Free Business Idea of the Week
Jan 29th, 2008 by admin
While searching for a unique luggage belt for my son’s upcoming trip to Spain, I discovered something. The options are far and few between. I finally settled on a basic red and blue strap, that will hopefully stand out from the crowd. If only there were more to choose from… <hint hint> Turn this gap in the market into an awesome business opportunity by creating a line of personalized luggage belts. You can buy the basic belts wholesale and add a special touch such as initials, jeweled accents, sports team logos, etc. Again, you can outsource the decorative work or do this yourself. Here’s what’s involved:
Approximate Start-Up Costs: $6,000 or under (cost of initial order of basic belts, materials and embellishments (if you are going to tackle the decorating), e-commerce enabled Web site, telephone system, fax machine, packaging supplies, business cards and miscellaneous supplies)
Potential Names: Luggage Suspenders, Air Belts, TravelSecure, Bag Belts…
Barriers to Entry: Alternative travel accessories, market demand, economies of scale enjoyed by larger manufacturers, advertising…
This type of thing would be nice to have. My duck tape is not attractive on my luggage, but it is what was out there. This could go over well with the high end market.
I am trying to think of something it could double as once you get to the hotel… Dual purpose item.
Hmmmm…. Good question. You know, another idea is to manufacturer the luggage with a built-in belt system (on the outside) that pulls out and retracts.
As far as something it could double up as at the hotel… What about a secret zip compartment for storing something or a part that detaches and expands that could be used as a money belt? I’m not sure. This would make a great brainstorming session!