Ido Denti

“Bagee”

Business Model Canvas

            My Venture opportunity is called “Bagee”. Bagee is a product designed to help and ease with the process of carrying groceries from point A to B. The problem we are trying to solve is the hassle and pains created with dozens of grocery bags leading to countless back and forth trips. With Bagee our goal is to cut these trips down and carry the hassle and pain of those dozens of trips away.

  1. Customer Segments
    1. The customers that we are targeting, and feel would identify best with our product include any customers that have a hassle carrying groceries. The customers include people living in multi floor building, Elderly, anyone who lacks ability to make multiple trips. We are looking at two main groups in this profile, the younger generation (Gen z + Gen Y) as they are always looking for shortcuts and hassle-free solutions. The second profile we are looking at is the elderly generation as they experience the problem and hassle of many grocery trips taking a toll on their body and muscles.
  2. Customer Relationships
    1. It is our belief that our product is self-explanatory in its usage. Due to this belief, we will be implementing a self-service customer relationship. We will provide all the information about the usage of our product through detailed videos available online and mini diagram booklets shipped with the product.
  3. Channels
    1. The channels that we plan to use in order to communicate with our Bagee community will consist mainly of new age platforms. We plan to use platforms such as reddit, discord, Facebook in order to communicate with our customers and review feedback. The platforms will allow us to connect to a younger generation as those are the main users of the platforms. In addition to these platforms in order to target the older generations that may have use for our product we can  advertise on subway and busses as any older generations on those platforms will have great use for our product in order to ease the hassle of carrying grocery bags.
  4. Revenue Streams
    1. Our revenue model consists of a transaction- based revenue model. We are supplying a physical product (the Bagee) and will be offering the product in exchange for a one-time payment.
  5. Key Activities
    1. The key activities that we will need to implement begin with targeting our market. We will do this by giving out promotional Bagees in areas such as cities or elderly communities.  Another key activity will be by generating brand awareness and feedback which may be done by running a promotion in our key target communities which offer our product in exchange for joining our customer relationship platforms and leaving feedback on the product.
  6. Key Resources
    1. The 3 main key resources that we will need are: Financial- we will need cash flow in order to manufacture our product. Intellectual- We will need to establish a patent in order to protect our simple yet unique idea with over saturating the market. Physical- We will need a space to house our inventory and run shipping from.
  7. Key Partners
    1. There a many key partners to which we can reach out to. These all consist of large supermarket chains as many people tend to leave with large amounts of bags which need to be carried. The key partner we have been looking at specially will be “Key foods” as they are a very large supermarket chain whose clientele consist of a diverse setting.
  8. Cost Structure
    1. The cost structures involved in our product venture are quite minimal. Through the research I have conducted on manufacturing the product I believe it would be estimated at roughly $1.50/ piece. The shipping of our product across the entire United States is roughly $2.00 which will be paid for by customers at checkout. We will not start with acquiring a space to store the product as it is costly, and a basement or garage will work just as well in or our early stages. As for our sales methods we will be starting with a shopify platform priced at roughly 50$ a month. Our startup cost on the product is very low and therefore bears minimum risk. Our one true cost per product will be the $1.50 manufacturing cost. Therefore, I believe pricing the product at $9.99 and turning a $8.49 profit per product (566%) is a likeable investment.
  9. Value Proposition
    1. Our current value proposition is a combination of price and differentiation. There are many products such as ours which help carry grocery bags currently available on the market but what we will be adding is a price which compares lower to   any of the same use products currently in the market averaging at about $40.00. as well as different, our product allows for a sleek and compactable design that is easy to carry and store unlike what is currently available on the market which is  saturated with forms of grocery strollers.