Praxis: Redefining the Toothpaste Industry
In 2019, the co-founders of Praxis-a toothpaste that aimed to improve the health and wellness of its users by incorporating vitamins, minerals, and supplements into the toothpaste-were contemplating whether to launch their business. The mission of Praxis was to facilitate a health-conscious lifestyle and empower individuals to improve their productivity and well-being. The duo wanted to assess the business environment, evaluate their product and marketing strategy, project the venture's financial performance for the first three years of operations, and ultimately determine whether they should pursue the idea. They had specific goals in mind since they had won a case competition at their university, been approached by many investors, and been shortlisted to star on Dragons' Den. Could they successfully launch Praxis, differentiate Praxis from other industry players, and continue managing their existing workload in their studies at Western University?