Opportunity
When it comes to dog products, most people have basic
items: a leash, a collar, and a roll of poop bags. These items are common to
have for people so they may take their dogs to dog parks and other public
areas. When people have yards, they often let their dog(s) loose in the
backyard, allowing for their dog to take their time sniffing around to find the
ideal place for their business. Not all people have the luxury of a fenced-in yard,
therefore they must walk their dog through the neighborhood. While walking the
dog, people often would like to have entertainment by using their phones. Using
the phone requires two hands, but when the dog does its business in someone’s yard,
it is the owner’s responsibility to ensure the business is picked up. No one
enjoys holding dog poop bags. The bag is warm and mushy. It is entirely an unpleasant
experience. There should be a way to solve this problem with a product.
With increasing awareness of health, people choose to walk their
dogs rather than let their dogs loose in the backyard. Walking the dog every
day is a great way to ensure the dog keeps in shape and helps the human feel
happier as exercise helps the mind and body. Spending time with the dog,
watching the dog’s excitement as he/she sniffs new smells is joyful. Therefore,
not only do people without backyards need something to hold the dog poop with,
people who choose to exercise their dogs in public and residential areas also
feel need something to hold the poop bags.
Social media users enjoy showing off their pets and the
newest, cutest outfits the dog is modeling. People also enjoy matching outfits/accessories
with their dogs. There is a demand for matching accessories for dogs and their
owners. This opportunity is large.
These opportunities presented are always existing as long as
people have dogs.
Currently, people often throw their dog poop bags in trash
cans when they are in dog parks. When in front of apartment complexes near The University of Florida, people leave the poop on the sidewalk edges and in the
grass. When people are in neighborhoods and care about being responsible, they
pick up their dog’s poop in bags and hold the bags until they get back home to
their own trusty trash can. As for matching, people tend to stick with giving
their dogs cute outfits and suffering as they cannot match their dog’s cute
outfit.
Innovation
I propose a pet product line which would feature innovative
pet products to better address the demand of pet owners. This pet line would
include the Poop Pocket: a bag which may clip on to a belt loop or the leash, and
be used to hold the bag of poop while the person walks their dog, allowing for
a free hand for the human during their walk. Additionally, there would be a
line of collars, harnesses, and leashes in XS, S, M, L, XL which will have
matching colors and patterns to the human version of accessories, including bandanas,
silk scarfs, and t-shirts (which would both have a cute logo of the company on them).
The products would be sold online, directly from the
manufacturer. It would also be sold to retailers such as groomers, PetSmart,
Petco, and Pet Supermarket.
The Manufacturer’s Suggested Retail Price (MSRP) for a
collar would be $9.99-$12.99, depending on the size selected. The MSRP for the
harness would be $22.99-$25.99. The MSRP for the leash would be $14.99. The MSRP
for the Poop Pocket would be $13.99. The MSRP for the bandana would be $9.99. The
MSRP for the silk scarf would be $12.99. The MSRP for the t-shirts would be
$19.99. With a purchase of $25, there would be free shipping to anywhere in the
US.
Venture Concept
The competitors for a line of pet products such as this
would include MeUndies because they have matching bandanas for the owners and dogs
called “BuddyBands”. From the looks of their website, MeUndies isn’t very
successful with their BuddyBand line because it isn’t easy to get to that part
of their website. It is certainly not where they are getting their money from. No
one is selling a Poop Pocket or anything remotely similar. There are keychains with
the empty poop bag rolls on them, but no one has touched the full poop bag problem
yet. Other manufacturers of pet leashes and harnesses and collars would be a
part of the competition.
The weak point of the pet collar, leash, and harness
producer is their dependence on brick and mortar stores. Additionally, they do
not reach the consumer directly. They depend on other businesses to do the
selling work for them. Because of this, they do not earn the profit they could
earn if they went direct to the consumer. My pet product line sold directly to the
consumer would be more profitable than the other manufacturers, and I would also
be selling the products to the same stores if they allowed me to. My products
would be American Made, enabling for better branding and reputation and
quality.
The business would manufacture the products and would be
able to grow with demand. There would be data collected from purchases to
determine what sizes sell the most and adjust to make more of the popular sizes
and less of the unpopular sizes. Through this innovative way of adjusting the market,
my business would have an advantage.
Final Thoughts
The most important resource would be having a head start in
manufacturing and is the first one on the market. Through brand name
recognition and American-made reputation, the quality products produced would
be worth the extra money. This would build customer loyalty.
The next venture I would pursue would be mass producing face
masks. Sure, the demand would not last much longer as high as it is now, but I
believe people will gain an urgency to keep an emergency quarantine pack.
[You can stop reading here because after this, I am going over the 1,000-word limit and you're not obligated to read more than 1,000 words.]
In five years
after the launch of the functioning website, I would hope to have a section of
the site of dog training videos and have a famous dog trainer be featured on
the website, talking about how great each product is and add validity and
expertise to how the products are superior to that of other brands. As an
entrepreneur, I hope to be able to come up with better ways to manage rental properties
from the application process to the end.