Help Retain Older People's Memories By Converting All of Their Videos To DVD's

Background

Four years ago, when I was 18, I got interested in learning how to convert my family's home video VHS/Hi8 collection to DVD.  As I am a bit of an obsessive personality, this led me to spend many hours pouring over expert forum discussion about how to do this, what hardware to use, and so forth.  I built a loaded computer, two prosumer/professional VCR decks which aren't manufactured any more, equipment for converting formats other than VHS, and some materials for packaging the completed projects.  I convinced a family friend to let me attempt a transfer of her extensive  video collection.  I actually collected--in other words, got paid--for parts that I completed, but grew bogged down with the detail of the work I wanted to do and lost interest.

Now, I am 21 years old, married with a new baby girl, and my entrepreneurial interest is re-igniting.  I want a small business that generates sufficient income that my wife and I can operate from our home. I still own the pro/semi-pro tapedecks, which is a good start.  My plan is to re-learn and improve my transfer process to an assembly process speed that I can do in the evenings and on weekends and teach it to my wife to do while I am at my day job.  I can practice on my own family's collection and that of my in-law's.

Necessary Business Tools

To begin work, I'll need to invest, not spend, about $130 investment to set my computer up with editing software.  It is important that I learn how the software can serve my needs.  Next, I will practice until I know the process perfectly.  I can take older video recordings from older equipment and transfer them onto DVD.  In addition, I will offer the service of scanning and preserving family photos.  I plan to charge $10-$20 per tape.  Currently, the market varies from $10 to $25 and more per tape.  I want to hit a sweet spot of service, a niche, by providing high quality DVD's of family photos.  Materials will cost around $1.50 a disc.

Business Plan

Here is how I answered your target audience questions:

Question #1: Who is my audience? 
Answer: Families (especially older generations) who wish to preserve and make their family memories more accessible by digitizing them.

Question #2: Do members have money to spend? 
Answer: They will probably have enough for projects of this size.  I can't see projects being bigger than $500-$800 with most being smaller.

Question #3: How can I bring my message to this audience? 
Answer: By advertising in places where closeknit families go for events: homeschool conferences, curriculum fairs, newsletters, local drama and arts events.

Question #4: What are the members' hottest hot button? 
Answer: Preserve family memories before they deteriorate or fade.  Photos and videos recorded on analog mediums will accomplish that.  Make their memories easily accessible on their computers and home theaters.

Question #5: Can I meet this demand? 
Answer: I can learn to transfer videos and scan photos, edit them appropriately, transfer them to reliable media, and package them attractively.

Question #6: What do they want to buy right now? 
Answer: Archivable and accessible family memories. 

Other concerns:  What do I need to think about?  What kind of liability am I exposing myself to? How can I minimize or negate this liability?

GaryNorth Replies:

This is a good project. It should be profitable.  Do the following:

1.  Advertise in Craigslist. 
2.  But put this in the back of your mind: sell a DVD for $29.95 plus postage and handling on how people can do this at home. Or set up a subscription-based site, using Amazon S3 videos, with forums. People want help in reserve. They might pay $9.95 a month for this service.

It's better to sell digits than spend time. Learn the production techniques.

3.  Finally, you could set up a site for people who want a small business opportunity doing this

locally. Sell subscriptions at $197 a year. Help them do what you're going to learn how to do.