Wednesday, March 9, 2016

Idea Napkin No. 2

            I am currently a sophomore at the University of Florida, and living in Gainesville has brought to my attention the scary truth that most students do not wear scooter helmets when scooting. Personally, I do not have too much experience as an entrepreneur, but growing up I have always been surrounded by people with entrepreneurial aspirations. I have taken classes in the past that helped me understand how to approach starting a company and anticipating the obstacles.
            The company I have decided to start, Street Smart, will specialize in personalized scooter helmets that every student will be safe and comfortable wearing. Also, these helmets could also cater to the needs of people who ride bicycles and motorcycles. The helmets that my company will provide will have three basic styles, and then people can more specifically customer color, material, and accessories from the basic starting points. These helmets will provide safety and comfort to every customer who purchases one. My helmets will accommodate the needs of any person who drives a motorcycle, drives a scooter, or rides a bike. Also, Street Smart provides a special lock that allows students to simply lock the helmet onto the handle of scooter. This way, there is no need to lug the helmet to class or around campus. Each helmet comes with this special lock and key. If they are ever lost or misplaced, customers can simply bring the helmet into the store and purchase a new lock, key, or both.
 Specifically, I am targeting the undergraduate college students in Gainesville, as those are the majority of people scooting and biking around campus with no helmets. This target group consists of young adults from the late teens to early twenties. I understand that this concept could grow to other college campuses and cities, but I would prefer to start small and keep it local at first. My product holds great value with customers because helmets can be the difference between life or death in dangerous situations. This is a serious hazard that goes too unnoticed on a daily basis. There should never be a single person on a motorcycle, bicycle, or scooter without a helmet. Helmets are a safety precaution and should be used preemptively to prevent serious injury.
I personally feel that every student should have enough safety awareness to understand the importance of wearing a helmet daily. Personally, I think that having the perspective of a fellow student who owns a scooter gives me a unique understanding of what my consumers would want from their helmets. There are plenty of helmet stores in Gainesville, but no other stores offer helmets that are as comfortable and personalized as the ones that Street Smart would provide.
I genuinely believe that the aspects of my business fit well together, and I think that this could definitely be a great opportunity. There is definitely a large consumer market in such a small area, and I feel that people would take the opportunity to purchase these helmets.

Overall, I really appreciated the feedback that I received. First, I took into account that these helmets should not just be for scooter, but maybe bikes or motorcycles as well. So I broadened the target market to anyone who had a bike, motorcycle, or scooter. Second, I acknowledged that I could possibly broaden the market to other towns and college campuses, but for now I chose to keep the business local. Third, I tried to make a clearer plan of exactly how the helmets will be designed. In order to do this, I explained that there will be three basic designs, and then further customizations to certain aspects can be made. Fourth, I incorporated a lock and key mechanism that will hopefully make securing the helmet more convenient for consumers. Finally, the last adjustment I made was in regards to the safety awareness of wearing helmets, and I purposefully stressed how dangerous not wearing a helmet can really be.

5 comments:

  1. Hello Wallace,

    This was a very great post! I could tell that you really took into consideration your feedback and adjusted your idea napkin very well. It's great that you chose to broaden the idea from just scooter helmets to bikes and more as well a lock system for it! It's a very great idea and I think that making helmets more personalized like this would help increase sales and safety for sure! Overall, great job! You can check my post out at http://bradksingh.blogspot.com/2016/03/idea-napkin-no-2.html

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  2. Hey Wallace, I really liked your post. I think your idea is off to a great start. There is definitely a lack of helmets at UF and that is truly dangerous. Now that you have all the information and target audience sorted, I would suggest maybe taking a look into how much it would cost to make your helmets and how much you would have to charge for them. Feel free to check out my idea napkin for an app called TextSwap here: http://matthewent3003.blogspot.com/2016/03/idea-napkin-no-2.html

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  3. Hi Wallace,
    I really enjoyed reading your "idea napkin #2", your business idea is VERY smart. I don't think students/people our age really understand the importance that a helmet provides. As part of your business I think you should include images that could be upsetting (so just provide a warning) to show what happens when a motorcycle/moped wrecks and the impact it has on the rider(s) and include images of the rider(s) wearing helmets vs. not wearing helmets. I have first hand experience on the importance of helmet safety because my dad totaled his motorcycle however, he was wearing a helmet so he's still here because of that. I think the only challenge you would face would be the pricing of the helmets, I think as long as it's affordable for college students you would be successful.
    If you have a chance, check out my "idea napkin #2" here: http://plantflourishgrow.blogspot.com/2016/03/idea-napkin-2the-cat-connection.html

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  5. Hello Wallace,

    I enjoyed reading your post. I can certainly see that you are passionate about helping UF students make safer riding decisions, and I think that passion will certainly help you with your venture. I noted that you were interested in expanding your idea out from solely catering to scooters. I think you may be able to offer the same, or similar, helmets to scooter riders and bicycle riders, but I wanted to mention that motorcycle helmets--for sportbikes--are a substantially different product. Sport bike helmet manufacturers like Shoei, Arai, HJC, Bell, etc. spend a lot of money in R&D, and have surprisingly very high-tech designs that far surpass the traditional "skull cap" helmet. If you are more interested in keeping your venture local, then it may make more sense to focus on the scooter and bicycle market to avoid investing so much towards breaking into that highly competitive sector.

    I attached a link to my post below. My post was about my idea for an improved undershirt design, so while it wouldn't help save lives like your product would, I hope it could make a lot of people more comfortable.
    http://entrepreneurship3003blog.blogspot.com/2016/03/week-9-idea-napkin-no-2.html

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