Venture Concept No. 1

Opportunity: 

     My product idea was created because I saw a need to prevent the staleness of chips. Who possesses this need can really be anyone who finds themselves buying chip bags. I see the major customer group being large families and college students. The changes in environment that prompt this need is when chips are exposed to air they will become stale. This consumer target group is defined demographically. Currently, consumers will invest in chip clips or will just roll the bag of chips. From interviews, consumer's have no loyalty to their current method. This is a big opportunity because of how many people consume chips daily. I believe the window of opportunity will always be there until someone comes along and executes a product like mine.

Innovation:

     My Innovation is an adhesive seal that will be added to large party bags of chips which allows them to instantly be sealed. This seal will prevent air from getting into the bag and will therefore help prevent staleness and prolong the 'life' of the chips. This seal works by using upper end adhesive glue to form a seal that consumers can simply just press down and instantly seal their bag after eating. I am selling the resources I used to create this seal to chip companies to add to their manufacturer for .40 cents. 

Venture Concept:

     This innovation will prevent staleness by offering consumers an instant way to effectively seal their bag of chips. I believe it will be easy to get consumers to switch their method of closing chip bags and purchase my innovation. Since I am targeting chip companies that are already established to add it to their already existing product, the company already has established and consumer base and has brand loyalty. Consumers will trust and buy my seal because they trust the brand of chips that it is on. The competitors of my innovation are producers of chip clips. The weakness with chip clips is that it is a seperate purchase that many don't want to make. They are not an instant option as a seal would be. As stated before, packaging, my price points, distribution, customer support, and the customer experience is everything when it comes to this product. My product is unique because I am targeting brands that already have the loyalty and packaging worked out. The actual business organization would have a production unit starting with about 20 employees to run and sort the equipment. I would need the roles of outreach (reaching out to different chip companies), production, distribution, etc. 

What I believe to be my most important resource is my preexisting contacts when people that work in the upper levels of big chip companies. 

What I think will be next for my venture is possibly targeting the individual size bags of chips instead of just the party bag size. 

Assuming that I do launch, in the future I would like to become an entrepreneur of bigger things than just chips. I would really like to do something with technology, and my background with this venture will help with the process.