Dec 14th, 2007 / Written by David Isserman
On Monday, I’m going to be publishing an exclusive interview that I did with Jason Mendelson, Managing Director at the Foundry Group. In the interview, he discusses strategies that he uses to identify new business opportunities. (As a quick plug: Be sure to subscribe to this blog to stay up-to-date on the most recent blog postings. You can subscribe by submitting your email using the form on the left column of this page.)
In anticipation of this interview, I wanted to share with you an interesting and innovative business concept that I read about in Monday’s USA Today.
The Lobsterman Cometh
Have you ever wanted to be a lobsterman? Well, now you can…Two brothers in Maine are selling the rights to entire lobster traps. That means, for $2,995, you can own the rights to whatever lobsters are caught in your designated trap for the entire season. They will then ship your lobsters overnight wherever you want and will include mussels, clams, Maine-made gourmet desserts, and bibs. Customers are guaranteed at least 40 lobsters for the season.
Brothers John and Brendan Ready own the Company, Catch A Piece of Maine, which launched in October 2007 with eight other fishermen. They are offering 400 traps for sale, which according to the article, 30 have already been sold. What’s even cooler – those who purchase traps can track their catches online.
Why is this concept so cool?
First, it shows how the Internet is helping small (wholesale) businesses connect directly with consumers. Not only can these lobstermen go around the traditional middlemen, but they can increase their profits while offering products and packages at less than retail prices.
Secondly, the article reported that in recent years, the lobster catches have doubled and tripled and that fisherman are working to find new channels in which to sell their lobsters. This new strategy could be the solution.
