Assignment 29A – Venture Concept No. 2

Business Name: Saftey4Scooters

Opportunity: When you think about two-wheel street-legal transportation, two things may come to mind, motorcycles and scooters. The main difference between scooter riders and motorcyclists is that people who ride on a motorcycle have been educated on how to ride safely. Now, with more scooters on the roadways and more accidents occurring, the need has increased to educate scooter riders on proper rider and safety knowledge. The potential customers for this product/service mix currently own a scooter or they are looking to buy a scooter in the future. The forces and changes that are creating this opportunity are consumers wanting to be safer on the roadways. Also, sooner or later I believe that the U.S. government will enforce taking a rider and safety knowledge course to ride a scooter as there is with motorcycles. To get a jump on this regulatory change, start by offering courses now and include an incentive. This market is defined by the people in the middle class and more to college students as they are riding scooters more often. The only way customers can satisfy their needs now is by taking courses for a motorcycle or looking up tips on the internet. The customers are not loyal to this method of satisfying their current needs. This opportunity is big as there is no competition in this current market. Also, no courses are being offered for riding safely on scooters. This “window of opportunity” will only be open for a short amount of time before there are more injuries or more of a need for courses.

Innovation: My innovation is scooter rider & safety courses to current or new riders. Then upon completion those people who complete the course are eligible to receive a discount on a scooter at the dealership. This innovation is a product/service mix and solves the need for scooter riders because they lack vital rider and safety knowledge. The way this works is people sign up and pay the fee of $150 to take the 3-day rider & safety course. Those people who complete the course will earn a 15% discount off the price of a new scooter at the dealership, or a 25% discount for a used scooter. The process of getting a discount on a scooter will allow the dealership to make more money. The dealership will offer my courses along with living up to their end of the deal of offering a discount on scooters to those who complete the course. The dealership will endorse my courses, which allows my business to attract more customers because the dealership gives credibility to my courses. Since more people will recognize the dealership, the customers will trust my courses as a good source of information. For example, motorcycle courses are offered at a Harley Davidson dealership, which makes the courses credible. The product/service mix is unique and will incentivize scooter riders to go take the course so they can be safer on the roads with a new scooter too.

Venture Concept: The innovation that I have created will solve the need for scooter riders that lack the knowledge of how to ride safely on the roadways. The solution will solve the need because the 3-day course will educate scooter riders on the fundamentals of riding on the scooter that includes a riding test as well. Customers will use this new product/service because there are no other services out there that target specifically scooter riders, so it will be easy to get customers to try this product/service mix. Second, there are more and more accidents involving scooters happening so to be safe they will take the course. This course will allow concerned parents to know that their child is getting the proper knowledge of riding a scooter. There are no competitors in this market that I am aware of since there are no scooter courses offered in Florida. My packaging, price points, distribution, customer support, and my business location are very important to the customers. The location is in a very dense population of scooter riders that will attract more to take the course. The package of the course and the discount is important because it will motivate more people to learn the proper and safe way to ride. I will organize a “business” to support the ongoing production of your new service by expanding to other large colleges and offering the same mix in that town. My employees will be well educated on the subject to teach riders effectively too.

The Three Minor Elements: My most important resource will be my social capital. As an entrepreneur, it is about “who you know, not what you know.” The network of professionals in this market and investors will assist me as I get my opportunity up and running. I will receive vital knowledge and support during this endeavor, and it will guide me in accomplishing my goal of making the roadways safer. My next opportunity is to expand to more cities in the state of Florida. Finally, in five years I want to be the place in Florida where everyone goes to learn to ride a scooter safely or learn more about scooter defensive driving. In the next decade as an entrepreneur I want to be thinking about more opportunities in which I can explore. This venture helps me achieve my vision one step at a time. The venture can help me gain the experience and learn where I can become a better entrepreneur.

Feedback & Summary of Changes: After reviewing all the feedback received from my first venture concept, I decided to not change anything about my idea. I chose this path because the feedback that I received was positive about my idea. No one has heard of my idea before, so they were intrigued, and they liked my incentive that is linked with my product/service mix. I received only positive feedback in my previous posts, so I think that my post is good to go, and my business has a great chance to succeed in the market. Although I did not receive negative feedback, I chose to change my venture concept because of personal growth. The changes that I made were the wording of things, the grammar of my previous post, and clarifying my opportunity, innovation, and my venture concept so it is easier to understand. So, based on only positive feedback and my personal growth I did make several minor changes to my venture concept. These minor changes did not change the idea of my venture concept but clarified my concept that overall helps the understanding of my business’s path to success.