Assignment 29A Venture Concept No. 2

Assignment 29A-Venture Concept No. 2

EQUINE MEMORIAL SOLUTIONS

Opportunity:

·       I am offering the service of whole horse cremation to highly emotionally and financially invested horse owners. My service includes ethical and respectful removal of remains that can be prearranged to coordinate with euthanasia or is available as needed during regular business hours seven days a week.

·        The remains will be transported to a local facility where they will be cremated without dismemberment. The cremains will be available to the horse owner for memorial purposes along with various urn options.

·       For horse owners unable to afford the expense of private whole horse cremation I can offer alternatives. The option of communal cremation will be available for a reduced fee, the cremains will then be spread in a designated memorial garden.

·       As long as disposal is available at local landfills, we will offer transport services to accepting sites and will work with counties to provide an area separate from household refuse.  

Innovation:

·      My service will be the first in this area to offer this option to owners. Impending regulations limiting or banning home burial for the purpose of preserving soil and water quality will force owners of deceased horses to dispose of remains elsewhere.

·       Currently, landfill or rendering plants are the only other options. For people who are willing to spend hundreds of thousands over the lifetime of these animals, a fitting memorial is a given. This community operates on word-of-mouth and shared experience, a positive cremation experience would trigger a chain of referrals.

·       Although this is a service that is required in a limited capacity per individual, the size and scope of the community ‘will support the business.

·       I am offering retrieval and transport of deceased horse a facility for incineration for the approximate fee of $2500 per average to large horse.

Venture Concept: 

·      Customers are expressing frustration with a lack of removal options. they have the ability and the willingness to use this service. Switching for my target market will be uncomplicated

·      Price points: this will be calculated according to the average size of the animal (lbs). as the only provider, I can determine pricing without the influence of competitors based on the contribution margin-based model, with some premium pricing for elite markets.

·      Distribution: The option of whole horse cremation is aimed at the horse owner who sees these animals not just as livestock, but as pets or even family members. These are middle to upper-class individuals that have the income to support this type of animal care. This area is home to horse lovers that have spent hundreds of thousands to own their horses, for their pure enjoyment or as an investment. Aftercare that is proportionate to the upkeep provided throughout the animal’s life is a requirement for these owners that are not being met by the currently available options for removal. These racehorse owners, breeding farms with prized stock, show horse owners, and backyard horse-people are influenced by their community of fellow owners and seek to follow norms in the areas of animal care and environmental responsibility.

·      Customer Service: This service meets the needs of loving horse owners, ethical racehorse industry standards, and environmental stewardship practices. Customer service, compassion, and reputation will drive referrals

·      Location: Marion County Florida, Home to over 80,000 horses, that number is growing.

·      Execution of service:  These are the facets of the service that I am offering:

o   The passed horse will be picked up by experienced horse handlers, the remains will be respectfully loaded and transported to my facility.

o   The animal will be incinerated, whole and the ashes will be available to the owner for memorial purposes.

o   Horse owners will have urn and remembrance options at varying price ranges. 

o   Removal of horse remains and transport to a local accepting landfill will be offered, understanding that cremation cannot be an option for all owners, respectful treatment, however, should be available to all. I will work with landfill management to be sure that the area for animal disposal is separate and maintained ethically.  

·                Employees:  I’m estimating around 6 employees initially

Operators of incinerator

Driver

Retrieval specialist

Administrative assistant

Part-time marketing

Contracted: accounting, legal, and mechanical service providers

Unfair advantage

 The combined elements of my personal identity, experience, intended service, local demographics, and my unique qualifications fit together for a solid business concept. My core competencies are in the area of horsemanship, networking within this niche community, compassion, empathy for horse owners, 27 years of operating a business within this community, and my detail-oriented strategic approach to developing and maintaining that business. I would be the first in this area to offer this service. I am recognized in the community for ethical, honest work practices and can use my existing connections with owners, trainers, veterinarian clinics, and county offices to launch and run this business.

What’s Next?

EXISTING MARKET: a sensible service to add for existing customers is to expand into small animal cremation. Horse owners, particularly the sector that I am targeting, tend to have dogs also. Not scruffy outdoor farm mongrels. Dogs that are treated better than family members. Dogs that sleep in their beds, ride in their laps when drive, sit in the seat of the shopping cart at Publix. If these owners have a wonderful impression of their horse cremation experience, perhaps they will send their little canine companions my way after they pass.

Upscale memorial boxes and urns would be obvious add-ons, as well as photography or art integrated into the keepsakes.

NEW MARKET: My next target market would be larger facilities like Florida racetracks: unfortunately, catastrophic training or racing accidents result in a need for removal and documented incineration. Medical waste from offices and labs could be a way to make use of facility downtime. These could be compiled and stored to destroyed en masse.

Geographic expansion into areas of similar horse ownership concentration such as Kentucky, California, and the Northeast region will be

Feedback:

·       Great idea

·       Capitalize on being first in the area to offer a solution

·        Expand offering to broader economic demographic

·       Market towards veterinary professionals

·       Is this in conflict with my current operation and my historical experience in the community?

How I’ll Adapt:

·       I will lean into the “First in this Area” advantage of venture

·       I will offer services that are both a step up and a step down from my target market.

·       When marketing, I will be sure to engage other service providers within the local industry.

·       This business will exist at a separate location from my current training business.

·       I will educate area horse industry leaders referring to existing needs. I will stress the responsibilities and opportunities for internal stakeholders to meet this need from within.