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Second Screen Idea 1

The Car Wash App aims to connect users with local car wash services, leveraging strong market potential and high industry growth. It allows service providers to register, view requests, and accept orders, with a one-month free subscription followed by a 20% commission on earnings. Overall, the business idea is assessed to have high potential based on various factors including market demand, target customer satisfaction, and founder capabilities.

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Raja Saad
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35 views8 pages

Second Screen Idea 1

The Car Wash App aims to connect users with local car wash services, leveraging strong market potential and high industry growth. It allows service providers to register, view requests, and accept orders, with a one-month free subscription followed by a 20% commission on earnings. Overall, the business idea is assessed to have high potential based on various factors including market demand, target customer satisfaction, and founder capabilities.

Uploaded by

Raja Saad
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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University of Engineering and Technology,

Taxila

Enterpreneurship and Leadership

Activity 2
Group Name: Dynamic Dreamers

Group Members:
Name Registration.
No
Muhammad 21-CP-49
Affan
Hanzalla 21-CP-65
Saqib
Muhammad 21-CP-69
Jamshed. 21-cp-85
Raja Saad
Ikram
First Screen
Car Wash App
Part 1: Strength of Business Idea
Low Potential Moderate Potential High Potential
(-1) (0) (+1)
1. Extent to which the Weak Moderate Strong
idea:
● Takes advantage of
an environmental
trend
● Solves a problem
● Addresses an
unfilled gap in the
marketplace
2. Not timely Moderately timely Very timely
Timeliness of entry to
market

3. Extent to which the Low Medium High


idea “adds value” for
its buyer or end user
4. Extent to which the Very satisfied Moderately Not very
customer is satisfied satisfied or
satisfied by ambivalent
competing products
that are already
available
5. Degree to which the Substantial Moderate changes Small to no
idea requires changes required changes
customers to change required required
their basic practices
or behaviors

Part 2: Industry-Related Issues


Low Potential Moderate Potential High Potential
(-1) (0) (+1)
1. Many Few None

Number of
competitors

2. Stage of industry Maturity phase or Growth phase Emergence


life cycle decline phase phase
3. Growth rate of Little or no Moderate growth Strong growth
industry growth
4. Importance of “Ambivalent” “Would like to “Must have”
industry’s have”
products and/or
services to
customers
5. Industry operating Low Moderate High
margins

Part 3: Target Market and Customer-Related Issues


Low Potential Moderate Potential High Potential
(-1) (0) (+1)
1. Identification of Difficult to May be able to Identified
target market for the identify identify
proposed new venture
2. Ability to create Unable to May or may not be Can create
“barriers to entry” for create able to create
potential competitors
3. Purchasing power of Low Moderate High
customers

4. Ease of making Low Moderate High


customers aware of
the new product or
service
5. Growth potential of Low Moderate High
target market

Part 4: Founder- (or Founders-) Related Issues

Low Potential Moderate Potential High Potential


(-1) (0) (+1)
1. Founder or No experience Moderate Experienced
founders experience experience
in the industry
2. Founder or No skills Moderate skills Skilled
founders skills as
they relate to the
proposed new
venture’s product or
service
3. Extent of the None Moderate Extensive
founder or founders
professional and
social networks in
the relevant
industry
4. Extent to which the Weak Moderate Strong
proposed new
venture meets the
founder or founders
personal goals and
aspirations
5. Likelihood that a Unlikely Moderately likely Very likely
team can be put
together to launch
and grow the new
venture

Part 5: Financial Issues

Low Potential Moderate Potential High Potential


(-1) (0) (+1)
1. Initial capital High Moderate Low
investment
2. Number of One Two to three More than three
revenue drivers
(ways in which
the company
makes money)
3. Time to break More than two One to two years Less than one
even years year

4. Financial Weak Modest Strong


performance of
similar businesses
5. Ability to fund Low Moderate High
initial product (or
service)
development
and/or initial
startup expenses
from personal
funds or via
bootstrapping

Overall Assesment
Score Overall Potential of the Suggestions for
Business Idea Based on Improving the
(-5 to +5) Each Part Potential
1. Part 1: High Potential Expand services like
interior cleaning &
+3
eco-friendly
Strength of Business
solutions.
Idea
2. Part 2: +1 High Potential Partner with car
dealerships for
Industry-Related exclusive contracts.
Issues

3. Part 3: +2 Hight Potential Offer subscription-


based packages to
Target Market and ensure recurring
Customer-Related customers
Issues
4. Part 4: +4 Moderate Potential Improve marketing
and networking skills
Founder- (or through business
Founders-) Related forums.
Issues

5. Part 5: Moderate Potential Seek funding from


local investors or
Financial Issues grants for small
+2 businesses.

Total Overall High Potential

+12

Summary :

The Car Wash Business Idea has a strong market potential, offering a necessary
service with high industry growth.

The Car Wash App will allow different car wash companies to register on the platform
and view requests from users in their area who need their cars washed. Service
providers can accept orders and reach the customers accordingly.
The app will offer a one-month free subscription for service providers. After the free
period, the company will take a 20% commission from their earnings on each service
provided.

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