This Business is Minty!
I am that flower, That mint. That columbine. ~William Shakespeare
Mint of Champions (our tagline) reflects the quality of the products and our unparalled/one-of-a-kind website.
The idea of my startup is to bring all types of farmers growing varieties of mint like Peppermint,Spearmint,etc. together and sell it on a same platform/retail stores, with various edible products that carry ‘mint’ as an ingredient. I’ll be including merchandise that will be ‘MINTY’.
Different mints have different and unique flavours and this is the major reason they have a huge market demand. People like chefs, bartenders prefer spearmint for savory dishes and peppermint for desserts.
Big Sky Brands, is an American candy manufacturing industry. My starup will be offering more than just candies, like herbs, and merch that will totally be mint oriented.
Our site will cover people of all age groups. Bartenders and snack bars also need different ypes of herbs for drinks that are tough to get, and can make a whole difference in taste. We will interview people to see what other similar demands they have from Mint Sync.
Merch will be put online by buying it from small scale producers which will be having our brand name. Website design is under process and Python, PHP and Java are being used for it. Different algorithms are being designed for giving the user an immense experience.
A basic order and delivery procedure will be followed for convenience of both supplier and buyer.
Benchmarking will be done for improvement.
Following ways are also useful in their own ways:
- By observing trends
- Gaps in the Marketplace
- An early start to testing
Total budget of our startup will be around 15,00,000 inr for handling the company till we get some investors. We’ll be getting investors from cleartax.com and many other websites where we’ll be sharing our idea.
Most of our products will be “as cheap as water”. Mint herbs prices will vary with the feasibility in India, cost of materials to be used, cost of labour. Same goes for merchandise and other stuff. Method of pricing will be ‘market penetration pricing’.
Considering the costs and cash flow, advertising will be done through magazines and internet. We will be developing an action plan and a timetable that will give us plenty of time to meet advertising deadlines and giving ourself enough time to create effective advertising for occasions.
While starting a new business, we also be covering risks and its prevention as much as we can to make it a sustainable and growing startup.
The uncertainties inherent in weather, yields, prices, Government policies, global markets, and other factors that impact farming can cause wide swings in farm income.we’ll also consider inflation or it can lead to our bankruptcy. Inflation is when the supply of money is greater than the demand for money.
Five general types of risks that will be most important for our consideration:
- Production risk
- Price or market risk
- Financial risk
- Institutional risk
- Human or personal risk
Before implementing startup, following processes will be checked-securing intellectual property, choosing a workplace and applying for an accelerator program.
Testing of our website will take around 2–3 weeks, for checking compatibility with different types of devices/browsers. Performance testing will be done. After this, we’ll start implementing of our startup.
