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What problem does your solution solve?
When we first launched our initial customer base were hikers who weren't fans on having to carry external battery packs, but still wanted to have a signal to the outside world all while being environmentally conscience. As we grew though we saw that our customer base had grown from just hikers to people who wanted a stylish case that still allowed them to live a life away from the wall outlet as well as let them be environmentally conscious by occasionally charging the battery pack through solar energy.
What we're offering to people is a new technology that truly allows people to use their iPhones completely wirelessly, giving them the power to run all day without ever seeing a plug.
What’s the market potential for your solution?
The total market size for mobile accessories is currently at $81.5 billion and is forecast to grow to $101 billion by year 2020. Smartphone cases like ours makes about 36% of the mobile accessories market essentially giving is a market size of nearly $30 billion. Since our current product caters to iPhone 6, 6s, and 7 users we have over 200 million potential customers.
Who are your customers?
Early on our customers were hikers looking for a strong and durable case that could recharge their phone as well as allow them to live life free of wires by using the solar charging capabilities of the case. Now our customer base has expanded to people looking for a durable case that also allows them to be environmentally friendly and conscious. We are a B2C company that sells our products directly to our customer but are looking to expand over the next year to retailers and distributors.
How will you reach your customers?
We've currently using resellers who maintain strong social media profiles and get a 5% commission from every case bought through their network. We're also exploring the use of trade shows and retailers to sell our product.
How will you make money?
Since we sell direct to our consumer at the moment, we generate revenue through that medium and our expenses are much lower than our selling point allowing us to get profit margins around 55%.
What will your expenses include?
Currently our expenses mainly consist of the actual manufacturing of the cases. Each case cost us $26 to produce but when shipping in low quantities from our manufacturer the shipping costs are major ranging from $12-$25 per case dependent on how low a quantity we order.