Finance problem
Kyle Strang
FIN 335-001
Evaluating a new idea
My idea is a beach chair that folds into a significantly small size that is easy and comfortable to carry. The problem that this is fixing is beach chairs are extremely inconvenient and hard to carry to the beach. This is a problem I face every summer. I am stuck trying to carry a few chairs for family or friends. My walk is fairly short to the beach; just a couple of blocks. I find myself stopping and readjusting a few times each walk. This is extremely annoying. I feel that people would be willing to pay a little extra for a chair that folds in a convenient way to carry. I think at times this problem discourages people from going to the beach because they don’t want to lug the chairs from the car to the beach. I have found myself extremely annoyed and unhappy when I finally get to the beach. This ruins the whole point of being at the beach, you want to be relaxed. I feel that my new idea of creating a beach chair that folds in a convenient and small size for the customer to easily carry will fix a lifelong problem.
Why Now? I think now more than ever people are aiming to create a convenient and carefree lifestyle. My product does that exactly. The current product is an old and simple chair that folds one way and has various straps to carry. Unfortunately, the straps aren’t comfortable and break easily. The size of the folded chairs makes it hard to fit multiple chairs in cars. My product will fix all of these problems. My chair will create a carefree way of transporting chairs as well as being comfortable to sit on. Consumers today are incredibly smart, and they can no longer stand for the current beach chair market.