24A-Venture Concept No.1

Venture Concept 1

Opportunity

The unmet need is left handed people not having the same advantages as right handed people. About 10% of the population is left handed. Most left handed people don’t use things properly because they are not made for us. This opportunity not only involves the left handed adult or child, it involves the parents for the left handed child and or the spouse of the left handed adult. Left handed individuals struggle with writing in a three ring binder, using scissors, going to a bank to deposit or withdrawal money because the pen is on a chain on the right side, trouser zippers, learning to tie shoelaces (as a child because the right handed parents are showing you their way rather than a comfortable way). These are basic day to day things many of use do or have done. The force or changes in this environment is there are not many left handed products sold or sold for a decent price. There are left handed individuals around the entire world but majority are in the U.S., Canada, Netherlands, and Belgium. In order to satisfy this need, left handed individuals go against their motions and learn how to use products with their right handed or use right handed products with their left hand which causes the most frustration. Many left handed individuals become comfortable with using the two methods mentioned above so they are extremely loyal. This opportunity is big, it can change the lives of lefties and future lefties. This window of opportunity will not close until every leftie is satisfied.

Innovation

My company will be called “Southpaw Lifestyle” which will provide left handed products at a decent price through my online store, my physical store, or the products I put on Amazon or sell to Walmart. I’ll be selling left handed scissors, pens, notebooks, guitars, baseball and softball gloves, can openers, and cooking utensils. The way I will make money is buy looking for large quantities of left handed products which are sold much cheaper, then sell them at a decent price. For example, I buy 100 left handed scissors that will individually cost 2-3 dollars. I will then sell them for $3.75-$4.00 to customers which is the best price compared to $8-$20 scissors. I will profit $.75-$1.00 for each scissors sold. I can do this for all my products. I can also network with people who make guitars in local stores and ask them for deals. For example, I walk into a local store and ask them how much a left handed guitar is made for, then I will cut a deal and tell them I’m willing to buy 50 guitars from you for $200-$300 for each guitar. For a local business store owner, who would say no to that? Then I’d sell the guitars for $400-$500 which gives me a $100-$200 profit. I’d do all of this as I begin my business. After five years, I’d like to then learn how to create my own scissors, notebooks, pens, can openers, and kitchen utensils. I’ll be able to profit much more if these products were created by my business. For example, I buy a thousand loose leaf college rule paper for $2.00. With researching how to make notebooks, I can make my notebooks that tear paper from the right side instead of the left. If I purchase 2 spiral rings for $1.50, I can make two notebooks which each cost $1.75 for making them and I’d sell them at $3.00 with a profit of $1.25. I’d allow advertisements on my website which will make me some money and I can hold fun events at my store and charge $3.00 for each person that attends my event.

Venture Concept

This company will help solve this opportunity because Left handed individuals will purchase handed left products at a good price. This company will have variety of different products from guitars to measuring cups. Customers would switch to my product for the price and the variety. It would be hard for adult customers to buy these products because many are accustomed to using right handed products with their left handed. Parents of children are more inclined in buying my products because these products will help them embrace their left handedness and cause less of a frustration when in school. I have a lot of competition including other left handed companies and right handed companies. My price points are my strengths. I will have the lowest possible prices for these products which may even cost less than right handed products. For the first year, myself and my partner will control the business in all aspects. As the company grows and I begin to sell my own made products, I will hire more employees to help with the production and selling of products. The employees will have excellent customer service and work ethic.

The three minor elements

We will have the passion to create a better experience for customers rather than just looking at dollar signs. Because I personally know the struggles of being left handed, I will understand my customer’s needs and help solve these needs.

What’s next? Possibly setting up sports activities by creating my own baseball and softballs clubs that are for left handed players. I’d also like to hold creative nights at my store like a music night for left handed musicians and left handed artists. I will continue to find more products that can benefit left handed adults and children.

In five to ten years, I’d like my company to be the top leading left handed company and another store location in another country. As an entrepreneur, I’d like to turn more bugs into fixes. I’d like to continue to develop as a person who turns problems into solutions. This venture will help me have the motivation to do bigger things and have no fear in making my ideas into realities.