Something old, something new Item Type Honor's Project Authors Cocuzza, Giovanna Rights Attribution-NonCommercial-NoDerivatives 4.0 International Download date 02/10/2021 20:52:14 Item License http://creativecommons.org/licenses/by-nc-nd/4.0/ Link to Item http://hdl.handle.net/20.500.12648/1876 Something Old, Something New Abstract This thesis is in the form of a business model for a new company, Something Old, Something New, an app that allows brides and bridesmaids to buy and resell used gowns in order to be more sustainable. The goal of this presentation is to pitch the business to investors, and get them to invest in the company. Research was collected online using various wedding planning sites. Keywords: Marketing, Management, Entrepreneurship Ask #1 I am seeking $90,000 for 20% equity in my company, Something Old, Something New. Current Round of Investing: Friends & Family Founder's Story Social Problem & Opportunity The social problem is that wedding attire is usually unsustainable and wasteful, especially considering the dress is only being worn once. The fashion industry produces 20% of global wastewater and 10% of global carbon emissions. Plus, textile dyeing is the second largest polluter of water. There is an opportunity to increase the sustainability of wedding dress shopping by getting dresses second-hand. Social Solution The goal of my company is to provide brides and bridesmaids a more sustainable option by providing them with a way to find their ideal dress second-hand. Wedding attire is usually only worn once, so you are still bound to get a dress of great quality for the special day while also helping the environment. Prototype Plan & Features Value Proposition (4 Ps) People Planet Place Profit We want to help We promote The bridal Commission on brides find their reusing dresses community peer-to-peer dream dresses instead of buying would save sales money buying for themselves into the textile second hand. and their bridal industry. party. Business Model This business is a service that connects sellers and buyers for the purpose of exchanging bridal fashion and operates on a commission-based business model by charging a 10% commission to the seller. Target Market / Market Size Newly engaged brides and bridesmaids in the United States of America. TAM (2.4 million weddings) Newly engaged brides and SAM bridesmaids in the Tri-State Area. (94,185 weddings) SOM Newly engaged Pilot: brides and bridesmaids New Newly engaged brides in York State New York City. (14,606 weddings) (60,532 weddings) Marketing & Sales Marketing & Sales Underlying Magic What puts Something Old, Something New above the rest is our desire to not only help environmentally conscious brides find their dream dress, but to make sure it is absolutely perfect on the day of, from the style to the fit. This is why in our app, we include a feature to highlight the top rated seamstresses in the Bride's area. Comparative Attributes Preowned Something Old Nearly Attributes Tradesy Still White Wedding Something New Newlywed Dresses iPhone App Wedding dresses AND bridesmaids dresses Recommendations for seamstresses in the area Shoes & Accessories Team Giovanna Cocuzza SUNY New Paltz Marketing & Management Student Founder & CEO Christopher Napolitano Susan Tomaski SUNY New Paltz Professor SUNY New Paltz Professor Advisor Advisor Current Status Expanding Developing app Gathering Growing presence on prototype for feedback from presence on social media sellers potential users Pinterest platforms Timeline September September September September 2022 2023 2024 2025 Form connections Expand our niche to Expand nationally Team up with other with more other formal wear companies who do not wedding bloggers such as prom currently have apps dresses Ask #2 / Use of Funds We are seeking $90,000 for 20% equity in our company Something Old, Something New. Friends And Family Pledged: $50,000 Use of Funds: Developing the app: $80,000 Advertising and Marketing: $60,000 Growth Strategy ● Expanding into dresses for other occasions (mother of the bride/groom, prom, sweet 16, quinceañera, communion, christening, bat mitzvah, etc.) Exit Strategy ● Sell to Nearly Newlywed or Preowned Wedding Dresses. Since neither of these companies have an app to pair with their websites, this could be a great opportunity. 5 Year Profit & Loss Projection Assumptions: Revenue: ● Anticipate the average price per dress being $1,000 ● Commission Fee: 10% of what the dress sells for Expenses: ● No wages for Founder until Year 3 Year 1 Income & Expenses Thank You.