Idea Napkin #2

I am a senior in the construction management program at UF. I’ve worked in the residential construction field for the past three summers as well as commercial for a year. Through this I have gained extensive knowledge about the homebuilding and real estate process both on the construction side and the financial side. I have experience with estimating, budgeting, and managing subcontractors to get custom residential homes built and planned for construction. In addition to this I have worked in the construction industry for the past five summers, teaching me how to build many things myself. I aspire to one start my own construction company or a development company. I want to start working for a company to learn the ropes and gain knowledge in the industry and then eventually start my own business or enter into business with someone else. I see this business playing a huge role in my life, using it as something to gain capital and assets to turn into future investments.

What I am offering to customer is a product, in the form of physical real estate and places of residence, as well as the service of a real estate company. By building, developing and selling housing/real estate this will provide for the influx of population moving to developing areas or relocating within the state.

My target audience is individuals or young families that are looking to relocate to developing areas in cities. By building apartment and multi-family housing in developing areas this will attract people that are moving into these areas due to the location of this housing. The people that I am targeting will be younger people that still like to out and do things on Fridays and the weekends. Additionally, they will probably be a young family with younger kids. They will most likely be moving within the state, possibly relocating for work or wanting to move to an area where there is a lot to do.

Customers would care because since my company would be acting as the developer, builder and the real estate agency, we would be able to sell at much lower prices than other developments without sacrificing quality or location. By doing so, customers would be provided housing in a desirable location without having to spend additional money to live in such location.

What sets me apart from everyone else is that I have the experience as well as the formal education to make a company like this successful. Given my work experience in the construction industry as well as the real estate market I believe this would provide me with some of the tools that would be required to start up this business. BY operating in a geographically desirable area there would be a large customer base willing to move into the area.

I believe these elements fit well together for my business idea. I think what elements I combine together create a successful business idea and will have the right target audience to make this idea successful. One point that I incorporated into my second napkin idea was that I described my target customer more specifically, as well as I changed what this typical customer looked like. The second thing I incorporated was I made my business idea clearer. From when I started the first napkin idea to now, I have a clearer vision of what I believe my opportunity is.