LuminAid enterprise

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Freshman (College 1st year) ・Business ・MLA

When you think of light, electric light is what you think of. However, the pain associated with the electric lights is alarming. Electricity loss, volatility and cost of electricity are important. A solution to these problems is LuminAid Enterprise.

Product

LuminAid offers to homes, government offices and commercial buildings inexpensive, durable and excellent solar re-charging lamps. The solar rechargeable lamps are waterproof and are like the lantern, light in mass, lightweight and ultraportable, to inflate diffuse light for longer hours. A rechargeable battery, solar panel and multi-chip leadlight are featured in LuminAid light. The selling of products will be through small business outlets and some big outlets like the supermarkets. The invention of LuminAid was by Andrea Sreshta, renowned architect, and Anna Stork, architect, and developer of new technologies, on behalf of LuminAid Enterprise and its customers. 

Target Market

Within two years of operation, LuminAid Enterprise plans to stretch its business to neighboring countries this will follow a successive establishment of several independent outlet stalls within all counties in the country. The products will be in outlet stalls near households and large malls. The target market will be the general population. 

Why LuminAid?

There is rapid growth in solar light companies. The new LuminAid Enterprise introduces a more refined, accessible available and ultraportable solar light priced at $49.99 for PackLite Max 2-in-1 Phone Charger, $24.99 for PackLite Spectra USB and $19.9 for PackLite Nova USB. The LuminAid comes with an offer of $10 for a single unit meant for donation and that $25 for two where one is for giving out to residents of other countries. 

Special Feature

The distinctive feature of LuminAid Enterprise will entail conducting technology innovation challenge within institutions and award the most innovative ideas.  It will not only champion creativity but also attract the general public to the product.

Management Team

LuminAid Enterprise has two leading co-founders, Andrea Sreshta and Anna Stork both of whom have experience in technology advancement. Both are architecture by profession and have worked for various institutions such as department defense on matter technology. 

First Screen

Strength of the Business Idea

There is a high potential of the idea taking advantage of the environmental trend. It will also solve the existing problem in the society and addresses unfilled gaps in the current marketplace. Its entry into the market is a timely due continuous problem encountered by customers that it ought to serve.  The idea will highly add value to end users who feel dissatisfied with other existing forms of solar lighting technologies. The scheme requires customer not to change their primary behavior or practices. 

Industry Related Issues

There are few numbers of identified competitors in as much as this business in under emergence phases in industry’s life cycle. The industry growth rate is promising since its products are of importance to customers. Its operating margin will be high. 

Target Market and Customer related Issues

The target market for the new venture was successfully identified and able to create barriers to competitors considered. The purchasing power of consumers was high, and the ease of making them aware of the product found to be high. The growth potential of the target market was also high. 

Founders-Related-Issues

The founders have experience, skills and extensive network. The new venture therefore actively meets the founder’s aspirations and goals.

Financial performance

The initial starting capital was moderate with more than three numbers of revenue drivers. The best time to break even will be in one to two years. The financial performances of similar business were high, and it had a high ability to fund the startup expenses from the personal fund and also fund service and product development.

Overall potential

The strength of the business idea, industry-related issues, target market and customer related issues, associated founder issues and the comprehensive evaluation showed high potential for growth and expansion of the business.

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