Case 1: DashLocker:
1. How did Hennessy’s background prepare him for starting a business? What entrepreneurial qualities does he embody? Mr. Hennessy prior to start his business, laundromat, he pursued banking as a research analyst at a New York hedge fund for two years. His previous work helped him to be ready to start a business with high-tech laundry service. He learned about and research how to run and open a high-tech laundry service. The entrepreneurial qualities that Mr. Robert Hennessy would have:
1- Forward looking: he identified the potential need for laundry service as it addresses the need of the people and the projected growth in the venture.
2- Innovative: Mr. Hennessy progressed with technology. He grew his business to attract …show more content…
He provided superior and advanced at a relatively cheap price. In addition to that, Mr. Hennessy addressed the issues in payment and safety of customer’s goods. This helped in bringing additional customers to the company.
4- Passionate: He was passionate chasing his business dream. Mr. Hennessy wanted to grow his business in the corporate world. This was obvious from the developments the company’s operations.
2. What were Hennessy’s entrepreneurial motivations for founding DashLocker?
The dry cleaners had same hours as hard working New Yorker and are closed on Sunday. A need for dry cleaner that can be operated at any time which is not available in the market. This was Mr. Hennessy’s entrepreneurial motivations for founding DashLocker. This type of business brought into the market with no competitors a high-tech laundry service, round the clock dry cleaning, wash, and fold service. DashLocker started at Manhattan, New York as a new technology and benefit to the society. These are the reasons for Mr. Hennessy’s entrepreneurial motivations.
3. What type of entrepreneurial opportunity did Hennessy identify, and how did he capitalize on those …show more content…
Now, these lockers are installed anywhere which include apartment buildings, parking garages and gyms. Mr. Hennessy talked about his intention to expand the business to include shoe shining to kiosks system and delivery to customers.
5. Describe Dash Locker’s competitive advantage.
Mr. Hennessy’s business, Dash Locker, has a great competitive advantage in New York market. People can drop off and pick up their laundry after job. They only should register their credit card online and then they can access to the lockers. They will receive message within 24 hours from the drop off time to inform them that their clothes are ready for pick up. Regular coin operated laundromats are the only competitors but Dash Locker has more advantage over it.
6. What impact does Dash Locker have on society?
Dash Locker has a great impact on the society. Dash Locker is open round the clock while laundromat have specific hours of operation. In addition, Dash Locker offers to the customers dry cleaning. The best advantage about Dash Locker is the time. As a customer, the time from clothes drop off to pick up is within 24 hours. You will be notified by either an e-mail or a text when your clothes are ready to be pick
1. How did Hennessy’s background prepare him for starting a business? What entrepreneurial qualities does he embody? Mr. Hennessy prior to start his business, laundromat, he pursued banking as a research analyst at a New York hedge fund for two years. His previous work helped him to be ready to start a business with high-tech laundry service. He learned about and research how to run and open a high-tech laundry service. The entrepreneurial qualities that Mr. Robert Hennessy would have:
1- Forward looking: he identified the potential need for laundry service as it addresses the need of the people and the projected growth in the venture.
2- Innovative: Mr. Hennessy progressed with technology. He grew his business to attract …show more content…
He provided superior and advanced at a relatively cheap price. In addition to that, Mr. Hennessy addressed the issues in payment and safety of customer’s goods. This helped in bringing additional customers to the company.
4- Passionate: He was passionate chasing his business dream. Mr. Hennessy wanted to grow his business in the corporate world. This was obvious from the developments the company’s operations.
2. What were Hennessy’s entrepreneurial motivations for founding DashLocker?
The dry cleaners had same hours as hard working New Yorker and are closed on Sunday. A need for dry cleaner that can be operated at any time which is not available in the market. This was Mr. Hennessy’s entrepreneurial motivations for founding DashLocker. This type of business brought into the market with no competitors a high-tech laundry service, round the clock dry cleaning, wash, and fold service. DashLocker started at Manhattan, New York as a new technology and benefit to the society. These are the reasons for Mr. Hennessy’s entrepreneurial motivations.
3. What type of entrepreneurial opportunity did Hennessy identify, and how did he capitalize on those …show more content…
Now, these lockers are installed anywhere which include apartment buildings, parking garages and gyms. Mr. Hennessy talked about his intention to expand the business to include shoe shining to kiosks system and delivery to customers.
5. Describe Dash Locker’s competitive advantage.
Mr. Hennessy’s business, Dash Locker, has a great competitive advantage in New York market. People can drop off and pick up their laundry after job. They only should register their credit card online and then they can access to the lockers. They will receive message within 24 hours from the drop off time to inform them that their clothes are ready for pick up. Regular coin operated laundromats are the only competitors but Dash Locker has more advantage over it.
6. What impact does Dash Locker have on society?
Dash Locker has a great impact on the society. Dash Locker is open round the clock while laundromat have specific hours of operation. In addition, Dash Locker offers to the customers dry cleaning. The best advantage about Dash Locker is the time. As a customer, the time from clothes drop off to pick up is within 24 hours. You will be notified by either an e-mail or a text when your clothes are ready to be pick