Venture Concept : Vinyl Wrap Application Center

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Faben Venture Concept – Vinyl Wrap Application Center Introduction: I have always had an interest in automobiles, and consider myself an automotive enthusiast. Following the automotive aftermarket for a while, I realized there is a unique, not fully utilized market available: vinyl wrap for privately owned vehicles. Opportunity: The identified market for this venture are individual automotive enthusiasts, such as myself. Individuality is the unmet customer need that necessitates my venture. Current economic forces create the opportunity for my venture. According to statista.com, the revenue generated from the automotive body, paint, and interior repair market was 29.26 billion dollars in 2012. The expected revenue for this year is 34.43…show more content…
The primary source of income is the vinyl wrap application, which I will charge $15 dollars a square foot. A full body wrap will cost between $1,500 to $5,500, depending on quality of material, and complexity of design. My service will differentiate from the competition because I will utilize an assembly line approach that will shorten the installation to less than one day, rather than the normal two to three days. I will produce the vinyl wrap utilizing the current industry materials and technology. The main competitive disadvantage my business concept will encounter is public perception of vinyl wrap being an inferior product to paint. To counteract this perception, I will vinyl wrap my shuttles to display, and demonstrate that vinyl is a great alternative to paint. To prove this point, I have provided personal photographs of two vehicles: A blue Dodge Challenger with vinyl stripes and a white Ford Mustang with painted stripes. Though neither vehicle has a full body vinyl wrap, this example demonstrates how close vinyl simulates paint. As for the lifespan of vinyl, Fellers points out, “Typical outdoor vehicle wraps are good for 3-5 years, wrapped vehicles stored primarily indoors can last indefinitely” (1). Fellers also notes, “The single most important benefit of wrapping over custom painting is that a wrap can often be easily removed or repaired. In fact, wraps are often used to ‘protect’ the original

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