Venture Concept No.2

 1)       The opportunity that I am trying to capitalize on is the need to stay healthy and happy in a time where there are ample amount of unhealthy distractions in today’s society. One of the main components of staying healthy overall is fitness. The current fitness industry lacks diversity and exhibits large amounts of mundaneness. The opportunity lies in those unhappy customers who are participating in workout class, paying gym membership fees, joining yoga clubs, etc. and are making slim to none progress on their goals and overall intent to workout in the first place. These people are yearning for something more exciting, more productive, and more efficient that allows them to accomplish the goals they intended to in the first place. The opportunity lies in people who are looking to better themselves through fitness in a healthy and enjoyable manner. These people want to have fun and enjoy life, while staying in shape in order to sustain their lifestyles. I think technology is exposing people to more things than what is just in their immediate environment, and this is resulting in people getting curious about things and having new interests. In order to fulfill your goals, and incorporate these new interests, new venues of fitness need to be introduced into the marketplace. This opportunity is huge. The fitness industry is a billion dollar industry and I honestly feel that it id nowhere near its full potential. Fitness will always be a part of society, as humans need to be healthy to survive and be happy.

            The product and service that I am trying to introduce into the market will satisfy these unmet needs and diversify the industry in such a way that people will be drawn to it over everything else available. I will provide a fun, productive, safe, and effective exercise class involving a patented balance training device that will be implemented along will aerobic, exercise, stretching, weight lifting, and yoga to create and all encompassing, exercise class. This balance training device will essentially be a scaled down surfboard on a roller that will allow the athlete to train leg muscles and core highly efficiently as well as other small muscles needed for balance.

            My customers will be extremely happy and grateful this product and service is on the market one it is. It will open their eyes up to a whole new way of exercising that will actually be enjoying, while also reaping great results. Everyone will love this new class once they hear about it. The implementation of exciting tools such as projections of waves, sand on  the workout floor, and beach vibes music will give this company the competitive advantage that it deserves. I will implement 1 week classes, or longer 12 week programs that will include on water training as well. This is the new wave of fitness and if you want to stay healthy, you better learn how to surf it. I would say the main possible weakness or vulnerabilities would be a potential competitor trying to replicate my product/service. However, this would also drive more traffic towards my company, which will result in higher revenue generation. It’s a win win I suppose. I think business location, customer experience, and marketing are the most fundamental parts that will lead to the success of this venture. I need to start my company in a hotbed of surfing, provide exception customer experience and relations, and connect with the top names in surfing to get the name out there and get the right facing using my product. In order to support an ongoing production of this venture I would need to hire a team to run the classes (yoga instructors, surfers, fitness enthusiasts, etc.) in addition to hiring employees that would help with the production of the training device, take online orders, maintain the company website, connect with potential partners, etc.

           I think my most important resource will be the new and exciting approach to workout out that will be fun and efficient. People will look forward going to this class, both for the experience that they have during It and the benefits that it provides to their health and overall lifestyle. My experience in extreme sports will also allow me to develop this product in a way that will benefit specific sports.

I would say the next step for this venture would be to transition in to other extreme sports similar to surfing. We could design new training devices that better cater to the muscles needs to balance in difference sports. Anything from snowboarding, to skateboarding, to wakeboarding could benefit from an additional training device like this.

I hope this venture would become very successful and would provide me with the financial capital to travel and pursue my passions, all while connecting with interesting and successful people in various similar industries that may be potential clients, partners, or just inspiration for future ventures.

2) To be honest I didn't receive much negative feedback about this idea. The only main thing was people wanted more information on exactly how the balance device works, and which muscles it trains the most efficiently (which I included in my updated venture concept). I also liked someones idea of have a 12 week workout program that accompanies some on the water training with the in class balance training.

3) I didn't really change anything about my core idea, just added some additions elements to it and went into more depth about the product itself.