Product and/or Service Description:
My business will try to create merchandise for bands and musicians using secondhand clothing. I will go to thrift stores and charity shops to obtain the materials I will use for the creation of merchandise. Using secondhand garments, I will make custom printed clothing. For example, I will sell customized merchandise with the symbols of the bands that are currently the most popular. More specifically, I plan to make massive supplies of merchandise for the fans of Imagine Dragons, Coldplay, Twenty One Pilots, Bring Me The Horizon, Foo Fighters, Muse, Maneskin, and others. I will send these items on the website of my company. However, I will also provide print-on-demand drop shipping services to young bands and musicians who have not gained popularity yet. For example, they will have an opportunity to contact my company and place an order for certain merchandise. So, I will produce these items and send them to these clients so that they could distribute it to their fans during concerts. Accordingly, I will provide both B2C and B2B services, working with individual customers and legal entities.
What is your initial focus? (How many SKUs? What initial features?)
I will focus on the production of T-shirts, shorts, jackets, caps, and bags. All items will come in one size. At first, I plan to produce merchandise for the bands I mentioned above. I will have at least three options per each category of items. Which will make 15 different models of T-shirts, shorts, jackets, caps, and bags will be available to the fans of each 7 bands. I will have to create at least 105 different models that will be available on my site. I will produce 10 items per each model, which means that I plan to have a stock of 1050 items initially. If I see that the demand for the merchandise available on my site is growing, I will expand the product range. Also, I might produce them in different sizes, colors, and prints. My next steps will depend on the scope of demand. When I add print-on-demand drop shipping services, the number of SKUs will rise significantly.
In what ways will you scale up? And in what time frame?
Reflecting on the strategies I need to use to scale my business up, I may use email marketing. I can use this strategy to reach out to bands and musicians who might turn into my potential customers. By sending them emails that describe my services, I would significantly expand the range of my customers, receiving more orders for print-on-demand drop shipping services. I wouldn’t have to produce new merchandise for my site, only having to contact companies that make prints on clothes and place an order there. Also, I can integrate AI solutions that would help me automate the process of taking orders. I would hope that I can attain this goal in 12 months.
In what ways will you grow? And in what time frame?
I plan to grow by involving more resources in my business. I will increase capital, investing more money in second hand items, which serve as materials for the production of merchandise. Also, I will grow by hiring more people. When I decide to expand the product range, I would need to add new marketing specialists, managers, and IT specialists to make sure that the items are relevant to the target audience and the potential buyers can buy them from our site without any technological constraints. I think that I will come to this point 6 months after I start my business.
