2014 Elevator Pitch Winner, University of Dayton Business Plan Competition

University of Dayton
31 Oct 201401:01

Summary

TLDRShake-N-Bait aims to revolutionize fishing by offering a universal lure that mimics struggling freshwater fish, eliminating the need for multiple lures. With a vibrating DC motor and unique coloring, it appeals to a wide range of fish, promising cost-effective fishing. The company seeks a $50,000 investment for production and marketing, with a projected 2X return in three years. Initial marketing will focus on trade shows and retail chains like Gander Mountain and Field and Stream.

Takeaways

  • 🎣 Total annual expenditure on fishing equipment in the U.S. is 46 billion dollars.
  • 🐟 30 billion dollars of that amount is specifically spent on fishing lures.
  • 🌟 Introducing Shake-N-Bait, a universal lure designed to replace the need for multiple lures.
  • 🛠 Equipped with a vibrating DC motor and unique coloring to mimic struggling freshwater fish.
  • 🎉 Aims to revolutionize the economics of fishing by providing a cost-effective solution.
  • 📈 Initial marketing strategy includes trade shows and plans for retail partnerships.
  • đŸȘ Target retail chains include Gander Mountain and Field and Stream.
  • 💰 Seeking a 50,000 dollar investment for production and marketing efforts.
  • 📈 Investors are promised a 2X return on their investment within three years.
  • 🎉 The Shake-N-Bait offers a simplified and efficient fishing experience.

Q & A

  • How much do Americans spend annually on fishing equipment, and what portion of that is specifically for fishing lures?

    -Americans spend 46 billion dollars on fishing equipment each year, with 30 billion dollars of that amount being spent on fishing lures alone.

  • What is the main goal of the Shake-N-Bait product?

    -The main goal of Shake-N-Bait is to revolutionize the economics of fishing in favor of the customer by introducing a universal lure that replaces the need for hundreds of manually trolled lures.

  • How does the Shake-N-Bait lure imitate a struggling freshwater fish?

    -The Shake-N-Bait lure imitates a struggling freshwater fish through a combination of its vibrating DC motor and unique coloring.

  • What marketing strategy is initially planned for Shake-N-Bait?

    -The initial marketing strategy for Shake-N-Bait involves marketing at trade shows.

  • Are there any plans to introduce Shake-N-Bait to retail chains?

    -Yes, plans are in the works to introduce Shake-N-Bait to retail chains such as Gander Mountain and Field and Stream.

  • How much investment is being sought for the production and marketing of Shake-N-Bait?

    -The company is seeking a 50,000 dollar investment for the production and marketing of Shake-N-Bait.

  • What return on investment can investors expect from their contribution?

    -Investors can expect a 2X return on their investment in three years.

  • What is the unique selling proposition of Shake-N-Bait compared to traditional lures?

    -The unique selling proposition of Shake-N-Bait is that it is a universal lure that can replace the need for a variety of specific lures, making fishing more cost-effective and convenient.

  • How does the Shake-N-Bait aim to improve the fishing experience for customers?

    -Shake-N-Bait aims to improve the fishing experience by offering a versatile lure that can attract a wide range of fish, reducing the need for multiple lures and potentially increasing the success rate of catching fish.

  • What is the target audience for Shake-N-Bait based on the script?

    -The target audience for Shake-N-Bait appears to be fishermen who are looking for a cost-effective and efficient way to catch various types of fish without needing to purchase a multitude of different lures.

  • Is there any mention of the environmental impact or sustainability of Shake-N-Bait in the script?

    -The script does not mention any specific details regarding the environmental impact or sustainability of Shake-N-Bait.

Outlines

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Mindmap

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Keywords

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Highlights

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Transcripts

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Étiquettes Connexes
Fishing LureCost-EffectiveInnovationFreshwater FishRevolutionary ProductTrade ShowsRetail ChainsInvestment OpportunityMarketing StrategyAngler's Choice
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