the rise and the ups
Since 2012 , the bean bags represented the main product in the shopping list of any startup business and a main cornerstone in the plan of any young entrepreneur, we knew tens of project that have been built on the bean bag model such as the co-working space with bean bags, the training centers with bean bags , running toward the cafes with bean bags passing by the beaches with the bean bags, and the list still counts.
The definition of the local bean bag according to the market is a Sacket filled with foam , cotton or even sponge with a specific density to make the Sacket occupies the person as a comfortable seat for them, it is characterized by the light weight but not with the ease of transportation and mobility, which increase the frequency of buying.
According to our discrete sources , the profit margin for each piece have reached around 70% , to make it clearer , for each bean bag costing 100 pounds of materials, labour and other overhead it can be sold by the producer for LE 170 which is mouth-watering for investors, especially the young once with high sales and marketing capabilities.
In the past 5 years not less than 15 companies operated in the market for the production of this comfy piece, which is enhanced by more colours, designs and features to make it attractive to saleable state, but unfortunately the sales were holding no benefits to be told for the economy itself since 60% of the raw materials were imported.
History and Idea development
The bean bags in no more than 2 years will represent an obsolete piece that will see modifications to recycle in order to benefit from, with a huge social costs burden on the society due to several reasons such as:
- The inner filling disposal is very disastrous to the environment, the foam once are involving a huge pollutant for the environment in which Egypt is already characterized being one of the most polluted countries around the world.
- The product does not hold any benefit to the economic system of the country which requires more capital goods, thus, a sum of the local resources have been directed toward a misuse product, and you can name the rest.
- The labour that spent a portion of their life in that industries will be forced to be made redundant, thus, this would represent another social problem for an economy trying to escape from labour related pressure.
After all of that, do you think it is the right option to buy if you haven’t acquired a piece before, and what do you think about the day when you will make your piece redundant.