19A- Idea Napkin No.2

1.     Hello! My name is Gracie Margolles and I am currently a sophomore here at the University of Florida. I am a political science major with a minor in Russian and a minor in innovation. One valuable attribute that I find within myself is persistence. I will stop at nothing to achieve my goals or whatever it is that I have my mind on. I am very determined and I do not let outside factors get in my way and affect my process. If I were to start this business, it would for sure at first be a side hustle because for now I have school to focus on. I would make sure to network and keep contacts close so that in the future if I do decide to pursue this full-time, then I would have some resources to lean back on.

2.     Essentially I am providing a product to establishments and a service to consumers. The product itself is a unit (the establishment gets to choose how large and how many locker compartments they want within each unit) that acts as a storage unit for consumers out and about in the night life. The establishment, whether it be a club or concert venue can rent each individual locker out to consumers to stpre essential items like phones, keys, wallets, etc… so they do not get lost or stolen. I will solve the need of not having a safe place to keep important and expensive things, such as the ones listed above. Giving the consumer a worry-free as well as a hands-free night out.

3.     Our customers are most likely going to be located in college-towns, big cities, or along strips that are dense with clubs, bars and diskotecas. Our customers ages can vary but most likely they are going to start at around 18 years old and range within the early 30s. Again this is subjective and it really depends on the place/venue and event that is taking place.

4.     Customers will pay to use this because it is better to spell the small fee they would pay to use the product than have to pay for the damages resulting in getting something lost or stolen. In the end, this could actually save them a lot of money, time, stress, and hassle. Not to mention it is reliable and easy to use for the consumer.

5.     I think what sets me apart is the fact that my product is not really like anything else in the night-life scene, there is a particular uniqueness to it. But at the same time the idea itself is very simple and nothing too complicated. I also believe this is an idea that can be taken overseas to countries like Europe for example where there are so many cities and towns with these kinds of venues.

I think my five key elements mold in together quite well. The product is unique but simple, the average and typical customer exists and there are a lot of places to fit this product/service into. Based on past interviews and feedback, the market and need for this product does in fact exist and people would be willing to use it to protect their valuables and enjoy themselves.

One of the main things I learned through feedback is to not be afraid to take risks. To be a great entrepreneur you MUST take risks, and the bigger the risk the better the outcome will be. It is also very important not to hesitate and to not be scared to go the extra mile or ask questions that you may think may seem foolish. These are some basic and cliché things I mentioned, but I think they give the greatest impact when pursuing entrepreneurial goals.