24A – Venture Concept No. 1 Submit Assignment

• Opportunity
• While attending sporting events such as baseball, hockey, football, and soccer games, there are always tons of fans in the stadium.  While in the stadium, there are several needs such as food and drinks.  When a team is doing well, fans tend to want to continue to come to events to support their organization.
• The nature of sporting events, is that people are constantly waiting on a line to purchase food and drinks.  With these lines being so long, people are consistently bumping into one another or missing parts of the games from the lines being too long.  When people are attending these events, they are trying to enjoy themselves as much as possible with their friends or families.  Other groups of people that want to enjoy these events are tourists who probably do not want to miss a second of the game.
• The need is for people to attend these events and have fun with having the opportunity to not miss as much of the game as possible.
• The forces that allow people to have to wait on lines is the amount of people that are attending the events, the size of the stadium, along with the amount of concession stands and different types of food in the different parts of the stadium.
• There are no satisfactory resolutions to this case.  Majority of my interviewees that I spoke to while they attend sporting events is that they cannot stand having to walk around for the specific food that they want and when they finally arrive to that specific stand, they cannot wait for much longer because they have already wasted so much time. 
• Potential customers can be identified as individuals who are in the ages of 16-50.  These are the fans that typically are attending sporting events and will able to pay for their food and drinks by card on the tablet.
• Innovation
• This tablet is designed to cause less crowded areas and limit lines throughout the stadium as much as possible.  The tablet is also designed so that you will not be able to miss a single play of the event you are at and if you do you will be able to rewatch the play on the tablet itself.  You will be able to order food and drinks and be able to have them brought to you while you are sitting in your seat.  The only time you will have to get up out of your seat is if you would have to use the restroom.  On top of being able to rewatch plays, you will be able to see the scores around the league of the type of event you are attending.
• The tablet will be sold to stadiums around the United States and hopefully be able to expand internationally.  The cost of the tablet would depend on the size of the stadium and how many the stadium plans on purchasing.  The more tablets that want to be purchased, the less the price of each will be.
• I will also be making more money on top of selling the tablets by taking a small percentage from the amount of food and drinks fans are purchasing throughout the stadium.
• Venture Concept
• Stadiums will purchase my product if they want to be able to limit the amount of lines throughout the stadium.  They will also be interested in the fact that they will be saving more money on other technology because this will satisfy the needs.  Stadiums will not have to hire as many people as well because they will only need people bringing food to the seats rather than working the actual stands.
• I do not believe that it will be hard for stadiums to switch to my idea once I get one stadium to purchase first.  They will be able to see how much money that stadium is saving and how there is not as much trouble as there typically would be.
• As of right now, there are no competitors because nobody has come out with an idea such as this.  Once the product is bought, it will be hard to compete against it because it is an expensive investment for the stadiums to switch.
• I will effectively distribute by visit different stadiums and showing them the tablet and how it works.  Once stadiums begin purchasing them and they are being installed, more stadiums will be able to see how they work and I will not have to travel as much.
• Customer service will be taken by the fans attending the event.  After the event, a survey will come up on the tablet that will allow them to respond on what they thought.  Fans do not have to do the survey but if they do they will be given a coupon code via email for the next time they are in the stadium.
• I am estimating that I will have about 20 employees.  These employees will be for tech help and questions concerning the product.  I will hopefully be able to have some travel as well so I do not need to be the only one doing it.
• Unfair Advantage
• Being able to have my background in sports with such a highly respected organization in baseball is going to be what puts me over the edge.  I have made so many connections that I could go to for help on this product to tell me what I am doing right, wrong, or what I could even be doing better.
• What is next
• I want to be able to make tons of money off of this product that I believe could make a run.  I also want to be able to help fans continue to love their experience while going to sporting events because it is a major hobby of mine along with so many others.
• For Me
• If my product was able to pull through, I would want to be able to go around explaining to students who have ideas to continue to pursue them and not back down.  I would want to share the struggles that I went through while being an entrepreneur.