Feasibility: Financial By 2029 Terra Is expected to have 6.4 million users, as a revolutionary technology in the sustainability industry. We expect 73000 users by 2022, with a serviceable obtainable market of 22 million buyers on Shopify that care about sustainability, expecting to capture 3.33%. We hope to achieve 6 million dollars in net income by 2029.

Although we are expected to incur a loss of $222,000 in 2022 due to major investments, we will be able to achieve profitability of $3,700 by 2023, two years after launching this project.

Execution Plan 2021 is allocated as our development year to create our product and pitch to various investors, with a target fundraising level of 250,000 dollars in funding. Depending on traction and scale we receive, we will be able to change our expenses and modify based on our demand to stay feasible. With the majority of the expenses being employee costs, we hope to hire only as needed.

Market Strategy Our primary marketing involves creating a Shopify add-on, social media platforms, developing an eco-community blog page, and establishing partner locations from day one. In 2022 and 2023, we hope to aggressively expand our userbase to 3.3 million users through building an e-commerce sustainability community using content marketing, social media channels, partnering with larger corporate retail stores, and establishing ourselves in the eco-community. Starting 2026 we will expand our product globally. Since technology provides low barriers to expansion, we hope to achieve greater adoption levels internationally

Tech Implementation

This product will unfold in 3 steps. On the consumer side a Shopify app will be created using the Shopify Orders API, this will be embedded into the checkout part of the shopify store where the Terra Score will automatically be calculated for the client. Then, on the user side, a chrome extension will be used to detect the store that the purchases are being made from this will be created using Javascript. The final stage is the dashboard and the account page for the user which is created using HTML and Javascript, this dashboard will show analysis of the user's spending through the year and analytics for their Terra Score. The Store section for the user will show them the available discounts based on their score and stores that will improve their scores as well. The score will be generated using an algorithm which takes in the environmental effects of each product purchased and averages that out with all of your previous purchases ( kind of like a credit score).

Workshop Concept

We structured our pitch based on the Pitch workshop. Within the organizational behavioral workshop, we were able to understand the 9 behavioral motivations to drive the consumers and through this, we were able to leverage many of the motivations into our business model. Ex. We used empowerment as one of the motivations. Terra does both by encouraging the user externally and internally to make environmentally conscious purchases. The new age demographic is very much in line with environmentally cautious purchases, so with Terra we encourage you as a society to join this movement.

Built With

Share this project: