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This week's clever new business ideas include auto insurance that uses GPS to track teenagers' driving behaviour, branded urns and caskets, 10,000 bicycles in Paris, and a restaurant in Chicago that only serves miniature portions. Our next edition is due on 25 July 2007. In the meantime, check out our daily postings on www.springwise.com, send us your tips, and please don't forget to tell your friends and colleagues about us. Much appreciated! |
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Last summer, we wrote about a Dutch bank that's encouraging children to show some entrepreneurial flair. Postbank's Bizznizz program is still going strong — new features include free phone calls for calling prospective clients, and an online Bizznizz Club where members can share tips and tricks. Umpqua, an Oregon-based bank, recently launched something similar. Their Lemonaire campaign is aimed at helping 'really small entrepreneurs' start their first business: a lemonade stand. After completing an application, children can pick up a free Umpqua Lemonade Starter Kit. The kits include cups, napkins, a sticker, table cover, small business guide ('How to Become a Lemonaire') and USD 10 start-up capital. No purchase necessary, but children must be under 13 to qualify. Unlike Postbank's Bizznizz, Umpqua’s Lemonaire is a temporary campaign, and the marketing aspect is key here. As quoted in the New York Times, a spokesperson for Umpqua explained: "We look for ways to hit people with a different mindset, and the lemonade stand is a perfect metaphor for what small business is about." Time for other banks to follow Umpqua and Postbank's lead, offering junior entrepreneurs the tools they need to earn and save? As long as children aren’t forced into labour, it’s a great way to teach them about business and money ;-) Website: www.lemonaire.com
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Often, we come across new business ideas that sound good on paper, but don't quite live up to our expectations. When we were alerted to online retailer Pat Pending, it sounded promising: customers can buy exclusive rights to a design, allowing them to resell copies of a garment, or resell their rights to the design. Interesting new business model, right? Unfortunately, Pat Pending took a few wrong turns. First, the designs on offer are just slogans on white t-shirts. Sure, a customer registers a slogan with Pat Pending and has exclusive rights to that phrase on any Pat Pending t-shirt. But unless Pat Pending becomes a highly sought-after brand, a slogan on a plain t-shirt doesn't amount to much. Anyone can order an identical t-shirt printed with the same slogan from any customized t-shirt store. Secondly, it would be much more appealing if the company facilitated sales by a design's owner, giving him or her a cut of each sale. Instead, Pat Pending asks customers to order more of 'their' shirts at the listed retail price (USD 66.90), with no help in reselling them. What would make this concept worthwhile, is if a customer could buy the rights to a truly unique design. Think a Threadless-like graphic on a t-shirt, or a quirky dress designed by a talented fashion student. (In their defence, Pat Pending is currently asking designers to submit designs that slogans can be printed in/on.) Buy and sell those designs, produce and ship the goods, add easy to operate, no-inventory webshops like Zlio, and you've created an innovative service that adds value for all parties involved. A bit like Etsy, the marketplace for handmade products, but for people who are better at selling than creating. Consumers across the world are designing and creating products, while others increasingly use the web to become part-time shopkeepers. An online design brokerage could match part-time designers with part-time sellers, each focusing on what they do best. One to start? If you do, be sure to let us know ;-) Website: www.patpendingstore.com Spotted by: Anthony Sibillin
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Bucking the trend of ever-expanding dining portions, Chicago-based Minnies is out to prove that bigger isn't always better. Featuring a wide selection of bite-size gourmet burgers and sandwiches—including traditional favorites such as grilled cheese and Reubens, alongside the more inventive Mykonos (roast chicken, tzaziki sauce and kalamata tapenade) and Thanksgiving delight (roast turkey, cranberries and wild rice gravy)—Minnies applies nouvelle cuisine portions to casual dining. Besides serving waistline-minded eaters something to nibble on, the fifties-style diner gives hungrier customers the mix-and-match pleasure of tapas restaurants. While other restaurants are starting to offer Lilliputian portions in response to consumer demand, serving miniatures-only is a niche concept that could definitely take off, much like dessert-only eateries. While Minnies isn't currently offering franchises, interested parties are encouraged to submit their contact information should they elect to do so in the future. In the meantime, this could be a fun one for budding restaurateurs to replicate in other regions. Website: www.minnies.com Spotted by: Bjarke Svendsen
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Seattle-based insurer Safeco recently launched an insurance policy for teenage drivers: Teensurance. A combined package of insurance and a GPS tracking device (the 'Safety Beacon'), Teensurance offers parents the ability to monitor their teenage children's behaviour on the road. Using the Safety Beacon, parents can set how far their children are allowed to drive, at what maximum speed and what time of day. If one of the boundaries is crossed, parents immediately receive a notification by phone. Using an online interface, parents can track where their children (and cars) are, and how fast they're driving. Teensurance also provides a Teen-Parent contract to help both parties agree on personal driving rules. Safeco claims it can't see data that's being collected, and won't be able to use it if an insured party is involved in an accident. Teensurance is available to customers with Safeco auto insurance, at an introductory price of USD 14.99 per month, which includes 24/7 roadside assistance . While the 'Big Parent is watching you' angle may seem invasive and distrustful, the knowledge gained does provide parents with more peace of mind and with plenty of information to give inexperienced drivers useful feedback. Opinions on personal privacy aside, it's a good example of an integrated approach to financial services, combining a somewhat abstract, 'just-in-case' insurance policy with a useful day-to-day tool. Website: www.teensurance.com Spotted by: John Hildebrandt
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This weekend, Paris placed over 10,000 bikes in just 36 hours, launching an ambitious bike sharing system that is meant to 'lead a revolution in the way Parisians move around the city'. Dubbed Vélib' (from velo + liberté), the program aims to help reduce pollution and keep the people of Paris physically fit. Customers can pick up a bicycle from one of 750 self-service points. If no bikes are available, renters are directed towards a well-stocked point nearby. After identifying themselves and providing credit or debit card details, users can take out a bike. A day pass costs EUR 1, allowing users as many rides as they like, provided each trip is less than 30 minutes. An additional half hour is EUR 1, with prices climbing for additional time used; the pricing model is aimed at encouraging quick turnover. Bikes can be returned at any service point. Once all 1,451 are in place (end of 2007), the nearest service point will never be far off — one every 300 metres, which means they'll be 4.4 times as densely distributed as metro stations. The number of bicycles will also be doubled, bringing the total to 20,600. The sturdy grey bikes come with a metal basket on the handlebars and are heavier than standard bicycles, built to withstand heavy use. In line with the program's green image, Vélib‘ maintenance staff get around town on 130 electrically assisted bicycles. A barge with 12 stops along the Seine will pick up bikes in need of major repairs. Cleaning staff drive electric vehicles and use rain collected on the roofs of JCDecaux offices. Like a similar scheme in Lyon, where 10 percent of the city's population has a subscription to the local sharing scheme, Vélib‘ is operated by outdoor advertising giant JCDecaux, which is footing the bill in exchange for exclusive rights to 1,628 Paris billboards. For short journeys, shared bicycles are faster, cheaper and easier than public transport. With fuel prices still on the rise and increased concern about the environmental costs of driving, planners from other cities should head over to Paris to test Vélib‘ in preparation for launching their own bicycle sharing program. And if you're in outdoor advertising, take a cue from JCDecaux's model! (For more examples, see our previous coverage of urban bicycle schemes.) Website: velib.paris.fr Spotted by L.C.
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In a lively new twist on what you might call a dead industry, Eternal Image is bringing licensing to the afterlife—through branded caskets and cremation urns. Now lifelong supporters of select sports teams and other brands have the option to take their loyalty all the way to their final resting spot. Eternal Image has licensing agreements with 30 Major League Baseball teams (urns and caskets will available late 2007), the Vatican Library, Precious Moments—and there are even special urns licensed by the American Kennel Club and Cat Fanciers Association to preserve the ashes of beloved pets. More than just a gimmick, Eternal Image products are made with high-quality rot-resistant composite materials and are designed to be tasteful representations of a person's interests. The company continues to seek new partners and expand its offerings to appeal to a broader audience. While some may find it off-putting to take licensing to such an extreme, appealing to the varied interests of ageing baby boomers—many of whom are serious sports enthusiasts—could yield high returns. What's more, this is a fantastic example of applying new principles to an industry that hasn't changed much in many years, with the exception of eco-funerals and artistic urns. And while Eternal Image has a great start on collecting an impressive list of partners, there's still ample opportunity for rivalling entrepreneurs to compete for some big name licensing partnerships, including major sporting leagues worldwide. Website: www.eternalimage.net Spotted by: Kevin Jameson
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In case style and craftmanship weren’t enough to lure in suitcase shoppers, customers who purchase luggage from Carpisa stores in Italy during a special year-long promotion get an unusual perk—insurance for their bags against any loss by any airline worldwide. The company is partnering with Italian-based insurance provider Aurora Assicurazioni for this co-marketing initiative, which began in May of 2007 and will run until May 2008. Customers who purchase a Carpisa bag during that time have 30 days to activate their year-long insurance policy, which will reimburse them the cost of their suitcase if lost from the time bags are checked by airline personnel until baggage claim, provided the loss is properly reported and the bags don’t turn up in the airport’s lost and found office. Policies can be activated either by mail or fax, and the contracts will cover the purchase cost, up to EUR 119 per bag. Since misplaced baggage is a key concern for many travelers, this concept is bound to appeal to anyone who frets over the prospect of losing a favorite piece of luggage. Moreover, it's good PR for both brands, and a innovative example of a partnership between a manufacturer and a financial service, creating an offering that’s relevant to consumers. Smart way for an insurance company to get hold of contact details for new leads, too ;-) Website: www.carpisa.it Spotted by: Giulia Cuccolini
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