19A- Idea Napkin No. 2

1) My name is Benjamin Sherry. I am a senior at the University of Florida and am studying advertising with a concentration in Real Estate. To further my education and expertise, I plan to get a law degree in the next three years. Considering what I have learned at the University of Florida as well as my knowledge of the target market because I am currently a part of it I believe this business is perfect for me. I see it as my primary business throughout my professional life, taking significant pride in it and growing it and working hard on it until I retire.

2) This business offers students a more flexible lease allowing them to account for the unknown future. By offering semester based leases aligned to the local University, this business gives students the opportunity to pay more for rent because they do not need to when they are gone or save more money on rent in general. By not being stuck in a lease, students are encouraged to travel and experience as much as possible. Additionally, the uncertainty of roommates can cause significant stress. By signing a shorter lease, these fears and stress are alleviated.

3) This is being offered to college students who are not local to their college town. More specifically, the primary target groups are students who travel home for summers, who plan to travel abroad, who plan to intern or work in another city during a semester or summer, students who are unsure who they want to live with or students who want to get a nicer apartment for less money.

4) Customers will care because this is a product that offers them something that is potentially nicer than something they can afford now for a lower price. Shorter leases save them money giving them the opportunity to spend more per month. Additionally this alleviates stress significantly by knowing they do not need to lock into a year long lease where they may not know where they are going to be in several months or who they want to live with.

5) We are the only short-term housing option that is independent apartments allowing for term based leases that align to local University scheduling.

My business fits together perfectly. All of the target audience is college students, and nearly all of them live near campus. Most of them have families to go home to or plan to get internships in different cities, so all the different aspects of the business fit together very well.

Based on my feedback, I decided to focus more on the benefits of a short term lease for roommate issues or convenience, because this seems like something that adds a whole new market to the business. I also focused more on the fact that our target market can get more for less, as it seems like college students are always trying to get closer to campus and a nicer place for less money based on the feedback.