Venture Concept

Sebastian Ponce

Dr. Christopher Prior

ENT 3003

December 7, 2018

Bohemian Artisans Venture Concept

Opportunity: The customers intended for this clothing brand are mainly young adults to retired, working age people. People that want to give a unique bohemian touch to their homes and to their lives. The need is for people to have high quality; meaningful textiles such as bags, pants or hammocks that come from the Andean Textile market in Ecuador. The forces that create these opportunities is that people are moving away from the mainstream market into unique, distinct clothing that no one has; representing the Hippie, Bohemian and Lounging trends. Geographically, it has no extent; I have sales in Croatia, Spain, Australia, USA; its more about the style, there is no determined location of people that all like these trends at the same time. Customers satisfy this need by buying high quality, handcrafted Andean textiles such as Inca Pants, Hammocks and Bags. This window of opportunity has no rush; there are different ways that seasonal trends might affect the demand for this product. Its primarily based online; looking into brick and mortar stores.

Innovation: Bohemian Artisans consists of a combination of different colors and textures that follow the bohemian design features. The hammocks are 80$, the pants are 30$, bags differ from 25$-60$. The concept of Bohemian Artisans embraces the importance of a handcrafted item by an indigenous culture in Otavalo, Ecuador. I give back 20% of my revenue to this community because our vision seeks to spread the word of these beautiful Andean textiles. Instead of buying a Jogger in HM that would be 32$, and millions of copies would be sold; each Inca Pant is unique and has no similar replica.

Venture Concept: The high-quality products in my storefront would solve the unmet needs of these adults that want to buy these significant pieces of the artisanal handcrafted market from South America. Since I have contacts in Ecuador; I can easily order more products and we recently created a contract from FedEx and have the ability to ship premium quality roses from Ecuador with 2-day shipping so they arrive fresh and with superior quality than other roses. My competitors are people who also sell products from Otavalo online, similar products; but I sell them at a lower price with more variety to choose from. Every time I sell a product, I give them a free small artisanal detail such as: hair ties, small paintings, anything that we order with the purpose to give as extra details to our customer to ensure customer loyalty. The venture consist of a Marketing Director that enhances Google Ads and Search Engine Optimization, the Rose distributor contact and a chofer that drives to Otavalo and picks up the products sold in the store. Then the products are shipped at a low cost to the warehouse.

Secret Sauce: My most important resource is that I have contacts in Ecuador that facilitate import of these artisanal handcrafts and the promotion of Roses. Since I can have direct contact and re-supply, re-chose and order flowers without any incommodity, I have a far superior advantage than my competitors. I can resupply in just 4 days, and I sell premium roses from Cayambe, Ecuador amongst the best in the world with direct contact. 

Roses: The next step in the process of this venture is to acquire the Rose selling verification on Amazon, eBay and direct contacts. I have a contact that can sell the roses to me at a wholesale price, (50% less than purchasing from a store) that would attract new customers since my product is amongst the best quality of roses due to the strategic geographic position in the Equator that makes the roses grow in a nurturing environment.

My Exit: It depends on how well I am doing this, if I manage to sell 50 units a month, I will keep sending the Ecuadorian Artisans in Ecuador. This business has a purpose to finance my extra spending on my college life. If the business is slow (that I won't allow) I will end it when I graduate around Fall or Spring 2020. 

Avoiding Booby Traps

1.    Don’t rely on e-commerce alone. Sometimes Search Engine Optimization is not enough; spread the world and network your venture concept.

2.    Take AWESOME pictures, share your product quality.

3.    Don’t let your business sit or sleep. If you are making money and sales are great; don’t just stop there. Always look for more opportunities.

4.    Customer service is the PRIORITY always, never leave an unsatisfied customer. 

https://www.etsy.com/shop/BohemianArtisansCo

Unfortunately, I did not do the first revision of this assignemnt, and I could not recieve feedback.