29A-Venture Concept

Opportunity

The forces or changes in the environment are the changes in the food industry as far as people starting to care more about where their food is coming from and the treatment of animals. I also feel like over the years and the Earth population and pollution increasing, fresh vegetables maybe harder to get. I feel like the market would be made up of wealthier people who tend to have money to adjust their diet how they please. If you shop at whole foods and can get expensive organic foods you most likely have more money and time. Customers are currently meeting their needs by shopping at places that sell fresh vegetables or if they have the space, time, and conditions, they can plant a garden. They may be loyal to these practices but my garden would be cheaper and easier to manage. This opportunity is really not that big but with the right price point there might be a small niche I could make money in. I think this window of opportunity will continue to only get bigger. I feel that as people begin to flood the world and need more and more food people will start to look for alternative methods.

Innovation

Explain what it is, what it does, and how it works. You should also describe how you will make money – in other words, what, exactly, are you selling and for how much?

The product that I am offering is a hydropic garden that can be hooked up indoors and requires only water and occasional maintenance. It will have LED bulbs around it that should not use that much electricity and with farm a variety of vegetables. I will sell it for a higher price and make as much money compared to the price it cost to make. I will also sell attachments and customization so you can put it different places.

Venture Concept

I think that as cost rises for vegetables and organic ones that are non-genetically modified vegetables. This will turn people to produce their own food at some point. The competitors could be other hydroponic garden people or garden companies for normal outside gardening. I think that the weaknesses of other hydroponic garden companies can be very expensive and outside garden companies assume that the climate will not rise enough to kill plants. Their s not really a big thing that has to do with packaging because it will be more of an online view or in a retail home store like lows or home depot with the product already assembled. I think that my price point would be high ad number sold will be low. I think that customer support will help with assembling the product and possible returns. I would have few employees and their main purpose would be assembling the product and boxing it up. I would take most of the leadership position and keep the company small.

Three minor Elements

I believe that my most important resource will be the loyal people back in my home town who would not mind joining the mission of the company and understanding that the business has to get of the ground. The next thing for my venture is to sell the business as quick as possible but if no one wants to buy I hope to expand globally so people can grow foods in impoverished areas. In five years I want to be continuing to expand my customer data bade so I can grow my finances.

            Summary

The feedback that I received about my product is that I must be sure to keep the maintenance down and be sure to reach a market who would actually purchase the product and have time to garden. They also said that it was important to make sure that I can keep the cost down because the high price might scare customers away. I have decided to make sure I cater to people with the r=ability to purchase something can be that expensive and also to lower the price.