Venture Concept 24A

Bryce Ballard

ENT 3003 | Venture Concept 24A



Opportunity

The opportunity that I will be seeking to exploit is based around helping nonprofit organizations receive donations in a streamlined process while helping those donating the goods save time and effort. Nonprofit organizations frequently need more donations to help the community and are often asking for donations. Many people would like to help the community with their unused goods and products, but they simply do not have the time in their busy schedules. This means there is a mutual desire to help on both sides but a streamlined process to help all parties involved does not exist. This is where the opportunity exists and why Waste to Grace could be the perfect solution as a streamlined platform to help all involved.

The forces that have created this environment are mainly technology and the ever-increasing business of life that most people face. Technology has opened the door for more communication and location sharing opportunities that could allow for a platform like this to exist. Additionally, many people like to help others and do good for the community. However, people are simply too busy to drive to locations to donate goods. This creates an opportunity for organizations to come to pick up the goods that would like to receive. This market could be widespread across the United States. However, this venture will focus on starting in the Ocala and Gainesville market. Demographically, middle to upper class residents will be targeted for donations. The window of opportunity should remain open unless a different company were to create a similar platform that took on this market and was able to exploit the opportunity first.

Innovation

This platform would be incrementally innovative. It would use technology that is already available like direct messaging, location services, posting pictures, and advertisements. First, nonprofit organizations must sign up on the website. They must verify that they are a nonprofit organization and then they can be a part of the platform to view donation items in their area. Residents with donation items will simply have to sign up on the app with their information and then they can take pictures of the items they would like to donate with a short description. They will then post it to the platform for all organizations to see. The nonprofits can then request to pick up the goods. After they have been claimed the item is marked as donated and taken off the platform. Businesses will also be able to sign up to donate their perishable food items. They will be able to post on a separate section of the sight with their food items. These items are always in high demand and again nonprofits will be able to select the items and go pick them up. Businesses will also be able to keep track of the goods that they donate and be able to write them off as tax deductible.

Waste to Grace will attempt to a self-funded platform by selling advertisements and post requests for items that they need currently need. Advertisements will be sold at prices based on app and website traffic. Nonprofit organizations will also be able to pay for slots that will request certain items that they need. They can also pay for alerts that will go out to those with the app for certain items that they need currently. This will create revenue to self-fund the platform.

Venture Concept

The innovation that Waste to Grace brings will satisfy the needs of the market by providing a better way for both the organizations and those donating the goods. Both organizations and people making donations will use the Waste to Grace platform because it offers an easier way to donate goods and a streamlined process with less time involved and less items wasted. The cost per user ratio should not be very high, somewhere in the realm of 15 cents per customer, since organizations will encourage their community naturally to be involved in the platform since it helps out all sides. The only competitors would be if organizations already have deals in place regarding how they receive their donations (most do not). Other factors of competition would result if someone else tried to start a similar platform to directly compete for the advertising dollars. Price points and packaging do not play much of a role although advertising does. Waste to Grace will build a network of organizations, residents, and businesses in the Ocala and Gainesville area to be able to build a starting point. This will take sales and marketing to build the data base, but as more national organizations are involved, the concept will spread rapidly. Waste to Grace will need minimal employees. I will run much of the marketing and sales aspect to grow the platform and I will hire a service to create the app and website to house the platform.

Three Minor Elements

The most important resource that my company has will be the passion for helping others that Waste to Grace will foster as well as the convenience of the platform being backed by large national organizations. I have personal experience in humanitarian efforts and will be able to facilitate the company in a fashion that brings joy and help to many people. The venture will look to move to a national scale mainly by utilizing the infrastructure already created by the national organizations. The next step will be creating contracts with the large organizations to become a partner to bring more goods to those in need. Lastly, if this was my first venture I would want to stay involved and lead the company. This would be a venture that could help a lot of people and make a big difference in the community and even the nation. I would work to grow the company and help thousands of people along the way.