24A: Venture Concept No. 1

Opportunity:

Everyone has an unmet need for alternatives to plastic. Out of all of the people I interviewed, everyone said they had an unmet need for alternatives to plastic. Most grocery stores use plastic, but do have the option of paper bags. If you do research on plastic, you'll find that it can take over a thousand years to decompose. I feel like a lot of people are either uneducated about the negative effects of plastic or just don't care about the environment. College students are on a budget and I want to sell reusable products that are reasonably priced. Plastic is so cheap, but it harms our environment. College students are always thinking of new ways to help our environment that's why I believe this is a great opportunity. My market is defined geographically all over the United States on college campuses. College students are between the ages of 18-25, male or female, some discretionary income, and enjoy socializing, exercising, and binging on Netflix. 

The environment is harmed by the effects of plastic and is damaging our Earth. There is so much plastic in the ocean that animals are mistaking it for food. Plastic also cause health problems for humans because there are toxic chemicals in the plastic that leaches into our bodies which can cause serious health problems. I know a few people who are using alternatives to plastic and they are loyal customers. This is a huge opportunity because plastic is being banned in some states now and soon there won't be any more plastic (hopefully). I believe the "window of opportunity" will be open for years down the line. Plastic has harmed our Earth and oceans for a long time and I believe we can eventually get rid of plastic to save our planet. 

Innovation:
The products that I am going to sell are reusable products such as reusable water bottles, reusable grocery bags, and metal straws with college logos on them. Each product will be priced differently based on what the product is. Reusable water bottles will run for $7, reusable grocery bags for $5 and metal straws for $3. I believe these are reasonable prices and since they are reusable they will last a long time. They will also have the universities logo on them so that is a way I can have college students promote for me. Of course, I will also have my company's logo on each product. If these three products are successful, I will create new products with college logos on them.

Venture Concept:
My idea of an organization on college campuses that will promote alternatives to plastic and sell them too with college logos on them addresses the opportunity of decreasing the use of plastic and increasing the use of alternatives to plastic. I believe customers will buy my product because it is priced reasonably and it is in an easily accessible location for my target audience. I believe customers would switch from plastic to my products because they are unique and they are eye-catching. I don't think it will be too hard to get them to switch after I tell them the negative effects of using plastic. Some people are uneducated about the negative effects on plastic on human health and our environment, that once they know, they will be interested in buying. I don't believe there are any competitors right now on campus. There are competitors who sell reusable water bottles and reusable grocery bags with college logos on them, but I have the advantage of selling on college campuses. If I do decide to expand outside of college campuses, then I will have more competition, but I will have more expertise in the market.

Regarding packaging, my products will be packaged in cardboard boxes in bulk. I will not individually package these products because I don't think there is a need. My products will be displayed at booths on all college campuses and will be sold to college students. If I see an opportunity to expand outside of college campuses, I will begin selling them to sports bars. I was recently at a sports bar and someone came in and sold reusable bottles with college logos on them and the customers were ecstatic and were buying them up. If I were to sell to sports bars, I would raise my prices to $10 for a reusable water bottle, $7 for reusable grocery bags, and metal straws I would keep the same at $3. My target audience would expand, and I would be able to raise my prices because I would be targeting older people with higher income and discretionary income to spend on nonessential things.

If I were to start this business, I would travel to different college campuses to promote my product. Then, I would start hiring and training people so that they could promote and sell my product for me. I would also need someone in charge of inventory and storage. Eventually, I would want to open up my own office and start a marketing and training program that would prepare people for success in the field. Employees would have the role of selling, marketing, and attending meetings.

Three Minor Elements:
1. My most important resource will be my expertise in sales. I have expertise in sales that will help me kickstart this company. I know how to sell to people successfully and I believe that is key in this business plan.
2. What's next for my venture is actually implementing my plan and getting in one of the college campuses to start my business. Once I do that, I want to start hiring and training.
3. In five years, I want to have my own office and have expanded to at least 20 college campuses. In 10 years, I want to have expanded to 50 college campuses. I want to be the CEO of my company and train other people to be successful like me.