1. I am a reserved, confident person. Although I a prefer to be introverted and spend most of my time working or studying, I enjoy public speaking and I work well in small groups. I am a quick learner and I am able to multitask several ongoing projects at once. I have experience in maintenance (I am handy with plumbing, electrical, and HVAC), and I have also worked in landscaping and medical billing. As a Sport Management major, I want to work in facility management or sport administration. If I were to actually start a jersey-rental company, it would consume my life. I would have to give 100% of my efforts toward this goal to achieve success.
2. I am offering customers a one-of-a-kind opportunity to have access to every professional sports jersey available, without the risk of purchasing a jersey at full price. Sports fans do not currently have an alternative to paying full price for jerseys.
3. My product is targeting males age 10-30 specifically. Kids love to wear jerseys to school, parties, and sporting events as a way to show off their fandom. Men aged 20-30 and even older wear jerseys to sporting events, and even outside of that. Fantasy Football is mostly to thank for the rise in fandom, especially fandom toward players from teams other than your own city's.
4. Customers would pay for this service because this represents an unlimited amount of jerseys to proudly wear and show off to your friends, without having to pay over $100 per jersey. Part of the risk of buying a jersey is the player being traded or leaving the team through free agency or retirement. With our service, there is no risk of being stuck with an old or unfashionable jersey.
5. This company is unique because there isn't any predecessor to it. We have the opportunity to penetrate an untapped market of people who want jerseys but are unwilling to pay hundreds and hundreds of dollars. We have the advantage of time on our side; we would be first to market and have a leg-up on any future competition.
Reflection: I think these elements fit perfectly together in seizing this opportunity. I would prefer to have some team-members who had a background in business and finance to layout a company timeline and accounting plans.
Greg,
ReplyDeleteYour business idea is well thought out and very unique, especially knowing that you have no predecessor to base your company off of. If you are able to find a solid market of customers with these need, I think your company will do well. Targeting fans in the age range of 10-30 seems like your best bet and I liked that you identified that. If you could detail how you are going to build your collection of jerseys for customers to rent, I think that would be helpful to show to potential investors or partners.
Hey Greg!
ReplyDeleteYayy you’re an extroverted introvert! I am too:)
I can feel your enthusiasm in your business idea, especially now that I know you are majoring in Sport Management. I think your target segment is a good choice, but would you also expand your target to women in the future? Also, later on, if your company earned enough resources, it would also be great if you offered some original designs as well.
Hi Greg,
ReplyDeleteUnderstanding that you are studying sports management does provide a great background to frame your idea within. You obviously have a good grasp of who you are trying to target as well as what it is your business offers individuals. I agree with Logan as I am also curious as to how you plan on purchasing the first set of jerseys to begin the revenue stream. Also would you offer all jerseys or just the most popular picks within areas.