You: My name is Tarang Kirit Donga. I am a freshman at University of Florida majoring in Computer Science. I like to challenge myself and learn new things. I wish to start a business of my own. If I were to start a business on my business concept, I see it as a forming a foundation to the pathway towards achieving more ambitious goals.
What are you offering to customers?: A car rental service that allows anyone over the age of 18 and with a valid drivers license to use rental cars. It also provides the customers an option to drop the car at a different location rather than returning it at the same location, enabling the customers to use rental cars for one-way trips.
Who are you offering it to?: To anyone who wants to use a rental car. But the special features offered are targeted for customers between age of 18 and 21 as well as people who want to use rental cars for one-way trips.
Why do they care?: There aren’t enough options in the market for rental cars for college students. Most out-of-state and international students as well as a lot of in-state students don’t have their own cars in colleges. Also, most other companies don’t allow customers to return the car at a different location restricting them only to round trips.
What are your core competencies?: It offers two important features that a lot of people want to have to be able to take better advantage of car rental services.
I believe that these 5 elements fit together for my business idea. I also think that improving on these elements could lead to a better solution.
Hi Tarang,
ReplyDeleteI really do like the simplicity of your idea. The service is simple, the reason behind the service is simple, and it's very easy to tell what the market for the service is. Knowing the market for the service is critical for advertising and pitching your idea to investors, which greatly helps the service get off the ground and become a household name. Very well done!