PaletteVision

Startup Idea: A virtual reality tool that allows customers to visualize and compare different palette sizes before making a purchase decision.

Pain point: People are unsure about the palette sizes that Natasha Denona will release in the future, causing confusion and uncertainty among customers.

Categories
Beautyguruchatter Augmented Reality Virtual Reality E-Commerce
Idea Generated From
Reddit Post: Do you think Natasha Denona will release palettes in the midi format or in other sizes as well ?
Potential Monthly Revenue
$10800

Business Plan:

Virtual Reality Palette Comparison Tool

Overview:

Our business idea focuses on developing a virtual reality tool that enables customers to visualize and compare different palette sizes before making a purchase decision. This innovative tool will revolutionize the way customers experience and evaluate various palette options, providing them with a more immersive and informative shopping experience.

Target Market:

Our target market includes both individual consumers and businesses in the cosmetic, art, and interior design industries. These customers often struggle to visually comprehend the size differences between various palette options, leading to post-purchase dissatisfaction. By offering a virtual reality solution, we aim to cater to their needs and enhance their decision-making process.

Revenue Streams:

  1. Subscription Model: We will offer customers a subscription-based service to access and use our virtual reality palette comparison tool.
  2. Ad-Supported Model: We will collaborate with relevant brands to incorporate targeted advertisements within the virtual reality experience.
  3. Premium Features: Users can opt for premium features such as additional customization options or advanced palette visualization tools for an extra fee.

Marketing Strategy:

  1. Digital Marketing: Utilize social media platforms, influencer collaborations, and search engine optimization to reach our target audience.
  2. Partnerships: Collaborate with online retailers, cosmetic brands, and art supplies stores to promote our tool to their customer base.
  3. Word-of-Mouth: Encourage satisfied customers to share their experiences through testimonials and referrals.

Financial Projections:

  • Monthly Subscription Fee per User: $10
  • Expected Monthly Users: 1000
  • Ad Revenue: $500 per month
  • Premium Features Revenue: $300 per month

Estimated Monthly Revenue:

Total Monthly Revenue = (Monthly Subscription Fee per User x Expected Monthly Users) + Ad Revenue + Premium Features Revenue Total Monthly Revenue = ($10 x 1000) + $500 + $300 Total Monthly Revenue = $10,000 + $500 + $300 Estimated MRR: $10,800