Idea Napkin No. 2

If I was to flesh out my ideas for my business on a napkin, I believe it would go something like this:

Who am I?

I am a college age girl who often needs to make a quick buck. While I may not be the most talented, I can tell what items of clothing to keep and which to sell based on years of having to wear and repair clothes. I can also tell you the approximate worth of some items because I sell clothes like them and buy clothes like them. I want to use this business to make money while I am at university, but I would love to see this business become part of UF after I graduate.

What can I offer?

I want to offer a clothes buying service to those on campus who wish to utilize it. I want to pay them to take their unwanted and unused items. I also want to provide a way for students to donate clothes that don't meet my company's standards.

Who would realistically want this?

Any college aged student at UF who does not have a car and who is looking to sell clothes.

Why would they care?

I can offer them money on the spot for their items. They do not have to put their items on consignment, I will pay them once I receive and process through their items.

What differentiates my business from my competitors?

I can offer some of the aspects of these big secondhand retailers on campus. Plato's Closet, Sandy's Consignment Shop, and Flashbacks are all at least a mile away from campus. While I only sell and do not allow them to buy from me, I can offer more cash than most of these retailers who often extend more in store credit than cold hard cash.

Realistically, I know I have little to offer my segment of the market. Although my idea napkin makes sense, it is not infallible. I cannot offer the professionalism of my competitors to my market nor can I offer the same inventory size and style. I can only offer more money for students, which is my main differentiation.

I didn't receive any feedback, so I changed what I thought were my most fallible points.