New Business Concept Semi-Finalists (P-Z)
Step-Open Toilet Lids
UpStaged - Concert Venue and Rehearsal Space
The expansion of laptops users in the workplace, school campuses, and worldwide have grown existentially since its creation. One common factor that almost all these computers have is the ability to connect to wireless internet, edit photos, write a report, take notes, and practically do anything imaginable: But there is one common factor missing from each of these seemingly wireless boxes...
Whenever you're done that report, or in the board room scurrying to find a copy of last years numbers, or just took the 2 train for an hour to class to figure out once you sat down that your paper's missing. One of the most portable items on the market is missing a key factor, printing capabilities. Taking the market of laptop users, which is global, the potential customers are endless. An expansion on the roof of the laptop of approximately 1/2 inch will allow enough room for 50 sheets of paper and an average space of 2 1/2 x 8 1/2 x 1/2 for an intricate two cartridge printing system.
With the average laptop getting thinner and thinner, we understand that clients would sacrifice a half-an-inch for more versatility in their product. As far as weight of the laptop is concerned, the 50 sheets of paper added on top of the small printing device and cartridges would increase the weight of the laptop a maximum of 1.25 pounds.With the patent that Porta-Prints has received, we can guarantee that this idea is ours and that there's no immediate competition. By pitching this idea to some of the industry leaders in computer manufacturing, such as Dell, Apple, and HP, we can plan to achieve a great investment once full market potential is realized. These investments will lead to the investor making room in their plants to start building machinery to get things started on our new model of laptops.
To appeal to more customers we'll adopt a green approach when it comes to the ink cartridges and paper used in our printer, encouraging recycling and ink refills.
The investment we need to get started is basic operating costs of our marketing and business team, as well as all production needs to get our product out in the market. Basic test markets will be used during production to ensure that the product will catch. Once the market is sustained, it should take an average of 6 months to a year for consumers to switch over from their old laptops to the new Porta-Print Laptops.
Senza Terra, a new idea for a social venture, will be open its first location in New York, as an urban restaurant with a greenhouse. Our purpose is to promote healthier eating by providing organic food and the slow food movement. We also plan on educating the population through our various classes in cooking, growing plants for yourself at home, and wine making/tasting. Our greenhouse will house an application of aeroponics to grow some our vegetables and fruits which we will use for our restaurant. This will also be a facility to demonstrate how to grow vegetables at home.
Although there are a variety of restaurants in New York City, there are only about 30 in Brooklyn and Manhattan that meet the specifications of being a Slow Food restaurant. None of them produce food in house though. Our purpose is to combine the two, as well as build a network with local producers within a 4-5 hour distance of our restaurant. We will work with only producers that meet the requirements of the Slow Food Movement and therefore produce Organic products. Although these products are generally more expensive, we hope to offer a wide variety of dishes but fewer options in order to increase turnover. Therefore, we will increase our buying power and be able to cut down on costs.
Our classes will range in price depending on purpose - cooking, horticulture, wine making/tasting - as well as the age group. We are looking to appeal mainly to the age group of 25 to 40, with an average household income of $65k. The restaurant aspect will appeal to a larger group, although the cost of the average main course will be approximately $23. We hope to keep costs down by allowing for the higher turnover, and increased buying power. Our restaurant will be open for dining after 4pm during the week, and from 1:30pm on weekends.
This will allow us to get revenues for dining at their optimal times, and maintain classes in the morning and early afternoon hours. We may find that we will hold a class one or two nights a week, as it will be more profitable, but this will be analyzed within the first 6 months of operation.
Currently we are looking at purchasing real estate in Brooklyn or Queens - either Brooklyn Heights area of Brooklyn or Astoria and Long Island City area of Queens.
I developed my interest in the hospitality industry, mainly through my experience working at my family's Travel Agency. Throughout my number of trips to Italy I have also experienced some of the finest food. I believe it is due to the more organic and slow food cooking processes that have been continued in Italy and the idea that food is not just a means of fuel, as fast food in the U.S. promotes which has led to the preservation of the wonderful food of Italy. My goal is to transfer that to the United States in the restaurant industry and later in the hotel industry as an "Agriturismo." Currently I reside in Queens, NY.
Step-Open Toilet Lids
Toilets are in every household and almost every single building in the world. Everyone needs to have them because everyone's body produces waste that is then disposed of in a toilet. There are many problems with the sanitation of restrooms which people are unsatisfied with. Restrooms are used by all different types of people throughout the day and night leaving germs, bacteria, and residue on the toilet's parts while operating it. Unfortunately, we have to put our hands and backsides on these bacteria-infested toilets that have gathered germs from one person to the next. Why should we have to touch these dirty toilets at the risk of getting sick? We shouldn't, and we don't have to.
With the addition of a small, plastic step at the foot of the toilet that would allow a person to lift the toilet lid when applying pressure, everyone would be able safely use the restroom without having to touch and lift the used toilet lids. The concept is simple and very similar to the mechanisms of step-open trashcans that have been a huge success over the past years. The toilet lid will remain closed when pressure is not applied to keep unattractive and harmful odors from leaving the toilet and entering the rest of the building. In addition, this mechanism will restrict children and pets from entering the toilet and possibly harming themselves. This concept can also be applied to the moveable seat part of the toilet that users sit on, in which pressure can be applied to the step to lift the seat when not needed and avoid picking up the repeatedly used part. In particular, it may also decrease women's frustration from seats left up after use by men.
Fortunately, the production costs will be very low. The Target Market will be any person who owns a household or building with restrooms, basically anyone who owns a toilet. This is a New Business Concept that is overall efficient, effective, simple to use, and has the power to change the way we use toilets.
International students who come to US face a myriad of a new situations and challenges. StudentGlobe.com a subscription based networking Web site for just these kinds of students, providing them with a unique platform to arrange their pre and post travel needs and help them smooth out their migration process to USA.
Most students manage to succeed in their initial examination process and visa application either through self study or online training or then through a consultant. The real challenge begins only after the visa process, when students have to arrange for various services such as accommodation, airport pick up, air ticketing, banking, cell phone etc.
These are essential services that students need before they leave for their destinations. Most of the students have a difficult time trying to arrange all these services and they have to depend on either friends, relatives or their consultants to arrange them. There are many Web sites available that cater to individual services. However, after having completed their visa procedure, students traveling abroad usually do not have the time to conduct a detailed research regarding every single service required before their travel. This necessitates a single point of contact that aids in acquire information in relation to all the services required, assist in connecting and contacting different students who are traveling to the same university or destination, pre arrange all requirements before even stepping into United States. StudentGlobe.com takes care of all these needs.
Customers for Studentglobe.com not only include students but also consultants, parents, universities and financial institutions. For initial few years the service would be limited to selected states like New York, New Jersey, Boston, Philadelphia etc. While the international location would include selected countries in Asia only for initial years. Studentglobe.com would do a commission based business with the consultants, universities and financial institution to increase its student base. Though the service charges a initial subscription but ultimately the student is going profit from it by the various programs like points redemption, referrals, group discounts etc.
Rohit Phadtare: I completed my BS in civil Engineering in 2007 from Mumbai University, India. After completion of my BS I immediately came to US for my MBA. As a preparation for my MBA I started small firm company in 2005 to gain business experience. The firm specialized in trading rubber moulded articles. I used to manage the business in the spare time after my college. I had 3 clients and successfully operated the business for 2years. Initially I came to Pace for full time MBA Finance. But after understanding the market conditions and potential for growth I decided to dual major in MBA Finance and Strategic Management. I would be graduating in December 2009. Working as a graduate assistant in Pace- Finance and Management departments gave me an excellent opportunity to enhance by academic knowledge and broaden my outlook. Currently I am working as an intern with a portfolio management firm. The job is really exciting in the current market situation and each day is different.
The two most common diseases in this century are diabetes and obesity. The leading cause of death in the U.S. is attributed to cardiovascular disease. Sui Unique is a health drink that can help fight these problems. Sui Unique is an all-natural juice that will provide a refreshing, yet nutritional substitute to other soft drinks, juices from concentrate, and sports drinks. The primary ingredient of Sui Unique, has the power to lower cholesterol levels, protect the retina, regenerate cells, prevent cardiovascular disease, slow degeneration of the cells, it is a natural blood thinner as well as a natural diuretic, it is beneficial for circulation, and because it is a powerful anti-oxidant it possesses the ability to act as an anti-inflammatory.
Sui Unique can and will provide a new unique taste that no other competitor has, and with the health benefits the juice provides, it places Sui Unique Juice on a pedestal. The product delivers a taste that does not need to be acquired, but simply given an opportunity. The drink can be consumed as a refreshment or as an after fitness juice. Sui Unique is incredibly beneficial to society and with the nation's current health conditions and the global health kick we feel that this product is a need for the public. Our product's unlimited health benefits make the potential demographics it can reach unlimited. It is not medicine or to be taken as if it were, the juice can be consumed daily with no limitations, the more it is consumed the more powerful the benefits. We know this juice is a great opportunity for all consumers to better their health, which in turn will better their lives as well.
Our niche in the market is the Strength and Recovery sector of the U.S. Functional Drinks Market, for we feel this is a market has potential to grow and is not yet saturated. Sui Unique, which we categorize as a Super Vegetable, will be more than just a refreshment or drink because along with Web sites and other sources of media information we plan to maintain constant knowledge of the health foods market and update our customers with daily information regarding fitness and nutrition. With success we hope to be actively involved in several fundraising foundations. This is a product for everyone who wants to reach their peak performance and health potential.
The Haven will be innovative synergy of a pool hall, skating rink and lounge. The idea behind this new business venture is to both revolutionize the skating and billiards arena as well as the creation of a fitness element to them. The business will be called The Haven which has great branding potential. The idea for this venture was inspired by the joy of these activities by the management team as well as an unmet demand for these activities. An underlining theme of the Haven will to create a fitness aspect to these activities. So the Haven will have programs such as fitness skating which will transforms fitness to entertainment.
With obesity in the United States reaching alarming levels, parents as well as individuals are looking for creative ways to keep active. In New York City the percentage of obesity has increase from fourteen percent to twenty five percent in the last five years. The Haven offers a place where the parents can have fun and get fit together with their children.
The Haven's goal is to be an industry leader by providing a safe, unique, exciting experience to its customers. The ideal location for The Haven is in Queens and Long Island and our current competitors are Dave & Busters, Strike and Play lounge which all have their own niche market. There are no other facilities that focus on innovation and offer the same services as the Haven, which will give it a huge competitive advantage.
The management team for the Haven will be the founder and CEO Bola Omotade whose focus will be on the marketing of The Haven. He has an MBA concentration in marketing management with more than six years experience promoting and marketing planning. Bernard Dessert, who has a degree in hotel and hospitalization, will oversee the lounge operations. He has successfully managed two lounges for more than seven years. Rommel Rampersaud who is a certified personal trainer will manage the Haven's fitness programs. We will hire people to fill day to day operations.
Bola Omotade was taught the meaning of hard work and fortitude first hand from his two Nigerian immigrant parents who came to this country to provide a better life for their children. Being the second youngest of six children Bola quickly learned the importance of standing out and being creative. His desire to become an entrepreneur stemmed from working extensively with his uncle who owned a very successful development company. As a teenager Bola always thought outside of the box which has been his staple in life. He double majored at Baruch College where he received his Bachelors degree in entrepreneurial management and marketing. He is currently pursuing his MBA in marketing management from Pace University and anticipates graduating in 2009. He has a diverse professional background in different industries such as transportation, entertainment, development, and financial. His diverse background has allowed him to learn different systems as well as develop unique skills. He currently works as an analyst for Canon USA and moonlights by promoting social events. He has assisted in developing two different companies and wishes the third will be his own. His hobbies include writing, chess, sports, and training for the NYC marathon.
UpStaged- Concert Venue and Rehearsal Space
UpStaged is a sole proprietorship concert venue/performing arts center connected to rehearsal rooms. This is housed in one segmented facility, located in Long Island, New York. UpStaged has seven rehearsal rooms rented on a monthly basis and three rented on an hourly basis. UpStaged houses a large stage and performance area with a capacity for up to 750 attendees. UpStaged offers musicians a place to practice, provides a local venue for people to attend a concert, and a stage for theatre groups to produce performances.
The industry is still in a growth stage as music and entertainment-related services are always in high demand. There are only a handful of concert venues on Long Island. The two biggest venues are Jones Beach Amphitheatre and Nassau Coliseum, which only book national touring acts that have attendees of a few thousand. UpStaged would house more regional acts that draw a smaller crowd in comparison to these larger venues. UpStaged's direct competition on Long Island would be: The Crazy Donkey and Club 2686. The Crazy Donkey's and Club 2686's main focus is a nightclub atmosphere; staging concerts is a secondary endeavor.
As time passes, UpStaged would become more popular both through advertising and word of mouth. However, theatre groups are more likely to rent the stage on weekends than they are on weekdays, so that aspect of UpStaged will probably plateau relatively early. On the contrary, as UpStaged gains popularity, bigger name acts are likely to play there, and therefore more attendees will come as well, making up for this stagnant aspect of stage rentals.
UpStaged's fixed costs would include: mortgage payments, loan payments, utilities, a security program subscription, and daily staff for the hourly rental spaces. These costs are expected to increase gradually throughout operation.
UpStaged's variable costs would increase each year as a result of an increase in the number of concerts per year, ticket sales per concert, and the number of hours each hourly rental space is used per day. UpStaged's variable costs consist of paying security guards, ticket takers, booking agents, the bands, an audio technician, and equipment maintenance.
UpStaged's projected steady rise in profits is the result of increased ticket sales and hourly rental spaces as well as the higher frequency of concerts and stage rentals. These revenues are expected to increase at a much higher rate than the costs of operation, making it a wise investment choice.
The Haven will need $ 3.5 million dollars which will cover renovations, furniture and other start-up cost. It will generate revenues from admissions, skate rentals, table operations, food and beverages as well as fitness programs. We project the Haven will generate profits in its second year of operations and reach yearly profits of $ 1 million by year four.
English is no doubt the most useful language to connect the world. Learning English is extremely popular in Asian countries especially in Taiwan, China and South Korea. Students are required to learn English for at least 12 years, but most of them still cannot speak English well. Why? Three reasons: Lack of quality English teachers, shortage of opportunities to practice English and a weak curriculum focused on grammar and writing instead of speaking.
I am providing a solution, an opportunity to all Asian students to succeed in English learning. The service will be provided in two stages:
- Offer teacher-training programs to Asian Teachers through universities in the US, which will be the focus of this pitch
- Offer English summer camps in Asia taught by English native speakers, when the company matures. WorldTESOL started in August 2008 providing the 1st service and currently has 20 Asian teachers registered to come to Pace Universityin February to attend the training program.
These two well-known competitors are not targeting international English teachers but only domestic residents in the U.S.A. If these competitors switch or decide to target Asian countries, the problems they will face are recruiting, language barriers, and lack of understanding of the customers' needs.
Our program costs $1800 is a 10-day, 60 hours intensive program. Sales projection: 200 teachers in 2009, 400 teachers in 2010, and 800 teachers in 2011. A Web site named, WorldTESOL.com has been set up. Strategic alliance will be formed with local universities and teacher recruiting companies and various ELT (English Learning Teaching) Publishers. With the alliance, approximately 20 sales raps and 80 agents around Taiwan, South Korea, and China will be promoting our program to Language schools. Cumulated sales revenue in 2011 will be 2.5 million, with a profit margin of 56%, we'll generate 1.3 million profit margin.