Blossom

Team

Hunter Wallace, Jaigen Glaze, Colin Ferguson

Problem

Social anxiety is defined as an intense and persistent fear of being watched and judged by others. It can vary in severity, but it affects nearly every facet of life. It inhibits a person’s ability to interact with others, meaning it's much more difficult to build relationships and be a part of regular social situations.

Solution

Blossom uses cognitive behavioral therapy, which is proven to be one of the most effective ways to overcome social anxiety. We'll ask you to complete an evaluation that helps us determine a comfortable place for a user to start, and then gives them tasks to complete that gradually pushes the user to expand their comfort zone. As they become more comfortable and confident, the tasks adjust to challenging them accordingly.

Market Size

Blossom's target market would be people who are over the age of 18 and struggle with social anxiety. According to the National Institute of Mental Health, an estimated 7.1% (15 million) of US adults had a social anxiety disorder in the past year. An estimated 12.1% of US adults experience social anxiety disorder at some point in their lives. If we charge $4.99 a month for every user who uses Blossom and targets only 1% of the population we can expect a market size of roughly $9 million per year. Within the next 5-10 years, we are hoping to reach about 10% of the market which is roughly $90 million per year.

Competition

Blossom offers CBT, mood tracking, group discussion, progress tracking, and therapists for only $4.99 a month. MindDoc, Mood Tools, Calm, and Smiling Mind are some of our competitors. These specific companies have many similarities to Blossom but they don't nearly have as many features. Sanvello is another competitor that offers the same amount of features that Blossom has; however their subscription service costs $50 a month compared to Blossom’s $5 a month.

Business Model

Our business model will be based on Saas with a value proposition of an affordable app to help people overcome social anxiety with CBT services. Some of our key partners will be registered psychologists, market research companies, marketing agencies, and software developers. Some key activities include software development and CBT exercises. Some key resources include software and licensed therapists. It will be distributed online by our website and on mobile app stores. Our cost structure comes from software development, marketing research, and partner costs. Our revenue streams from the app itself by a $5 a month subscription service.

Marketing and Sales

Blossom will have a free version and a premium version for $4.99 a month. We plan to market Blossom by using social media advertisements, word of mouth, and referral programs that incentivize people to invite their friends for a discount on the premium subscription.

Progress to Date

Blossom currently has a user-tested and validated demo website available online.

Future Milestones

By the end of April 2022, we want to have a fully functional MVP validated by licensed psychologists ready for large-scale user testing. We also want to have functionality in place to accept payments and the referral marketing feature enacted. By July 2022 we want to establish a small user base and steady cash flow. We also want to use pre-seeded funds to advance our business further and we want to be registered as an LLC in Indiana. By January 2023 we want to have a mobile version available and revenue greater than $1,000 a month. By January 2024 we want to have a revenue greater than $10,000 a month.