Assignment 19A – Idea Napkin No 2.

Assignment 19A – Idea Napkin No 2.

You

My name is Jamie Goldstein and I am 21 years old. I am a senior at the University of Florida and I am majoring in Finance. I am looking to have a career in retail as a merchandise planner in New York. I like to consider myself a leader, as well as, a team player, responsible, dedicated, organized, and passionate. Regarding this business idea, if I were to actually start this business, I think it would play a huge role in my life. I could either have it as a side business, or I could expand it and bring it to other universities around the country.

What Am I Offering to Customers?

I am offering a rental service. Through easy access, I will provide my customers the comfort of always knowing there is a computer charger or phone charger to rent at a library when they are studying or just doing work. Through the use of an app and vending machine, they will be able to rent their chargers at all major UF libraries. I will market the service all around the libraries at UF and around campus. 

Who Are You Offering It To?

I am offering it to all UF students, graduate students, and professors. They can rent their desired charger for $2 per hour. For the most part, they have limited time, are very studious, enjoy studying at libraries, are smart, and enjoy being successful in school. In addition to UF students, graduates, and professors, visitors to UF libraries may also rent chargers for $4/hour.

Why Do They Care?

My customers will care because they have limited time. Most of the time when I am studying, time is of the essence and a simple mistake of forgetting my charger at home can really set back my studying. With a low price, and ease of access, renting a computer charger will only enhance people’s studying and it will not diminish it. The rental service will also act as a comfort as students know there will always be a charger to rent.

What Are Your Core Competencies?

My core competencies are easy access, prime location, exceptional speed, low prices, efficiency, comfortability, and large quantities.

Evaluation

Overall, I think all of the elements of my business fit together well. Our modest price at $2 per hour is very fair, and since the majority of our customers are college students on a budget, they will have no problem paying this price. They would be willing to pay a low price in order to not waste their time. I fit into this picture really well, and I would pay this price for the ease of access of a computer charger when I forget mine at home. 

Feedback Memo

After creating the first idea napkin, I decided to include visitors to the UF libraries to my ideal customers. I expanded this from being just UF students and professors, to include visitors. Although at a little higher price for them, they will still be allowed to have access to the service. I also included a marketing aspect now, this way the campus will find out about my business. Someone commented that he noticed people studying without chargers, so in order for those people to know about my business, I would have to market to them.