Assignment 24A - Venture Concept No. 1 (Gym Checker)
Opportunity
The potential customers for the app would be people that go to the gym. They would use the app to check how crowded the gym is. This would benefit them because they would be able to find a time when it isn't too crowded to maximize their efficiency in the gym. This opportunity was created by overcrowded gyms. This app would target mostly college students who use their college gym, but could extend to anyone who uses a popular gym. Customers now just hope the gym isn't crowded when they go or try to find a time when it's not usually crowded, but you're never certain. I think this opportunity has potential. I don't think it will be huge, but there is definitely money to be made. The window of opportunity will be open for a long time. College gyms will most likely always be crowded.
Innovation
The way the app will work is the user will open the app on their phone and it will automatically search gyms near their location. The user will then tap the gym they are planning on going to and it will provide them with how many people are currently in the gym, along with statistics such as is that considered crowded, how that number has changed each hour, which hour is the most/least crowded, and recommend a time to go. The app can also send the user a reminder to go to the gym based off of when the gym gets less crowded. This can be monetized primarily through the use of ads. The app could also use affiliate marketing to recommend health/fitness products to users and receive a percentage of the profits.
Venture Concept
Customers would switch to using this app because it would motivate them to go to the gym more often. Those who are shy would want to go during less crowded times. It wouldn't be hard to get them to switch because it would be free to download. There aren't any direct competitors with this app, other than Google giving an estimate of how busy the place would be. Since this is a free app, there is no packaging, price points, distribution, or location. The customer support/experience would be a part, however. I have handled customer support with my own business before so I have experience with dealing with customers and resolving issues. I could manage this app by myself with no employees, but if this were to explode, I could make different positions such as a marketing team, developer team, and customer support team.
Three Minor Elements
My most important resource will be my prior experience with owning my own business. The next step for my venture would be to draw out how I would want the app to work exactly, such as what it would say, what happens when you tap what, etc. If I were to launch this, I would like to outsource the work assuming it is profitable so that this could be passive income.
The potential customers for the app would be people that go to the gym. They would use the app to check how crowded the gym is. This would benefit them because they would be able to find a time when it isn't too crowded to maximize their efficiency in the gym. This opportunity was created by overcrowded gyms. This app would target mostly college students who use their college gym, but could extend to anyone who uses a popular gym. Customers now just hope the gym isn't crowded when they go or try to find a time when it's not usually crowded, but you're never certain. I think this opportunity has potential. I don't think it will be huge, but there is definitely money to be made. The window of opportunity will be open for a long time. College gyms will most likely always be crowded.
Innovation
The way the app will work is the user will open the app on their phone and it will automatically search gyms near their location. The user will then tap the gym they are planning on going to and it will provide them with how many people are currently in the gym, along with statistics such as is that considered crowded, how that number has changed each hour, which hour is the most/least crowded, and recommend a time to go. The app can also send the user a reminder to go to the gym based off of when the gym gets less crowded. This can be monetized primarily through the use of ads. The app could also use affiliate marketing to recommend health/fitness products to users and receive a percentage of the profits.
Venture Concept
Customers would switch to using this app because it would motivate them to go to the gym more often. Those who are shy would want to go during less crowded times. It wouldn't be hard to get them to switch because it would be free to download. There aren't any direct competitors with this app, other than Google giving an estimate of how busy the place would be. Since this is a free app, there is no packaging, price points, distribution, or location. The customer support/experience would be a part, however. I have handled customer support with my own business before so I have experience with dealing with customers and resolving issues. I could manage this app by myself with no employees, but if this were to explode, I could make different positions such as a marketing team, developer team, and customer support team.
Three Minor Elements
My most important resource will be my prior experience with owning my own business. The next step for my venture would be to draw out how I would want the app to work exactly, such as what it would say, what happens when you tap what, etc. If I were to launch this, I would like to outsource the work assuming it is profitable so that this could be passive income.
Hi Jacob,
ReplyDeleteGreat job on your post. I have told you from the beginning that I think your app would be very useful, especially in younger towns full of millennials. I cannot tell you how many times I have walked into a gym frustrated thinking "I could have just went tonight after I got all of my things done-and actually had a good workout!" I agree with you in terms of motivating Americans to get into the gym at times they think less people are around.
Hey Jacob,
ReplyDeleteI have been a fan of this product the whole time I have been in this class with you. This assignment was really well done, especially the part of venture concept. The first sentence of that part was an idea that never came to my mind that is actually a really good point. You then go on to describe that you don't really have any true competitors in your market which is definitely true.
Hi Jacob,
ReplyDeleteI think that your concept is a great idea and I think it definitely solves a big problem that people face across the country. I also think that it is good that your solution is a simple app. The app shouldn’t take too much time or money to implement. I think it is awesome that the app will help motivate people to go to the gym more often.