try.it 22 A safe, social,
lending and borrowing network that connects people who want to try things, with the people who have the gear that enable them to.
Problem(s) 23 People want to
try new things, and sometimes the gear costs are prohibitive. People have stuﬀ sitting around that they want to utilize or monetize. Businesses have things they want consumers to buy, and are recognizing the value of try before you buy.
Collaborative Consumption One of the
‘10 Ideas That Will Change The World’ - Time Magazine The key reason Collaborative Consumption is taking oﬀ is because every new advancement of technology increases the eﬃciency and the social glue of trust to make sharing easier and easier.’ - Rachel Botsman, Ted.com - The currency of the new collaborative economy is trust. Currently a wave of startups (connectme, legit) ﬁguring out how to quantify your online reputation from one system to the next, creating a Trust Score that leading thinkers in this space believe will be more powerful in the 21st century than a credit score was in the 20th Century. 25
Market Validation FORBES estimates the
revenue ﬂowing through the share economy directly into people’s wallets will surpass $3.5 billion this year, with growth exceeding 25%. 27 - FORBES, Jan ’13
Market Validation Major companies are
announcing their presence in the ‘try before you buy’ world. It is a great way to build trust for both new and long standing companies. GM did it for two months in late 2009 and sold some 220-thousand cars with just 200 or so (less than one percent) returned. 28 - Bill Shrink, April ’13
So What. 29 People are
willing to try new things. They want to, but there is a need for a platform to facilitate that. Trying new things is proven to be beneﬁcial to people’s overall well being - research shows there are mental and physical health beneﬁts. Businesses are beginning to recognize that consumers want to try things before they buy them.
Core Hypothesis 30 There is
an opportunity for businesses to become more empathetic to consumer needs and desire to try new things, which will beneﬁt the business by increasing brand loyalty, and beneﬁt the consumer by making them more healthy.
Business Model (B-C) B to
C marketing is crucial to wider adoption (leveraging their distribution channels) and getting the word out to consumers. Brands and Retailers will use the Try-It platform to create Try-It events for their products. The Try-It platform gives brands tools for creating a landing page experience for users who want to try their products (including ‘ﬁnder’ functionality) and generates a short URL for inclusion in Social Media conversations. • 300 retailers and brands at tier 1, single event / single market x $150 = $45,000 • 100 retailers and brands at tier 2, single event / multiple markets x $1500 = $150,000 • 50 retailers and brands at tier 3, multiple events / single market x $300/month = $180,000 • 25 retailers and brands at tier 4, multiple events / multiple markets x $3k/month = $900,000 Total B to C revenue = $1,275,000 Cost to acquire 475 brand / retail customers = $300K, Salaries for 2-person sales staﬀ + $150,000 marketing budget Net B to C Revenue, Year 1 = $825,000 41
Business Model (C-C) Try-It will
charge a percentage of each transaction and will begin oﬀering Insurance/Protection for ‘stuﬀ’ as value for the fee in addition to data/dashboards as appropriate. EXAMPLE: start ONLY with Outdoor Sports (Camping, Kayaking, Biking, etc…) Cost to acquire users = $14/user 5 transactions per year x $50/transaction = $250/user - at a 10% fee structure our revenue per user is $25 Year 1, we anticipate 16,000 outdoor enthusiasts. Net C to C Revenue, Year 1 = $176,000 42
Financing Details Would Like To
Raise $1.65m A-Round • Provides 12 months of operating capital to get to minimum viable product and market launch • Use of proceeds • Hire GoKart Labs to build and release product Version 1 • Key hires: Sales lead, Opps mgr, Marketing mgr • Customer acquisition marketing test(s) 45
Problem 48 Every production at
every theater group across the country requires a similar but different set of props, costumes, sets and scripts, but most lack the budgets to buy or create everything then need to put on a great show.
And the problem’s getting worse.
49 "When adjusted for inflation, total government funding for the arts has contracted by 31 percent since 1992; congressional appropriations to the NEA declined by an inflation-adjusted 49 percent between 1992 and 2012. State funding declined by 25 percent and local funding declined by 28 percent during that same period." Source: Ryan Stubbs, Research Director, National Assembly of State Arts Agencies (NASAA).
Even though the arts make
us better. 50 Children who engage in the arts demonstrate: Better academic outcomes Higher career goals More civically engaged Source: National Endowment for the Arts, 2012
Solution A lending platform that
allows theater companies and schools to track and share their entire inventory of costumes, sets and props. 51 Browse Find the things you need for your production. Share Lend and borrow from inventories near and far. Track Keep track of what you have in stock and what’s on loan
Market Validation This intersection of
sharing and technology has contributed to an “own less, use more” mindset, backed by environmentalists and economists alike. 52 —FAST COMPANY, 2013 The revenue flowing through the share economy directly into people’s wallets will surpass $3.5 billion this year, with growth exceeding 25%. —FORBES, 2013
Financing Details Status • To
date, GoKart Labs has invested $36k and has completed: concept design, identity, business planning, competitive research Would Like To Raise $150k • Provides 2 months of operating capital to get to minimum viable product and market launch • Use of proceeds • Hire GoKart Labs to build and release product Version 1 • The team: Product Owner + Designer + Developer • Customer acquisition marketing test(s) • Timing: would like to close by 10/31/13 65