29A Venture Concept No. 2

Opportunity

Who has the need?  Not only do the homeless population of Alachua county need better resources, but having a comprehensive facility could benefit everyone else in the community at large.

What is the nature of the need? The homeless population in Alachua county is alarmingly large, and only continues to grow.  Many people are in need, and could benefit from a program that helps them get back on their feet.

Other Topics

• What are the forces or changes in the environment creating this opportunity? Although there are always people who are homeless, certain forces like an economic recession make the need for assistance more present.
• How is this market defined geographically and demographically? The people being aided by Homeward Bound Florida would be similar—out of a job, down on their luck, or in need of basic necessities.  Geographically, they would be in Alachua County.
• How are customers currently satisfying this need?  And how loyal are they to whatever they use now?  Currently, there are resources like GRACE Marketplace and the homeless shelter on 4^th Avenue.  However, the shelter is always full and their resources are limited.
• How big is this opportunity? There is a huge opportunity to help the homeless, because the need will always exist.
• How long will the “window of opportunity” be open? This window of opportunity will always be open, although the number of homeless people at any given time will fluctuate.

Innovation        

What it is. A comprehensive resource center for the homeless.

What it does. Provide people in need with basic necessities as well as auxiliary services like financial literacy classes and interview training

How it works. Through volunteers, government assistance, donations, and a handful of paid employees, we will create a comprehensive resource system for the homeless.  We will offer basic services such as a shelter with facilities like beds and bathrooms, for people to temporarily live in before they get a job.  We will also offer a soup kitchen and donated clothes available to those that need it.  However, Homeward Bound will not stop there.  We will provide more advanced services to help people find employment and learn life skills.  For example, I plan to offer gardening class, interview help, job coaching, cooking, basic financial literacy, Microsoft Office applications training (Word, Excel, PowerPoint), a career closet for interview clothes, and help with job placement.  We will also lobby to offer tax breaks for companies that hire people coming form our organization.

How I will make money

·       What exactly am I selling, and for how much? To our donors, I am selling a way to make the community a more productive and happy place to live.  I will make money through donations and government assistance, and the organization will be nonprofit.

Venture Concept

How will my innovation solve or address the opportunity I have identified?

Why will customers buy my innovation?

• What are the reasons to think customers would switch to this new product?  How hard will it be to get them to switch? Since my business is not offering a single product, our said “customers” will not have to ever switch.  Rather, we are offering a way to help the community and the people in need.  Businesses who hire people coming out of the Homeward Bound organization will receive tax breaks, which may influence them to hire our candidates.
• Who are the competitors?  What are their possible weaknesses or vulnerabilities? When it comes to nonprofit organizations, there are very rarely any “competitors.”  Rather, it is a web of related organizations working towards a common goal.  Instead of seeing other homeless shelters and soup kitchens as competition, we welcome any organization that serves the needs of the homeless population.  Furthermore, we are nonprofit which means that our main goal is to help people, not profit off of them.
• What role does packaging, your price points, distribution, customer support, the customer experience or the business location play (if any) in defining your business concept? Very little.  We are offering services, not a certain product which can be packaged.  The customer experience, however, relates to how well we can provide our services and leave people happy.
• How would you organize a “business” to support the ongoing production of your new product, service, or process? How many employees? What roles are in the venture?  There would be a few paid employees that would be full-time, but most of our staff would be volunteers who dedicate their time to various services that the organization provides.

The Three Minor Elements

1.   My most important resource.  My most important resource is the fact that the business is constantly striving to help more people.  We are only limited by the amount of money we receive.  In today’s world, people love seeing socially responsible organizations that do more than just turn a profit.  People will want to donate to Homeward Bound Florida when they see how far their dollar can stretch, and how many people they can help

2.   What’s next for the venture? After the venture is successful in Alachua County, the plan is for it to expand to other small cities in Florida.  Once we start building up consistent donors in those areas, we will tackle the larger cities that have the most need.  The goal is to eventually expand nationally.  The bigger this organization grows, the more people

3.   What’s next for me? For me, personally, I don’t know if I will ever want to start my own business.  I’ve never been the type of person to take a lot of risks, and I’m not sure I could dedicate the time to starting something from the ground up.  In 5 years, I might have my first job or be graduating from a master’s program.  In 10 years, I hope to be married or maybe even have my first kid. Wherever I stand in my personal life, I want to be professionally successful as well.  However, starting my own business does not necessarily equate with professional success in my mind.

      Feedback From Last Time
      Some of the feedback I received last time was that it might be difficult to start a business that is run completely off donations and government aid.  I recognize that this will be a big challenge, and plan to have a head fundraiser and fundraising committee.