How our business addresses an opportunity/problem we have identified
Our company addresses two problems at once, consumer electronics companies inundated with returns, and e-waste plaguing our planet. In the simplest terms, our business is a consumer electronics firm which approaches other consumer electronics companies to acquire their returns. We then re-purpose and repackage the hardware within those returns, and the new product back to consumers. This not only relieves companies of profit losses from returns, saves companies money/time from having to rent warehouses and movers, allows consumers to have access to a new product at a lower price point, and also helps the environment as many consumer electronics are simply thrown away into the ocean contributing to an already horrendous amount of e-waste.
Our target customer and market
We have two target markets, consumer electronics companies with a high amount of returns and consumers who simply want a new and unique product based on the returns of an existing product. According to Accenture, “When you tally up all the costs associated with returning consumer electronics items: receiving, assessing repairing, re-boxing, restocking and reselling the merchandise – it amounts to $16.7 billion annually.” We can potentially relieve companies of millions of dollars profit losses with our business model. The market is very real as data from OnProcess Technologies show that the average cost of a returned product per unit is $217.00. Customers will also desire our products because we’ll be able to produce a product of similar quality based on these returns, thus saving them money and helping the environment.
Our company's revenue/financial model
The main source of our revenue will mainly come from the products we sell based on the returns we acquire from other companies. Currently, we sell Bluetooth stereo speakers made from the returns of Aiwa Exos-9 stereo speakers. At this time, we will be selling them on our site once we have inventory, however in the future we plan sell the new products back to the companies on the back of their brand. We will also offer services for customers to make their own custom speaker housings for an added price and then offer those designs as premade settings for people to purchase with a royalty given to the original designer. Along with this, we also plan on allowing customer to send us objects which could potentially serve as a housing for speakers, such as a suitcase or a trunk. Our business looks to expand to use other technologies and offer similar services along with them.
Designed for Beauty
Built For Utility