24AVenture Concept NO. 1

Assignment 24A- Venture Concept No.1                                                                      

Opportunity:

·         Some people are allergic to chemical agents or one of the many fragrances in different types of soap.  Some of the soaps dispensed in public restroom has too much alcohol content which causes dry hands. In addition to the allergies and side effects of certain types of soap, a big frustration for many, is to walk into a public restroom and the soap dispensers are out of soap.  The alternative is to use hand sanitizer. However, sanitizers don’t clean germs entirely. In order to reap the max benefit from sanitizer is to use those that contain 60% or more content of alcohol. 

·         The need is to be able to properly wash your hands without having reactions to the agents in the soap and to have soap at your reach when you need it wherever you are.

·         The forces that drive this need is the lack of inventory supply for soap in the restroom, the fact there is not many organic soaps that moisturize while cleaning the hands without harsh chemicals and fragrances.  Until each need is met, the opportunity remains. I have interviewed many people that stated that they carry little travel size bottles filled with hand soap. One cannot completely prevent themselves from germs and bacteria. It is impossible to prevent allergic reactions entirely, it can be eliminated.  It is recommended to wash your hands at least every hour. This can cause severely dry hands. No one is satisfied with the current resolution for this situation.

·         Potential Customers: People who have sensitive skin, allergies and those who prefer clean moisturized hands after using a restroom. This is also for people that had the experience of using a public restroom only to find that there isn’t any soap in the dispenser. 

Innovation:

·         For consumers who are candidates for this opportunity, I am making mini travel size bottle similar to those of the hand sanitizer. Instead, it will contain a special hand soap formulated with natural ingredients and moisturizing agents that is hypo-allergenic. This eco-friendly soap will moisturize as it gently cleans the hands, leaving it soft and clean.  Soft and Clean organic moisturizing hand soap is the name of the product that cost as little as $2.00 for a 3oz bottle.

·          As a distributor for bigger companies with a larger budget, I will market and sell in bulk at a reasonable price.

·         Price points: A very important factor to consider. I don’t want to price the product at a ridiculous rate knowing that there is a need and I have to stay within reason like the cost of regular lotion and sanitizer to remain marketable.

·         Distribution: careful for the ideal consumers to guarantee motion. I would first distribute my supply to businesses like MaryKay and Avon to build a name for myself. I would do it at a discounted rate for the company’s. I don’t expect a lot of revenue during the startup of the business, I just want the world to know about my brand.

·         Customer service:  customer service is vital for the business so I plan on instilling the goals and values for my brand. I will ensure that all employees learn the logistics and knowledgeable About the product and how it benefits those in need.

·         Location: This product will be available online and through the two Multi-level marketing company like Avon and MaryKay.

·         Packaging: I will have a designer that will design a tasteful bottle that signifies the idea for the product. The label with identify all the ingredients for the product and the amount. It will also explain the use for it.

·         Employees: I plan on employing no more than 10 employees to build the foundation of the company.

o   Engineers to design the packaging

o   Health professionals to test the products

o   Chemist to formulate the product

o   Distributors

o   Marketers to market the product and its benefits

·         Unfair advantage: I have an opportunity that no one else is marketing yet. I have a marketing team that has a background in design for branding. I also have a connection in finance to help me budget the funds in order to budget while maximizing profit. Having these connections help my company be successful.

·         Whats next: I want to help those who have a need for clean and moisturized hands without the allergic reactions. I want people to not have to depend solely on hand sanitizer as it doesn’t completely clean the hands.

·         For me: I’d like to make a profit while making life easier for those who struggle with allergies, sensitive skin, and OCD. In 5-10 years, I want to be like Nivea and Curel, but with a hand soap that is meek and mild.