Venture Development Proposal: Bamboo Toothbrush Business Opportunity

This report presents a venture development proposal centered around a bamboo toothbrush, emphasizing its eco-friendly advantages and potential for reducing plastic waste. The introduction highlights the environmental benefits of bamboo and the proposed business idea. The report analyzes market opportunities, the business model canvas, and the unique value proposition, focusing on customer segments, market reach, and competitive analysis. It identifies challenges, such as the use of nylon bristles. The business canvas model details key partners, activities, resources, value propositions, customer relationships, channels, and segments. The conclusion underscores the venture's potential to offer an eco-friendly alternative to plastic toothbrushes and its contribution to a more sustainable future. The report also includes references.

Venture development
proposal - reflective
writing

Table of Contents
Topic Page
Section 1: Introduction
1.0: Introduction to idea and also its
proposed development
1
Section 2: Opportunity Formation
2.1: Problems perceived in market 4
2.2: Origins of entrepreneurial
opportunity
4
2.3: Business Model Canvas 5
Section 3: Opportunity Development
Section 4: Conclusion
4.0: Conclusion 9
Section 5: REFERENCES
5.0: REFERENCES 9

SECTION 1 - INTRODUCTION
Venture development is a term that is being described as activity of economic development that
is being focused on using of best practices and also activities of business mentoring that is
experienced (Abor, 2017). It also includes investment of capital that helps in creating new
ventures that leads in creating economic wealth of a particular state or country. Thus, in this
report introduction of new product in terms of bamboo toothbrush has been discussed. In this
report, introduction to new idea and proposed plan is been discussed. Further, opportunity
formation is analysed with help of Business canvas model along with future plans.
1.0 Introduction to idea and also its proposed development
The idea that I generated is to ditch the plastics and move further to bamboo as it is eco friendly
and leads in saving the environment to great extent (Dudin and et.al., 2015). This idea is being
proposed as it has been analysed in a study that shows that from all the materials that is used,
bamboo is termed as least hazardous in terms of waste. This is because it can be recycled and do
not have any type of problems related to disposal. The roots that are involved in bamboo helps in
controlling the soil erosion as it leads in creating water barrier. In addition to this, I also analysed
that proposing bamboo toothbrush is an excellent choice that may help in maintaining pollution
free environment. These toothbrushes are eco-friendly as it contains following elements-
 They are non toxic and BPA free
 They are usually made up of sustainable and organically grown bamboo.
 They are also finished with quality and dental grade bristles that can be easily recycled.
 These bamboo brushes are biodegradable.
 They are also naturally antimicrobial.
I have proposed this plan of selling bamboo toothbrush in order to save the environment from
natures harm and have a long living and healthy surroundings for the people. Further, I have also
adopted unique value proposition in order to sell this toothbrushes so that large number of
customers are attracted towards a particular brand. Unique value proposition is termed as a short
statement that has been encompassed the benefits that is related to services that has been
provided and also helps me in differentiating myself as compared to competitors that are
available. Thus, to set unique value proposition in my brand, I will have to adopt few ways that
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will lead me in figuring out unique value proposition that things has been discussed as per below
context- Focus on customers- I will first have to analyse my customers that are willing to buy my
product or service that is bamboo toothbrush (Hallen, Bingham and Cohen, 2016). Later,
I will try to market to the target or potential market rather than marketing to everyone. If I
try to market my product to all the customers that are available than noise gets shattered
and no one concentrates on my product. This also leads me in wasting my maximum time
and huge amount of resources. Therefore, I will have to concentrate on targeted
customers, their information related to demographic, income, statistics, age and
accordingly set value proposition. Later I will have to try to run it in small group of
customers in order to ensure that it come across with those consumers that I actually want
to reach.
 Reaching new markets: It is another major opportunity which the organisation and the
business will receive. Reaching new markets can help the organisation to gain new
customers and tell them about the product. The bamboo toothbrush is a product which
will easily gain attention because of its natural identity. A lot of people today make use of
products are not clean and safe for the environment but the bamboo toothbrush is safe
and secure. It can help the organisation to reach new markets and gain new growth
altogether.
 Buying perception of a customer- I will have to find myself separate from my
competitors and will also have to know who they are and what they stand for. I will also
have to research on what competitors are trying to sell, their vision, mission and also their
values. This identification also includes type of workers they have. I cannot make any
type of mistake by assuming that there is no competition in the market of eco friendly
toothbrush. While writing unique value proposition, I will also have to find about
connection of customers in order to buy my products rather than my competitors.
 Solving needs and pain points by product or services- after analysing the perception of
customers in order to buy a particular product, I also had to analyse that how my product
can solve the problem related to environment and also about pain point of customers. I
will also set price in such way that it will be termed as affordable than that of competitors
products. Every business supplies the best product. Therefore, I have to focus on
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producing product of good quality and set value price in such way that is easily
affordable by customers. This will also help every target group even with low income to
enjoy that particular product.
It has become obvious that Zero Waste management and Minimal lifestyle is therefore gaining
more and more momentum in the whole world recently. There is a huge popularity of a product
that is basically environmental friendly. While introducing this product I started receiving
enthusiastic support from beloved consumers and it was just a start.
I started a campaign that is related to Quit Plastic- brush Bamboo. This helped me in listening to
feedbacks of customers related to their journey of researching and also purchasing ecofriendly
products in order to prevent threats to out holy environment. Thus, I am very much proud in
order to gain great benefits and also design that attracted huge customers. There are many
benefits of a bamboo product as follows-
 It is made up of top quality having complete anti slip bamboo surface.
 100% natural without any type of hazardous chemicals and offers natural anti-bacteria
property.
 It also leads in reducing plastic dump into ocean.
 It's the largest brand in terms of green product.
 It is sustainable and environment friendly
 It is pure and safe for people to use
As it has been analysed that plastic toothbrush are the second largest plastic waste that is being
generated after the plastic bags (Joyce and Paquin, 2016). Each and every part that is involved in
toothbrush including handle and bristles is basically made from petroleum based plastics which
do not biodegrade for thousands of years. It has also been proved scientifically that the first
toothbrush that has been made first still exist on this planet somewhere. My main mission is to
help in reducing plastic waste in the whole world. I wish to sell maximum number of bamboo
products as compared to plastic ones. This is because bamboo is made up of strong,
environmental friendly, sustainable and renewable material and there are many things that can be
done with bamboo. This bamboo toothbrush is manufactured as fully biodegradable which is
made up of Moso Bamboo that is available in China. The main aim of manufacturing this
product is to create a product that may help in reducing pollution and also in creating new shift in
market towards using bamboo.
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SECTION 2 - OPPORTUNITY FORMATION
2.1 Problems perceived in market
Establishment of bamboo toothbrush in UK and Europe can also have some disadvantage that
comes with choosing bamboo (Kiss and Barr, 2017). I have introduced this product for better use
by consumers to evaluate all elements of a product and make the best option for themselves.
When I came with this idea in Europe and UK, I expected that there are many benefits of using
this toothbrush but I was wrong. Through studies and research and issues that I am experiencing
now I understood that, toothbrushes are recycled into plastic lumber, which does nothing to
decrease the demand for virgin plastic to make those yogurt containers. Many complaints have
come till now from various customers that, they have found some of the bristles dislodge after
the first week of use. The bamboo toothbrush bristles are made up of nylon and it is discovered
that they are presently not compostable. Bamboo toothbrush bristles is made from Nylon-6
which is claimed that it is not biodegradable and this is the biggest issue may entrepreneurial
venture is facing right now in the market.
2.2 Origins of entrepreneurial opportunity
Entrepreneurship basically occurs when individual acts in taking advantage of a profit
opportunity that presents itself in a economy (Milenković, Andrašić and Zulfiu, 2015). In its
simplest form, I might notice that one person is willing to sell something in less than other
person is willing to pay for that particular product. So here, entrepreneur act as a middleman as
he basically gains profit from buying at lower price and later selling the bamboo brush at higher
price. Here are some sources in terms of innovative opportunity as included-
 The market place is one of the number one area where I can look for opportunities. Thus,
I will have to constantly study the market. I will also have to analyse about what has to be
done for converting my success into opportunities.
 I will also need in order to identify weak spot of a process and correcting or redesigning
them. This solution is actually task oriented that means source of innovation comes from
within the capabilities that are being existed and also about various ways in order to do a
particular business.
 I may also have to keep a look continuously on changing structure of industry as well as
of market.
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 The origin of this opportunity was not in my mind. I have used my toothbrushes and have
learned recently regarding other company's toothbrushes which are made up of plastics.
 I introduced this idea on the belief that little changes can make a big difference for
customers health and the planet. Brush with bamboo's goal is to replace plastic
toothbrushes with the ecological bamboo alternative.
 The toothbrush which is made of bamboo can be easily brought by the customers across
the world because they can be easily replaced with plastic brushes
2.3 Business canvas model
Business canvas model is a strategic management and visual chart with elements that helps in
describing firms product value proposition, infrastructure, customers and finance (Nogueira and
Alsos, 2018). Thus, it includes following elements-
Key partners
 Siddharth Agarwal (CEO)
 Aditya Chandhok- (CMO)
Key activities
 to use environmental friendly product
 save environment
 healthy life to population
Key resources
 It involved Moso bamboo from China
 Nylon 6 for bristles
 Automated machinery
value propositions
 to give substitute to plastic toothbrush by bamboo toothbrush
 It is a social element
 Personal element is used in order to customise toothbrush
 Giving alternative to people and providing with cheaper toothbrush as compared to that
of plastic ones.
Customer relationships
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 I started online campaign
 I can also update websites that promotes with various ideas for people to recycle bamboo
brush.
Channels
 Websites can be used to promote bamboo toothbrush
 Retail vendors
 e-commerce
 e-retailers
 social media advertising
 tele promotions
 campaign to use eco-friendly toothbrush
Customer segments
 I created awareness among people that plastic is harmful for environment and health
 Demonstrate benefits that is related with bamboo toothbrush
 I also tried to provide message that we must try to create world a better place that makes
the environment safe for future generation.
 Target market is broad as toothbrush is essential on daily basis.
 Major departmental stores as Asda and Tesco.
Cost structure
 Cost is less than a dollar for producing single brush of bamboo.
 Per unit price varies from number of units that has been sold.
 The profit is measured as of 0.2 dollar on single unit of a toothbrush made of bamboo.
Revenue streams
 My purpose is to sell in high quantity with amount that is initially expected over United
Kingdom and Europe.
 The expected margin of profit is 25-30%.
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Key Partners
 Siddharth Agarwal
(CEO)
 Aditya Chandhok-
(CMO)
Key Activities
 to use
environmental
friendly product
 save environment
 healthy life to
population
Value Proposition
 to give substitute
to plastic
toothbrush by
bamboo
toothbrush
 It is a social
element
 Personal element
is used in order to
customise
toothbrush
 Giving alternative
to people and
providing with
cheaper
toothbrush as
compared to that
of plastic ones.
Customer Relationships
 I started online campaign
 I can also update websites
that promotes with various
ideas for people to recycle
bamboo brush.
Customer Segments
 I created awareness among
people that plastic is harmful
for environment and health
 Demonstrate benefits that is
related with bamboo
toothbrush
 I also tried to provide
message that we must try to
create world a better place
that makes the environment
safe for future generation.
 Target market is broad as
toothbrush is essential on
daily basis.
 Major departmental stores as
Asda and Tesco
Key Resources
 It involved Moso
bamboo from
China
 Nylon 6 for bristles
 Automated
machinery
Channels
 Websites can be used to
promote bamboo toothbrush
 Retail vendors
 e-commerce
 e-retailers
 social media advertising
 tele promotions
 campaign to use eco-friendly
toothbrush
Cost Structure
 Cost is less than a dollar for producing single brush of
bamboo.
 Per unit price varies from number of units that has been sold.
 The profit is measured as of 0.2 dollar on single unit of a
toothbrush made of bamboo.
 My purpose is to sell in high quantity with amount that is initially expected over
United Kingdom and Europe.
 The expected margin of profit is 25-30%.
isha
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SECTION 3 - OPPORTUNITY DEVELOPMENT
As I want to introduce bamboo tooth brush because the plastic tooth brush is not a good option
while on the other side, bamboo tooth brush is eco- friendly and biodegradable. But as per the
business Canvass Model, the key partner are the customers, stakeholders and the staff members
but on the other side, the resources are money. I think that this does not require any extra finance
and in order to support this, I can also use Ansoff growth matrix which help to determine the
exact target market. As I want to introduce this bamboo tooth brush in the market of UK and
Europe and for this reason the product development strategy can be beneficial for attracting
attention of large number of customers towards them. In this produce development sector, I can
choose one target market which is actually mentioned in business canvass model i.e. United
Kingdom.
I want to introduced this product and for this reason choosing the product development strategy
is quite beneficial because to create the new product and introduce that into existing market in
order to achieve the high growth is only possible if the strategy is proper (Sullivan and Ford,
2014). This further involves the extending a product whose range is also available for the
existing market. Due to this, the product is more popular only if the investment in research and
development to introduce that product in market and with more additional facilities and
advantages. If this strategy is applied then it is also quite beneficial for me in my future in order
to attract high range of customers towards them. Moreover, I will also enhance my promotional
techniques in order to attract high range of customers because I realized that to grab the attention
of many customers it is quite necessary to develop some unique strategy which help to attain the
high objective of the firm.
As I realizes that even by using product development strategy as a key channel and to attract
high range of customers and even to increase the sales, using this strategy is beneficial for me.
However, it has been analysed that there are some problems which may be faces and to
overcome this problem it is quite necessary to develop the strategy which help to let people know
about the need of introduction of new product by replacing plastic tooth brush. As this bamboo
toothbrush is made up of Nylon 6 bristles but it is to be recommended that If I use Nylon 4
Bristles which is more beneficial for people in order to let customers know about the actual
usage (Shim and Kim, 2018). Because its bristles are softer and quite gentle for the teeth as well
as gentle. Hence, I realized that using the bamboo tooth brush whose bristle are made up of
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Nylon 4 is quite beneficial for the people in order to clean their teeth and even this product can
be replaced by plastic tooth brush.
I come to realized the need of this bamboo toothbrush because the plastic brush are actually
made up of plastic material which cannot be renewed and hence, the product also cause harm to
the environment and moreover, at that time I realize that by using the material of bamboo in the
toothbrush will be more beneficial because it can be renewed but on the other side, at initial level
I actually use the bristle of Nylon 6 which is not good for gum and teeth as well and to avoid
this, it is recommended that using of Nylon 4 bristles because they are free from BPA and this is
an excellent choice and also consider the traditional method to clean the teeth. Even the packing
of the brush is also recyclable and it is also an antimicrobial. This also help to kill many
microbes as well as some harmful bacteria too. Hence, it has been analysed that using this option
is considered the most effective strategy which help to grab attention of many customers towards
them.
As this tooth brush also faces tough competition in market such that a strong competitor is in US
based firm names brush with bamboo and hence, I can also gain high competition by comparing
the pricing strategy. Because I also analysed that price of the products are directly affect the sales
such that if the product are in lower range then people are directly attracted towards a product
and on the other side, if the product are high in range then it reduces the sales. However, the
bamboo stick are easily available and the cost of this product are low as compared to US based
firm. If the comparative price strategy is followed by the firm then it will definitely attract wide
range or large group of mass (Ovans, 2015). From the above, it is to be recommended from
above, that using the Nylon 4 bristles and bamboo stick tooth brush is helpful for the business
and also to the environment as well as because plastic tooth brush are not good for the health as
well as to the people. It has been analysed that people generally preferred old type of tooth brush
but on the other side, there is a need to let people realize about the importance of the nylon tooth
brush. As they are eco- friendly therefore, it is recommended to the people to use such type of
tooth brush as they help to save the environment and protect it from getting polluted. As they are
more flexible to carry while travelling and having an ability of antimicrobial attributes they are
also considered one of the most natural tooth brush. I can also make the packing more effective
which help to attract the customers and create pressure among them in order to purchase the
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product. Having a natural quality in the bristles of brush that also help to attract or draw attention
of many customers towards them.
SECTION 4
CONCLUSION
From the above report it has been concluded that manufacturing bamboo toothbrush plays
efficient role in order to have a safety and healthy environment. It has also been concluded that
plastic brush harms the environment to a large extent so it becomes necessary to use bamboo
toothbrush. Thus, survey has also been taken in order to know the actual people that are
interested to use this product in their daily basis. In addition to this, future plans has been
discussed in this report, that helped me in analysing recommendations that I can adopt to get
succeed in my plan and make people use this bamboo toothbrush which is environmental-
friendly
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