Venture Concept No. 2

     

     My company, Gator Garb, specifically targets college students without cars who are looking to make quick and easy money. I only offer cash for items. I hope to sell the business as an avenue for students to provide for their basic needs and/or stop their hemorrhaging student loan debts. The continual barrage of places around town to waste money and collect debt enables me to profit off of these students by aiding them in fending for themselves. The market is more located on University of Florida's campus, but it could go up to a one mile radius around campus at the most. Past that one mile radius are my competitors' territories. Customer's currently ignore their need to purge their closets of extra unused clothing or go to one of my competitors. Most prospective customers note that other companies generally do not have a culture that supports, uplifts, or shows consideration for those who are selling to them. I doubt that these companies foster supplier loyalty in any way. The opportunity, now, is very small, but there is a potentiality for creating an establishment that supports UF culture and students. The window of opportunity is not going anywhere. While UF does provide for specific student clothing needs, it does not provide for all. This company would operate year round to support students at every semester. While selling might be reduced during the summer semesters due to the small amount of foot traffic and students on campus, the company can still via online avenues without being perturbed.

     My service is only slightly innovative; I hope to provide faster service and more reliable customer interactions by doing it all myself. While relying solely on myself can be a disadvantage, I hope that I am able to well utilize the experiences and flexibility that doing this work independently allows.

     Gator Garb's main selling point is accessibility via location. By being on the campus of UF, this company is better equipped to meet immediate needs to sell on campus. While the company is simply buying on campus and selling via online avenues, the step to be available to UF students specifically is my venture's unfair advantage. It puts the company in, at the least, the lineup of buyers in the area by being the most convenient for students who live and study on campus.

     Being on campus provides Gator Garb with the largest innovative gain that it could have. Suppliers will sell because it is easy and convenient, customers will buy because the clothing is fashionable, of good reputation, and can be delivered to them easily. My customers will only choose my items because of the above factors. If I choose good items and sell them at a fair price, I am doing more than my competitors. I believe that should be reason enough for my customers to choose my company. 

     My competitors are Sandy's Consignment Shop, Plato's Closet, and Flashbacks. All three have a decent following, but my company takes advantage of their weaknesses. Plato's Closet has terrible customer service and often short changes their suppliers. They do this by offering them store credit in reasonable amount of their items, which is not helpful to students in this position for the money, or cash in far less amount than the reasonable value of their items. Sandy's Consignment Shop treats suppliers poorly and lacks flexibility to accommodate them. Sandy's is also the furthest away from campus. Flashbacks has a unique style that they buy and sell to maintain; this dampers their ability to appeal to a broad range of customers. It is my Gator Garb's dedication to caring about suppliers and customers, providing cash in fair market value of items, and location on campus that will truly differentiate and spur my business in its future growth.

       To support this venture in its future endeavors, I would want to perhaps engage with the community during events at Bo Diddley Plaza where I could sell to the community and develop a rapport. I would also like to engage more with people doing the same as me and develop a cooperative business. This would enable me to bring on people more skilled than I at selling and buying specific styles and for different genders. I would love for this business to get to the point where I could leave it at University of Florida as I progress in my studies beyond an undergraduate degree. 

     After this venture, I seek to go on to medical school where I will study to become a doctor. I hope to take these skills that I have learned here at UF, pursuing a business degree, in running my private practice and working in the hospital. I also seek to take these entrepreneurial skills and apply them to my dream of starting a non-profit that serves rural Indian populations by providing them affordable medical care in hopes of developing relationships with the people and opening these people up to new employment options via medicine and educational opportunities in general. This first venture would help me be considerate of the customers in front of me, to realize that the success of my company does depend on them, and to be conscious of the fact that they might need me as well, and not to take advantage of them. 

     I have not received much in terms of feedback for my last few assignments. Lucky for me, I can put absolutely nothing here in terms of feedback and also changes to my venture concept.