25A-What's Next?

Existing Market:
The next part of my product will be utilizing the quality materials I need in order to begin building these access ramps. I can look ahead and see myself going from using wood as my primary material to eventually using metal. The metal ramps are not a necessity at this time but in the future it will be nice to give the customer a option. I would also like customize my ramps in design. So many ramps look exactly the same. They serve a purpose but if I'm able to customize my ramps in order to put my mark on them and make have great curb appeal would only benefit myself and the client.

Interviews:
1. Male-(Age 66) What should we be doing that we aren't planning to do?
"You need to focus more on what the customer wants. There are going to be customers that do not want wood as the material for their ramp. What are you going to do in that case?" "I hope you are also going to offer insurance or some type of warranty to the customer. I would not want to purchase anything like that without knowing I am protected."
What are your ideas on what the customer might want next?
"They are going to want other options. You can't be a one trick pony. You need to think about the interior of the home as well. I know plenty of people who have steps in their homes that they have trouble navigating. You need to make life easier for them on the inside and out."

2. Female-(Age 74) What should we be doing that we aren't planning to do?
"You need to be talking to more seniors about a need for this. I know plenty of people like myself who have full time caretakers and do not need a ramp. Are you going to offer other types of products besides just a ramp?"
What are your ideas on what the customer might want next?
"Customers are going to want things that work. You need to make models of these ramps so people can take a look at them before even considering purchasing one. I like to take a look at items and see the quality before I open my checkbook."

3. Male-(Age 78) What should we be doing that we aren't planning to do?
"Making other items! I could careless about a ramp but a good walker is hard to come by. If you want to make your name known with seniors and people looking for mobility options you have to have other items besides just a ramp."
What are your ideas on what the customer might want next?
"As I've mentioned other mobility products are going to be your bread and butter. Ramps are good but only for some people. I still think as you get this thing going people are going to start making personal requests and you have to be able to provide that for them."

I was a little frustrated to hear what some of these people had to say. It didn't seem like that last male I interviewed really understood the concept when I was done telling it to him. He was confused as he mentioned when I first started talking to him that he needed a ramp installed. During the interview though he went into talks about other devices for mobility. I realize though for my market and the way of the future I am going to continue on with my philosophy of doing the highest quality of work. I am not ready to branch out into other mobility products and really don't see myself as making walkers or wheelchairs because that is not the type of business I am in. I want to start with the exterior and as I become more advanced work my way into installing ramps inside of senior's homes.

I need to continue to network and use all of my connections to gain more and more clients. The way that this business is going to be successful is by the jobs done and the referrals I receive. The more people I have out in my market talking about my business the more people are going to want me to come work for them. Word of mouth is key in a industry like this and I can't simply rely on hoping that business will come knocking. I want to be able to speak with more seniors, that would mean going to events that they frequent and displaying my product for them. As advertising increases more business is going to flow in. I look forward to staying strong with my plan and making the necessary adjustments as needed.

New Market:
I have been targeting seniors that for the most part are upper to middle class. These seniors are well aware of their finances but they are not concerned with spending money on this. I decided that I wanted to target seniors that live in a lower class and may not have the funds to afford a access ramp for their home.

I feel like this venture is going to be able to create value for people in the lower class market because they are going to have a "luxury" that would normally not be accessible to them. That is why I want to establish a financing plan. For customers in this type of market I will not be requiring a credit check so it allows them to be able to afford this product and pay it off over time.  I don't want to be the type of business that only helps those who are more fortunate. By opening up the door to financing it allows me to conduct business in areas that normally would not be of interest and help people. Financing can be a little risky but that is why I would have all the necessary paperwork done and make sure that my money will be accounted for.

I interviewed two people from this market. One a male who is 71 and the other is a female who is 76. Both of my interviews almost were identical. They felt that having a access ramp to the entrance of their home would be a dream come true. I couldn't believe how much these people would appreciate a product like mine. They were way more enthusiastic then anyone I had spoken to so far. They both let me know that they had to do a lot of daily activities alone because their children were not around and that this made them nervous. Both have already fallen going down their stairs to get into their car. It was scary for me to think that these people could fall and really injure themselves and be left alone for a long period of time. They both loved the thought of financing to make the ramps affordable. They felt that monthly payments would make owning a access ramp a possibility and that they would be open to this.

I learned the need for access ramps for seniors is large in any market out there. I learned that people in this new market do not have caretakers or children constantly helping them with their daily activities. They are also very concerned about their budget and do not have much money to spend on things that aren't considered necessities. I expected that coming into this market was going to allow me to see a lot of people concerned with the affordability of the ramp. I knew that many of them would want the product but have no way to purchase it.

Even with the financing option I do not find this market to be as attractive. It does concern me even with paperwork that I could be wasting time putting in hard work to make these people a high quality product and then end up never getting paid. Also I got to thinking that if someone finances a ramp and then passes away how would I collect the remaining funds they owe. This type of market is to risky for me. I know it opens up other doors but when first starting out I can not take the chance. As my business becomes larger I may be able to find more ways to help the lower class market and make it where owning a access ramp can become a reality, that is going to take some time though.