This project's funding goal was not reached on March 11.
This project's funding goal was not reached on March 11.
Ultimate aim: To become a very successful clothing brand that actively engages in humanitarian projects as well as acting as a launch platform that empowers young undiscovered artists allowing them to express their stories and unique artistic voices.
Overview of Ideas: Our idea stemmed from the worldwide success of photo and design based websites such as Instagram and Pinterest, where individuals upload beautiful photos and designs which, however, remain unused for any material purpose. We aim to promote the artists and create appealing products by using these works of art, and sharing them with the world. This makes us different from other clothing labels, who create designs and impose trends on the market. Young undiscovered artists, designers and photographers will have the opportunity to supply us with designs and photos to be selected as part of our product line. Having a constant flow of ideas and stimuli from designers within the target market will ensure that the brand remains constantly up to date with current trends and customer requirements. Every design provided and used by us will recognise and credit the artist/photographer/designer, who will also receive a percentage of the profits generated from items sold with their design. It will also help them launch their careers and promote themselves as designers raising their public profile and increasing their visibility within the market.
Our Unique points of sales will be:
1. Using artists from different countries and backgrounds, allowing them to portray their story and identity to the rest of world. We aim to create a multicultural environment to truly express the image of our company and its aims. We currently have artists from India, Honduras, America, Denmark, Italy and England actively working with us at the moment.
2. Our products will be made entirely out of eco-sustainable materials, thus promoting a 'green' business model.
3. We will also develop partnerships with other humanitarian organisations, such as Uniform, a company that helps provide children with greater access to education. Once we are a sufficiently established label, we will launch our unique recycling project where customers will have the chance to send back their old One Way LTD products to be recycled or to be re-used. From doing this customers will receive a small discount in future product purchases. 70% of the returned products will be recycled into new products and the remaining 30% will be sent to aid projects relevant of the time. Thus One Way will not only be environmentally friendly, but will actively promote global awareness and humanitarianism.
Progress so far: We have conducted extensive primary market research asking general questions an using some initial ideas and designs. Subsequently we have created a Facebook, Instagram, Twitter, Tumblr and Pintrest pages and accounts, along with our own company website and email address. We are currently using these to monitor target market response to possible design ideas. We have also developed our own unique company logo along with a catchy, recognisable motto. We have also done a lot of research into online suppliers and are in the process of collecting samples of our initial for quality checks.
Plans for the next year: To source reliable, high quality suppliers with the required capabilities, at the right prices. We aim to launch our first collection in April of 2016. We have decided that our first collection will comprise of t-shirts, tank tops, sweatshirts and posters and various accessories, such as iPhone cases. On the basis of success we will look to add other items to subsequent collections. We are also looking to launch our very own documentary/news channel on Youtube: OneWay Vlog Episodes! These will be interesting facts, news and documentaries carried out by our very own team nationally or around the world! The purpose of this is to raise awareness to unknown or unreported issues around the world, hence anything put on our programs will have some sort of environmental or social theme.
5 year goal: To be profitable and successfully integrated into the fashion market, based on strong e-commerce activity. The aim is to contact retailers and distributers that carry similar products in the street and urban wear market, and expand our distribution channels into international physical stores. We also hope to have been successful in launching many talented artists into the world of fashion design as well as making a valuable contribution to our various humanitarian projects both locally and internationally. We would also hope to have organised successful promotional events in partnership with big venues, and begin the sponsorship of undiscovered musically talented individuals who match the OneWay LTD profile. Thus, our own success and the success of One Way LTD as a brand will lead to the subsequent success and raising profiles of talented individuals within our target market. If one succeeds, we all succeed together.
1. Competing profitably in a very competitive market.
We know that the fashion market is extremely competitive, however, we believe that our unique points of sale will help us differentiate ourselves from other brands. By using young designers from all over the world, and not having a fixed set of designers, we can hopefully ensure that we maintain unique, appealing designs that will help us have a creative edge on other companies
2. Finding suppliers that produce eco-sustainable products with high quality at a reasonable price.
This is very important for us as it is one for our key company values. We are currently in contact with various private suppliers we will have to quality check samples from each individual suppliers. If the quality/durability to price ratio of the product is good we will begin ordering larger orders. The quality needs to be very high, but the wholesale price needs to be low enough for OneWay Limited to be able to be profitable while selling products to the consumer at an affordable price
3. Finding suppliers that stock the eco-sustainable products that we are looking for.
OneWay LTD. will be starting with a limited product range to ensure that products and designs work. After that we look to branch out into different product categories such as snapbacks, beanies, sweatshirts and hoodies. We need make sure that we find eco-sustainable suppliers for each product and make sure that these can be made from eco-sustainable materials. However, having worked as an agent for the past 3 years,and having concluded big stock orders around the world, I am confident to be able to pull through in finding what we are looking for.
4. Finding young designers who believe in the project without expecting monetary rewards immediately.
So far we have been in contact with many young designers, however, many of them are looking for immediate monetary rewards for their work. We will buy some one off designs from some designers but on a limited basis, as we are looking for people who believe in our brand values and our mission and who are thus happy to work on commission.
5. Maintaining effective communication with all of our stakeholders.
As we hope to create a truly global brand, we will need to be able to be in constant communication with our designers, partners, suppliers and customers! This is a big challenge but we will eventually have separate teams that communicate with each group. Within the company we will create a flat organisation, where information flows freely between the different areas of the company. We will create a company portal where our employees can communicate efficiently and continuously.
6. Inventory and finance management
As the business grows and we start to produce a wider range of products, our stock flows, commission calculations and other financial elements will become more and more complicated. Stock-outs can be very costly but keeping high levels of inventory can also be equally as costly, so we need to achieve the right balance, unless we can succeed in developing an effective kanban system with our suppliers. With the money we hope to raise we will invest in software that will enable us to manage our stock and finances easily and accurately. Our Head of Operations has studied modules in supply chain management and accounting so has a lot of knowledge in these fields.
7. Problems associated with recycling process.
Even though this is one of our unique points of sale we must understand: how much does this process cost? Will people be willing to send back their clothing to us? How will we market it? This section will be handled by myself and our marketing team.Learn about accountability on Kickstarter
We have developed a budget for the funds we hope to raise and you can find a detailed spending plan below:
1) €200 for samples of the products for the first collection. We will need these samples to verify the quality of the products again before we make larger orders as well as needing them for photographs for the product catalog and promotional photos and banners.
2) €4000 will be spend on stock of the first collection. This €4000 includes 300 t-shirts, 300 vest tops, 200 phone cases, 600 wristbands and 500 lanyards. The latter two items will be used as promotional items while the others will be sold. These quantities have not yet been discussed with our supplier so there is a chance that they could be lower due to bulk order buying.
3) €1110 Annual subscriptions to Adobe Illustrator, Quickbooks (accounting software) and Unleashed (inventory management software). These software are necessary to make sure that all our financials and stock levels are accurately documented and can be accessed easily.
4) €1100 Payment of designers who are providing designs on a single payment basis. Eventually we hope to work with designers on a commission basis but we are having trouble finding designers who want to work on commission right from the start. At the moment we have 40% of designers who wish to be paid a guaranteed amount for their designs and we do not plan for this percentage to ever grow beyond 50%. As the company grows and becomes more well known then designers will have more confidence that their hard work will be rewarded by high sales volumes on which they receive a percentage commission. Each design price ranges from €120-€220 depending on the amount of work required.
5) €1200 Marketing and advertising of the products on social media and other platforms. This is important as we need to enter a very competitive market and therefore need to be present on social media and in sale locations.
6) €450 Development and maintenance of our personal website with integrated shop. This is important as we hope to sell our products all over the world and as the internet is becoming a larger and larger part of everyone's lives, we believe that e-commerce will continue to grow.
7) €850 Shopify Pro account. This will help us to increase our sales through social media as customers will be able to buy products on the same platform that they interact with their friends and share photos. Facebook has 1.59 billion active users worldwide and thus we believe that having a Shopify shop will give us even more access to active customers.
8) €600 Photo shoot of models and products for first collection (for each season, Summer and Winter) which we will used to generate promotional materials. We will need to pay a qualified photographer, and possibly some models, to take photos of our products. It is important that these are of a high enough quality as it will be the first thing that the customers see when they visit our social media pages or website.
9) €600 To develop two product catalogs for our website, social media pages and any distributors. We will have one for the Summer collection and one for the Winter collection. These are important as they show customers and distributors our capabilities and all the products we offer.
10) €500 Packaging for products. We have not yet decided what kind of packaging we will start off with but we will definitely have some kind of tag attached to the product. We will research different packaging suppliers and their capabilities along with our requirements at the time and find the most suitable solution.
11) €800 Company registration, trademark registration, contract validation. There are various administrative costs that we will incur as a company that need to be included.
This amount totals to €11,410 on which we have added 20% as we know that there will probably be other costs that we will incur that have not been included in the budget as they cannot be foreseen. Any extra money will be put into the business at a later date, possibly to replenish stocks, increase our advertising or pay for extra designs.
Once we have spent the €14000 we are hoping to raise, we will hopefully have built strong foundations on which we can continue to grow as a business. From the revenue we generate from the first collection of products we will have enough funds to pay for the next order of products and so on. We will continue to sell our products making a profit on them by adding a mark-up on the price agreed with our suppliers. We also hope to sell our products to other retail companies who will buy them in large orders. We will also add a mark-up to these orders, however it will be lower than when we sell to end customers. We will agree a maximum and minimum product price with these retailers from which they can then set their own prices to meet their own company goals.
As a company we will follow a mark-up revenue model. We will buy the finished products from our supplier and increase the price at which we buy the products by a certain percentage. This will depend on the total cost of producing each item, incorporating a percentage of our fixed costs. We will research our competitors average price for each product and will then set the mark-up based on competitors prices and our costs. We will have two different mark-ups, one for the end customer, which will be higher, and one for wholesale customers, which will be slightly lower.
At the moment, no we don't. We have planned to develop one with the funds we hope to raise. At the moment we have created a Facebook page (https://www.facebook.com/onewayltdfashion/ ), Instagram (oneway_ltd) and Twitter (OneWay Limited) on which we have started to communicate with designers and potential customers about future design ideas and plans.
- (30 days)