Idea Napkin No. 1

You.

My name is Jared Vanegas, and I’m currently a Sport Management graduate student in Gainesville, FL. I have a very particular set of skills; skills I have acquired over a very long career (see what I did there?) – one my greatest skills is by ability to build relationships. I have a background in radio and marketing, and I do have a bit of experience in banking, as well. I know what you’re thinking – how is a guy with a background in radio, banking, and marketing getting a Master’s degree in sport management, and why? Well, I’m pursuing a sport management degree because my passion is within sports. However, I also have a passion for business development and being creative, which is why I’m currently enrolled in this course. As you’re all well-aware, my business concept idea is to build Gainesville a new mall that has high-end shops, dining, and a luxury movie theater. I see this business impacting my life in two ways – I’d officially be an entrepreneur, and it would meet the unmet need for me and many other Gainesville residents, which makes me incredibly happy and satisfied.

What are you offering to customers?

This is a bit of an untraditional “product” or “service” – my mall, which I’ve dubbed as Metropolis, will have many high-end dining options and designer brand shops. It will also have a luxurious movie theater that also has a restaurant inside. Additionally, a massive parking garage will be in place for the customers there. There will also be fully-furnished offices and suites for any businesses that want to rent out space for their employees to do their work. Nightlife will also be a massive component of Metropolis, so there will be what we call “night bars” – high-end bars that could also serve as night clubs. A Dave and Buster’s will also be in place there.

Why do they care?

I actually got the idea from a friend who indicated that she and her husband don’t have any date-night options in Gainesville. I’m from South Florida, and a great date-night option down there is a mall because of the entertainment and leisure choices that they have at many of the malls there. I’ve also concluded (based off of my many interviews) that a lot of Gainesville residents aren’t satisfied with Oaks Mall, and they’re willing to go out of their way and drive out of the city to do their shopping. Additionally, this will be a great investment for the community, as it’ll be a boon to the local economy.

What are your core competencies?

What sets Metropolis apart from everyone else is that there is no mall of this nature that exists in Gainesville at the moment. Oaks Mall is a traditional “shopping” mall, and it offers no entertainment and/or leisure options. Tioga Town Center is basically a shopping plaza with some nice restaurants, but it has no entertainment value, and their shops are very lackluster. Metropolis will be completely unrivaled, as there is simply nothing in Gainesville that even compares to this concept. Our biggest competition will be from any mall out of this area in a big city (Orlando, Jacksonville).

Also.. 

I think that all of these elements mesh well together to make a very formidable and ultimately successful mall in Gainesville. There is a huge unmet need here that is ripe for the taking, and anyone with the resources should capitalize on it. A lot of my interviews agree that they find the mall here to be very unappealing, and most would welcome it. The only weaknesses that I see in this business concept are A) land options – Gainesville is not a large city at all, and there is limited space for such a big project like this, and B) cost. Those are big challenges, but I don’t foresee there being an issue in facing them.