25A – What’s Next?
Existing Market
1. For what’s next in my business, I would continue all the business in Gainesville until I talked with all restaurants and coffee shops. I could expand by targeting stores like Walmart and other retailers to see if they would carry my product. Once all business that use straws have been approached in Gainesville, I could target other cities in Florida with similar regulations and look into expanding.
2. After interviewing three customers, they have told me that I could look into other products such as cups and lids to sell to these coffee shops. They told me as I build relationships with my customers, I can ask them how much they pay from cups and napkins and anything else they might use, and slowly begin to start offering these products to my clients. If they are happy with my customer service, they would be more likely to switch to me.
3. To grow I feel like the key would be to push customer service. I would ensure my customers are happy and getting the best price possible, and ensure that I would be there for any of their needs. If they are happy, they would be more likely to refer me to other restaurants, and buy other products from me in the future once I started offering them.
Another feedback I got is to start small. It would be important to start with smaller local businesses, to use my product, and gradually build and use them as my network. Bigger chains would be more likely to buy from me once I have a larger list of clients who do.
New Market
1. I am currently targeting other businesses, but can target straight to consumers.
2. I could go to local farmers markets and sell boxes of these bamboo straws and other products like stainless steel straws.
3. One of my friends who frequents farmers markets said she would be likely to purchase if I push the environmentally benefit side to consumers. She said she likes having parties where she makes mojitos and straws are required to mix it as you drink, but hates buying plastic and paper straws, but also hates having to clean all the stainless-steel straws afterwards. Showing it is an environmentally sustainable way to consume alcohol to college kids would be a good way to sell them.
4. I feel that I was focusing so much on coffee that I forgot that college kids consume so much alcohol. When I drink, I don’t use straws, but I know some friends that do like using them, especially for mixing your drink as the ice starts to melt and water it down. Focusing on this could sell a lot of straws.
I feel like I would not sell as many straws in this market, but would still be profitable to go after.
1. For what’s next in my business, I would continue all the business in Gainesville until I talked with all restaurants and coffee shops. I could expand by targeting stores like Walmart and other retailers to see if they would carry my product. Once all business that use straws have been approached in Gainesville, I could target other cities in Florida with similar regulations and look into expanding.
2. After interviewing three customers, they have told me that I could look into other products such as cups and lids to sell to these coffee shops. They told me as I build relationships with my customers, I can ask them how much they pay from cups and napkins and anything else they might use, and slowly begin to start offering these products to my clients. If they are happy with my customer service, they would be more likely to switch to me.
3. To grow I feel like the key would be to push customer service. I would ensure my customers are happy and getting the best price possible, and ensure that I would be there for any of their needs. If they are happy, they would be more likely to refer me to other restaurants, and buy other products from me in the future once I started offering them.
Another feedback I got is to start small. It would be important to start with smaller local businesses, to use my product, and gradually build and use them as my network. Bigger chains would be more likely to buy from me once I have a larger list of clients who do.
New Market
1. I am currently targeting other businesses, but can target straight to consumers.
2. I could go to local farmers markets and sell boxes of these bamboo straws and other products like stainless steel straws.
3. One of my friends who frequents farmers markets said she would be likely to purchase if I push the environmentally benefit side to consumers. She said she likes having parties where she makes mojitos and straws are required to mix it as you drink, but hates buying plastic and paper straws, but also hates having to clean all the stainless-steel straws afterwards. Showing it is an environmentally sustainable way to consume alcohol to college kids would be a good way to sell them.
4. I feel that I was focusing so much on coffee that I forgot that college kids consume so much alcohol. When I drink, I don’t use straws, but I know some friends that do like using them, especially for mixing your drink as the ice starts to melt and water it down. Focusing on this could sell a lot of straws.
I feel like I would not sell as many straws in this market, but would still be profitable to go after.
Dear Matthew,
ReplyDeleteI think a good next step for the existing market is to see if you could expand by targeting stores like Walmart and other retailers to see if they would carry my product. I think a good next step for new markets could be to push why your straws are economically better while being more sustainable to the environment than paper straws.