I would currently invest in my venture. Firstly, in regard to financial projections and our breakeven analysis, we were able to formulate direct material per unit, legal, and other variable costs at values that allows for a healthy margin for the business. Essentially, we have conducted strong research to make our major costs per unit (the bandana itself and the screen printing) reasonably low, and therefore feasible to expand upon to get the business going. Additionally, based on student/faculty populations of colleges and universities in the surrounding area (where we plan to first launch our business) we have estimated a minimum sales for each period, and in turn how many periods it will take for us to have enough sales to breakeven and make profit. With these numbers and research in mind, our financial projection is in a good and stable place – which is a major element that investors look for before deciding whether or not to invest.
Next, we have also done extensive market research. We have decided to not solely market to college students, but rather also those with pets who are accessible and directly part of their households – professors, parents of students, and alumni – which creates a greater customer pool. In addition to examining potential customers for the product, we have also researched the pet accessories industry and have made note of the trends, competitors, and the monetary value of the industry as a whole. Regarding competitors, we found that essentially none of them incorporated a philanthropic element into their sales, as we plan to – which excites us, and we feel will set us apart (along with our unique designs). Additionally, we were pleased to find studies that demonstrated that the purchasing pet of accessories and choosing to clothe a pet with decorative, spirited items is not only popular among Gen Z, but also with Millennials and Boomers – thus increasing our chance of sales and popularity with a variety of generations. We have to do a bit more research about our older customers, but as of now we have strongly monitored our collegiate audience – the channels with which they receive information, their preferred design aesthetic, and how to best promote the product to them. Furthermore, we have a game plan for how to get the word out about the product and are excited to enact it.
We are pretty close to achieving meaningful milestones – such as printing our first bandana! We have an original design prepared for the first school we’re launching at (Muhlenberg) and were careful to not step on anyone’s toes regarding copyright in the design creation. We are currently finalizing the screen printing details, which will be our last step before we are then able to print a bandana. Investors like to be able to see and interact with the product, which is on the way. To put the company over the top, we need to really demonstrate the potential for expansion for the venture, and the power of its impact. We eventually want to help animal shelters across the country through the selling of these bandanas, with the ability to sell collegiate-themed pet accessories nationwide. Therefore, as a next step, we will pitch the venture to additional animal organizations (both in and out of the Lehigh Valley) to create partnerships and see who would like to collaborate with us. Those partnerships will help us establish local roots with animal-loving communities across the country, while also contributing to a meaningful cause.
I believe that our venture offers compelling value to investors, and am excited to continue to bring it to life.
