PRODUCT(S) AND/OR SERVICE(S)
Shavekit is a better way to shave, for less. We started the company with a mission to create a better way for men to take care of themselves and re-stock their bathroom.
We’ve started with razors because there is a very clear problem to solve. We feel that the existing choice is very limited, prices are very inflated and the majority of men don’t enjoy the process of remembering and shopping for replacement blades.
We restock our customers’ blades monthly, bi-monthly, every third month or whatever suits them. The first delivery includes a free handle too. Members can easily upgrade, change their delivery, pause, restart and manage their account online.
Razors are just the beginning, the long term plan is to build a range of distinct men’s grooming brands to restock the entire bathroom. Our shave cream is planned to launch in Q4 2015 and our moisturiser and hair products in 2016.
We subscribe to the “lean startup” methodology. We built a minimal viable product in our first year, quickly proved the model by ending the year with more than 3000 active customers. The plan was always to move fast and prove the model without having the perfect product offering, rather than wasting a lot of our own and investors’ cash on tweaking design, product development before we had proved that a lot of customers want what we sell.
We’re now 1.5 years into building our vision for a better way to shave and we have 4000 active customers, around 2000 of whom have been active for more than 6 months. The next stage is to build our product range and speed up our marketing and product development.
SUBSTANTIAL ACCOMPLISHMENTS TO DATE
– 4000 active customers.
– Lean, capital efficient. Year 1 was self-funded.
– 182k in revenue in year 1 (2014).
– 189k in Q1/Q2 2015.
– 2000 customers have been active for longer than 6 months.
USE OF PROCEEDS
We will be using the funds to
– Marketing – Existing channels and new
– Acquire more stock
– Develop new products (moisturiser and hair products).
– Launch new packaging
– Improve retention with improvements to the membership area and in package messaging.