Bidthreads.com is a startup that combines elements of auction sites, fashion sites, and membership sites. It will allow users to bid on designer accessories and clothing using bid packages of 74 cents per bid. Revenue will come from bid sales, item sales, and optional membership fees. The founders aim to attract a primarily young, fashion-conscious audience and hope to break even within 3 months before achieving steady profits within 6 months to a year. Critical success factors include popularity of online bidding, desirable brand name items, a creative t-shirt branch, and expanding to new fashion markets.

1. Combining the best of bidcactus.com, threadless.com,
jackthreads.com and gilt.com
Bidthreads.com is:
Katrina, Jacob, Matt, Chris, Chad &
Nathan

2. Revenue
sales: selling the auction won items Sources
"pricing is variable"
anywhere from 50cents to 500dollars
say actual retail price is 10 dollars to 5000 dollars
service fees: membership to the site is free
we will incorporate gender sections
possibly 10 dollar per month exclusive member benefits
advertising: limited on site, embedded in SEO, cookies,
targeted ads
bids: 74 cents for 1 bid. 1bid is worth 1cent. bid cost can be
altered, revenue: 73cents per bid sold. strategy: bid packages
purchase: conducted at auction win, mandatory after every win
shipping: payed by user, 5x-6x average shipping cost

3. Bid Package
74cents * 250 bids = $185
customer can only use $2.50 for bidding in a penny
auction
she will bid 1cent at a time on a brand new Armani
limited edition messenger bag
revenue: $183.50 cents
purchased for bid win: 22.51
shipping: 20 dollars * 5 = $100
retailed $1,000, bought at $200 sold for
Total: $306.01

4. Our Market
primary: 2/4 is 20-30 years old and fashion conscious going
after hot deals on our main page development ( gilt.com,
jackthreads.com, plndr.com)
secondary: 1/4 We see a future in the Younger Market "10-15"
tweens and teens16-21,creating brand loyalty with a creative
Tshirt branch in the model of threadless.com
tertiary: 1/8 30-50 looking for new fashions, reliving old style
4th: 1/8 people who need a look, style or theme outfit
gender balance 55 percent female, 45 percent male site part 1
and part 2 in T-Shirts is 50/50.

5. Cost Drivers
labor: 6 current project workers, website is outsourced, merch
maintained by current staff
goods purchased for resale: from online vendors, and fashion
collectors in NYC
energy: company will make use of college resources
and will make good usage of their own connections ie Reuben
Kerben founder of Spiral Universe and Google worker

6. Investment size
Quick Break down of $3000
$1000 for professional website, design,developer, sustainability
$1500 for merchandise to go on bidthreads.com
$500 for transportation usage, technology investment, legal i.e.
BBB Accreditation

7. Critical Success Factors
1. popularity of bidding online
2. highly desired designer accessories and later clothes items
on bid-site
3. 2nd target market creative tees, ie threadless.com
4. Development of new markets begin with highly desirable
fashionable labels ie Louis Vuitton and move to new designers
5. We should have 100 steady
users by the end of March 2011.
Break even by February 2011
Profit by March 2011-April 2011
May 2011- 300 steady users
profits exceed min $100,000 per week

8. what we like: membership, low
prices, good web format
dont like: no bidding!!!

10. what we like: bidding, realtime, price, penny auctions.
Bid PACKAGES at 30,50,75,100,125 and 250 bids
dont like: web format

11. what we like for secondary market: user submitted designs

12. Thank You
For
Your
Time