Fall 2023
4 students
Hestia is a co-living solution designed for young professionals, offering private rooms with shared spaces in the heart of major cities. We focus on fostering community, convenience, and sustainability by repurposing unused office spaces into vibrant living environments with thoughtful amenities.
For this project, we explored the intersection of environmental and real estate opportunities by developing a business concept aimed at addressing the housing and homelessness crisis among young adults, while repurposing empty office buildings. We began by analyzing venture capital trends using Pitchbook to identify high-potential problem spaces and chose to focus on areas with both social impact and market viability.
To validate ideas, we interviewed industry leaders, applied The Mom Test with peers, and engaged “superfans” through communities on Reddit and Quora to gather authentic feedback. Based on this research, we defined our target audience, mapped their needs, and created a detailed consumer profile. Using insights from competitor analysis and the Consumer-Based Brand Equity Pyramid, we finalized brand positioning and pricing strategies.
For the marketing component, we developed a landing page following a reservation funnel format and designed over 30 iterations of Facebook and Instagram ads. After testing ads for a week and analyzing results, we refined the messaging and explored alternative traffic channels like Reddit and Facebook forums. Finally, we built a B2C dashboard to track audience engagement and evaluate the business concept, enabling data-driven decisions for messaging and positioning.