obelts- lean startup machine nyc

There isn’t a website that allows consumers to custom design quality and stylish belts. The Problem

Obelts: a “me-commerce” website that lets you custom design quality and stylish belts that look at fit exactly as you desire.

The Solution

•  Men and Women would be interested in Belt Customization

•  Customers often compromise on the style of their belts and find store experiences frustrating

•  Belts often don’t fit the customers the way they would like them to

Hypothesis

Survey Monkey (surveyed 48 people), “Cold interviews” (surveyed 20 people), Craigslist Ads, Blank Label.

Process

•  Men ages 25 through 60 are especially interested

•  Women are also interested particularly in gifting.

•  60% of respondents said they would give a custom belt as a gift, and 30% said maybe.

•  96% of survey respondents said they were interested in Obelts.

•  People often make compromises when buying a belt.

•  Many people cannot find belts that fit.

•  Some are even embarrassed to buy them in retail stores.

Findings

We created two landing pages using Unbounce to test our hypotheses about these findings and we are currently running two ad campaigns on Facebook

•  People who want to customize stylish belts for Men

•  People who can’t find belts that fit in both online and retail stores

24 Hour Strategy

• Manufacturing process is important because product must be of good quality.

• Affordability: Customers are willing to pay an average cost of $107.50 •  Belts will start at $60 and with customizations cap around $150

• Return Policy: Obelts will allow customers to their belts if unsatisfied. We will then remake it and send it to customer.

• Strategic partnerships with successful “Me-Commerce” Sites.

Critical Success Factors

•  Continued testing “Customizers” and Plus-size Markets

•  Focus on relatively small variety of customizations in beginning. Keep Manufacturing simple, and establish partnerships

•  Determine Manufacturing Logistics

•  Cost Analysis for profit margins

Short Term Game Plan

• Once we are a leader the “Customizers” and Plus-size Markets for men, we will begin targeting women too.

• Increase customization options- other materials, band width, styles

• Horizontal expansion- wallets, key chains, bracelets, watch-bands

Long Term Game Plan

We are going to pursue Obelts after LSM… Whoohooo! party on GARTH!