Opportunity:
With the growth of modern day online shopping consumers have found it easier than ever to buy packages and ship them to their homes. But within this modern day shopping Renaissance there lies a problem. Packages which are shipped to homes are often left unguarded and in plain sight for any thief that happens by. There is a huge opportunity for a product that can reliably keep your packages safe and out of sight of anyone who passes by your house. Consumers who regularly buy packages online have this need for security. This market is defined by homeowners who have packages sent to their homes and live in either urban or suburban areas. This opportunity will exist so long as their are unguarded packages being delivered to homes. Customers currently have few options to satisfy this need other than having packages not delivered without a signature or having a mailman hide the package. Consumers are not very loyal to this option and are looking for a change.
Innovation:
This product would be a secure containers capable of receiving mail or packages that have been shipped to you. Unlike a standard mailbox, this product would allow mail to be placed in but not taken out until unlocked by the owner. Built into these devices would include hardware which would monitor when the product has been delivered. This would give total privacy and security to your mail and packages that you have shipped to you. There would be three sizes made available for small, medium and large packages. I would be selling these products for $50, $100, and $200 respectively. Customers could then further personalize their product by picking a color scheme. Along with the customization aspects, customers could subscribe to a monthly service which would send text and email alerts to their phone when the package has been delivered. This service would charge $4.99 per month.
Venture Concept
Customers will want this product for the security it provides them. When online shopping many people may not purchase an expensive item for fear that it may be stolen before they can receive it. This also allows people to order products that would be delivered during the work week which they could otherwise not do. The business that grows from this product will be structured around the sales of this product. The service fee for subscription members would also provide a diversified and lasting revenue pool. I would start with only a few employees for sales and have the product produced elsewhere to minimize initial start up capital. The product would be heavily featured and targeted towards online shoppers. These shoppers would be directed towards the website for the company where information on the product could be found and potential buyers can customize the product to their needs. Major competitors include Amazon with their new unlocking doors to have products delivered inside your home. This is not a well received idea by many due to privacy concerns. Switching to my product will be easy as it will essentially replace the mailbox outside the home. After ordering the product it would be delivered and set up outside the home. Packaging on this product will be for the purpose of protecting it during transport and the price will cover the production and distribution of the item.
Three minor points
My firms secret sauce will be the peace of mind my product affords the consumer. Other products just can't match the reliability of my product and peace of mind it provides.
The next venture for this product may include surveillance for the home. This would pair well with a security device for your mail as you would have even more protection over your goods.
In five years I'd like to be selling this product to Amazon. After this I would start on my company seizing a new opportunity in the market.
Feedback
After the first venture concept I received a lot of great feedback about my product. It was suggested that I diversify the income streams of my company. This was something I hadn't thought much about but providing a subscription fee for added information on your product seemed like a great place to start.
Another point that was made was the need for more customization of the product. Online consumers who I would be targeting can be very picky so I decided to give them the tools to make the product to their satisfaction. I gave them the power to customize the product to find not only the right size, but the right color to match their home. Hopefully these changes will entice more of the market into buying the product.
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