Venture Concept

Thankfully, my potential target market is fairly vast and there are not many barriers of entry in order to use my product. I would identify the customers I am targeting as people who own boats, use boats, or engage in water sports activities. Currently in the market, there is a lack of progress in my specialized space that has to do with towing ropes. The need for advancement is there as it is incredibly annoying to have to untangle a rope for 5 minutes prior to actually engaging in fun. Also, it is unsafe to leave the helm of the vessel to adjust or switch a rope for someone. Thankfully, with my product you just adjust the length of the rope with just a push of a button. Some of the forces in the environment creating this opportunity would just be technological advancement in general. Across all sectors, technological developments are being made to drive efficiency and safety. Initially, my market was geographically described as being mainly in Florida but as this project has progressed, we have expanded to nearly every coastal state that operate boats. I believe this opportunity is huge because products that truly drive change and progress make peoples lives easier. My product does just that. The fact that there is not a product like mine on the market further ensures my confidence in this product. That is definitely the most interesting topic surrounding my product, how much longer will the window of opportunity be there? I don't think that there will be an opportunity like this again for quite some time. Revolutionizing a product and changing the industry only happens at specific times.

My product, EZ Tow, is a device that holds, organizes, releases, and retrieves towing rope when engaged in water sport activities like wake boarding, skiing, skurfing and tubing. The rope is held inside the device in a circular position for easy deployment and retrieving. All it takes is a push from one of three buttons to use my product. Either choose deploy, lock, or retrieve on the device and you are ready to use. My product takes the hassle out of untangling and keeping the rope organized. It also prevents distractive driving by the operator of the boat and my favorite feature is that is could potentially save you thousands of dollars in engine propeller repair. A common problem with average towing ropes is that they sink when the rope gains slack, therefore causing the rope to sink and get caught in the engine. My device ensures tension is always on the handle whether or not a skier is holding onto the rope. For the beginning part of our product execution, we plan on only offering the device so that people may choose to use their own rope with it. Later we will start offering rh the bundled product with our designed rope. The goal of this strategy is to not intimidate the customers with a high price so we think our price is now attractive enough to entice a purchase.

I believe there are several advantageous reasons to switch to my product and I think it will be very easy for consumers to switch to my product after they realize that how much time and money my product saves them. One of the reasons I think customers will switch to my product is that it saves them time and hassle. That is a staple characteristic of a great product. I assume my competitors will be other outdoor activity/sports companies. I believe that a majority of those companies are focused elsewhere in retail clothing and things similar to that. I believe packaging and price points play the biggest role in defining my business concept. I plan to package the product not in a box and have a test or fake rope in the device already so the customer can actually visualize how the product works and can be used. The price point is also crucial because sometimes that is the first thing a customer notices in a product so you must get past that barrier. I would operate one warehouse or factory but I would honestly outsource the manufacturing of the product to a foreign firm to save on production  and operating costs in the initial years until I was able to afford a factory in the U.S. I think twenty to thirty employees would be an efficient amount to begin with. As we expand to different territories, the number of employees will increase as well.

Besides our innovation being our most important resource, we will have patents that will prevent any other firm from copying our design or success. For my product, we see an incredible opportunity in the market to expand my products use for commercial applications. We think we can use my product to replace all docking ropes used in the marine industry, commercial docks, marinas and residential docks. Simply attach rope to the cleat on the dock and adjust the length with the button and then lock in place when needed. Assuming the launch was successful, I hope to be a presence in all coastal states in the US and hopefully our commercial application plan for the product is in place. I would love to command operations in Florida because thats where I think we will achieve the most exposure and success. Since my passion is boating and being out on the water, I could not imagine a better venture to find success. I think being able to really capitalize at conforming the use of my product to suit commercial demand will revolutionize the marine industry entirely. Imagine a form of my product or technology on every structure or property neighboring a body of water. Instead of tying knots which sometimes can be tied incorrectly, you can use my product that simply hooks and attaches to the cleat on the properties dock or even other boat. No more tangled ropes, confusing knots, and time wasted with my product. Being able to enjoy a career that generated from my idea would be a dream come true but understand that it is very difficult. The market is constantly evolving so as a business you must keep with the trends.