most amount of individuals come out. I recommend taking a look into it and try shooting your shot and see how it goes.