Competitor Analysis

In my entrepreneurship class, we are assigned to create an Etsy shop.  In the book The Handmade Marketplace by Kari Chapin, she writes about Etsy and all it has to offer, how to create this online shop, and gives many good ideas on how to be successful on Etsy. 

After much research on Etsy, I had to complete an assignment called a Competitor Analysis.  I had to research many ideas and handmade products that could compete with the products I want to sell on Etsy.  The item I had an idea to sell was coasters.  At first I wanted to do some New Orleans based coasters, but after much design thinking and help from my class I am now going to do school spirited coasters.  From this idea, I went online to find coasters in the same category. 

Luckily, I found only one type of school spirited coaster and they were fabric.  Also, I found some coasters for weddings and geometrically painted coasters. I also found some that are not directly like mine, for instance a coaster made out of old bicycle parts. However, they could potentially rust if they were not cured properly. 

With all of my research, I found that school spirit coasters were in much need.  Therefore, I have come up with a great idea to make personal school spirit coaster for every Etsy customer I may have!