I am a junior Business major. I plan to pursue my Masters in Accounting or MBA after I complete my BSBA. I am married, and my husband and I hope to have a baby in the next year. If I were to start this business, I would likely be very uninvolved in it’s development and maintenance, as my time and attention are committed to my education and my family. This would require significant capital, as I would have to hire people to manage all aspects of the business. However since I am pursuing a career in business, I would likely be able to benefit from the service of this product if it were in fact implemented.
I would like to offer private, single occupancy rooms for rent by the hour in airport terminals. These rooms would be a quiet, private, comfortable and secure where people can sleep, do work, talk on the telephone, to make more effective and efficient use of their time spent in airports, particularly during layovers.
I am offering this to travelers in Orlando International Airport. This product can be used by people who arrive very early for their flights due to airline and federal requirements. This can also be used to people who have long layovers, or are experiencing flight delays, although only if their circumstance is somehow unique in the delay. If all travelers from a flight need accommodation, our facility likely would not be able to meet that need. This traveler is likely not responsible for anyone else such as small children or the elderly, as the rooms will be too small to accommodate more than one person. This person will most likely be used by travelers who are on their own, as when people travel with others, they seem to enjoy spending time with their companions. However, there are some times when people traveling with others might need privacy from their companions, so they could benefit from our product. Such as if a member of a family has work to get done on a vacation, it could be an opportunity to get some out of the way to enjoy more time with the family on vacation. People traveling for business can certainly take advantage of this, whether they are alone or with others, as they are less likely to value quality time with their traveling companions. This product is for adults, is not suitable for children without adult supervision.
These travelers will find value in my product, as they are losing time at their destinations due to the time inefficiently spent in airports as a result of the uncomfortable, noisy, and public conditions.
In my experience, I have found that I am more disciplined, focused and organized than other people. I hold myself to very high standards, and I tend to look at things from angles others do not see. I place strong value in honesty and dependability that has set me apart from my peers.
I believe these elements fit together, in that travelers in Orlando International Airport could certainly find value in this product, and benefit from using it. The only element that does not fit with this concept is me, as my priorities and commitments do not lie in making this product a reality.
I added how I would use the product, that is a role the business would play in my life I didn’t address in the first version of this post. I added that the rooms would be single occupancy, as this wasn’t clear before and I have gotten a lot of feedback about making sure they don’t turn into sex rooms... not that there’s anything wrong with that. I specified that the most practical time to use this product would be for layovers, as there has been a lot of feedback putting me off the idea of flight delays, as these usually involve a lot of people, and the airline usually sees to their needs. I added the point that travelers who need to do work for school or business while on family vacation could use this to get some of those tasks out of the way to free up more time with the family on vacation, as this is something I really wish I had a few weeks ago when I was working on school full time on my family vacation.
Good job reviewing your feedback and making the necessary changes. I made some similar corrections to mine as well because I was too vague in my first idea napkin attempt and it lead to some confusion. Sometimes the specifics seem so obvious to us (because it is our idea) that we don't explain enough to someone who isn't familiar with our ideas. Nice post.
ReplyDeleteIt seemed like most people clarified the specifics of the actual product and not necessarily the business plan. I still think this is a good idea and people would be receptive to this idea. I also think that if the people in Orlando were receptive to this concept then if would be good to expand it to other airports.
ReplyDeleteI think you did a very good and honest as well as practical job in knowing your limits and participation for your business. Just by addressing that you would have to have human capital to run the business as you would not be there for the maintenance portions shows you have realistic approaches into this. I think you did a great job! One small thing I’d add to improve this would be how exactly the rooms would function in relation to the airport, such as who would be sponsoring the rooms, whether specific airlines, or the airport itself.
ReplyDeleteThe information about it being single occupancy and primarily used for layovers is something I already knew based on a previous assignment of yours. I'm not sure if it was from the first idea napkin or not, but I guess if others were telling you it wasn't clear enough then I guess it couldn't hurt to reiterate it. I like the practicality of this idea, seeing how you experienced the need for this yourself recently. Good job.
ReplyDeleteI remember seeing a documentary about the many different innovations and inventions in China, both cutting edge and outright useless. One of them struck me as very similar to your idea and from what I have seen, hasn't yet been majorly established in the U.S. The idea was micro hotels that you can rent by the night or day to either catch up on sleep or kill a few hours while waiting for a flight or train ride. These micro hotels where significantly less costly for the consumer than using a hotel or motel because they're built to accommodate one person. The culture is different in China with the significant size of the workforce working over 80 hours a week, but I think that in some metropolitan areas this could be a great benefit to the working class.
ReplyDeleteGood job adding a lot of detail on this post. I feel that your idea for a business concept is very fleshed out, and that you've put a lot of thought into it. I think I've mentioned it before in previous posts, but I think that your concept could really thrive in the real world. It feels like a legitimate concept with a lot of evidence to support it, and I'm glad that you came up with it.
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