20 Business Ideas - Matt Pitzer AEM 120 October 28, 2007 20...

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Matt Pitzer AEM 120 October 28, 2007 20 Business Ideas Idea #1 Product Description A tool that you could use to get old hair out of a hairbrush. Targeted Market Almost anyone that brushes their hair but especially women. Teenagers that are worried about germs from dead hair would be a good target customer as well. Price Point $2 for each hairbrush tool. Revenue Model The income stream would be per unit sold because you wouldn’t make money on the product after it is bought by the customer. Initial Investment You would have to invest in developing the design of the tool originally and then you would have to invest in means of production and marketing. ~$50,000 Estimated Operating Costs Operating costs wouldn’t be very high because you would only have to buy the materials and continue to pay for labor/distribution. ~$20,000 Idea #2 Product Description An extendable mirror that comes of out the ceiling so that you can see the back of your head when you are combing your hair.
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Targeted Market Women who spend a long time doing their hair. Price Point The product could be sold individually in home improvement stores or could be marketed to contractors that build houses so they could install them into the home when they are building it. The product would probably be somewhere around $50. Revenue Model The income stream would be per unit sold. Initial Investment You would need to invest in initial development as well as production. ~$65,000 Estimated Operating Costs Operating costs would include production costs and distribution costs. ~$30,000 Idea #3 Product Description A digital device that acts as an interactive cookbook. With the device you could log on to a website and download new recipes. Targeted Market People who don’t have jobs in the marketplace but work at home and have time to cook. Price Point The product could be sold for $120. Revenue Model Revenue would be per unit sold but you could get food industry companies to develop recipes for the website and use it as a form of advertising. Initial Investment
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You would need to invest in initial development of the product and the website. ~$1,800,000 Estimated Operating Costs Operating costs would include production/marketing costs. ~$700,000 Idea #4 Product Description A scented spray that smells like a fireplace that you could spray around a fake fireplace so that it smelled like a real fire. Targeted Market People with gas fireplaces that miss the scent of a real fireplace. Price Point The product could be sold individually in stores but you could also form a partnership with companies that install gas fireplaces. Revenue Model The revenue model would be per unit sold. Initial Investment Most of the initial investment would go towards development of the product and marketing but initial production would require capital as well. ~$120,000
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This note was uploaded on 10/22/2008 for the course AEM 1200 taught by Professor Perez,p.d. during the Fall '06 term at Cornell University (Engineering School).

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20 Business Ideas - Matt Pitzer AEM 120 October 28, 2007 20...

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