29A Venture Concept No. 2

1. The good thing about this product that I want to offer is that almost everyone can have this need and it can be used by anyone, as long as they are willing to go to the gym which most people are. This market is not defined by any geography or demographic. It can used anywhere and by anyone as long as there is a gym. Customers are currently not satisfying this need because they are all still just  going to the gym in a regular matter and nothing has changed for them. This opportunity can be very big because I want this eventually to be a part of every gym across the country and there are so many of them.

The product that I want to offer is one I have described many times during these assignments and it has changed a little bit as time has gone on. I want my product to be an app on your phone that you use every time that you go to the gym. The first thing this app will do is it will be linked with your gym and it will give you a live number of people at they gym as you will have to sign in and out with the app once you get there and leave. This will be able to tell people how busy the gym is during all hours of the day. The next thing the app will do is hopefully speed up the waiting process on certain machines and equipment while you are working out. Each piece of workout equipment will also be equipped with a little device that you will be able to scan your app at when you start using it and also finish using it. The reason for this is so you can check in and out with the machine. The whole point of this is to be able to reserve the machine for yourself. While you are working out and you see someone using the machine you want to use next. You can reserve to use it next with the app and it will start up a queue for that machine. Once you start using it you will check in with it and once you're done you will check out with it so others will know it is available to use.

I think customers will want to switch to this product because I believe that it will make their gym going experience better. It will also be very easy for them to switch over because it will be included in their monthly gym subscription. The only competitors right now would be anyone with a similar idea to mine. I think it would be very easy for gyms to support my product because they will not have to really change much. They will just incorporate the product with their gym subscription and it will be a very easy change for everyone involved.

My most important resource is the app itself. I have not seen anyone do anything like this before so I think it is original and that is why it is the most important.

I think what's next for the product is first getting a couple of gyms to start using it and when I do that I want to eventually expand it to countrywide.

In the next five years with this product, I want to still be involved with and trying to expand it as much as possible and make as much money as possible from it.

2. I received a lot of feedback on all of my posts and all of the people that interviewed and it was all very helpful. Most of the people thought my idea was very good and they liked, but some people also said that this product is not for everyone and it may not be as successful as I would like which I understand and I know that know that now. I changed my product a little bit based on some of the feed back that I received too. For example, when I first started this idea I thought it would be a good idea to have live videos of the gym so people would be able to see how crowded it was. But I received feedback on how a lot of people may not like that so I changed it to just a live number of people at the gym.

3. My venture concept really did not change much from the last one to this one. The only thing I really changed is what I mentioned above. Everything else stayed pretty much the same or at least very similar.

4.