Idea Napkin No. 1 ~ Assignment Eleven

I just want to warn you guys that I am not the best at drawing... I also wasn't sure what to draw because my idea is more of a service rather than a product so enjoy the picture that looks like my little sister (who is 5 years old by the way) made it😅

I will answer the questions in the order they were given with numbers because I like organization and I think it is easier to read and understand😁

1. Who am I? 

Well I am a very driven twenty year old who works long hours to achieve my goals. My skills and talents relating to this area of work are all sorts of things. I am exceptional at painting, laying carpet, hanging drywall, changing light fixtures, changing outlets and more. I see this business as a stepping stone. I really would love to have rental properties and flip homes. It is harder for college students to get financing because usually they don't have many assets to leverage with the bank. This would be a excellent way to make good money. With my boyfriend, we could paint homes on the weekends and do a job every weekend. We could even fit some in during the week if we really focussed on time management.

2. What am I offering to customers?

I am offering a service to people at a discount. The motto of Painter's Plus is that we, as a company, will do the painting job at 85% of the customers lowest bid. Painting is expensive and I think more people would do it if it were more affordable. I actually asked a couple people why they wouldn't paint their house and the top answers were because of the price and the lack of time.

3. Who am I offering the service to?

I am offering the service to homeowners. People who rent wouldn't really be able to paint unless it states it in their lease that they are permitted to. Usually, it is not allowed. We are also offering this service to people who flip homes, and/or want to rent their home out. From personal experience, usually flips and rental homes are painting one color so it is appealing to buyers and it is also easier to paint again when the tenant moves out. We will also appeal to people who don't want to get their hands dirty.

4. Why do they care?

People who are trying to sell their homes care because they want to appeal to most people. A lot of people want a house that is in style. Renters also look for the same thing. People usually want updated homes when they look to buy because they don't want to have to do any work. They want to move their stuff in and start their life immediately. A simple coat of paint on the walls can really transform a house. People that don't know construction usually cannot see the bigger picture. They can't see what it COULD look like. They see it how it is even if it is just paint.

5. What are my core competencies?

Some of the things that set Painter's Plus apart from other companies is that we will offer a lower price than almost all other companies. We are also reliable. We will show up when we say we are going to show up and we will get the job done when we say we will get it done. Our word means a lot. If you aren't reliable, why would anyone want to use you? We have personalities as well so we can connect with our customers. We have a sense of design and style and can help a customer decide what kind of look they would want to go for to appeal to the most people.

IN CONCLUSION...

I do think that these elements fit together in making our business work. One thing that might set us back is the fact that we are college students and most people have their own opinions on how college students behave. People could say that because we are young, we don't know what we are doing. I would state that we have a lot of experience in painting so we do know what we are doing. Even though we would be one of the cheaper options, people might not want to hire us because of those reasons. I do think that we have a lot of things going for us. Word of mouth is pretty powerful too so if we were to get started and people were to review us, that could help solve that issue.