Venture Concept Number Two

29A - Venture Concept Number Two

Opportunity:

            My opportunity is to create an architecture firm that specializes in the selling and installation of solar panels. The need in my business seems to be very basic. Who has the need? The answer is everybody. If we want to be more sustainable and save the world we live in, then we need to take action. The target audience for my business is the people in the city of Miami. So ultimately, my potential customers would be people living in Miami. There is no age limit; I am marketing to people of every age, people with homes, businesses, anything with a roof. Forces changing and creating this opportunity is the new wave of the environmentally friendly generations. As this generation rises, I think we’ll find that most of them have a drive to be sustainable and environmentally savvy.

Innovation:

            My new service would be selling and installing solar panels on already constructed homes or home that my firm constructs. The goal is to get as many homes with solar panels on them as possible. Solar panels produce electricity, but that electricity has zero emissions. This results in the drastic reduction of greenhouse gas emissions. Additionally, the installation of solar panels equates in an automatic 30% federal tax credit on the total cost of the system. The homeowner could end up saving $5000 or more based on the size of their solar system. Ultimately, the cost of solar systems being installed on roofs could vary greatly. The cost depends on the size of the area, the number of watts in the solar panels, and the deal you can get from the solar panel producers. Typically on a residential home with solar panels sized at 3kW, the price could be around $9,000. Again, this depends on the size of the home and the amount of square footage covered.

Venture Concept:

The opportunity identified would be on the path to be solved if people were to invest in solar panels. Not only does it benefit the environment, but it would also benefit their wallet. This new generation is focused on making money, and at the same time, focusing on saving the world that is consistently crumbling around them. A good, timesaving strategy for them to achieve both their goals would be to invest in solar panels. I think with the right marketing it won’t be hard to get a person to switch to having solar panels on their homes. In Miami, there aren’t really any competitors to this specific idea. This leaves room for me to come in an explore my options. As far as organizing a “business” for the ongoing production of my product, I would definitely need different sets of crews. I would need marketers, installers, operators, investors, and faces that people can connect with.

            As far as feedback from my peers goes, I received a lot of positive comments! I got a lot of support in my decision to branch out my company. Someone recommended the next area be Tampa or Jacksonville, since these are places still in Florida. For the most part, a lot of people understood that I didn’t know what I wanted to do next; that I couldn’t say exactly what is next for my business venture. I think it is worth noting that someone commended that my business may not be feasible just because of the whole cost of everything, in comparison to the amount people would be willing to spend. I have to say, this is something I’ve been struggling with my when planning this entire business. Ever since I started researching solar panels, I found the cost was very high. I’ve been very worried about this business even being practical, but I decided to continue my research and progress anyways.

            I’ve decided to not really change anything about my venture concept. All the feedback was very helpful, and I decided that the easiest way to continue my business would just be to stay on this path. Thank you to everyone for your help and feedback!

Three Minor Elements:

First, my seemingly most important resource is my connection with the Miami community. I know so many people and I know the surrounding area very well. This allows me to market in the correct places, talk to people about the local area, and connect with them on a personal level.

Second, I’m not 100% sure what’s next for the venture. I think the next opportunity could be branching out with this business to other parts of Florida, or possibly other states such as California or Arizona.

Third, I’m not 100% sure what’s next for me either. In the next five years I would like to be starting to put this venture in motion. It would definitely take some time to establish secure connections with people and get a business location/employees.