29A Venture Concept #2
Opportunity - Thousands of young professionals commute to and from the city by car each and everyday. When a traffic jam occurs during their commute, this sets them back and holds their day in limbo. Causing them to miss their flights, show up late to their meetings, and overall cause an inconvenience that puts a burden on them for the rest of the day. Not to mention, traffic jams also affect families traveling on vacation, truck drivers, and emergency vehicles. There is no real way to solve this problem other than taking an alternate root or just finding things to do in traffic while the jam clears up.
Innovation - My suggestion and business idea that I believe would help ease the burden of traffic jams is developing a separate roadway that runs parallel to the major highway systems. When a traffic jam happens or roads show overall congestion, the roadway will open to the public. Individuals can access this road way for one time fee of $25.00. From there, they can bypass all the traffic in which will allow them to continue on with their day activities and let them reach their desired destination within a reasonable time.
Venture Concept - Being that this has never been done before in the state of Florida, I would hold a monopoly for the overall market. With that being said, the weaknesses that I would experience in my business would be the chance of people breaking into my roadway without proper payment. I would have to enforce strict security and have guard rails high enough so that most vehicles would not be able to easily access without causing harm to their own vehicle first. The main target demographic I would be shooting for is young professionals and business oriented individuals who need to commute to and from the city in a timely matter. Also, individuals on their way to the local airports.
Each entry will be priced at a set fee of $25.00. People who are caught entering the roadway without payment will be subjected to a $500.00 fine by the state of Florida. The roadway will be cleaned and kept up by an outside 3rd party company. Cars will enter our system by driving through a toll both where a teller will sit and collect all fees. Once the fee has been paid, the gate will open which will grant access to the vehicle. Emergency services and police will be within the local area in the instance that their is a collision on our private roadway. In the situation that there is and a second traffic jam occurs, all of our customers who were currently using our roadway system will be granted a full refund if they mail in their receipt.
Student feedback - Majority of my feedback was centered around how my opportunity would really change so many peoples lives for the better and how many people could relate. I was told that this would be a very hard business concept to pull off due to the state of Florida owning majority of the roadway systems and how closed off they are from creating partnerships with private businesses. Also, how costly it is to build an entire roadway from scratch that would stretch across the state of Florida
Innovation - My suggestion and business idea that I believe would help ease the burden of traffic jams is developing a separate roadway that runs parallel to the major highway systems. When a traffic jam happens or roads show overall congestion, the roadway will open to the public. Individuals can access this road way for one time fee of $25.00. From there, they can bypass all the traffic in which will allow them to continue on with their day activities and let them reach their desired destination within a reasonable time.
Venture Concept - Being that this has never been done before in the state of Florida, I would hold a monopoly for the overall market. With that being said, the weaknesses that I would experience in my business would be the chance of people breaking into my roadway without proper payment. I would have to enforce strict security and have guard rails high enough so that most vehicles would not be able to easily access without causing harm to their own vehicle first. The main target demographic I would be shooting for is young professionals and business oriented individuals who need to commute to and from the city in a timely matter. Also, individuals on their way to the local airports.
Each entry will be priced at a set fee of $25.00. People who are caught entering the roadway without payment will be subjected to a $500.00 fine by the state of Florida. The roadway will be cleaned and kept up by an outside 3rd party company. Cars will enter our system by driving through a toll both where a teller will sit and collect all fees. Once the fee has been paid, the gate will open which will grant access to the vehicle. Emergency services and police will be within the local area in the instance that their is a collision on our private roadway. In the situation that there is and a second traffic jam occurs, all of our customers who were currently using our roadway system will be granted a full refund if they mail in their receipt.
Student feedback - Majority of my feedback was centered around how my opportunity would really change so many peoples lives for the better and how many people could relate. I was told that this would be a very hard business concept to pull off due to the state of Florida owning majority of the roadway systems and how closed off they are from creating partnerships with private businesses. Also, how costly it is to build an entire roadway from scratch that would stretch across the state of Florida
Hi Chris,
ReplyDeleteGreat job really fleshing out your business idea. I like the elaboration on the financial side of your idea in the new price points and the mechanisms of how payment would work.