I've been brainstorming ideas to get started on the Fastlane track after reading various posts on the website.
I was hoping for some feedback.
Here goes...
Idea: a rental system that focuses on kitchen appliances. Specifically immersion circulators. (I bought my own and have been using it for the past few months. It is a product I've had in front of me, so I'm not just pulling this idea out of thin air).
How (I think) it adds value: The circulators cost $100 - $200 to buy. Most people don't use it more than a few times before it's stored away and forgotten about. (My target market would be young ladies who enjoy dabbling with cooking. Think trendy New York hipster)
If instead, they rented it for the times they do use it (sort of like a Turo/Airbnb for kitchen appliances) and paid a small fee (~$10/month) that would be the value add. They save money but also get access to a restaurant-quality cooking method only when they need it.
How it would work: A rental website. I've seen similar ones for gaming consoles so I would base it on that.
CENTS framework:
Control: I'd own all the equipment.
Entry: Reasonable amount of know-how is needed for execution, which eliminates 90% of people.
Need: I've seen multiple channels on Youtube, that have 100K+ views. People are at least interested in this equipment though. For many, the price might be the biggest hurdle.
Time: a rental system, which is excellent.
Scale: I have a goal of renting out 20K units a month. I think it is reachable.
I've just outlined the bare-bones idea here. I would refine it as I go along. I just wanted some feedback and possibly some veterans to poke some holes through my logic and challenge my thinking.
Thanks again!
I was hoping for some feedback.
Here goes...
Idea: a rental system that focuses on kitchen appliances. Specifically immersion circulators. (I bought my own and have been using it for the past few months. It is a product I've had in front of me, so I'm not just pulling this idea out of thin air).
How (I think) it adds value: The circulators cost $100 - $200 to buy. Most people don't use it more than a few times before it's stored away and forgotten about. (My target market would be young ladies who enjoy dabbling with cooking. Think trendy New York hipster)
If instead, they rented it for the times they do use it (sort of like a Turo/Airbnb for kitchen appliances) and paid a small fee (~$10/month) that would be the value add. They save money but also get access to a restaurant-quality cooking method only when they need it.
How it would work: A rental website. I've seen similar ones for gaming consoles so I would base it on that.
CENTS framework:
Control: I'd own all the equipment.
Entry: Reasonable amount of know-how is needed for execution, which eliminates 90% of people.
Need: I've seen multiple channels on Youtube, that have 100K+ views. People are at least interested in this equipment though. For many, the price might be the biggest hurdle.
Time: a rental system, which is excellent.
Scale: I have a goal of renting out 20K units a month. I think it is reachable.
I've just outlined the bare-bones idea here. I would refine it as I go along. I just wanted some feedback and possibly some veterans to poke some holes through my logic and challenge my thinking.
Thanks again!
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