The University of Florida has a student population of over 50,000 students. During the football season, over 80,000 people attend UF to view the spectacle. During these periods, campus parking lots fill up dramatically, and many are forced to parking in off campus parking lots. These parking spots often sell for upwards of $30, and are located at places such as fraternity houses and student apartments. There is certainly a large population who is in need of parking on these game days, as many of these off campus parking locations typically fill up before the game even begins.
However, there is a large amount of parking space that goes unused, due to the fact that people cannot find the spots. This may be because the spots are too far from the main campus. I propose an application which will allow people to advertise their parking, through the use of a phone app or website. The app would provide a map of the campus, and highlight available parking spots for users to reserve. The users would be able to see how to get to their parking spots through the use of their phone's GPS abilities.
There are two main customers of this app, those who are trying to sell parking, and those are are attempting to find parking during busy UF gamedays. This means that there are two groups of people who would want to use my service, thus increasing the amount of traffic my app will generate.
The app would make profit by taking cuts of the revenue people make when selling their parking spots, and would also generate revenue from ads on the service. The main issue with the app currently is the time frame during which it will make money. Football games only occur during certain months of the year, and only a portion of those games are at home. This means that there will be parts of the year where the app is going unused, unless I can find another purpose for the application.
Some of the other possible avenues I have brainstormed would be utilizing this service to sell full time parking, parking for events / festivals, and for other sports related events on campus.
Overall, this is a service which will greatly benefit the logistics of UF parking gamedays, helping both those who are selling parking spots and those who are in need of spots. I believe that I will be able to generate a good profit from this application, and that it will succeed at the University of Florida campus, and could be expanded relatively easily to other campuses around the nation.
However, there is a large amount of parking space that goes unused, due to the fact that people cannot find the spots. This may be because the spots are too far from the main campus. I propose an application which will allow people to advertise their parking, through the use of a phone app or website. The app would provide a map of the campus, and highlight available parking spots for users to reserve. The users would be able to see how to get to their parking spots through the use of their phone's GPS abilities.
There are two main customers of this app, those who are trying to sell parking, and those are are attempting to find parking during busy UF gamedays. This means that there are two groups of people who would want to use my service, thus increasing the amount of traffic my app will generate.
The app would make profit by taking cuts of the revenue people make when selling their parking spots, and would also generate revenue from ads on the service. The main issue with the app currently is the time frame during which it will make money. Football games only occur during certain months of the year, and only a portion of those games are at home. This means that there will be parts of the year where the app is going unused, unless I can find another purpose for the application.
Some of the other possible avenues I have brainstormed would be utilizing this service to sell full time parking, parking for events / festivals, and for other sports related events on campus.
Overall, this is a service which will greatly benefit the logistics of UF parking gamedays, helping both those who are selling parking spots and those who are in need of spots. I believe that I will be able to generate a good profit from this application, and that it will succeed at the University of Florida campus, and could be expanded relatively easily to other campuses around the nation.
Schuyler,
ReplyDeleteI am glad to see and hear more details about how your company will operate. I do think that you have realized a fairly large flaw, that being the fact that UF only plays 6-7 home football games a year. I am glad to see that you at least recognize the possible pitfalls. I would like to, acting in the mind of an investor, hear what percentage you plan on taking from sellers. That’s a factor that I think is a fairly important decider.