11A- Idea Napkin No.1

1)     I, Elliot, am an aspiring young entrepreneur. I grew up in a coastal city in South Florida. I have put in hundreds, if not thousands of hours on boats captaining my own boat for fishing expeditions, and captaining other individual’s boats for cruising charters. With the knowledge that I have gained from spending all of this time on and around boats, I aspire to create a company that makes boat owners lives easier by providing them with a cleaning and maintenance service for their vessels. In five years, I hope to see my company have successful contracts with not only marinas in South Florida, but the Gulf Coast of Florida, and eventually coastal cities in other states as well.

2)     My plan is to offer boat owners with a service that comes to them and does basic maintenance and cosmetic restoration for their marine vessels. I am solving the customers unmet need because there are no existing services that offer the same convenience as I am willing to offer, as the boat owner will not have to drive anywhere or call anyone to come tend to their boat.

3)     The demographic that I am offering my service to is middle to upper-class individuals who own boats. According to the National Marine Manufacturers Association, 79% of boat owners fall in the middle-class, so I aim to offer an expensive but reliable boat service to these citizens. Additionally, I will target upper-class citizens who own large marine vessels, as they are likely to spend what is, when compared to the price of their yacht, a small amount of money for a service that cleans and preforms basic maintenance at their convenience.

4)     Costumers will pay money for my service because with proper and detailed maintenance, they are actually saving money in the long run. Broken parts and damages to boats can cost thousands of dollars to repair. By subscribing to my service, the customer’s boats will be less likely to become damaged from negligence and the boat owner will save money.

5)     My company is set apart from our competition because we offer convenience that no other cleaning and maintenance company has. The goal of my company is to make the customers life easier, therefore we will come to the customer. Essentially, it will be like a mobile car wash company except it specializes in marine vessels and not cars.


I believe that all of these elements fit together. 1- I, and my future staff, are and will have previous boating knowledge, thus we can ensure proper and detailed care to our customers. 2- I am offering a service that makes the lives of my customers easier. 3- Through research, I have outlined the specific demographic that I wish to target and market to, thus my business will not fail because it was too broad. 4- My customer will actually save money in the long run by using my service. 5- I offer a unique service that is very appealing to boat owners. It is because of these five points that I believe that my business has the potential to be very successful and no parts are weaker than others. 

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Comments

  1. UnknownOctober 8, 2017 at 11:45 AM

    I thought like this was one of the easier exercises in a while and it seems like you may have too. You did a very good job giving a ton of information on each part of this assignment. One of the few things I noticed is just that you talk about boat owners being middle class in number 3 and say that you will provide an expensive and reliable service and I think you meant to say inexpensive. Other than that, it looks great.

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  2. UnknownOctober 8, 2017 at 4:43 PM

    I think you did a really good job choosing your target market. Having grown up where you did I think you're a prime entrepreneurial candidate to pull something like this off. You gave a lot of information and made this really easy to read. Good job!

    ReplyDelete
  3. UnknownOctober 8, 2017 at 8:23 PM

    You did a great job with this assignment. You included a lot of really good details and I can see that you’re very passionate about this service. I like that since you have so much personal experience with boats and marinas you probably can think of every last detail that needs to be known about a boat service. This personal connection will help to push you to reach your goals too.

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