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RIPE (People’s Choice Award Winner @ SI 2015)

Venture Idea Name:

RIPE (Repurposing Imperfect Produce Effectively)

Group Members:

Anushri Adhia, Hannah Sloan, Teal Reynolds, Ben Brennen, Courtney Eker, Sarah Fracci

Description:

An estimated 40 percent of all food grown never gets eaten by people, and hunger isn’t the only consequence. Wasted food also represents wasted water, and contributes to global warming, thanks to the methane produced when it rots in the landfill. Many businesses reject “ugly” produce because it will just sit on the shelves, being passed over by more visually appealing fruit and veggies. RIPE (and other entrepreneurs around the world) are jumping on this opportunity to reduce food waste while operating a financially sustainable business. Chapters can collect (or purchase for very cheap) visually unappealing produce from local farmers, farmers markets, or supermarkets and utilize the food to make something more appealing, like juice, jam, or just steeply discounted produce.


Marketing Ideas:

Set up a booth on campus, with a nice sign and logo (like the one below.) A creative and well-aligned marketing campaign could be aimed at the idea that we are all beautiful inside and out. While these fruits don’t look that appealing, they are still able to contribute their flavor to a delicious and healthy product. If your partner organization’s focus is women’s empowerment, then this campaign would be perfect for you and this Venture.


Revenue and Expenses:

Probable Expenses (as estimated by RIPE):
Juicer ~ $25, smoothie blender ~ $15, knives ~ $12, cutting board ~ $11, upcycle prices of produce ~ 50% of norm. Start-up total budget ~ $170

Sources of Revenue (price, bundles, diverse markets, etc… as estimated by RIPE):
Small juice – $5, large $7, $1 off if using reusable Nourish cup. There is an opportunity bundle the juice with a reusable cup that gives you a discount on future purchases. Other product lines like smoothies and salads could be developed.


Profits and Other benefits of Venture (Marketing for an upcoming event, advance ticket sales, social value created, etc.):
This Venture is an excellent example of what our Ventures strive to be in terms of integrating social causes. Food waste is a staggeringly large problem and this Venture is able to address the issue on a local level while operating with a financially sustainable business model.


Challenges:
Finding ugly produce for the right price and finding places to sell it if your school does not allow food/drink sales on campus would both be challenges. Also, this type of Venture is becoming trendy among entrepreneurs and corporations so there might be competition for the ugly produce. Finally, the seasonality of the produce might be a challenge, the Chapter would have to adapt to the changing kinds of produce.


Tips:

Do some research into this topic, it is very trendy right now and there are plenty of articles. Consider trying to contact one of the companies who is currently doing this to get some tips. Make sure to reach out to your local farmers markets and grocery stores.


Would you recommend to other chapters?

Still an untested idea but College of Charleston plans on implementing this!

Learn about building a business model for your Venture here!
Copy this one and edit it for your Chapter!


Contact info:

Ben Brennen (CoC) – brennanbj@g.cofc.edu
Courtney Eker (CoC) – ekercr@g.cofc.edu
Hanna Sloan (UNC) – hbsloan@live.unc.edu
Jonathan Weatherbee (Alumni) – jon.r.wetherbee@gmail.com

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