29A Venture Concept No. 2

Opportunity

• Individuals that are looking for a healthier lifestyle when it comes to treatment of certain medical, therapeutic, dietary, and/or religious aspects of their life. This is something people of all backgrounds can use. My potential customers are people that are seeking a beneficial change to their current lifestyle. 
• The nature of the need is about looking to change lifestyle decisions to become healthier. This My business proposal is the use of homeopathic essential oils that can help people live healthier and with less chemicals involved in their everyday lifestyle. 
• This market is defined demographically I believe for women more often than men because they will want the change that homeopathic treatments provide. At first, I would gear towards a market that may be open to these lifestyle changes and geographically restrict it to those in the continental United States. 
• Many people are looking towards homeopathic medications due to the controversy and problems that come along with large manufactured medications. From expense to side effects of these medications, many individuals are looking for a better solution to treat some problems. 
• The window of opportunity has already been around for thousands of years and I think it will still be a popular through the next few decades or until mass produced medications can be administered safely and without problems. 
• Because so many people are looking for natural ways to take care of sickness, I will have a larger target audience than if I had an idea that was only for a certain group. I 

Innovation

• My product is innovative in many ways. First, there will be a kit provided for every individual that is willing to purchase it. There will be a variety of homeopathic oils inside to help with various everyday lifestyle changes. It will also come with a diffuser to diffuse oils for the household in place of candles or air fresheners that have a lot of chemicals in them with unknown or harmful side effects due to prolonged exposure. 
• My kit to sell would retail for about $150 and will come with a diffuser, 12 essential oils, a mini bottle of household cleaner, and clear vegetable capsules for ingestion of certain oils. It will also come with a guide of what to use, how to use each product, and the benefit of each product. 
• After buying a kit, they can buy individual oils, organic household cleaner, toiletries, and roller bottles that have blends that could aid in sleeping, suppression of headache symptoms, mood, cramps for women, and even a blend to help prevent sickness. Each oil, household cleaner, and rollerbottles will be varying prices depending on what type of oil is in each. It could range from $14 to $250 depending on the type of oil bought. For example, Cedarwood would cost about $14 for a 15 mL bottle while something that is much more rare and harder to extract like Rose oil would be $250 for a 5 mL bottle. These prices may seem steep but all of these oils take a lot of work to manufacture and produce in a healthy way. 
• I would have representatives that would make house calls to help people get started on their kit, specifics that may not be written on the how to use guide, and who and who may not be able to do. For example, nobody should put straight peppermint oil on the skin because it can cause a burning sensation due to the strength of the oil. This representative could help a lot of people and also get commission by selling oils as well. 

Venture Concept

• I believe people will switch to these products because they can last longer, there are no side effects to the majority of these natural products (unless there is an allergy), and are more beneficial in the long run. I believe that this concept is hard to believe for most people, but as a regular user of essential oils, I have seen how they benefitted myself and others that have used them. It may be harder for people to switch to these products because they may not see the beneficial sides of them but after using them consistently, there will lifestyle changes and people will want to switch. 
• Large corporations that mass product pharmaceutical medications, household cleaners, and candles would be competitors. People have been using these products a lot longer and see the benefits in using them so it can be hard for individuals to transition to something they haven't used before. The weakness of my competitors are definitely the use of chemicals found in many products. They may say "safe for children and pets" on the bottle but we don't actually know that. They may also say that they are organic but unless they are made from actual plant products, we don't know that either. 
• To organize a business for this, I would start by word of mouth or sample products that could be sent to people who are interested. We could start selling at small vendor events. There would be about 50-70 employees that would work for this business. Some would be in the lab, creating and testing products for consumer safety before selling them. Others would be organic farmers that could grow the plants that would be used to make the oils. There would be no pesticides used for our plants and would be free from harmful synthetics. These are just a few roles that would come together to work for and support this business. 

Three Minor Elements

• I think my most important resource would be sourcing. I don't want to use fields that have been plagued by pesticides or harmful synthetics before I grow my product. We will be conscientious of the treatment of people, land, and the resources that are going to be used during this process. It will be hard for competitors to copy my success because I plan on owning the land on which my plants are produced. Whether it be in the United States or across the world to get the purest and have extensive knowledge about the agricultural side of this product. 
• I believe the next order of business so to speak is creating medications made from essential oils that can be taken on a regular basis, such as vitamins or when an individual isn't feeling well, like an immune defense tablet. This could really promote the use of homeopathic medications and treatments without using big pharma run medications. 
• In five years, I would like to have this expand to at least one other country, like Canada. It may be hard to do something globally because some countries may not have the same perspective on medicinal medications and treatments. I would first have to look into the homeopathic outlook for out countries.  

2) Much of the feedback given to me was that my concept was extremely thought out and how the direction I want to take my idea is interesting, like making essential oil tablets or pills. Some other things written as feedback include how I am catering to a large audience, how well my idea is thought out, and my style of marketing that could be extremely effective. I also got told that my 5 year goal may not be effective, as having something going global could be extremely hard within 5 years. I know that I may also have to think about reducing the market size in such a short time and focusing on introducing it into other countries one at a time. 

3) I didn't change much, but I did add how having a larger target audience would be beneficial to my idea and how I would not try to think so broad when it comes to the 5 year mark. I also added an idea to have representatives come to houses of people that may need help and have questions that may not be on our how to use guide. I think this would add a personal touch and make my company a lot differently than others. 

The picture I added is a picture of my diffuser with some oils I use to help me sleep at night.