4
Value Proposition
For the business model to be successful, the founders would provide a website that is very simple to the point that first time users of the website would be able to fully utilize it without any helps or tutorials. Most people does not want to have the same bag with someone and makes it awkward to them seeing someone has the same type of bag, with the product and service that we offer, you would not need to worry about that awkwardness anymore. Customers would be able to customize the bags that they would purchase so that their would not be of similar bags out there with someone else. As for the target market, the focus would be to students since they are the ones who would want to buy backpacks and at the same time be able to customize them. Backpacks are mostly being used by students because of the convenience that it brings with wide and a lot of compartments inside the bag. When traveling in long distance, using backpacks is the most comfortable compared to all other bags because it has two straps to put onto your shoulders. On the other hand, different types of bag like athletic and duffel bags are hard to carry because it only consist of one strap which would be painful to your shoulders.
Revenue Model
All the products that would be offered would be posted online on its website. Starting your own business online would be the wisest thing to do for start up business since you would not have to pay rent monthly. With the current generation, the product/service that is being offered would be more convenient if it was posted online. Accessing the website would be more convenient because they can easily customize the bag over the net and be able to compare what they have done.
Market Opportunity
There has been a wide variety of backpacks that are being sold in the market but there is not much sellers that is offering customization of the bags. Customers can play around and use their creativity in selecting the design of their bags. For example, Nike ID is one of the biggest customization of products but mostly it focus on shoes. Many customers wanted something that is unique while at the same time has the benefits of designing it on their own.