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A better tomorrow deck
- 2. • Many local organizations lack funding and awareness • Difficult to find local charities PROBLEM
- 3. • A brand that releases apparel that connects customers to an impactful, local charity. • Donates 51% of profits to the charity. • Each release corresponds to a specific charity OUR APPROACH
- 6. TRACTION Release One: Received 3 responses High traffic on website Messaged 200 celebrities
- 7. TRACTION Release Two: Consulted with marketing students Connected with Brandon Wimbush and ND football Generated record sales
- 8. SALES $3425.00 Current revenue (June-Nov) $- $500.00 $1,000.00 $1,500.00 $2,000.00 Release One Release Two Revenue 0 10 20 30 40 Release One Release Two Products Sold $900 Amount donated (June-Aug)
- 9. WHY NOW 0% 20% 40% 60% 80% Which Charity Are you Most Likely to Donate to? (Survey 2018) Local National International Not Sure Consumers are becoming more more socially conscious Local charities are heavily favored over larger 501(c)(3)
- 10. COMPETITION More Sustainable Less Sustainable Less Charitable More Charitable
- 11. MARKET TAM SAM SOM $368 billion $2.3 billion $23 million Target customers: • Conscious • Concerned • Local
- 12. Jason Won Founder Jack Schlehr Managing Partner THE TEAM Ian Sykes Account Manager Rafael Rodriguez Marketing Hank Lin Graphic Designer Sydney Cripps Marketing Director
- 13. Marketing $7,500 Inventory $5,000 Legal fees $500 Website $1,000 Mentor Total $14,000 THE ASK
- 14. QUESTIONS? ZOOM ID: 472 643 3131
Editor's Notes
- The main problem that we are addressing is that Local charities lack funding and awareness. community based charities run by people who are directly affected by the cause are better at serving those in need. these charities have an agenda to create change in their community, but they are unable to implement these changes due to the lack of funding. On the other hand, many large charities have the funding and awareness, but are not as effective because they are more prone to spend unnecessarily. WWF is one of the organizations that has been under public scrutiny in the past. In 2018, their CEO has reported taking an annual salary of 740,000 dollars. So every time an average person donates to this organization, a smaller portion of the donation actually goes to help the cause. The American Breast Cancer Support Association is another example of a poorly run charity. In 2015, they were charged with a 187 million dollar fraud case. There were reports that less than 4% of all donations actually went to aid. Another example is the Kids Wish Network that takes donations for terminally ill children and their families. It was reported that less than 3 cents for every dollar donated was actually used for helping the kids. The common trend between these three cases is that there is limited transparency in the organizations.
- Our solution to this problem is very simple. a better tomorrow. is an apparel company that connects consumers to impactful, local charities. We release clothing on a seasonal time frame, and 51% of all profits go to directly to a local organization. When a better tomorrow first started in June, we originally donated 100% of profits to our charity, but that just wasn't sustainable. Donating 51% will provide us with growth opportunities, while still making a meaningful impact in local communities.
- This is a screenshot of the live website that can be reached through the domain abettertmrw.com. Currently, all of our revenue has taken place through this website. For the summer release, we reached out to and partnered with a local Philadelphia organization called everybody eats. This organization was formed by four chefs who grew up in west-Philadelphia and decided to provide meals and essentials to their community after they were hit particularly hard with the coronavirus and looting. For future organizations that we partner with, we will reach out to the organization and find out how they are planning to make in impact for their specific issue.
- Here is our products page for the summer release. Sustainability is very important to us and We hold ourselves accountable by ensuring that any wholesaler we use is either WRAP certified or is manufactured in the US. The embroidered sweatshirts seen on this slide are from House of Blanks, which operates in Canada and uses the highest quality material and supplies for big brands such as Supreme and NOAH NYC. The design sweatshirts are from Independent Trading Company which is a family-run wholesaler from California. They are WRAP certified, which means that each garment is insured to be made ethically and sustainably. The embroiderers for the summer release was located in Philladelphia. For future releases, we have a local south bend, family-run embroidery shop who will be embroidering all of our products.
- So far, we have had two releases and for our first release, I personally direct messaged over 200 celebrities and received a few responses that led to promotional posts. The response that we received within the short time frame was amazing. 340 thousand people saw the promotional posts and from this, we were able to generate high traffic on our website. However, during these promotions, The website had to be put on hold several times due to inventory issues. Although we were not able to capture the sales from this promotion, we still had people reaching out to us and talking about how they wanted to bring a better tomorrow to their local area. sales, but more importantly, people started reaching out to us.
- For our most recent release, we were able to meet with former Notre Dame quarterback Brandon Wimbush and work with him. He loved our idea and supported us through a promotional instagram post. With the help of influencers like brandon and through word of mouth, we were able to generate significant sales for our second release. However, due to our current budget, we were only able to get a limited inventory of products. Within two weeks we ran out of stock for our most popular products.
- First drop 1500 From our first release in the summer we were able to generate 1500$ in sales Our second release was a month ago and we generated 1900$ in sales More importantly, we were able to greatly double the products sold which has grown our customer base and social media presence. Our 3400 in total revenue allowed us to donate 900$ to the charity everybody eats and the south bend center for homeless.
- Now is a perfect time for a better tomorrow. Current market trends are showing that consumers are becoming more socially conscious with their purchases. Established large clothing brands are attempting to fit this narrative by making sustainability pledges or by donating a small portion of their profits to charity. Additionally, surveys show that local charities are heavily favored when compared to national charities. Instead of trying to adapt to this shift, our mission from day one has been bring together sustainability and charity Furthermore, sustainability is another aspect that we are involved with. Sustainable fashion has been on the uptrend in the US given by the figure in the bottom left corner. This past Wednesday, I came across this good morning vogue episode that just launched its first episode. And this good morning vogue is another perfect example of why now is the time to act for a brand like a better tomorrow. Within the video, some of the most famous fashion designers talked about how the fashion industry is changing.
- Here are some brands that donate to environmental and social causes. In the bottom left we have brands like H&M that in 2018 were reported to abuse their employees in Bangladesh. In the top right we have a new clothing brand CHNGE that is centered around social justice that donates a portion of their profits to social causes. Our competition does not donate 51% of profits and does not match our standard for sustainability.
- First the conscious buyer. The conscious buyer is someone who already is buying from sustainable brands like Patagonia and Toms. The second customer is the concerned buyer who is interested in an issue and purchases our apparel to make an impact. By working with local charities we are able to target customers that live near these charities. These customers are more likely to make a purchase if they know that their contribution is going to have a direct impact in their community.
- The team started with one member a few months ago and has grown to six. We are working with 3 peers from the business school in order to help with marketing and accounting.
- A larger marketing budget would allow us to set up a brand ambassador program with other colleges. College students are passionate about the brand and offer a perfect target customer. We have already had students who heard of our mission and wanted to help us grow. For our next release we need to buy in a much higher quantity to lower our costs and to ensure we don’t run out of stock. Being able keep products in stock and increase our margins is crucial for our growth. In both of our previous releases we have lost sales because of items being out of stock. Currently our website in on the fourth page of Google, we that with search engine optimization we can bring our website to the first page.
- A larger marketing budget would allow us to set up a brand ambassador program with other colleges. We have seen that college students are passionate about the brand and offer a perfect target customer. We have already had students who heard of our mission and wanted to help us grow. For our next release we need to buy in a much higher quantity to lower our costs and to ensure we don’t run out of stock. Being able keep products in stock and increase our margins is crucial for our growth. In both of our previous releases we have lost sales because of items being out of stock. Currently our website in on the fourth page of Google, we that with search engine optimization we can bring our website to the first page.