BUSINESS MODEL CANVAS 2.0

 

MetroHandle is a company who has developed a product that will allow commuters of public transportation to experience a clean, germ-free commute. With an easy click and go attachment, MetroHandle hooks onto any rail or public transport pole, eliminating direct contact, to protect you from harmful bacteria and potential viruses. 

• Key Partners:

Per my research there seems to be interest from clothing brands/firms to collaborate. The reaction was very pleasant as people liked the idea. It seemed as a good sticking point for firms that havent gotten their employees to come back yet create an even safer feeling for their employees. The goal of this is to spread awareness as to what MetroHandle is. Since the product is a new sector it’s hard to just create a new market. The greater the exposure the greater results we will have. Some of the key partners I want to be eager to partner with are “Supreme” & “Serhant”. One is a clothing company who has a very large following that started its NYC base clientele. Serhant is a very well known NYC real estate firm who can provide this product as goodies to their customers as well as their agents because most of them are commuting all day on the subways throughout the whole city. As well as partnering with the MTA. 

• Key Activities: 

In order to create the closest customer relationship the best way to do so is to participate in activities that take place in the heart of where this product will be used. Therefore, participating in key activities with the MTA would be ideal for Metrohandle. Our companies both have that same goal, the MTA ridership status has been down 70% since the pandemic started. In other words, if the MTA is able to create a safer feeling for their customers then their ridership will increase. That’s where Metrohandle comes into play and creates that safer feeling for the MTA commuters. Creating campaigns with MetroHandle is an activity that is super important and should be done. 

• Key Resources: 

There are a ton of key resources that MetroHandles needs to use. One of the resources is being able to partner with different companies/organizations in order to get the product out there. For example, when a big NYC Firm goes back to their offices with hundreds of workers we would like to collaborate in efforts to create a safer and easier time for their workers to commute. Another key resource is that MetroHandle is patent pending on both a design and utility patent which will protect MetroHandle in the long run. These patents will allow MetroHandle to create its own special design and use. 

• Value Proposition:

We provide a hygienic product for our everyday commuters on the NYC subways that can keep our customers protected from viruses and germs. They will never have to touch dirty poles again. We designed our product small enough and easy to fit in your back pocket and you would never even know it’s there. It also provides a sturdy commute when traveling “standing up” on a metro it can get very bumpy and shaky giving the customer a very steady commute with the sticky grip on the top of our handle. 

• Customer Relationship:

Our goal as a company is to create a customer relationship with each and every one of the customers. We want to maintain this relationship and for the customers’ family and friends to become our customers as well from the good recommendation that they can provide. The product we are selling is a customer assistance product which means our product will create a relationship that will constantly be valued as an assistance to their public transit commute. We made sure to have a lifetime warranty on our product  in order to ensure that we are covering a long term relationship with our customers. 

• Channels:

There are several ways that our customer channels will reach them. One of the ways that we wanted to reach our customers is creating a viral campaign, leaving hundreds of hanging MetroHandles all over the public transit with links to our website.  As well as partnering with large corporations and brands. This is the first phase of the channels creating awareness of the product. The second phase is showing our customer the value proposition in our product which can be done so by partnering on a campaign with the MTA to show the benefits of what MetroHandle has to provide. As well as creating a nice 60 second video that will be linked as well to the MetroHandle that are hanging on the subways as it will give the points of what it is used for, how it is used, and why to use it. The third customer channel is how our customers purchase the product. The best way for us to have our customers buy the product is via online e-com. We have our own website that has special bundle deals. Another way they can buy it is in the bodega stores inside of the subway stations. This can be a great selling point. The fourth phase is delivering our value proposition to the customers. This will be done via shipping directly to the customer. They will be shipped in small baggies that are included in your purchase for free in order to have an easy carrying case for the MetroHandle. Finally, the fifth phase is how our customers will have post-purchase assistance. We made it super easy, just go to our direct page on our website and email us for any assistance that is needed within 48 hours they will have a response!

• Customer Segments:

With our product we are creating a new market idea. Meaning that there is no real market for it right now. This allows us to create a very niche market. We will target specifically all NYC based commuters that travel on subways. The reason for this specifically is because NY is known for having one of the most filthy public transportation ever and we believe that this product will directly relate to that specific niche market best. We can then expand to a greater market later on when the company picks up other places like Chicago, San Diego, London, Barcelona, and many other cities that have public transit like NYC does. We believe that we are creating the most value to that specific niche of people and have included all commuter based necessities like easy to carry, easy to clean, and easy to use!

• Cost Structure:

The most important cost inherent to our business model is to have the capital for viral campaigns and marketing. Without marketing our product is worthless, since there is no generic market for this product, marketing is going to be the most cost heavy aspect to our business model. The resources can get costly when it comes to ordering thousands of MetroHandles in collaborations with partners we want to get. As well as the activities, we want to run campaigns with the MTA which is a real deal marketing campaign and could cost a lot of capital. Our cost structure for the actual product is a variable cost due to the fact that we import the product so there can be a slight variation with the supply chain structure struggles. The company is more value driven but still wants to create a cost friendly product.

• Revenue Streams:

There is no other product like ours out on the market giving us the ability to price competitively without a problem although we would like to keep the cost as friendly as possible for our customers. Each revenue stream will create its own niche that will slowly build the business as a whole. I believe one of our strongest means of revenue will be via collaboration. In addition to the fact that there is no other product like ours on the market it will be up to us to decide what value our customer puts on this product and can create a price structure accordingly. Our company only takes payment form via online credit card unless the customer has bought it from a kiosk at the NYC subways they can pay however is accepted to their terms. From the research that was done, most customers are willing to pay up 15$ for the product. This makes it easier for us to price the product from the feedback that was given.