Tuesday, April 3, 2018

24A- Venture Concept 1


Opportunity

After talking to many people and assessing the information I discovered, I concluded there is a need to create a way to prevent sand from sticking to the skin of people when attending the beach.  Sand can be irritating on the skin and can also act as a nuisance by getting I the car after leaving the beach.  There are many places located near the beach, but my original target market would include most Florida residents but mainly adults specifically parents located near beaches.    The target customers would be adults both male and female as they are the ones most likely to go to the beach and have an unmet need that needs to be solved.  As I mentioned, this need is best suitable for people who live near a beach and frequently go to the beach.  This opportunity to solve the need is moderately big.  If I were to create a product and put a patent on it so it could not be copied I could successfully sell the product with a large window because it would be useful and not be able to replicated by competitors.



Innovation

To satisfy these needs I came up with the idea of creating a spray on product that would be used at the beach to prevent sand from sticking to the skin.  I have no experience creating such a product, so all started as an idea.  This product would be most useful for people located near the beach.   The use of this product may allow for adults who previously did not enjoy going to the beach a chance to attend the beach without and preventing sand as a negative factor.  This sand repellant product would be sprayed on multiple times while at the beach.  The reapplication of this product would continuously prevent sand from sticking creating an overall better experience for the consumers.  This sand repellant product could be sold online or to convenience stores such as Walgreens or CVS which could then be sold to customers.  Bundling this product with sunscreen would be a smart tactic because people who attend the beach need sunscreen.  Selling this sand repellant spray with sunscreen would increase awareness of the product and allow people to solve the need of sun protection and sand prevention.  At this time, I do not know how much it would cost to sell this product, but I would like to say in the $15-$20 range.  This price would be for a spray can about the size of the typical size of a spray can of sunscreen.



Venture Concept

To prevent sand from sticking to the skin people use convenient beach showers and towels but neither get the job completely done.  A sand repellent spray on product would be unique and help solve the need for a solution that sand creates.  This product would solve an unmet need which is why consumers would purchase it.  This innovation would not be too expensive and allow for adults to purchase the product and receiving something that works as described.  I think customers would switch to this product because the use of towels and showers does not get the job completely done.  Towels get some of the sand off and showers can get some off as well hut there is always a residue leftover.  The use of this product would get the job done better which is why consumers would switch to it.  Competitors would be potential sellers with sand repellent products.  For example, there are companies that sell sand repellent towels.  These sand repellent towels may be purchased and used to wipe away sand off the skin.  Additionally, a weakness or vulnerability of this product may be production.  I do not know how much it would cost to create this product this could affect the price and quality of packaging.  The packaging would have to be appealing for customers to buy.  Also, price is important because if it is too expensive customers may not want to purchase it and could result in using other things such as beach towels and beach showers.  This business would not have many employees.  Ideally, this product could be produced and sold directly online or to convenience stores.  Limiting the number of employees could lead to more profits to be made. 



What you think your most important resource will be.

I think my most important resource is   knowledge that who you know sometimes outweighs what you know.  Networking and building connections are extremely important when starting a business.  I may have a large depth of information but still can use help from others to succeed.  Being able to understand to continue to network and make connections can be a very important resource to have.



What’s next for the venture?

I would like to eventually be able to combine the sand repellant spray with sunscreen.  Combining these two things would solve two needs with a single product.  This would be unique and allow customers to solve multiple needs.



What’s next for you?

I would like to see exposure of the product and know that customers understand how it solves a need and buy and use the product for its intended purpose.  Having a successful idea that can solve customer needs is the goal for many entrepreneurs.  Having a successful product would allow for me to increased promotion and ability to try and extend the product line to other products that are relatable.

3 comments:

  1. Whatsup Max,
    I agree with you that there is no current way to actually prevent sand from sticking to you when going to the beach. Having lived in Fort Lauderdale, whenever I went to the beach the towels and tiny showers they had just didn't cut it for getting the sand off when having spent a long day at the beach and god forbid I enter the water. I think there is definitely an opportunity for your product and that it fills an unmet need of the public.

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  2. Hey Max,
    I completely agree with what you wrote in your most important resource section. In business, who you know is much more important than what you know, especially when starting a business from scratch. I also like how you are thinking ahead yet focusing on your current product. It is always good to have a vision for your product’s future but you should still focus on the task at hand.

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  3. Hello!
    I enjoyed reading your post because, as I've stated on other posts, I really like the idea of your product and hope it enters the market someday. I also like the fact that you posted sand repellant towels as competitors. Similar to what you wrote in one of the recent assignments, I still agree with what you're saying regarding the people you know. Overall, nice post!

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