29A-Venture Concept No. 2

1. Business Name: Ramps for Champs

When talking about the opportunity with access ramps for senior citizens some things need to be pointed out. The potential customer (Age 65+) is a senior citizen who has decided to not go to a nursing home and age in place at their residence. The reason they have this need is because they lack mobility and have trouble entering and leaving their home due to steps. The need can be that they have to use a wheelchair in order to move around and they need a ramp in order to wheel their way into their home. They may use a walking device and do not want to carry it up their steps as they enter and leave the home. It is to give any senior who has trouble navigating the steps to their home a way to find peace of mind. More seniors are deciding to age in place. Many do not like nursing facilities and the treatment that takes place within these facilities can sometimes be horrible. Also many seniors do not have the finances available to afford living in a nursing facility. This market is everywhere you look. It is any neighborhood where seniors live. It is all over which makes the opportunity so wonderful. Customers with this need are currently having to use caretakers or have their children help them when entering or leaving their home. When one of those people is not around they have to do their best to climb their steps which is extremely dangerous and risky. There are some that spent money on having a ramp installed but many of these ramps were done years ago and are now breaking down and becoming unsafe. The customers are not loyal to any of these ways. They without a doubt love their children and many love their caretakers but when it comes to getting in and out of the home they do not need or want to have to always rely on these people. The ones that have ramps are not loyal to them. They are loyal to high quality and what is going to make their life easiest. If the ramp is breaking down or is already broken they could careless who made it, they want a new one installed. The opportunity is this business is huge. 77% of seniors aging in place want a access ramp to the entrance of their homes. In Jacksonville we have a large amount of seniors that have chosen to retire here or have lived here for a majority of their lives. As long as people continue to age which I do not see stopping now or ever there is always going to be a need to make their lives easier. Unfortunately as we get older our bodies begin to ache and we need assistance doing activities that once were easy. Walking is a huge activity that many seniors are not able to do anymore and they need help.

The innovation to this product is very simple. It is a access ramp made of high quality wood customized to the customer's home entrance. It is smooth wood that allows the customer to walk, use a mobility device such as a wheelchair or walker to reach the entrance of their home as well as leave it. I will make money by charging the customers for my service and labor. I will not only be building the entire ramp start to finish but I will also be installing it to make sure it fits perfectly. From the cost of materials all the way down to the design and customization of the ramp, each comes with their own charge. For the entire job the cost is going to range from $3,500-6,000. This may seem like a costly product and it is. After doing thorough research I found out that this is no 200.00 deal. It is a high dollar product and those who are in need of this will be willing to pay this amount. My product will solve the mobility problem seniors have when entering and leaving their home. The reason customers will want to purchase this product is because as honest as I can be they have no other options. Everyone needs to feel independence no matter what age they are and in order to feel this you still need to be able to get out and enjoy life. My customers want this quality of life and they do not have to live in fear each time one of their feet touch a step. These are a few parts of my Venture Concept. This is a not a new product or a new idea. Access ramps have been around for years but cheaply made ones have taken up the majority of the ones we see when driving through neighborhoods. I can count on one hand the times I have seen a access ramp to a home that actually looks in quality shape. Most are practically falling down and I wouldn't even feel safe using it. The competitors are others who specialize in this industry. Their weakness is that a lot of them try to take advantage of seniors and do work that is below par. They are there to complete a job and get paid. Price points are what play the largest part in my business. I do not have to worry about many other aspects because I am going to be working solo so I will be taking care of the entire business at first. As the business does grow I want to be able to hire at least 5 men or women that have experience in building and would be able to help with labor while I am able to focus more on handling the back end of the company. As I mentioned my work ethic is what is going to make this a success. I am not going to stop until I know that I am gaining traction and that the work I am putting in is paying off.  My customers can look forward to interior ramps as time goes on. Even those without stairs in the home sometimes have step downs to get into other rooms. I will be able to make ramps that allow them to get from one place to another with ease.

In five years I want to have this business off the ground and be making positive capital. I need it to be at the point where I can start implementing other products and services that relate to the original idea. I want to stay in this industry because I believe there is a huge amount of money to be made here. I also don't want to become a serial entrepreneur that throws money into any idea thinking it will stick. I have watched plenty of people do this and become bankrupt. I feel that if you have a business that is thriving and you are able to continue to build it up why would you branch off into the unknown.

2. The feedback that I did receive was really positive. Most found this was a great opportunity that I discovered. The other part of the feedback that made me really happy was the support surrounding the name that I created for the business. Ramps for Champs was something that I thought of because I want seniors to feel empowered by having a access ramp at their home. I don't want them to feel that it is a sign of weakness but shows that they are willing and able to get out and enjoy life. One part of the feedback I took to heart was that a peer pointed out that five years seemed a bit long to get the business going and at a point I feel comfortable with it. They thought three years was a better number. I can see where they are coming from but I chose five years because that is a long enough period to really plant my feet in this industry and know where I stand. If that can happen sooner than I am more than open to that. I also enjoyed reading the feedback from the What's Next assignment. There was a lot of talk about introducing new products along with my ramp. That if I could find a way to make a walker or mobility device that would last long and not be a high cost for me then it would be worth it. Also someone mentioned making the ramp lighter so a person could pick it up and move it. I liked this idea however I do not see myself going in that direction because the people I am making the ramp for would most likely not be able to pick it up and move it to different locations. That is very dangerous for the customer and I would not feel comfortable with that. I want to be able to incorporate other mobility products down the road but my primary focus in the beginning is going to be access ramps and mastering the ability to produce the best in the market.

3. Through this venture I have received feedback also regarding looking at a different market besides just senior citizens. I have been told that I would enhance my business overall by also offering this to people with disabilities. I have thought about this quite a bit and feel like I would add this customer to the top of my list with seniors. I would be naive to look pass this market and the need for ramps within this community. Growing up I had a friend who could not walk due to a disease and his parents had a access ramp built for him. I remember thinking how great that was for him so he did not have to suffer when trying to enter his home with his wheelchair. Seniors are going to bring in a lot of revenue but so are people suffering with mobility disabilities. I look forward to also making different types of mobility products as my business gets going and starts succeeding. I want to be the guy people think of when they think of mobility and a way to make their lives easier. I appreciate all of the feedback I have received this semester as it has only allowed me to make adjustments and make my business better.

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