SHARK TANK APPLICATION: WHAT DO YOU INTEND TO DO WITH THE INVESTMENT FUNDS?, PART V.
Shark Tank Application
What do you intend to do with the investment funds? Where will the money go?
With the investment funds, we would like to invest it into three primary channels:
I. Inventory- We would like to grow our inventory to sustain our wholesale strategy (i.e., starting with local independent bookstores then expanding to national retailers such as Paper Source, Barnes & Noble, Sierra Trading Post and independent bookstores across the U.S) as well as taking advantage of the economy of scale to bring down our production costs and increase our margins.
a. Also, we are continuing to explore options to allow our Travel Kits to be customized and sold as marketing merchandise to Travel Agencies, Hotels, etc.
II. Optimization of Ecommerce- We would like to update and optimize our E-commerce site as well as initiate a marketing campaign with the goal of maintaining the majority of our sales being direct-to-consumer.
III. Employees/SalesForce- We would like to use the investment to expand our exposure at weekend-markets by hiring part-time employees to run more booths at markets. We would first expand our operations in Boston and New York (similar to Love Pops strategy) where we have proven success then look to expand to markets in other cities.
a. Finally, beyond financial support and with the anticipation of success, we would greatly appreciate some basic aid and direction in organizing our business structure in order to support our growth such as management personal (i.e., an Operational Officer, Marketing Officer, Sales Officer, etc. and basic labor positions to help with assembly and fulfillment).