Assignment 24A- Venture Concept No.1

Business Name: Nic Free Vape

Opportunity

            Generations before ours had nearly eradicated the use of nicotine containing products and the long ruling addiction to nicotine that had plagued our society. But the introduction of vaping products like JUULs and Puff bars allowed this habit to make a comeback and be worse than ever. Although these products are advertised as safe each nicotine containing pod has the same amount as nicotine as a pack of cigarettes. And because these companies target young adults ages 18 to about 25 they are the ones impacted the most. These products have also become very popular among high school students who become addicted before even graduating. From this I see that there is a need for a vape product that does not contain nicotine nor does it have toxins harmful to the body. Although vape is not something that should be promoted it should at least not create a lifetime addiction and be harmful to one’s body. Because most of the people using JUULs and Puff bars now are in college I would focus on this demographic however because people who use tobacco products are often looking for alternatives too we could also focus on the older demographic as well.

Innovation

            My product will be innovative because it will be the first vape product that does not contain nicotine or other toxins harmful to our body. Of course this will take some testing and trials which will be headed by researchers and scientist to ensure everything is legitimate. However, another aspect of my product is providing seminars at both colleges and high schools because these are were the majority of JUULs users come from. For a fee I along with health professionals will educate these students on what they are actually putting in their bodies and encourage them to try our alternative instead. For my product I would like for its base price to be about $25-$35 dollars because I understand that the demographic I am targeting is not the most prosperous.

Venture Concept

            Above in the opportunity section I described how there is a need for safe and non-harmful alternatives to vape products like JUULS and puff bars. My product will fulfill this need by giving them that alternative and also provide them with accurate information so they can make an informed decision whether for future use or now. I think this product will be readily accepted by the public because people have begun to see just how bad they are for your health. Children have been hospitalized because their lungs collapsed due to these products and left lifetime damage on their lungs. The only potential weakness I see is that many people don’t even realize that JUULs contain nicotine or just how harmful they are so getting people to use my product might be a bit difficult. Because of who I am targeting and who my customers will be I know that both pricing and location will be very important aspects. I can’t have a very expensive products or else these college students will just continue using what they’ve been using and it’s also imperative that I get my product in these smoke shops that are close to campuses. I wouldn’t have an actual business because I would be selling my product in shops owned by someone else but I would have to manufacture my own product and I would need a distributing center. So of course, I would need employees working the floor, managers who watch those employees, and region manager who overlook distribution. My hope is that once this venture is up and running within the next 10 years my company could help to end nicotine containing products and join forces with those trying to bring an end to the big tobacco companies.  And hopefully I’ll be able to step back and have less control so I can focus on my other ideas or anything else I would like to pursue.