Klinger note: You might not agree with everything here but the approach is very well done.  There is one thing that I would change and that’s the financials.  I like that they put in the thought about the costs.  A better way to present the annual costs would be as a simple income statement.
Raritan Valley Valet
RV V

Steven Nelson
Bryan Chiaravallo

Ten Frustrations and Prospective Businesses (in order of importance)

1)	Valet Service
Every day the main issue that both of us found to be of substantial anguish seemed to be the fact that parking can scarcely be found. When either of us falls behind by even a few minutes, we are left with minimal parking and have to fight against at least ten to twenty other cars for one spot. People have to follow students who seem to be heading to their cars in order to obtain their space once they leave. Having to take all the time and effort into finding a spot is a waste and an unnecessary stress for students. Some might say an easy solution is simply to leave slightly earlier. However, if everyone were to leave earlier, there would only be the same issue because everyone would again be there at the same time. Sometimes it is just impossible to get there earlier. The valet service would allow the students to just get to the parking lot, drop off the car, and run to class.

2)	Concierge Service
A second issue that we both found irritating is the fact that people must drive themselves in order to obtain desired items. We both agreed that there should be some type of service that allowed a person to simply call and list the desired items, and a person would deliver it to ones house for a fee. It would make things easier for many people, not only students. Sometimes it is hard for a person to leave the house in order to go to the grocery store, hardware store, or a variety of places. This could take one less thing off a person’s to do list. Some grocery stores already offer this service, but this business would allow for a person to order almost anything they desired, to an extent. It could ultimately be hard to say “I will not get that item” or “I cannot find that item.”

3)	Portable Gym
We came up with the idea to have a portable gym. We would have a giant bus of some sort that had all the gym equipment inside that could travel to a home and allow a person to be trained by a trainer, without having to go to the gym, and without having to buy all the equipment. This would be really beneficial to a person who is embarrassed to go to the gym because of their weight, appearance, or because they just do not like being with a lot of other people. The downside is that not many people who live in close vicinity have these quirks when it comes to the gym.

4)	Home Car Wash
It is somewhat annoying when we go to get our cars washed at the stationary car washes, and are left with a substandard clean car. When the car is sent through, it is not completely cleaned and the people do not seem to towel the car off properly. This leaves the car looking spotty and imperfect. This business would allow for a person to get the full attention their car deserves. The downside is that it would probably only cater to the upper class or people who are extremely devoted to their cars.

5)	Entertainment Hall
There are not many places in central New Jersey, or all of New Jersey for that matter, in which teenagers or children can have fun. There have been endless times where people either go to the mall or just over each other’s houses. Especially in the winter, there is not really much around. Some sort of indoor entertainment facility would be beneficial to a wide variety of people. The downside is that it would be very hard to make money with that and it could be a problem with misbehaving/violent children.

6)	Pet Care Service
An annoyance that just about everyone can understand is the chore of: taking care of pets. It is extremely hard to maintain a job and/or go to school while still giving the attention to ones pets. The pet care service would allow a person to drop their pet off at a facility while they are at work, or a staff member could make house calls. Businesses such as these have been known to fail.

7)	Wireless Internet Parking
An annoyance that most can relate to is that of finding Internet. A solution would be to have Internet in parking lots. Our company would rent “space” from different stores in which to place our wireless Internet router. People would have to subscribe in order to benefit. Once a member, a person could just drive up to a wired parking lot and instantly have Internet no matter where they are. It has the possibility of spreading throughout the United States. A downfall could be that businesses would not be interested because we would take their parking.

8)	Delivery Restaurant
The only areas that people can usually order food and have it delivered, besides pizza, is by the shore. A delivery restaurant in the area would be a Godsend. A person would no longer have to drive to a restaurant in order to have a decent meal. It would be great for those in a rush or just a person who is a bad cook! There could be issues with how well the food travels.

9)	Call in data center
A big frustration is when we are trying to think of specific quotes, shows, songs, and just random tidbits of information, and just cannot! This would allow for a person to call in and ask a quick question for a small fee. Sometimes when looking on Google its just impossible to find the one website from the thousands that actually helps. This would also be great when a person does not have a computer handy and is dying to know what exactly it is that they are thinking of. This probably would get few calls to make any money and could only be a side business for a person, if that.

10)	Phone Manufacturer
In the past year, very few new phones have been released. The ones that have been are not very appealing to most. We would create new phones and release them to the public. Competing with the already established brands would be extremely difficult.

Description of Business

	The Raritan Valley Valet would allow students to just drop off their cars in a designated location and run off to class without worrying about parking. A main complaint that we consistently hear from fellow classmates is that there is a lack of parking for students. To prove this, we took a poll of thirty Raritan Valley students to see just that. The poll revealed that 26 of the 30 students felt that there was an issue with parking and 57% were interested in a valet service. It is always a mad dash trying to beat a person to a parking spot, or trying to find a person walking towards their car. It sometimes puts people in dangerous situations! To correct this, we would have people stationed in Lots one and two. Students could drop their cars off in the top rows of parking spots (which would be taken out in order to have a place to line up cars) and then the crew would make use of lots three, seven and lastly five to park cars. The hours of operation would be between 9:00 and 4:00. Between these times seems to be the most issues of traffic. If a person were to need their keys after four, an arrangement would need to have been made beforehand, or they would need to pick it up prior to four. We decided on pricing the one time use fee at two dollars and unlimited semester at thirty. During the poll we found that eighty two percent of people who wanted parking would pay thirty dollars for the semester. Approximately 2,500 students would have unlimited semester parking for each semester. We also estimated that approximately 75 students would use the one-day price. Not only would the valet service be popular, but also there would be no competition at this time. This would not only profit us financially, but it would take stress off students and allow them to focus on what really matters, school.

People Needed

This business is very interactive. The valets are constantly interacting with different people the entire time they are working. They represent the company and should do so in a positive way. People are entrusting us with their cars, we need to make sure that we show them that we are worth being trusted. The valets should be clean-shaven, organized, wear matching uniforms, have a clean driving record, and have a valid NJ license. They should be energetic and have a positive demeanor. Basically someone you can give your keys to and think, “Hey, I really trust this guy.” We (Bryan and Steven) will try to help valet where we can, but our main focus is to take look over the company. Being that it is a small business, having multiple people to have singular jobs would be a waste of money. Thus, we will have to take over the responsibilities of the CFO, Controller, Treasurer, V.P of Financial Planning, as well as those of all the other positions.

Facts and Figures

Cost for starting the business
Insurance $2,300 a year per person (x10) with a first payment of $480.00
Workmen’s compensation $3,700.00 a year with a first payment of $620.00
Large locking key cabinet $69.99
Key tags (30000 ct) $300.00
Booth for operation business (x2) $560.00
Miscellaneous costs $500.00
Total Cost to start the business $3,089.99
Cost for maintaining the business yearly
Payroll $84,000 a year (8 employees. $7.50 an hour. 7 hours. 200 days)
Insurance $20,300 a year (8 employees. 2 partners)
Workman’s compensation $3,700.00 a year
Supplies $5000.00 a year
Miscellaneous costs $2,500 a year
2% of income into savings (3,600)
10% of income to the school (approximately $18,000)
$137,100.00
 Potential Income
5,000 students year for unlimited semester ($150,000)
75 students a day at $2.00 ($30,000)
$180,000.00
-Less yearly costs – 
$137,100.00
$42,900.00 a year to split between Bryan and Steven.

SWOT Analysis

Strengths

1)	We would be the only valet service at school.

2)	We would allow students to get to class on time.

3)	Provide the school with safer parking lots.

4)	Bring in extra revenue for school 

5)	We would be professional and courteous.

6)	Both Brian and I are safe drivers.

7)	Brings extra class to Raritan Valley.

8)	Makes school look more orderly and organized.	Opportunities

1)	Bringing in more employees/partners.

2)	Expanding to other schools.

3)	Expanding to country clubs and other consistent establishments.

4)	Branching out to personal single time valet service for parties and events.

5)	Can offer other car services while student is in school. (wash, vacuum).

	
Weaknesses

1)	Both Brian and I have never owned a business.

2)	Having a valet at school would be a completely new concept.

3)	Some people might not entrust their cars with other students. (38% of people who said no)

4)	The school could be skeptical of a business by students.

5)	Lack of area to line up cars.	Threats

1)	Accidents

2)	Theft by employees

3)	Competition is created

4)	Increased parking at school

5)	Convenient bus route.

6)	People become more time conscious.	

Poll
30 RVCC students were questioned out of 7000 
Approximate numbers created by percentage
Do you find parking to be an issue at school?
Yes- 26
No- 4
Would you want a valet service to assist you?
Yes- 17
No- 13
For those who said Yes, Would you pay…
$20.00 a semester?
Yes-17
No-0
$30.00 a semester?
Yes-14
No-3
$40.00 a semester?
Yes-8
No-9
What times are most inconvenient?
Approximately (9-4) – group collaboration

Why would you not be interested in our valet service?
I can find parking on my own.
Do not trust students!
Good excuse to be late to class!
I don’t mind walking from parking lot 5.

Works Cited
 
Insurance quote
AAAA Insurance group 20 cherry street South Bound Brook New Jersey
Jesse Smith Insurance agent
Items
http://www.organize.com/lalokeycadag.html For price for key holder
http://www.napsupply.com/suclita.html For pricing on Key tags
Home Depot- Valet Kiosks
Numbers
Poll of 30 RVCC students and RV website for total students