Starting a new business

For first few weeks of the individual and society class we came up with ideas of new business. Our idea was to put pocket wifi and portable charger into one. We created MBWC , Multi-Battery Wifi Charger, which is pocket size and light. Our product is very easy to use and it has touch screen.

This product will be medium priced so anyone can afford it but we will get profit. We wouldn’t make it rare because then people who wants it might buy it. We will try to sell it to not only to young people but also to seniors who wants to start using devices. It is really expensive to set up Wifi router and it can take lots of time. In fact that can be the main reason why seniors don’t start using devices. So first we will try to sell it to young people and middle aged people. So we can have more customer reviews. After that we will start researching more and sell it to seniors. The whole price MUST be cheaper than pocket wifi and portable charger added together. For monthly payment for wifi part is all decided by the customers. We will make few plans and customers can choose which company they can use. We will be a brokerage company between the customers and the wifi company.

We will employ couple of people for machinery and for being a reception. We will set up our office at Yokohama because it has strong trading system between Asia. We will first want to sell it over Asia. We will keep our company really simple first and try to get enough money so we can first pay back the money that we got to start up the business. Then we can sell it over the world.

We will need substantial amount so we can buy the machines and all so it will be about $100,000. We will use these money to first employ people, then get machine, and to get a office and a small factory. We will get the some of the money from online by using online website. For example kickstarter.com. However I don’t except to get $100k just by online. So I will go to the back and ask the bank to loan us money.

 

This product has never have been made but it is needed because people don’t want to bring two things when we can make it into one. This is an innovative product because now that we can get two out of one, we do not need to waste any extra resources that we will normally use. We can cut down the amount of money we use and amount of resources.

Leave a Reply

Your email address will not be published. Required fields are marked *