Grapefruit NYU 2015
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The document describes Grapefruit, a company offering Mindfulness-Based Stress Reduction (MBSR) courses online and in-person to reduce stress, anxiety, and catastrophic thinking. It discusses Grapefruit's team, customer interviews conducted, value propositions, customer segments, channels, and revenue model. Key points include targeting professionals ages 25-50 making over $100k with stress, high blood pressure, or insomnia. Courses would be offered both directly on Grapefruit's website and through partnerships with employers, insurers, and wellness providers.
Grapefruit NYU 2015
- 1. Grapefruit Service: offer premium Mindfulness-Based Stress Reduction (MBSR) course and continuing support on-line or in-person to reduce catastrophic thinking, worries, and anxiety. Team: Tracy Chang and Madhu Krishnan Interview this week: 14+7+8 + 3 + 7=40 Interview to date: 48
- 2. Community - Learning is best achieved by building a community of practitioners Dedicated Personal service - personal coaching Awareness B2C - Website, Paid search - Linkedin advertisements - B-schools - Employers B2B - Managers - HR managers manager Delivery: - Own stores Problem solving - Studio operation - Program coordination - Program Delivery - Program development Intellectual: -MBLD -MBF Human: - MBSR teachers - Purpose-driven employees Physical: - 1,500 sq ft studio Financial: - Operating cash - Loan guarantee Segmented B2C - MBSR grads - Working profs - Pursuing MBA - Managers - Entrepreneurs - Ailments - Major life event - Age: 25 to 50 - Income: >$100K - Urbanities B2B - Start-ups - Mid to large companies Channel Customer segmentCustomer relationsValue propositionActivitiesPartners Resources Cost Structure Revenue Stream Risk Reduction B2C - Dance with life - Feel well - Lead well B2B - Lead well Brand/Status - MBSR - Premium service Design -Asthetic experience Acquisition of resources (customers, teachers) - mindful.org - wisdom 2.0 - mindfulness consultants - meditation/retreat centers - B schools - Accelerators - Incubators - Yoga studio - Gyms - Hotels - Spa - Headspace - Insight timers Usage fee: - 8-week MBSR/MBLD - 5-day MBLD Intensive - Retreats Fixed cost: - Staff salaries - Marketing cost - Professional services: legal, accounting - Insurance - Utilites Subscription fees: - Mental gym: Ongoing practice after foundational courses - Mindfulness trucks Licensing: - MBLD - MBF Variable cost: Rent Teacher salary Advertising (acquire, keep, grow) Day 1
- 3. Equinox/NYU Sports club members on Wall Street Classmates (Stern, LLP) What we learned 1. When we asked people “how they dealt with stress” – responses we got were - Active workout, Running, Yoga, TV, Alcohol, hanging out with friends. 2. “Stress” did not trigger Meditation/Mindfulness 3. People discussed ”meditation” “Yoga” “Pilates” when there was a health trigger - BP or back pain 4. DIY leads to minimal felt benefits and stop Customer Segments and Value Proposition Day 2
- 4. Community - Learning is best achieved by building a community of practitioners Dedicated Personal service - personal coaching Awareness - Website, Paid search - Linkedin advertisements - B-schools - Employers, HR manager - Physicians - Physical Therapists B2B - Managers - HR managers Delivery: - Own storesRent Problem solving - Studio operation - Program coordination - Program Delivery - Program development Intellectual: -MBLD -MBF Human: - MBSR teachers - Purpose-driven employees Physical: - 1,500 sq ft studio Financial: - Operating cash - Loan guarantee Segmented B2C - MBSR grads - Professionals - Pursuing MBA - Managers - Entrepreneurs - Ailments (BP) - Major life event - Age: 25 to 50 - Income: >$100K - Urbanities B2B - Start-ups - HR manager mid to large companies Channel Customer segmentCustomer relationsValue propositionActivitiesPartners Resources Cost Structure Revenue Stream Risk Reduction B2C - Dance with life - - Feel well - Reduce stress - Reduce back pain/ blood pressure - Silent life saver - Lead well (certificate?) B2B - Lead well - Healthcare saving* - Productivity* Brand/Status - MBSR - Premium service Design -Asthetic experience Acquisition of resources (customers, teachers) - mindful.org - wisdom 2.0 - mindfulness consultants - meditation/retreat centers - B schools - Accelerators - Incubators - Yoga studio - Gyms - Hotels - Spa - Headspace - Insight timers Usage fee: - 8-week MBSR - 8-week MBLD - 5-day MBLD Intensive - Retreats Fixed cost: - Staff salaries (reduced) - Marketing cost - Professional services: legal, accounting - Insurance - Utilites Subscription fees: - Mental gym: Ongoing practice after foundational courses - Mindfulness trucks Licensing: - MBLD - MBF Variable cost: Rent Long Term Hourly Rent Teacher salary Advertising (acquire, keep, grow) Day 2
- 5. Who are our customers? -Stressed financial VP/consultant - High Blood Pressure - Want “natural” way - Can’t sleep -Caregivers-Healthcare Professionals -Divorce -Migraine -Male, 25-50, >$100K -healthy architect -wants to improve concentration - Back pain Demographics - Age 25-50, Income >$100, Urbanites -Anxious Day 3
- 6. Community - Learning is best achieved by building a community of practitioners Dedicated Personal service - personal coaching - Website, Paid search HR manager - Physicians - Physical Therapists - Court record - Hospital social worker - Linkedin ads - - B-schools B2B - HR managers Problem solving - Studio operation - Program coordination - Program Delivery - Program development Intellectual: -MBLD -MBF Human: - MBSR teachers - Purpose-driven employees Physical: - 1,500 sq ft studio Financial: - Operating cash - Loan guarantee Segmented B2C -Ailments (BP, Insomnia, migraine, pain, anxious) -Life changing event (divorce, caregiver) -Stressful professions -Super mental function (focus) - Age: 25 to 50 - Income: >$100K - Urbanities B2B - HR manager mid to large companies Channel Customer segmentCustomer relationsValue propositionActivitiesPartners Resources Cost Structure Revenue Stream B2C - Reduce pain/ blood pressure/migraine/anxi ety - Better coping/resilience - Reduce stress - Increase focus B2B - Healthcare saving - Productivity Brand/Status - MBSR - Premium service Acquisition of resources (customers, teachers) - mindful.org - wisdom 2.0 - mindfulness consultants - meditation/retreat centers - B schools - Accelerators - Incubators - Yoga studio - Gyms - Hotels - Spa - Headspace - Insight timers Usage fee: - 8-week MBSR - Retreats Fixed cost: - Staff salaries (reduced) - Marketing cost - Professional services: legal, accounting - Insurance - Utilites Subscription fees: - Mental gym: Ongoing practice after foundational courses - Mindfulness trucks Variable cost: Rent Long Term Hourly Rent Teacher salary Advertising (acquire, keep, grow) Day 3
- 7. Get Strategy Grapefruit Health Websites (WebMD, Women’s Health, Alternative Medicine) Internists, Therapists, Psychologists, Psychiatrists Web Search (Ad Word) Social Media community Employer EAP Insurance Meditation Centers Public Relations (Press and Media Coverage) Corporate Health/Wellness Provider Awareness; Evaluation Day 4
- 8. Get: -HCP -Health info website -Employer EAP -Insurance -Corporate wellness providers -Web search -Social media -Universities E-commerce - Web direct Problem solving - Studio operation - Program coordination - Program Delivery - Program development Intellectual: - Human: - MBSR teachers - Employees Physical: - Administrative office Financial: - Operating cash -Who has BP, Insomnia, migraine, pain, anxiety -Who has Life changing event (divorce, caregiver) -Stressful professions -Superior mental function (focus) - Age: 20 to 50 - Income: >$80 - Urbanities B2B - HR managers - Directors of University students health service - - Channel Customer segmentCustomer relationsValue propositionActivitiesPartners Resources Cost Structure Revenue Stream B2C -Reduce anxiety and panic and manage responses to stressful event when all other interventions fail B2B - Healthcare saving - Productivity Brand/Status - MBSR - Premium service Acquisition of resources (customers, teachers) - mindful.org - wisdom 2.0 - mindfulness consultants - meditation/retreat centers - B schools - Yoga studio - Gyms - Hotels - Spa - Headspace - Insight timers - $800 per person per course with 1st year unlimited on-line support - $500/annual membership for unlimited on-line support - $100/day long retreat – weekly Fixed cost: - Staff salaries - Marketing cost - Professional services: legal, accounting - Insurance - Variable cost: Hourly Rent Teacher salary Advertising (acquire, keep, grow) Day 4
- 9. Path forward: Customer segment/Value proposition Day 5 Insurance – Coverage, Reimbursement, can insurance be a payer? Customers – recommendations, preferences, and results Talk to MDs/NPs - how they make decision on treatment options Talk to MDs/Reimbursement specialists and Insurance providers and learn of CPT codes that this could be billed to Sub-segments of anxiety Those at the end of the rope Intervention earlier those are actively seeking alternate options Spiritual?
- 10. Appendix
- 11. $62B $2.2B Total Available market (123MM full-time employees in the US) Served Available market 49MM Anyone with BP/Insomnia/lower back pain (40%) and Income >$100K, 9% $29MMTarget Market (590K - Manhattan) Market size Day 2
- 12. Channels CustomerGrapefruit Direct Sale through Web Grapefruit Mindfulness Course Education (Awareness) Q&As (Purchase evaluation criteria) Purchase product After-sales (community) Direct and instant communication Cost: E-commerce administrative costs Web design and maintenance 24/7 chat, phone Credit card Staff Website management Awareness; Evaluation; Purchase; After-sales Day 4