ElementBars.com lets users design their own custom energy bars by selecting organic and conventional ingredients and then personalize the label. Users who want proven taste and nutrition can customize a "popular bar" that has received the most positive reviews by other users of ElementBars.com.
Each energy bar is hand made, packaged, and then labeled with its custom bar name and nutritional information. Element Bars is committed to using unprocessed or minimally processed elements in each bar to retain the most nutritional value.
What is the Customer Problem You Solve?
Customizable: ingredients and label
Fresh: Baked and delivered in 7-10 days
All-natural: No artificial ingredients, colors, or preservatives
Accessible: Expertise in small-batch runs
How Will You Make Money? (your business model)
80% of the business is sold through the website to individual customers who order 1-3 dozen bars at a time. Customers can also subscribe to a bar in exchange for a 15% discount. The other 20% of our business is wholesale customers who include hotels, gyms, spas, and wellness centers. These specialty retailers buy in bulk from Element Bars and then resell the co-branded product to drive incremental revenue and/or brand building.
What are your Products/Services
Custom energy bars
Who is Your Target Market (your customers)
US customers spend over $3 billion on energy bars each year and the market is growing at a 9% CAGR. 50% of the market is fragmented into small producers who focus on specific ingredients or nutritional needs. By offering custom energy bars, Element Bars can aggregate this niche demand together and create mass market appeal. The market is divided equally into the diet, athletic and wellness segments. Element Bar's target is the wellness segment, which has seen a 29% price increase in the last 3 years.
Element Bar will target the "crunchy" consumer within the wellness segment by positioning as the bar that best suits their needs through several key differentiation factors. The most important factor is customization. Through customization we want our end users to feel in control of their own nutritional needs. This form of user empowerment establishes trust between Element Bar and its end user. Lastly, a web experience with clear nutritional information, accurate education material, and an easy to use inter-phase takes the hassle out of being healthy and creates a sense of accomplishment. We want these factors to establish Element Bar as not just a nutritional bar, but a partner with end users in their quest to being healthy. See exhibit B for an analysis of key factors of competition and how Element Bars will differentiate.
Where Will You Sell Your Product?
The following marketing vehicles will be used to generate awareness. The city of Chicago is used to illustrate potential channels:
- In-store samples of popular bars - Seek out partnership with local businesses to pass out samples of Element Bars. Possible partners include Uncle Dan, local health food stores.
- Farmer's Markets - Establish presence at major farmer's markets situated within residential areas of our target segment. Possible markets include Chicago Green City Market (Lincoln Park / Old Town), Logan Square Farmer's Market, and Evanston Farmer's Market.
- Healthy and Organic lifestyle events - Establish presence and possible sponsorship of local health and nutrition events to help establish credibility with our target customer. Possible target events include Chicago Green Festival, Chicago Marathon, local 10Ks, Chicago Health and Fitness Expo.
- Organic websites and blogs (organic.org) - Reach influencers for health and organic websites through ad support and direct mailing of sample product.
- Social Media Element Bars on Facebook, Photo Album
The free samples offered will be the "Founders Bars". These are customized bar created by each of the founders of Element Bars. This gives Element representatives a unique and personable selling story to communicate to our target customers. The goal is to make the free sample more memorable and to create a strong connection between Element Bars and the idea of customization.
What is your Competitive Edge?
Indirectly, Element Bars competes with niche energy bar manufactures. Element Bars can aggregate this niche demand together to create a mass market company. There is a company based in Los Angeles called You Bar that offers custom energy bars. Element Bars offers a wider variety of organic ingredients, a greater selection of different bar consistencies (chewy, oaty, crispy, and datey), a richer, drag and drop experience when building a bar, and a faster delivery time.
Why Should the Retailer Buyer Give You Shelf Space?
Our goal is not to be in retail (we would lose our key point of differentiation, customizability).
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