Venture Concept No. 2

Opportunity-

My opportunity tends to the needs of a variety of people as there potential car buyers.

The need may be out of necessity or rather luxury, but the need is very apparent.

The environment in which this opportunity exists is changing, and developing which could lead to a tremendous potential of growth.

The demographic is clearly all people looking for a car, so obviously the market is massive.
I would say though it is based a lot on the age and financial means of the buyer so there are some boundaries to the potential consumer biases.
All customers are looking for a car to buy and need to consider options and prices.
They may or may not have children which can affect their buying decisions, although there are car buyers of all ages.
The consumer of the opportunity could literally be anyone, as many people have the need for transportation, and saving money.
They realize the unmet need and have searched for the right solution, but have not found one.
I can can see that the need is present, and people are looking for an answer to the problem, making this opportunity huge.
The window of this opportunity may be open for some time, but the market is always changing.

Innovation-

My concept for the ever growing automotive industry is established on the idea of my company making money on the idea of saving car buyers money, because of this the only thing that is required is an experienced workforce.

We would have brokers for car buying, this is because many people do not know the value of different cars and often have a hard time negotiating price.

I intended to accomplish this by creating a website, and enlisting many avid car enthusiasts around the United States to become brokers, although first I would need to create a system for how much the brokers get paid per transaction, via car price and the amount of money saved.

I would also need a database for acceptable car values, and teach each broker how to handle the in person business.

So to make things clear I am selling the broker services, which would allow car buyers to have someone find the car of their choice and negotiate the price for the buyer.

The most vital part of this is the “car broker”, these brokers will aid in the effort to save car buyers money and find the right car based on the buyers need.

This concept is great because it creates a more personalized experience for car buyers. This service would assign a "car broker" to each client and they would assist them in finding the right car and negotiating the price for the buyer.

The service would consist of both online and in person help. The car buyer would pay a fee based on how difficult the car was to find/ price and how much money the broker saved the buyer.

For example the fee would vary base on car, so if an easy to find 1,000 dollar car was purchased through the service in which the buyer saved 200 the buyer would pay 5% of the money saved and 2.5% broker fee for finding the car.

This entices both the buyer and broker through saving and making money.A system would be designed for the "car brokers" and buyers to communicate their ideas to each other and, an effective way of allowing "car brokers" to negotiate prices dealerships and individual sellers.

This system would not be generic, but rather a more personalized experience for car shopping which sole purpose is to find the best car for the best price possible.

Other services currently available only give ca options with somewhat set prices.

A "car broker" can check various sources ask if there are any specifics the buyer wants, and then negotiate prices with dealerships or sellers.

Overall, these services help the car buyer with the difficulties they might otherwise face when trying to buy an automobile.

Venture Concept-

My venture concept is one that mainly focuses on the exact struggles the average car buyer faces, and tries to address them with the introduction of the “car broker.” The opportunity is there because of these struggles, customers will buy this service because of the ease associated with it, and the want to save money on an often very expensive purchase. Customers will switch to this product, because all similar business in the market focus on selling rather than saving money. It should be easy to switch since people often do not have a relationship with any specific way of buying a car, and the way of car buying has always been the same until recently. This implementation of the internet with car buying, allows for my concept to exist. The competitors are far and few, as the service is very unique, I could even suggest that competitors would become allies to increase sales. Customer support is the business itself, so it plays a massive role in the success of the business. Locations would only be an important part of the business if the service was not online as well. There is no physical product so many problems companies face regarding that will not exist. The most valuable part of the business will be the employees, which should be in surplus, and the business would be organized around making their part in the business as efficient as possible.The idea of the car brokers job being to save the car buyer money is the biggest advantage this service has over others.

Suggestions and Changes-

The majority of the feedback I received was very positive, however, I received more critical feedback from my whats next post so I incorporated that into my post. The comments suggested that I take things slow with the business, and try the different markets one at a time. So I implemented this into my venture concept. I changed my idea based on how I want to grow and develop my business.