Practicing CENTS - My first business Idea.

[JophMax]

Hello there.

I'm an electronics engineering student who doesn't want to spend the rest of his life working like a mule to get only Saturday and Sunday. And since I'm currently working on ideas for my thesis, I figured out I could practice my productocracy-seeking muscles too by making some CENTS out of It.

My first idea is an inexpensive water filtering system for residential uses in my Country (Venezuela).

You see, getting clean water isn't a big problem in the US. But if you take a look at third-world countries, untreated water is an alarming cause of lots of illnesses. Just this week, one of my little cousins was hospitalized because of bacteria inside the water that was "clean".

We don't drink dirty water from a well or anything like that. We simply take 20 lt jars to businesses that dedicate themselves to refilling them with supposed spring water. I say supposed because most of these stores just take water from the sink and make It seem like It went through an arduous filtering process.

Then why not buy filters for your own house?

The problem is, commercial filters are really expensive, the "cheapest" being 70$, a price that many households prefer to spend on food and essential resources.

Is It viable?

For now, It's just an idea and I'll need to make a further analysis of the price of Its components and how to get them here. But, for now, doing a quick CENTS Analysis we have:

Control: It will take looking for manufacturers and different fabrication techniques to figure out this. Since everything Venezuelans use is imported, I figure out I will depend on a shopping website like Amazon for the parts at the beginning.

Entry: This is a big, big problem, yet there aren't many businesses that dedicate themselves to selling filters. I have only seen a couple of reverse osmosis filters in water refill businesses from my city, yet nothing like an affordable filter is being sold. It also requires knowledge and lots of time, things that people either don't have or aren't interested in.

Need: Well, needless to say, people crave a filter that isn't worth 70$. The state of illnesses in the country and the low supply of potable water make people complain, a lot. I do hear complaints about the quality of the water at least weekly, so there's a market for It.

Time: In the beginning, I won't have the tools to create a high amount of units, So It'll take me lots of time. However, If all goes well, I'll be able to take care of It through outsourcing or other means.

Scale: By Having blueprints and schematics for the filter and the right contacts, lots of units can be produced. Yet, in the beginning, I find that I won't have any scale.

That being said, my potential TAM isn't only limited to my country, but all nations that have problems with drinking water. So It can be worth a try.

Feel Free to Roast my Idea and give me feedback. I'm all ears.

Thank you for reading!

 

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