- For my existing market, I believe I should expand the services I provide around the north Florida area, as there is a low amount of businesses around the area. The nearest location with existing indoor soccer facilities appears to be Jacksonville, FL. With this information, I could expand more towards Tallahassee, the capital, which is also full of college students around the prototypical age group of late teens to mid twenties.
- After successfully establishing my business in this city, and receiving a large amount of popularity and publicity, I would want to start targeting the coastal cities of Jacksonville, and Tampa. These locations have a larger population than the college towns, and provide a new opportunity with the more varying customer age groups.
New Market:
- Considering that indoor soccer matches are cheap when split per person, I believe that the new market should be providing services that are more expensive for an individual. I could broaden my services by implementing a soccer camp for the youth population in the cities. This would increase the flow of business I receive and provide a service that parents need.
- Expanding into the soccer camp market allows me to target a younger age group while providing a service to parents that is in need, especially while school is out. During the summer, if no one is able to watch their children, parents could register their kids for my summer program. They will be looked after while the parents are at work and it will also be education and fun for the kids to participate in.
You did an excellent job on this assignment and really explored how you could grow your business. To begin with, I think expanding into a more expensive market could be advantageous. With so many young kids being very competitive in soccer academies from an early age, there is definitely a need for elite, indoor training facilities. If these facilities could also be rented out for private event use, the profitability would be even greater. It would take rigorous human resources to find qualified trainers, but is a solid overall idea.
ReplyDeleteHey Luis,
ReplyDeleteFrom what you have written about your existing and new markets it is clear that you have a good grasp on what is necessary to make sure that your idea is sent into motion. I think it would be a good idea to expand your company beyond Gainesville once you become used to the business environment and gain a following. Also, for your new market that is essential to start expanding so that you are not caught in a bubble and getting kids to participate is essential so that they grow up around your facilities.
Best,
Austin Felter
Hello Luis,
ReplyDeleteFirst off it is very obvious that you have a full understanding of what markets will use your service. About expanding your existing market however there could be a flaw. As a resident of Tampa and the girlfriend of a soccer player, I know that the soccer scene in this area of Florida is very competitive. There is already an indoor arena style similar to what your business would provide and it has extreme customer loyalty with current players. Also, soccer camps and clinics hosted for serious players here are not usually successful unless hosted by a respected club team, championship winning high school, or coached by well known coaches. Because of this I think you need to be careful about how you market your service of camps.