24 A

24A



Opportunity

·        New environmental protection movements have brought to light how environmentally damaging plastic is to our ecosystems, especially our oceans. The single use plastics are the greatest under fire because they are disposed of in great numbers and do not decompose, thus leaving trash to pollute the oceans and lands.

·        After a video emerged of a sea turtle having a straw stuck in its nostril, the push to stop the use of plastic straws was born. It began with the policy of not giving out straws unless asked, then to straw-less cups, and finally some cities have completely banned the distribution of plastic straws by restaurants and other straw serving establishments. With this came the implementation of paper straws in every restaurant, coffee shop, bar, and gas station. Paper straws were simply awful. They disintegrate in your drink and become limp and unable to bring drink through.

·        The need is a single use straw that falls within the city plastic straw band and satisfies customers without financially straining business owners.

·        The forces that allowed me to take advantage of this opportunity is the high price of reusable straws, the damage single use plastic does on the environment, the ban of plastic straws, and the unsatisfactory experience paper straws produce.

·        The market is quite large. It encompasses all businesses who serve straws in cities with plastic straw bans as well as any business owners who have personal environmental ideals.

·        Currently customers needs are not being met. Of all my interviews, every single individual was not satisfied with the new paper straw replacement. Also, they were unhappy with the current substitutes, all of which are reusable and at the extra cost of the customer not the provider.

·        The opportunity is quite large. The policy will only spread and it is only a matter of time before it is in every city around the country. Thus the opportunity is going to grow. And, the window of opportunity will be open but it is only a matter of time before another entrepreneur discovers the need as well.

Innovation

·        I am offering a bamboo straw that is produced on a mass level and thin density. By having it be single use it is falling within the group of what customers are looking for because it is provided by the business. It is also a durable straw that will not disintegrate in the drink, as well as being biodegradable and environmentally friendly.

·        The product I am offering is unique because of its competitive price point, policy compliance, and customer satisfaction.

·        Straws will be sold wholesale to businesses that serve drinks. Currently wrapped paper straws sell for $45-$50 a case with 3,000-3,500 straws a case. My product, bamboo straws, will be sold unwrapped for $40-$48 a case with 3,2000 straws a case.

·        I will initially begin by offering sample boxes to my potential buyers and let the product speak for itself. Additionally, I would begin with offering free shipping and other promotional offers to win business. Another idea would be to market them as policy compliant.

·        I plan to start with the bar business in Gainesville because they are withing the plastic straw ban and have heavy business every weekend night.

Venture Concepts

·        Customers, in this case businesses, will switch to my product because it is a competitive price while improving customer satisfaction. Businesses are required to follow city guidelines or face a fine that will put financial strain on their profits. Additionally, they are going to go with the cheapest option, as it will minimize their cost. They would switch to my option only if it improves customer satisfaction while not impeding on their profit.

·        Bars would buy in order to generate new business for their better paper products. A vodka cranberry tastes the same everywhere, but a bar that has a straw that lets you finish your drink before it disintegrates or breaks in half. Bamboo straws eliminate the possibility of tasting paper in your drink.

·        The only competitors are paper which is what my product is trying to substitute. I am certain that with a competitive price my product will be more durable.

Price Points

·        This is very important. Because businesses care more about profit than customer satisfaction the product cannot impede on a business’s profit or they will not purchase it. In order to be successful I need to have a price similar to paper straws.

Distribution

·        Businesses will be able to order online and have straws shipped directly to their establishment just as they would with any other paper good. In the long run I hope to gain enough popularity that companies that service restaurants would carry me in their stores and in their catalogs. This however would not be the distribution initially.

Customer Service

·        I hope to have the team built to meet customer needs and offer them coupons and discounts for customer loyalty.

·        My team would be around 2-3 people and we would operate out of my home.

Unfair advantage

·        My unfair advantage in this venture is that I have a passion for everything I am involved in. I never quit and face obstacles head on in order to succeed. This will benefit my business because it will allow me to not be discouraged by failure, but to keep trying.

Whats next

·        After what is hopefully a successful launch of the bamboo straw, there could be a line of bamboo utensils in order to eliminate single-use plastic utensils from polluting our ecosystems as well. This would likely occur in the far future.

What’s Next for me

·        I want to be on the front lines of policy change that can protect our environment. I hope that in the next 5 years, Florida can join Hawaii and other states who have banned single-use plastics statewide in all capacities. I want to be involved in making a change for good. In protecting our environment from the substances we created and abuse.