24A Venture Concept

Venture Concept

Opportunity

Many people still drive cars that lack certain modern technologies newer vehicles come equipped with. Thus, making them easier targets for theft as most people know they aren’t as secure. With this in mind I would describe the market, geographically speaking, is for the most part anywhere in America but specifically areas with higher crime rates. Demographically, I would describe the market as anyone who drives older vehicles, so this is typically new drivers in middle to lower class families as well as of middle to lower class civilians who have yet to upgrade to later models. As of now drivers just remember to lock their doors and keep with good habits to prevent petty theft. Most users prefer this method as it requires no installation and no money however they understand that sometimes they forget to lock their doors and that could be when something of value is stolen. Keeping this in mind, I do not see this opportunity as a huge one, as its’ demographic is slowly dwindling. But within the demographic I see this as a larger opportunity as it will make people’s lives easier and save them money. This window of opportunity will be around for a long time but will never be as big as it is now as people will always be buying newer cars equipped with such technology. For me to make a handsome profit off of this I must move quicker than first anticipated.

Innovation

My product is a key fob that will automatically lock your car doors once you leave but will not lock them in the car ever. This product is geared towards people driving older cars that lack modern day technology that so many of the cars have out of production now. It is a cheap way for users to bring their car to the modern era and reap the benefits as such. This product will prevent petty theft and also prevent locking your keys in your car. All products will be hand built and hand programmed unlike many other technologies nowadays, and by using cheap yet efficient products I will be able to sell it for a reasonable price and still make profit.

Using an Arduino microcontroller board and a rfid module along with a stepper motor this will be possible. By using only several lines of code and basic wiring we can achieve the electronic side of the product, to attach it to the mechanical portion of the door, we will replace the current electronic locking mechanism with our stepper motor and wire the Arduino board in its place.

Venture Concept

I believe people will switch to my product because everyone wants an easier life, and with my product they can save valuables as well as make their life easier. As someone whose had a lot of goods stolen from my vehicle I would change to my product in a heartbeat. Also, with a working prototype people will be more inclined to purchase said product as they’ve seen it work as it states it should. Packaging should be a miniscule price variable as all products can fit in a small package. Originally I saw myself selling this too mechanics or car shops to install in peoples cars because of the new nature of the product but I believe with proper instructions this could also be a DIY product. It will just require some basic knowledge and a good youtube video J