The group of customers with an unmet need I am serving are Anna Maria Island visitors in Bradenton, Florida. These customers include locals living on the mainland, locals living on the island, and those who are just visiting the island. Currently the island has no large parking structure that can accommodate all the cars and traffic that inhabit the island. Often times cars cause the single lane road to get backed up so far that the line cane start miles inland.
- Geographically the market consist of Anna Maria Island, Perico Island, and Bradenton, Florida. Demographically the market consist of all local residents in the area (typically middle class families and retired elders).
- Currently island visitors, that do not have a residence to park at on the island, use the very limited public beach parking lot. While this lot is located in a good area it is not anywhere near large enough to solve the greater issue at hand.
- The opportunity is large considering I can help three different target markets.
- The window of opportunity will be open as long as the population on and around the area stays where it's at now. The Amount of tourism also has an effect on the window.
Innovation
My product and service is to build a parking garage on mainland right before you cross the bridge to Perico Island, the island in between Anna Maria and mainland, allowing island visitors to park. Then a trolley service shuttles them from the parking garage to the island. This reduces the volume of traffic on the road out to Anna Maria. The garage would house a restaurant and convenience store which are some of the revenue drivers. The parking meter toll and trolley fee also are revenue drivers. The toll would only cost fifty cents an hour and can be paid for using an app on a smart phone. The trolley pass could be purchased as a year subscription or as an individual one time pass. The restaurant and convenience store would be owned by another business. They would just need to pay a monthly rent to use the space in the building.
Venture Concept
- Customers want to use this product and service to avoid the hassle of finding a parking spot on the island whether it's for the beach, dinning, or any other reason. Once the customer realizes the line of traffic is already backed onto mainland they will be more willing to park at the garage and take the trolley to Anna Maria.
- Currently the only 'competitor' is the public parking lot on the island. Their major weakness is the lack of size. The lot is constantly full with people often times parking illegally in and around the lot.
- The location must be convenient to get to in order not to deter anyone from parking at the garage. If customers have to go out of their way to get into the lot where the structure is built it will hurt the business. Customers also must have a good experience using the garage. Showers will be provided to allow beach goers to clean up before getting in their cars. Also the restaurant provides a dinning experience to those who wish to have a meal before or after their visit to the island.
- In order to start my venture I would need to purchase land requiring me to have a real estate agent. Next I would have to pay a construction company to build the garage. Finally I could rent out space to a restaurant business and a convenience store.
The ability for my venture to adapt and serve multiple markets is an important resource. The garage could potentially serve as parking for large scale events in town. Owning land that can provide a service to a large amount of people has many benefits. Also in the case of a state of emergency my business can provide support for those that need to evacuate the island and head for a safer shelter.
Next I want my venture to become a destination of some sort. Eventually I want my customers to use the trolley to head out to the island but then come back and spend more money at the business around my garage.
In five years I'd like to have purchased land to build the garage on and have a plan set for constructing the garage. Perhaps in the next decade I can have similar ventures all along the coast of Florida helping all the customers with this problem. This venture allowed me to open up to the idea of solving not just my own problems, but everyone else's.
I did not receive any negative feed back from the first time posting this, however one person mentioned they liked my trolley system idea. So I will elaborate more on that here.
- goes to and from the island
- various stops on the island
- can also transport bikes, kayaks, paddle boards, etc.
- year pass, one time use pass
- pet friendly
I want the trolley ride to add to the "island experience". By having these features I believe I am doing just that.
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