29 Venture Concept NO.2

Opportunity:

-       Who has the need: students over the age of 18, people within the 18-40 age range, people who enjoy going out and overall nightlife.

-       Potential customers: people who like going to clubs and concerts, club owners, managers of venues, party and event planners

-       Nature of the need: to avoid losing essential items, getting items stolen, not enjoying time out because of extra baggage and constantly having to hold something or look over it.

What are the forces or changes in the environment creating this opportunity?

-       People are constantly either losing their phones or keys or even worse getting things like a wallet stolen. These circumstances are never fun and are prone to causing a lot of stress for consumers as well as setting a bad reputation for the place in question.

How is the market defined geographically and demographically?

-       Ideally, a lot of places to where my product would fit involves clubs and venues that host events or concerts. These can be found from anywhere to big, urban cities to small college towns like Gainesville for example.

How are the customers currently satisfying this need?

-       They are either taking everything with them and shoving things in their pockets or holding in hand. Or they may not take anything with them at all; which looks good on the surface but during a night out can be a real inconvenience when trying to call or buy something and you just happen to not have your wallet with you.

How Big is this opportunity ?

-       Pretty big

How long will the window of opportunity be open?

-       Until something innovative combines a cellphone, keys, and wallet all in one.

What are the reasons to think customers would switch to this new product?

So they do not risk losing something of value or necessity. For example losing a phone or getting a wallet stolen will come out much more expenisve than just paying the small price to use my product.