Sunday, April 26, 2020

29A Venture Concept No. 2


My Idea: My idea is a ride sharing venture that assists working parents with getting their children to and from their activities, events, etc. Mom-Assist is a one of a kind business that is specifically developed to help working parents.

Opportunity
As my daughter continues to build her activities and social life, I realized it’s almost impossible to get her to everywhere she needs to be when she needs to be there. As I talk to other moms about my hardships (and my gratefulness for the help I receive from family), I learned that I am not the only one struggling with this. In fact, I learned some of my mom friends do not have any help at all. Some of my mom friends risk losing their jobs to get their children where they need to be. Some of my mom friends pay people to drive their kids to where they need to go. Some of my mom friends beg friends to help them. It’s not easy, and we all need help. The saying is true…it’s take a village to raise a child. We live in a society where it is almost a necessity for family to have two incomes. With both parents working, it’s hard for parents to meet the needs of their children. Working parents need help, and it’s not always so easy to get it. As long as homes require two incomes, the need for help will always be there.

Innovation
Light bulb! What if there was a ride sharing type business specifically to help children get to and from their destinations? What if there was a company parents could trust to transport their children to all of their activities? My idea is a ride sharing business specifically for helping working parents. It’s an innovative service that will provide much needed assistance to parents. Parents would no longer have to juggle a schedule to get their children where they need to go. They can now rely on a safe, ride sharing service to help them. Safety and security are the priority, and because of this, parents will; be able to watch the entire ride to ensure 1) the child is behaving; 2) the driver is behaving; and 3) the child arrives safely (and on time) to their destination. At less than $1.00/mile, parents would be able to afford a service that allows them to ensure their child(ren) are able to get to their activities, events, etc. It’s a winning service for both the parents and the children.

Venture Concept
As a mom who needs this service, I believe parents would use this service to help alleviate the stress of having to get their child(ren) to different places. It would also be beneficial to parents who have more than one child that need to be at different places at the same time. It will also allow parents to give their children more opportunities to participate in activities to find their path in life. At this time, the only competitors I can pinpoint are nannies and other ride sharing services. It will be hard to persuade a family that has a nanny to try this service as they have found someone they trust to care for their children, but for the parent who does not like using Uber to get their child to their activity, this service would allow them to have a safe and reliable method of transportation for their child(ren). Employees will need to go through rigorous background and driving checks before they are accepted as a driver. Each driver will set their own schedule at a minimum of one week in advance to allow parents the opportunity to plan transportation needs at least one week in advance. Ideally, we would have up to 50 drivers per day to support the needs of working parents.

Three Minor Elements
The most important resource I have are my mom friends. They are the ones giving me honest feedback, suggestions and recommendations to ensure this service is safe, secure and desired.

After Mom-Assist is up and running in Palm Beach County, it is my desire to have this service up and running in Broward and Miami-Dade Counties as well. If the service is successful in this tri-county area, I would look into expanding in other metropolitan areas of Florida, and surrounding states. If the service continues to gain momentum, I would look to expanding it to all major metropolitan areas nationwide and monitor the need for the service in surrounding areas.

In five years, I would like to see happy parents and children enjoying their best lives because this service provided more opportunities for them to succeed. If the service is doing as well as I believe it will, in two to three years I would look to add more services like Driving School for new drivers, tutoring services, and a secure online video conferencing platform for children to interact with friends.
Being an entrepreneur was never my intention, but if this idea does work, it would be my one and only entrepreneurial adventure.

After reviewing this with my husband, I decided to add the additional services by year two or three. Being that I would sell the business by year five, I should have all benefits of this service up and running before I sell it.



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