Idea Napkin No. 1
1.
My name is Sawyer Lambert and I would like to
consider myself quite entrepreneurial. I have taken part in a few
entrepreneurial situations, one last year where I entered a collegiate business
plan competition with a fellow student and got to the finals. I am mostly
interested in investments or something finance related so that is what I am
working towards. I see this business becoming a major role in my life if I were
to start it.
2.
My company is called Juntos, which means
together in Spanish. Juntos is a company that offers an online marketplace that
connects people who are looking to make similar major purchases, allowing them
to buy things together.
3.
The customers Juntos offers to is anyone who
desires a product or property that is out of their price range. Each year
untold billions of dollars in major purchases are not made because the buyer
cannot bear the cost alone. Juntos brings like-minded buyers together so that
these potential transactions could take place.
4.
Customers will care because Juntos provides
customers the chance to purchase items they may really want because another
buyer will help finance the cost. Otherwise these customers may never be able
to purchase these items. I call this un-captured potential. Customers will pay
because of this fact.
5.
Juntos provides many competitive advantages:
first, is that we are the only marketplace that actually connects buyers.
Second, is that we offer joint payment. Third, is that we provide great
marketplace consolidation.
I believe that these
factors all coincide well together. The fact that Juntos provides the multiple
elements that will be needed when offering joint purchasing, makes Juntos a
well consolidated website. Customers do not need to even use another website
for the legal contracts that will be needed when they split the cost with
another buyer. Juntos will provide contractual guarantees as well as a safe
escrow/account where the money will be placed until the purchase is finalized.
Hey Sawyer, your idea here is really interesting. It's funny because a friend and I were just talking about making a purchase online together in order to save money on shipping. This makes me think that your idea could affect a lot of people. It might be take a while to catch on and convince people but once you do that, I think this could be really successful. Feel free to check out my idea for a textbook exchange app here: http://matthewent3003.blogspot.com/2016/02/idea-napkin-no-1.html
ReplyDeleteHello Sawyer,
ReplyDeleteInteresting idea but how will it work if your buyers do not live in the same area to share the item that was purchased? How will your program match buyers? By what criteria will they be matched? What would happen if one of the buyers decided they didn't like the purchase and wanted to return the item for their money back? I could see this working in the housing market. Your home doesn't generally go anywhere and you would have a roommate automatically, but for a car, computer, ect. You would have to have very friendly buying partners to want to share all the time. This is a good idea, maybe even the next billion dollar industry. If you figure out how to make it work. Personally, however I think you need to pick a specific market and specialize. The idea you have to purchase anything and everything with partners is to broad to work. I could be misunderstanding you, in which case further clarification is needed. Here is my Blog check it out if you get the chance.
http://dcbostwick.blogspot.com/2016/02/idea-napkin-1-week-6.html
Sawyer,
ReplyDeleteI'm very intrigued by your idea. I think of a large ranch or lakeside villa that multiple families can split as a sort of time share. My only qualm about your idea is who would cover maintenance and natural disaster costs. Would it still be 50/50? Or would the family residing at the time of the damages be responsible for costs if they caused them initially? I'm curious about how diverse this idea can branch. Could this reach to things like boats, cars, airplanes, competition dogs? (Half kidding about that). Let me know your thoughts on my blog: travismcafee.blogspot.com
Hey Sawyer,
ReplyDeleteI love it! So many times this situation came up and I've asked around to get more people to split a product with me. THe only issue I see is that if its a hard good and not something like a subscription service, how can someone share the product? Unless you intend to target a very niche audience, that is, an audience of users that live near people that they can share their purchases with.
Please read my post here: http://sadokh.blogspot.com/2016/02/idea-napkin-no-1.html
Thanks for the share,
sadok