Assignment 24A – Venture Concept No. 1

Opportunity

The group of people who requires the need for my product is pet owners who have one or more dogs. This product would also be beneficial for people who live in neighborhoods, homeowners’ associations (HOA), or apartment complexes. The primary nature of the need is a reduction in the amount of dog waste in local areas. The forces and changes in creating this opportunity are increasing dog waste in these areas. As a result, people recognize this need because their neighbors may not regularly pick up after their dogs, and this is frustrating to them. This market is extensive demographically and geographically, as there is a wide range of neighborhoods that experience this problem. Specifically to my venture, this market is defined demographically and geographically as people 30 to 60 years old who live in Palm City, Florida. Customers currently satisfy this need by using products like pet waste bags. They purchase them through their local pet stores or a subscription service like Chewy. While they are loyal to the products they currently use, they wish there was a long-term solution to reduce pet waste in their communities. This opportunity is significant because the reduction of dog waste leads to cleaner communities. I believe the window of opportunity is open for a more extended period because unclaimed dog waste is a continuous (and messy) problem. 

Innovation

My innovation is the Doggie Dooty Station, which is a receptacle that enables dog owners to properly and safely dispose of their pet’s waste. This goal is accomplished through a designated slot that accommodates soiled pet waste bags. If a dog owner forgot to bring a bag, they could obtain one for free at each station. Or, they can also get a pair of gloves if they don’t like the thought of solely using a pet waste bag to pick up after their dog(s). Each receptacle also has signage that informs dog owners about the harmful effects of unclaimed dog waste and the importance of using Doggie Dooty Stations. Lastly, treats will be available for dog owners to give to their furry friends each time they use the receptacles. Not only is this incentive-based and a simple method of positive reinforcement, but it is also a measurable way to determine how many people use the stations over a certain period, such as per month. There are numerous ways I will make money through this venture. The installation fee for each Doggie Dooty Station is $200. The user cost of the station is included in monthly HOA dues of apartment rental fees. Also, for each instance of a dog owner not picking up after their dog(s) and their neighbor(s) seeing/reporting the situation, they will be fined $25 per incident.

Venture concept

I think customers will switch to this new product because of the convenience it offers dog owners where they can obtain both pet waste bags and gloves at each station. With this being said, I think it will be easy for them to switch because having these features removes any excuses for dog owners on why they aren’t using the receptacles. There are no competitors within my business location (the Treasure Coast, which includes Martin, St. Lucie, and Indian River Counties), which I think is another unique aspect of my venture. Packaging, distribution, customer support, and business location are crucial aspects in defining my business concept because these elements work together to generate customer interest, which leads to their use of the receptacles and loyalty towards the Doggie Dooty Station brand. To organize a business, I would first obtain a warehouse so the stations can be produced in a safe and centralized location. Next, I would build a team of employees to help scale the company. These employees would include a Supply Chains Manager, Customer Service Representative, and HR Manager.

The three minor elements

My most valuable resource would be branding my product. My objective is to create a strong brand that makes people want to use the Doggie Dooty Stations. My next venture would be creating a small pet waste bag dispenser that clips onto a dog’s leash with a slot like the one on the receptacles to dispose of soiled bags, and it would be called the “Doggie Dooty Dispenser.” This product would be useful if the dog owner is not near a Doggie Dooty Station but needs to dispose of their pet waste bags properly. In five years, I would have successfully launched my product in neighborhoods throughout Palm City, Stuart, and Downtown Stuart. Then, I would begin to look at additional areas in the Treasure Coast to install stations.