I. Executive Summary

Company Description

Steeped Select is a specialty tea curation service that offers a personalized tea discovery journey, catering to the growing market of health-conscious individuals, tea aficionados, and adventurous consumers. The company operates in the direct-to-consumer model, providing tailored and flexible tea curation experiences through one-time purchases or recurring deliveries. Steeped Select differentiates itself by offering a diverse selection of high-quality, sustainably sourced teas, accompanied by educational content on tea origins, brewing techniques, and health benefits. The service also provides exclusive access to rare teas and local specialties from global small-batch producers, along with a community platform for tea enthusiasts to connect and share their experiences.

Problem

The specialty tea market is currently plagued by a lack of reliable sources for high-quality, authentic, and sustainably sourced teas. Consumers are overwhelmed by the abundance of choices and often resort to trial and error purchases, leading to disappointment and wasted resources. Additionally, the absence of educational content about tea origins, brewing techniques, and health benefits has left consumers with limited knowledge and appreciation for the art and science of tea consumption. The existing solutions have failed to cater to the specific needs and preferences of tea enthusiasts, leaving them feeling disconnected and isolated.

Solution

Steeped Select offers a unique and personalized tea discovery journey, addressing the growing need for access to a diverse selection of high-quality and sustainably sourced specialty teas. Our solution is designed to cater to the individual taste preferences of health-conscious consumers, tea aficionados, and adventurous individuals seeking to explore global tea cultures.

Mission Statement

Steeped Select is committed to providing a personalized and educational tea discovery journey, connecting individuals with high-quality, sustainably sourced teas from around the world. We aim to enrich lives through cultural exploration, foster a vibrant community of tea enthusiasts, and contribute to the global appreciation of diverse tea cultures.

Key Success Factors

Financial Summary

The financial summary outlines the projected revenue, profitability, and expected return on investment for Steeped Select.

The initial seed funding requirement is set at $2.5 million with an anticipated 70% ROI by 2026.

This indicates a strong financial outlook for potential investors and stakeholders.

Funding Requirements

As Steeped Select prepares for its launch, it is crucial to secure the necessary funding to support the initial setup, marketing efforts, operational costs, and staff hires. The funding will also contribute to product development, logistics, and technology infrastructure. The total funding requirements have been broken down into specific categories to provide a comprehensive overview of the financial needs.

II. Products & Services

Problem Worth Solving

The specialty tea market presents a paradox for many consumers. On one hand, the growing popularity of unique and diverse tea varieties from around the world has created a vibrant and dynamic landscape for tea enthusiasts. On the other hand, this abundance of choices has led to a sense of overwhelm and uncertainty for consumers who are seeking high-quality, authentic, and sustainably sourced teas that align with their individual tastes and health preferences.

• Many consumers are struggling to find a reliable source for specialty teas, often resorting to trial and error purchases that result in disappointment and wasted resources.
• The lack of access to diverse and high-quality teas has hindered the exploration of global tea cultures, leaving tea aficionados and adventurous consumers longing for authentic experiences.
• The absence of educational and informative content about tea origins, brewing techniques, and health benefits has left consumers with limited knowledge and appreciation for the art and science of tea consumption.

This current state of the specialty tea market has implications for consumers that go beyond the simple enjoyment of a good cup of tea. The consequences or challenges customers face due to this problem are:

• Missed opportunities to explore and appreciate the rich heritage and diversity of tea cultures from around the world.
• Difficulty in finding teas that cater to specific health needs and preferences, leading to a compromise on the quality of the tea experience.
• Frustration and disillusionment with the lack of guidance and reliable sources to navigate the expansive world of specialty teas.
• A sense of disconnect and isolation for tea enthusiasts who are seeking a community of like-minded individuals to share their passion and experiences.

By addressing these pain points, Steeped Select aims to alleviate the challenges of finding, enjoying, and learning about specialty teas, thereby offering a holistic and fulfilling tea experience for its customers.

Our Solution

Steeped Select offers a unique and personalized tea discovery journey, addressing the growing need for access to a diverse selection of high-quality and sustainably sourced specialty teas. Our solution is designed to cater to the individual taste preferences of health-conscious consumers, tea aficionados, and adventurous individuals seeking to explore global tea cultures. The core features of our product and service include:

• Personalized Tea Curation: Customers take a taste preference survey, allowing us to handpick a variety of specialty teas from around the globe to match their profiles. This personalized approach ensures that each delivery is tailored to the customer's unique preferences, creating a truly individualized tea experience.
• Educational Content: Alongside each tea delivery, customers will receive comprehensive educational content about the teas' origins, brewing techniques, and health benefits. This educational material enhances the overall experience and provides valuable insights into the world of specialty teas.
• Community Platform: We provide a community platform for tea enthusiasts to connect, share their experiences, and learn from each other. This platform fosters a sense of belonging and encourages engagement among like-minded individuals with a passion for tea exploration.

Our solution effectively resolves the problem of overwhelming choices and lack of access to high-quality, diverse tea selections by offering a curated and educational tea experience. The innovative aspect lies in the seamless integration of personalization, education, and community, making Steeped Select a one-of-a-kind specialty tea subscription service.

Real-world applications of our solution include a busy professional in New York City who values the convenience of a tailored tea experience delivered to their doorstep, or a health-conscious individual in San Francisco seeking to expand their knowledge of global tea cultures. The practicality of our solution is evident in its ability to cater to diverse customer needs while providing a unique and enriching tea exploration experience.

Steeped Select's competitive advantages lie in its tailored tea curation service, exclusive access to rare teas, and the opportunity to connect with a community of tea enthusiasts. These elements position our product and service as a market-viable solution with the potential to captivate and engage a wide range of customers, driving success in the specialty tea market.

Unique Selling Proposition

Steeped Select distinguishes itself in the specialty tea market by offering a personalized and educational tea discovery journey, catering to the unique preferences of each customer. Our tailored approach, commitment to quality, and emphasis on community engagement set us apart from key competitors in the industry.

• Personalized tea curation based on individual taste profiles
• Diverse selection of high-quality, sustainably sourced teas
• Educational content on tea origins, brewing techniques, and health benefits
• Exclusive access to rare teas and local specialties from global small-batch producers
• A community platform for tea enthusiasts to connect and learn

Development Stage and Future Plans