1. I'm a business administration major here at the University of florida. I'm also a member of the Innovation Academy, which has given me many useful skills and knowledge I can take into the business world. Personally, I hope to run my own medical practice sometime in the future. This idea could potentially give me a start into owning my own business and give me the experience I need to be a successful entrepreneur.
2. I'm offering customers an easy way to get headphone at the gym for an affordable price.
3. Currently I'm offering this product to gym goers. The headphones will be in a vending machine so that if for some reason you don't have your headphones with you or you simply don't want to waste your good headphones at the gym, you have an alternative. If you go to the gym and listen to music, your part of the demographic.
4. Countless times, people have been at the gym with the miserable reality of having nothing to listen too, or worse have to listen to the horrific music the gym plays. It's proven that music is an excellent motivator at the gym, without headphone you lack the proper motivation to get a good workout.
5. There isn't any existing market similar to this in America, hopefully I can take advantage of that and doing something no one else has. Best buy has done something similar in airports and it seems to be working well for them.
I think all the factors above plus my customer interviews prove that this is a viable business model. One thing I am concerned about is repeat business. For example, how many times will someone forget their headphones and buy new ones before they always remember headphones. Also, headphones are normally a product you by once and don't buy again until you need new ones. I need to find out if there is a consistent enough use of this vending machine to make it economical.
Hello Zach,
ReplyDeleteI think that you have a really interesting idea with providing headphone through some type of vending machine at the gym. I can definitely think of multiple times when I have forgotten my headphones, and it really affected my workout because I did not have my own music to listen to. This sounds like a really viable business idea, and I’m just curious how pricey you would make your headphone, and if you know what type you would sell. I think that these two factors would really heavily impact how profitable this business idea could become. Overall, I think you did a great job.
Check out my post if you’re interested!
http://wallacestage.blogspot.com/2016/02/idea-napkin-no-1.html
Thank you!
Hey Zach,
ReplyDeleteI just want to say that you did a great job in addressing the possible issues that may arise from this business idea. Repeat business is important, so maybe think about offering other simple items in the vending machines such as reusable water bottles, healthy snacks, or hair ties. I think products like these are always in demand at one point or another. Also, think about the possibility of renting out the headphones so you can reduce your cost of resupplying. Thanks for sharing your idea!
If you have the time, check out my post:
http://entoni3003.blogspot.com/2016/02/idea-napkin-no-1.html
Hi Zack,
ReplyDeleteI'm also an IA gator! I think your idea could be very beneficial in a gym environment! Especially for those who are forgetful! The ease of being able to buy headphones in something as simple as a vending machine would allow people to continue their workouts uninterrupted and let them finish their workouts! Check out my post if you have time: http://kristianasimon.blogspot.com/2016/02/idea-napkin-no-1-week-6.html
I want to know more about your idea! How much would you charge for the headphone? What type would they be? I think it’s a really great idea and there is definitely have a market for it. I think you should focus on high-end gyms, like LA Fitness. I think people at budget gyms wouldn’t spend the extra money unless they were cheap headphones. Check out my post: http://rachelquispe.blogspot.com/2016/02/idea-napkin-no-1.html
ReplyDelete