I need to paraphrase this discussion
Valet Parking
1. In my opinion, the biggest weakness of my team’s business is the considerable startup costs. For valetU, we would buy out a private parking lot next to campus and another lot to build a parking garage for storing cars during the day. In addition, we would incur software development costs for our mobile app. The construction costs of a parking garage would be high and combined with the other expenses, would place a substantial burden on our company’s initial health and cash flow. To ease this burden, we would acquire the necessary financing through loans. Once operations began, we would create financial budgets and focus on breaking even. When cash flow would start being produced, we would set a goal of reducing our principal on the business’ loans by a certain percentage each year. Investments would be of great importance as well to generate returns to aid in offsetting costs.
2. Our primary factor of differentiation from the competition would be the fact that valetU would be the only business providing valet parking services for EWU. The competition around Cheney and Eastern would mostly be roadside parking and campus parking lots. However, neither possess the convenience of having your car parked for you. We would also differentiate on our lower price compared to campus lots. Lastly, our passionate and trained team of employees would provide excellent customer service to keep customers satisfied and returning.
10 years ago
5
Purchase the answer to view it

- valet_parking.docx