Business idea: Design and produce a drinking water filter forhome use that is organic and biodegradable and pair it with astylish and ergonomic carafe (pitcher) that is elegant enough to bethe centerpiece at a formal dinner party. offer replacement filterson a subscription basis so users never have to worry about runningout of filters.
pitch: Most drinking water filters made for home use are difficultto use and somewhat unappealing. The filters are usually designedto fit on the top of a water pitcher, and if the user isn’t carefulcan easily slip off and spill water on the kitchen counter andfloor. In addition, because the filters usually contain charcoal,if the water sits in the refrigerator too long, small flakes ofcharcoal will be visible in the water. Not too appealing,particularly if you’re serving the water at a dinner party.
The Soma drinking water filter and carafe were developed to solvethese problems. The filter was designed by David Beeman, a waterfiltration expert, who created water formulas for Starbucks,Peet’s, and other global brands. The filter, which is shaped like afunnel, is made from all-natural Malaysian coconut shells, vegansilk, and food-based plastic. It is 100 percent organic and 100percent biodegradable. In contrast, most drinking water filters aremade from plastic resin and charcoal. Soma filters are paired withan elegant hourglass-shaped carafe that is large enough to serve afamily but sleek enough to fit in a refrigerator. It is contouredto fit comfortably in your hand and has a beveled edge for dripfreepouring. The filtration process is simple and quick. You simplyfill the carafe with tap water, let the water pass through thefilter, and it is ready to drink. The filters last for two months.The combination of the filter and the carafe delivers clean, crisp,pure, good-tasting water. The carafe and filter are alsoshowpieces. Their presence would be appropriate as the centerpiecefor a formal dinner party. To relieve a pain point for its users,Soma offers a subscription service for replacement filters. Newfilters are delivered every two months. As part of its commitmentto pure, clean water, Soma denotes a portion of its sales toCharity: Water. A nonprofit organization, Charity: Water bringsclean, safe drinking water to people in developing countries. Somaalso contributes to environmental sustainability by providing analternative to bottled water,
which utilizes plastic bottles that must be recycled or disposedof. Soma launched a Kickstarter campaign in December 2012. Thecampaign reached its goal of $100,000 in nine days, and raised atotal of $147,444 by the end of the campaign.
9-35. Based on the material covered in this chapter,what questions would you ask the firm’s founders before making yourfunding decision? What answers would satisfy you?
9-36. If you had to make your decision on just the informationprovided in the pitch and on the company’s website, would you fundthis company? Why or why not?
