I'm a UF student who is both good at coming up with and executing concepts over long periods of time, as well as executing ideas in setting where I need to improvise in a short period of time. My aspirations for my project are to grow this project into something feasible so that I can either have something I can reference when applying for internships or a project I can execute later down my line in life. I offer easily moved furniture to my customers, my project is a line of furniture that is easily compacted and folded so that is can be moved from room to room or house to house. This will meet the need of bulky furniture being extremely hard to move from place to place. The customers I'm appealing to will be anyone who either moves from house to house frequently or redecorates their home frequently. These kinds of people are constantly dealing with the hassle of moving heavy and bulky furniture one load at a time and would much rather have an easier alternative. They care because of how time consuming it is to move furniture all around the room, as well as how costly is can be to move one's furniture from one home to a new one. As of February 2019, there are not large brand furniture companies marketing a product like this, mainly because most furniture companies prefer quality over ease. With a cheaper alternative to home furnitures that is also easy to move, I'm sure that a line of furniture like this can take off and potentially become mainstream.
Over the weeks I've been thinking about this project, I can only think of two major issues. The first being, I'd have to partner with a known furniture company. While this isn't a major drawback as I'd still make a lot of money, I am well aware that I wouldn't have as much freedom as I'd like with my furniture. In theory I could make my own line, but I'd have little chance of housing my units, let alone finding a place and compensating the money to make them. If I can partner with someone or get financial backing, then this one major problem will go away. The only other issue being the design. While I have the design sketched out and hard-coded in my head, it will still take designers who know what they're doing to come in and fully flesh out the product.
As I have said before I think your idea is great, and you continue to think about possible obstacles which shows your understanding of how difficult it is to start a business. I will say, however, that if you were looking to partner with a furniture company solely for financial backing, distribution, and production then your best option would be to create a patent for the idea, have a small production of the product and then license the patent to different furniture companies. Of course this is just an idea, and there are many ways you could go about making this a reality, but overall I enjoyed your post and hope to hear more.
ReplyDeleteLucas,
ReplyDeleteI think you definitely have a good understanding of what your opportunity would entail if you were to do it. Your identification of major issues, which as you said may not even be significant problems, was on point. Your aspirations and background seem to line up well with this opportunity and I hope it can come to fruition at some point for you. Great work.
Lucas,
ReplyDeleteFrom the beginning I have thought that your opportunity of easily movable furniture has been strong and unique. I agree with you when you say that a line of furniture like yours is something that can easily take off in the market and earn huge profit. I like how you identified two major issues and that you reassured that yourself and your opportunity have acknowledged it and know how to succeed past it.