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Business Idea for College class. Need Input


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UND_TechVentures
New User

Oct 14, 2015, 12:01 PM

Post #1 of 4 (719 views)
Business Idea for College class. Need Input Sign In

Hello,

Course: I am currently in an Entrepreneurship/Engineering course at the University of North Dakota where we team up business students and engineering students to learn how to research and start business models from scratch.

Our Business Model: We have chosen to do a business where we sell individual self storage garages that include different types of equipment that the average person might not have access to (Lift, oil deposit, etc). We feel that this would allow DIY'ers to work on more projects themselves. The garage would be 24'x24'. Two stalls, one would include a lift, the other would be empty with a lofted area over it for extra storage. We would sell these garages directly to the client, so they would own the garage, then just charge an annual membership/"HOA-like" fee. In addition to that, we would have a clubhouse area on site. This would be a spot for the garage owners to hangout and socialize with other owners.

My questions for you:
What do you think of this business idea, is it something that would allow you to work on more/more complex projects?

What other amenities would you like to include?

Is there anything I listed that isn't necessary?

What price would you pay for something like this?

All input is helpful! Thanks!


Discretesignals
Ultimate Carjunky / Moderator
Discretesignals profile image

Oct 14, 2015, 12:38 PM

Post #2 of 4 (709 views)
Re: Business Idea for College class. Need Input Sign In

It has already been done. Google self service auto shop.





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kev2
Veteran
kev2 profile image

Oct 14, 2015, 12:48 PM

Post #3 of 4 (707 views)
Re: Business Idea for College class. Need Input Sign In

is there a plan B?
a DIYer would buy a cookie cutter garage and equip BUT WAIT also contribute a monthly fee...
something is obviously not clear .....


Hammer Time
Ultimate Carjunky / Moderator
Hammer Time profile image

Oct 14, 2015, 4:40 PM

Post #4 of 4 (698 views)
Re: Business Idea for College class. Need Input Sign In

IF you can buy liability insurance, it won't be cheap. The danger and liability is sky high.



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