11A – Idea Napkin No. 1

1)    I don’t have many talents, if any at all. I was never really good at anything besides shopping and gossiping. In all seriousness if I had to pick a talent of mine it would be multitasking. I have gone and still go to school full time while also working full time and I have two children to add into that mix. I am a bartender and restaurant manager and transferred to UF with a 3.9 GPA—which I’m pretty darn proud of. Having worked in a restaurant for 10+ years and having been a part of a family pizzeria business I have my fair share of how restaurants run/work. My aspirations are to become a successful financial analyst or financial manager (still undecided). If I were to actually start a business with this subscription box, I see it tying perfectly well into my hectic crazy life. At that point I would be done with school and I would also be “unemployed” so all of my time would be devoted to my family and the business. It would be like how I grew up, watching my parents run a business, but now my children would be watching me run a business.

2)    I am offering a customizable subscription box that offers a wide variety of contents to choose from, rather than having individual subscription boxes per each lifestyle sector (makeup, cooking, lifestyle, entertainment, etc.)

3)    I am offering this business to customers of all demographics and psychographics. My main focus would be towards millennials and starting off more geared towards women. The vast majority of people who currently have subscription boxes are 20-30-year-old women, so I would want to promote to them in order to meet their unmet needs. Most currently have multiple subscription boxes that they aren’t utilizing to their full potential.

4)    This solution is valuable to these customers because they’ll potentially be saving money if their subscribed to just on subscription rather than multiple subscriptions, and they’ll be able to personally choose every item they receive rather than receiving some unwanted items.

5)    The fact that it a completely customizable box sets me apart from others. Some subscription boxes allow you to choose the contents, but they do not offer the variety. For example, Ipsy allows you to pick one item each month, but it is always a makeup item. Hellofresh allows you to choose all of your items you receive, but all of the offerings are cooking-related. My subscription box will allow you to choose from many different sectors.

I think all of these five elements fit pretty well together. I am a subscriber to multiple subscription boxes so I know from personal experience what I like/dislike, and I think people similar to my age would also agree with my beliefs. I also think that my customizable box does really meet an unmet need because no one else offers anything like this. Subscription boxes are really growing in popularity especially now with COVID so I think this is a great opportunity that would be very successful.