The opportunity I selected capitalizes on the fastly growing pet service industry. I saw an opportunity in the pet service industry in the form of "monthly surprise boxes" subscription services shipped right to dog owners' doors. The opportunity I saw is that currently these existing services are only aimed at complete pup pamperers and not your everyday dog owner/lover. I aim to solve the problem that these boxes are not being shipped to all dog owners.
The Service to Capitalize on the Opportunity
The answer to this problem is to create a subscription box service very similar to the current boxes on the market. The difference, however, will exist in the content inside the boxes and the targeted audience. The main ideas of this service are represented in the following bulleted list:
- Subscription service for dogs only that ships boxes to consumers' doors monthly
- Offer a one, six, and twelve-month plan
- Fill the content of the box with fewer toys than typical boxes, and focus more on treats and necessities
- All the items in the box should be valuable to the dog owner and aren't overkill with the number of toys and items
- Beyond toys and treats, will also include things like grooming items and items to make traveling with your dog easier like pop-up bowls
- The boxes will be marketed to every dog owner, not just pamperers
- Make it clear that because we buy in bulk and ship directly to them, there is actually more value in each box than retail price
- Stress the importance of the time they're saving
- Make it clear that its affordable and can be used by your everyday dog owner
- Would be cheaper since its focused on necessities for the dog for the month
- Because the market is growing, there is still room for more competitors to companies like BarkBox
- Huge focus on quality control and customer service
Ben,
ReplyDeleteI think these are all really good ideas. Another idea I think that could work is if you make a deal where it is the cheapest for customers if they purchase a plan the first day the boxes start. I think since people think they'll be saving even more they'll be more likely to hop on earlier than later. Which can lead to them telling their friends how good the boxes are.
Hey Ben,
ReplyDeleteAs a current dog owner I have experienced the hassle of getting companies boxes with to many unuseful toys, and not enough treats or grooming brushes. I believe that their is a need that creates this economic opportunity, and that your solution of bulk boxes with all the necessitates for dogs could work forsure. In todays world, everyone is always rushing so if this business could save people time and money, I believe it would definitely work. Also, I like how you specifically focused on the quality of the products, why would people not want to buy top quality products at cheaper prices with no hassle. Great solution to the economic opportunity you saw.
Dear Ben,
ReplyDeleteI chose to read up on your opportunity because I remember how interested I was in reading about it originally because I had no idea that the pet service industry was growing so rapidly. I totally can appreciate the economic opportunity you have found here. The only things I am curious about is the quality control of the product. The first time there is lack of quality in the product will be the end of that current customer base.