The Problem:
There are only a few real participants in the cord blood and cord tissue storage market. This causes prices to be unreasonably high for consumers.
The Business
Compete directly with these facilities. Open a cord blood storage business.
Doableness
You likely need a great deal of financing to make this idea a reality. You have to have a facility or facilities. You need a software system for maintaining the valuable merchandise. You need arrangements for transportation for the blood and tissue when a customer first delivers and transportation for anyone requesting their sample. You also need outstanding sales, marketing, and branding.
From the little bit I know, stem cells have a special importance in this day and age. Stem cells have no real alternative in the small event the cells are needed. For me, for my kid, it’s a no brainer. (I don’t want to spread propaganda here, because I’m not exactly sure of the facts.) It seems like it’s possible it later saves the child’s life in the event of certain rare diseases. It makes it a no brainer for me.
It’s probably a no brainer for near everyone if it was 20% of the price. It can be – it will be – with enough competition. This idea, in my mind, functions by competing on price.
My Thoughts
Prices now are a few thousand up-front and $250ish per year storage. That’s outrageous. In the end, it’s nothing more than securely storing merchandise in (what I imagine to be) freezing conditions. There is significant room for price decreases.