[0:00] e [0:48] good evening good evening and welcome to hatch Bloomington this is the top 10 pitch night my name is Christine Levens [0:55] I am from the Minneapolis Regional Chamber so happy to be here today and partnership with the city of Bloomington for this competition uh we welcome you [1:02] of course uh we've got a live audience here I don't know if anybody can see him who's watching at home but they are here the theater is full and our judges are [1:09] ready to go thank you for your service judges all right we're going to get started we are going to uh bring each of [1:16] our um competitors up they're going to have eight minutes to do their pitch they'll be asked some questions by the [1:22] judges and then we'll sequentially move um to the next group sorry shot clock is eight sorry about that um but before we [1:28] get started I would like to bring up mayor Tim busy who is going to open up for us [1:38] tonight thank you good even good evening everyone I [1:45] am I'm Tim busy I have the honor and the privilege of serving as the mayor of the city of Bloomington great to see [1:50] everyone thank you for being here at our hat Bloomington top 10 pitch night let me just say if you're here for Newsies [1:56] you're in the wrong place right now just step Jud right now except of course our [2:02] judges I dropped sorry uh thank you much for being here [2:07] uh I I want to congratulate all of our top 10 pitchers I can't wait to hear the [2:12] pitches of the the uh aspiring entrepreneurs and the work that they have done and are planning to do uh so [2:19] thanks to them and congratulations to them when they come in I I know this group will be so supportive but this is [2:26] tough this takes a lot of guts and so I greatly appreciative of our top 10 I'm [2:32] appreciative of all the folks who have applied and tried to be part of this because this really does take guts and [2:37] I'm I'm I'm in awe of the folks doing this because it's it's very cool so thank you to them thank you to our [2:44] family members and supporters I see we have we have a lot of folks here way to support your folks that's great and I'm [2:49] very thankful for you to do that thank you to our judgmental judges here and thanks for not judging me for wearing [2:55] just a a polo shirt and jeans this evening thank you for that but thank you for your goes into it thank you to the [3:01] Minneapolis Chamber what a great relationship we have between the city of Bloomington and the Minneapolis Chamber and finally thank you to all of our [3:07] Bloomington City staff that are here and that are working on this this is a big undertaking and it's uh it's really cool [3:13] and it's kind of a unique thing here in the Twin Cities here in Minnesota and I it's just great to see how well it's [3:19] going and how well it's being done so well done to staff as well good evening everybody thank you for being here [3:25] buckle up I think it's going to be a great ride thanks [Applause] [3:31] folks who are in the room we're going to just take a pause for just a minute we've got an audio think that we're [3:38] gonna if you did that [3:45] wasent so give us just a minute then we'll get started we've got some builtin time got a break at 7:30 hey which one [4:07] I mean like all right can't imagine what this looks like okay all right folks um [4:13] you have noticed that there's a QR code right there on the easel there'll be one on the screen um part of this [4:20] phase of the competition is community voting so if you scan that QR code you are able to vote for these pitch [4:26] contestants but you only can vote once so so you might want to wait till the [4:32] end so there's your reminder one vote wait till the end unless you are just [4:38] enamored and you've picked your picked your pitch um 10- minute break at 7:30 [4:43] other than that why don't we have our first contestant all right pitch number one [4:49] Arbor furniture company come on [Applause] [4:57] up thank you [5:11] okay great hi everyone my name is Matt Rens [5:17] and I'm here to share my vision for a new kind of furniture store Arbor Furniture Company don't worry I build [5:23] the furniture you won't need any Allen wrenches or instruction manuals let's get started [5:30] so I'm actually from Bloomington I grew up here and I spent my whole life here other than my time out at College in Rapid City getting my bachelor in [5:36] mechanical engineering in 2020 I returned home and I quickly began my career as an engineer where I still work [5:43] today but I began building furniture on the side in 2022 I started my LLC and [5:49] quickly began taking on many more projects and this past spring I've rebranded to Arbor Furniture Company [5:55] under the new business plan I'm here to share today so over the past years operating an LLC I've completed over C [6:01] 40 custom quotes and these custom quotes are much more detailed I provide renderings that I create in Fusion 360 [6:07] which is a 3D modeling software as well as spec prints that give the client a good idea of the form fit and function [6:13] with the isometric views and the dimensions all that's pretty standard but of these 40 quotes I've won 16 of [6:18] them so that's a 40% quote to close ratio four times higher than average in the industry however I wanted to build [6:25] all 40 of those pieces so when reaching out to the clients asking for feedback over and over I've heard they just can't [6:33] justify spending the money on the custom piece when they have a bunch of other things they need to buy for the space as well they're working on a whole project [6:40] and that's when I thought of the simplest solution Arbor furniture company for homeowners who are dissatisfied with the extreme prices of [6:46] furniture my new subscription models change the way you buy traditional retailers want you to spend thousands on [6:52] one single piece of furniture but at Arbor we have subscription plans that make slow consistent changes to your [6:58] space over time this way we can deliver multiple pieces and satisfy the [7:04] solution so the different subscriptions we're offering are the collection subscriptions and the custom [7:09] subscriptions The Collection subscription focuses on small furniture and decor our first collection will be [7:15] called The Arbor roots and it will be priced at $250 a month the key with the collection [7:21] subscription is that this is providing you the opportunity to accept delivery yes I'd like that piece or bank it save [7:28] up as a credit and build toward a larger footprint piece of furniture in the future like a dining table or if you [7:34] know exactly what you're looking for we can directly go down the path of the project and fulfill your needs by [7:39] designing Furniture specific for your space and we can stretch this out to make it comfortable for you no shock in [7:45] your bank account so anywhere from 3 to 24 months we can deliver consistently while you're paying a comfortable [7:51] monthly payment now that we've made Furniture easy to buy let's make it easy to replace so when we deliver a let's [7:59] let's use a dining table as an example when we deliver an arbor dining table we're willing to accept your current [8:05] dining table in the out with the old program this way if you want a direct replacement you don't want to pile your furniture in your basement saving it for [8:11] next year's Citywide pickup or haggle on Facebook Marketplace we can take it off your hands and what we'll do with it is [8:17] sell it again at the arbor Outlet this way we're already building new furniture [8:22] but we're offering used Quality Furniture to have a broader customer base as well if the quality is too poor [8:28] we'll simply donate also we want our large footprint Furniture to hold value at Arbor so if [8:34] we deliver that table to you and then a few years later you want to redesign you had some kids you need a bigger table we [8:39] can build you a second piece and award you a credit when you return your previous Arbor Furniture this way we can [8:45] refinish it and resell it into the market again this way it's a much more sustainable process of furniture other [8:53] Furniture competitors don't care what happens to your piece when it ends up in your home throw it in a landfill we [8:58] don't want that so why are we here today it's for the prize funding which will use 80% to go [9:04] directly to the retail space we'd like to start off with a small retail space in Bloomington where we develop a [9:09] Furniture Gallery the plan would be to scale up eventually to a dual purpose space with a full wood shop in the back [9:15] and a Furniture Gallery out front for now in the early years we need to keep the overhead lower so we're going to [9:20] focus on this retail space we want to bring the community into the space especially outside of sales hour so they [9:26] can experience the furniture so we'll have open study time being able to [9:31] reserve the lounge for um small group meetings and also possibly some live music we also want to bring in local [9:37] artists to widen our Decor offerings so that way they could sell on consignment this way we don't have to make every [9:43] single piece of Home Decor finally that Arbor Outlet I just talked about will start as a portion of the store and then [9:49] this shows the scalability we'd be able to upgrade to a warehouse Outlet once we're able to have enough volume of used [9:55] furniture moving through the outlet so I touched on the 80% of the prize funding [10:01] going directly toward the retail space what's the remaining 20% so we'll need that earlier on we need to have a clean [10:07] interface for subscribers to be able to log on manage their credits and know what pieces are being released and plan [10:13] ahead toward their big piece we're not going to be able to hold subscribers or even onboard them if we're trying to [10:18] communicate over email or text so we need to work with a third-party developer to build an online dashboard [10:24] or an app in order for customers to have the most seamless interaction with their subscription [10:30] speaking of onboarding subscribers I have a rough plan for how I'd like to see subscribers added and and you'll get [10:35] to see how that affects the numbers in the upcoming years this is a early startup concept so I don't have this [10:42] hard numbers over time the subscription is not currently live but in the first year I'd like to see at least 75 [10:48] collection subscribers and six custom subscribers the reason those numbers are up there is that's what I'm confident I [10:54] can produce if I started full-time tomorrow in my own shop without tooling Investments so I could quickly increase [11:01] that as I do make tooling adjustments and efficiencies in the second year I'd like to see a 50% increase at least in [11:08] the collection subscription and a few more custom subscribers the key with the collection subscription the more [11:13] subscribers we have the bigger the volume and the lower the piece price it's going to take for me to produce these these bulk items so as the total [11:22] subscribers go up the margin will also go up I'm going to be pushing for a 40% margin which is that industry average in [11:28] the furniture industry in year three I'd like to see at least another 50% what I'm showing up on the [11:34] screen is a 75% increase in subscribers again this is just showing how the numbers would change over time as we can [11:40] onboard people into the subscription and I'm I'd love to see a doubling of the custom subscribers and depending on the [11:47] demand as soon as we have more than 10 custom subscribers that's the point where I'll need to hire more hands [11:53] that's when I'll I'll first start with part-time help in the shop and then I will scale up to bring more people in [11:58] including the sales floor on the retail space but then eventually a lot of help in the shop finally some brief value [12:06] numbers uh the lifetime value of the customer calculated for both subscriptions and using a 5 to1 ratio [12:13] that gives us a brief cost to acquire the customer number that's what we can spend to go out in time and money to go [12:19] get these subscribers signed up so as you can tell Arbor has a lot of room to grow but at the end of the day this idea [12:26] is simple we're going to Design Furniture that's on par with the design and quality of a West Elm or ran board [12:32] but we're going to meet the customer where they're at and make the most smooth transaction they've ever [12:38] experienced buying and replacing Furniture it'd be an easy mistake to let auor pass by and find its home somewhere [12:44] else you all only have a few days to decide but I know you'll go home tonight knowing which ideas have the most [12:49] potential in our city I'm from Bloomington my family's lived here since 1966 back when there were dirt roads [12:55] right off Portland so it's exciting to watch this competition because I know Bloomington needs some new businesses to [13:01] come in and shake things up so I'm excited to share more details with more time in August and we can really [13:06] determine if Arbor is the right fit and Bloomington is ready for Arbor thank [13:13] [Applause] [13:22] you great thank you I'm going to give the microphone to the judges here while they're putting their questions together [13:28] and um doing some [13:33] notes uh so um quick question on this membership model uh to make sure that we [13:41] understand that so if if I'm a custom I would pay 250 a month and that gets me [13:49] points and do the points then go towards the furniture that I might need in five [13:54] months or six months and goes through the to reduce the price of of the actual [14:00] piece likewise with the um uh the custom [14:05] yes so the collection subscription is a fixed price at 250 for everyone and so we would be releasing products each [14:11] month this month it's a side table next month it's a plant stand the the next month it's some wall art or or another [14:17] piece of Decor if you want that side table you would say yes I'd like that piece and then we would ship it to you [14:22] if you don't need a side table your house is full of them and you're satisfied with them you can bank that [14:28] which would save it as a credit and that credit would be worth $250 as a toward a large footprint piece in the future like [14:34] a dining table or some other piece that you'd like to build toward so yes you'd be receiving credits every time you bank [14:40] it okay and if someone else do sell it to the public walking in without [14:45] subscription yep and then would would the subscribers get first first dibs on it if they have [14:52] first priority at lead time they would have more custom options and the walk-in price would be higher to the public so [14:58] the subscribe drivers would win in three different ways yep thank you for the question good [15:05] evening thanks for being here um so it sounds to me like you're guaranteeing a new piece per for every month so if I'm [15:12] subscribed to this I can guarantee myself I can guarantee that I can see in [15:18] a course of a year for example 12 pieces is that correct the collection subscription yes 12 New pieces each year [15:25] okay um how does this differ in your mind from a layaway plan for example example where you know I know that this [15:31] costs X number of dollars and I have to pay on it every month and then at the last month I get to take it home with me [15:37] how does that in your mind differ so it's slightly different because you'd be choosing periodically which products [15:43] you'd like to receive so it's kind of tuned for you and you could eventually store up multiple credits toward a [15:49] different piece in the future so there are there are similar themes to lay it way but it is slightly different in that [15:55] way okay um two other questions really quickly one do you plan on what do you [16:00] plan on doing with the money that you're holding for the customer and what is your what is your guarantee against [16:07] default for example sure sure so that brings up a great Point uh we would [16:12] obviously need to some some legal advisory in the beginning uh but if [16:17] there was any default uh those would not be fulfilled uh but if there was a canceled subscription or something that [16:23] would be a little different if they had credit stored up they could still cash in their credits and get smaller items [16:28] rather than a full large scale piece uh but with their money that would be a lot into inventory uh into stocking for the [16:35] wood material that we actually need to do to produce the pieces as well as other tooling uh and advertising so [16:42] there would be cash around still uh but that money would not be necessarily guaranteed other than the credits that [16:48] they are already earned right okay last question if if the piece that you're offering uh on month two uh is only uh [16:56] cost $125 and my subscription is $250 does that 100 other even if I take it [17:01] does that other 125 get banked as credits no so so every piece that we design is going to be tuned to have as [17:08] close of an average gross margin of 40% that's what we're going to build towards in the beginning with the collection [17:13] subscription it might be a little lower closer to 30 but we want to push towards that 40% industry average so certain [17:19] pieces yes might be slightly lower cost to produce but at the end of the day at the customer the value is going to be [17:24] 250 and that's how we will design and build each piece okay thank you [17:32] so thank you just had a quick question about your capacity you indicated that you had 40 quotes you did 16 but if you [17:39] did this you'd be doing somewhere in the neighborhood is 75 pieces per month and [17:45] yet the money is going towards the retail location not the productive capacity can you help me understand how [17:51] you're going to build these yes yes so the reason the web development is so vital is because I would start fulfilling the subscription and [17:57] onboarding subscribers before before I open the retail space in order to give me a front load of cash flow coming through and start orders moving as for [18:05] the total production uh the 16 orders those pieces are custom siiz large [18:11] footprint pieces rather than the bulk batching orders so one of the 16 quotes was 100 tap handles for finegan Brewery [18:19] so that was batching 100 tap handles and that was a whole process where I needed to work on my efficiencies and my [18:24] manufacturing processes so in that case that is 100 physical pieces but it's one one of those quotes that I won right so [18:31] production wise I can keep up with that per month the 75 for sure all right um kind of merge two [18:39] questions so um you assume that um the higher price [18:45] point would have more so 75 or six or whatever I can't remember the collection versus custom so how do you make how do [18:51] you make that conclusion that more people would go for the higher price point monthly versus lower and related [18:57] question how do you you intend to Market to U because this is generally higher higher uh net worth clientele I'm [19:04] assuming uh how do you intend to Market to that specific segment sure great question so the the average price that [19:12] we're estimating for the custom subscription is actually higher than the collection subscription the the $100 [19:17] that was shown in the first slide it shows you the minimum that we would probably end up at but depending on the pieces you're ordering it's going to be [19:23] closer to we're calculating an average of $650 a month so as you're saying these higher net worth and the reason [19:28] for that number is six pieces the average price in the catalog from small to large piece right now is $1,300 so [19:37] over 12 months if that's an assumed average retention rate that'd be $650 a month right so that would be the higher [19:43] price uh the reason I'm I would like to frontload the collection subscription is [19:49] because that's batched work and smaller footprint so that's something I can keep up with production wise if I was [19:55] sticking to only custom subscription that would be a lot more large footprint work and I wouldn't be able to do as [20:00] much volume and serve as many customers so that's why I'm front-loading The Collection subscription until I have the ability to hire another [20:07] individual that kind of leads to my question so from your pitch it sounds like you're moving to more of a a mass [20:13] Market um business operation so can you share with us kind of how you decided to [20:19] um make that switch from more of a custom high-end furniture um business and shifting into the mass Market yeah [20:26] so it's all about finding your C customers right so the custom furniture market is is difficult to find specific [20:32] customers but uh the the key here is we're trying to make all these custom options available to to more people [20:38] right our mission is to make Quality Furniture with custom options accessible to all so the large footprint pieces [20:43] will all still have custom options even in a mass manufacturing if we ever get to the full scale that you could picture [20:50] of a of a Rin board or a West Elm at that production levels someday uh we will still offer the custom options [20:56] because I think that's something that the future will hold we will all be able to buy whatever we want and we will not stop delivering that but the smaller [21:03] pieces in the collection subscription that's where we're going to have more mass-produced designs those are not customizable so the small small items [21:10] will be more production based and then the large pieces will still have custom options have you done any [21:16] um client acquisition costs calculations between your your collections and the [21:22] custom yeah so what we would put toward toward the acquiring the customer yes so [21:27] the lifetime value of the customer in the collection subscription is $600 and we're using a 5:1 ratio to get to [21:33] our cost to acquire the customer which puts that at $120 that's what we would use in time and money and in the the [21:39] custom subscription I forget the lifetime value but I know the cost to acquire the customer is [21:44] $624 for the the custom subscription there and I can put those numbers up [21:50] if thank you we have run through our pitch time Matt thank you very much [21:56] appreciate it and you come on all way [22:03] you can leave it so judges going forward I'll give you like a two-minute um call [22:08] time when we're getting down from the8 minutes [22:32] okay judges we're going to bring in our next pitch competitor uh pitch number two is Bloomington [22:39] greens we ready to [22:44] [Applause] [22:50] go going a let in more of our live studio [22:56] audience all right all right everyone's getting settled come on up Bloomington greens your mic [23:02] should be live and ready to go okay you've got a clock right [23:12] there it's too small I can see [23:18] it I'll try they're too [23:25] small yeah [23:38] okay it's okay ready [23:48] okay good evening my name is Prince [23:54] yakon thank you for giving me the opportunity to present broing greens a [24:00] business committer to transforming Urban agriculture right here in brington our [24:06] mission is simple to provide fresh locally groom produce all year around [24:14] using Innovative and sustainable techniques like vertical farming Hydroponics [24:22] aquaponics and making use of aeroponic towers in our Greenhouse environment [24:28] this Mets not only ensure the highest quality of fruits vegetables helps but [24:35] also significantly reduce our carbon [24:45] footprint next slide so one more the [24:50] world economy Forum 2023 May actions that 65% of consumer [24:57] want to make the right spending decision for their health and [25:03] sustainable life given the 86,000 populations in Briton the demand for low qu so [25:11] sustainable produce is rising exponentially consumers are increasingly aware of the benefits of fresh locally [25:18] grown food for their health and the environment current Supply does not mean this demare especially in urban areas [25:25] where access to Fresh Produce can can be limited and expensive traditional farming and long distance Transportation [25:33] contribute to carbon emission and climate change this G present a significant Market opportunity for [25:40] brington greens to establish itself as a key provider of sustainable low color gr [25:47] produce for Briton next slides [25:54] problem broon in the surrounding metro area of face uh several [26:01] challenges when it come to full accessibility and [26:07] sustainability many of the neighborhoods are considered full deserts with limited [26:13] access to fresh and nutritious food next slides brington greens addresses these [26:20] issues head on by growing food right here in our city our produce will not [26:27] travel far ensuring its freshness and sustainability Bloomington greens will [26:34] produce fresh fruits vegetables HS and micro greens all year round using [26:42] sustainable practices we are more than just a farm we are a community Hub our [26:48] grocery store will be centrally located offering not only the produce not only our produce but also other [26:56] locally Source Goods we will engage the community through our [27:01] educational programs workshops and events focused on sustainable [27:07] agriculture and healthy eating our mission is to revolutionalize local food [27:12] production Foster environmental stewardship and enhance Community wellbeing through Innovative [27:19] agricultural practices next slides as mentioned we engage in [27:27] vertical farming Hydroponics aquaponics and rooftop garden next [27:36] slides vote brooming on greens because we offer the freshest [27:42] lcal groom produce that is both environmentally friendly and support the [27:47] local economy unlike our competitors our farm to table approach ensures that our [27:54] customers receive the highest quality product [28:00] our commitment to sustainability and Community engagement set us apart we are more we are not just [28:07] selling food we are fostering a healthier more connected Community [28:13] through our educational program and Farm to Table approach next [28:21] slides our Target customers will be the residents of broon and the surrounding [28:27] cities we will use social media to ra our [28:33] target audience that will be our Market strategy the table chart and graph on [28:39] the right showcase the projected revenue and 20% profit margin for the next three [28:47] years next slides uh this is our startup expenditure next [28:54] slid more detail expenditure next SL morning projection next slides we will [29:01] expand to other City uh where we see the need for urban [29:07] farming next slides uh join Bron Greens in cultivating a sustainable feature for [29:14] Bloomington and Beyond through Innovative Urban farming and culating [29:20] engagement can you please play play the video uh in in the link for me [29:28] oh my God it's a gigantic humongous Buck Choy wow look at the size of that we're [29:34] going to harvest this cabbage from the aeroponic tower garden here just pull it right out of the groin part here it [29:41] comes oh my God look at the size of this thing here it Roots here it comes wow [29:49] look at the size of this coal Robie I've never seen one so big all right there's only one way to harvest a zucchini grab [29:56] it like this Twist and Turn just like that [30:02] boom wow look at this thing it's humongous oh oh my God this broccoli is [30:10] a freak of nature it's not even normal how big it is we have a Batavia lettuce [30:17] look at this absolute Giant and we have the first eggplant of the Season that is ready check this [30:23] out wow what a beauty Italian striped zucchinis will grow really big check out [30:31] the size of this it's going to harvest this purple cauliflower here make sure to pull it out with all its roots oh my [30:38] God here it comes wow what a Beauty look at these [30:43] Beauties the next video oh my in the middle of the desert in Kuwait [30:50] strawberries are being grown in a greenhouse filled with 150 aeroponic Towers this climate controlled [30:56] Greenhouse allows the farmers to grow year round even when the temperatures can reach a blistering 50° C Outdoors [31:03] there is a second Greenhouse with another 150 aeroponic Towers focusing on leafy greens and aromatic herbs where [31:09] they are growing everything ranging from basil to lettuce kale to cilantro and even exotic varieties like cinnamon [31:16] basil it was only 2 years ago that we were in Kuwait setting up this vertical farm with our Kuwaiti Partners known as [31:22] Beyond Organic fast forward 24 months later and this aeroponic Farm is yielding Bountiful Harvest this Farm was [31:29] set up in support with the Kuwait foundation for advancement of Sciences with the goal of introducing modern you [31:36] can stop the video I mean I that was just to give you a glimp of what we will be doing here in Bloon so we'll grow our [31:44] food right here in the greenhouse environment even in the midst of winter [31:49] you will get fresh fruit from us and we Aller a grocery store that you can walk in and also buy but this will be [31:56] pre-order thank you [Applause] [32:03] thank great thank you you come right off this way if anyone is going to [32:08] Department before questions now is a good time otherwise judges if you're ready to go you're welcome to do so I'll give you [32:16] a two-minute War wait he oh here you go go on going back up sorry about that thank you for your presentation [32:23] that was really awesome question for you so um vertigal Farm requires a software system to you know [32:31] calculation of the water lights moisture and all that stuff and also um uh what [32:37] is it uh somebody who really knows planting stuff what they're doing [32:42] have you um identify all that do you know a vendor who you're going to use as [32:47] far as the Software System you're going to use for the vertical farming yes the first the the first thing I did was to [32:54] buy the indoor I'm sorry to buy uh what's it thing uh to buy a book ebook [33:02] sorry I bought a eBook and went through the ebook for the first time and I read everything and then I contacted the [33:09] supplier and the supplier and I have been talking we've been communicating you know uh he's willing to send a team [33:16] to come and set up the whole thing for me everything everything is just ready one of the a pointed Towers to get it [33:24] ready and sell up is about ,000 with just one the whole system is sell up and he's [33:30] willing to give a great discount to get as many as 40 or 50 or even 100 in K he [33:36] told me he set up in K about 100 Tower Aon towers and the 100 Aon Tow supply [33:42] the entire C to the point that they don't even make uh traditional farming animal they only [33:48] use theiron Tower to produce so everything they sell up have read everything the water quality it uses uh [33:55] 95% less water compared to uh uh traditional [34:03] farming thank you yep thank [34:09] you yeah I just had a quick question uh in terms of your Revenue projections and [34:14] profit um I saw that you're projecting a 20% um margin is that gross or [34:22] net coming when I say grow no that's net that's net that's net okay uh do you [34:28] know what the gross is uh the gross do you have the PDF for me the [34:39] PDF uh it was not here that was I sent two documents but it's fine it's fine yeah so uh that is just the the the the [34:49] the gross profit I mean yes the net profit so the gross profit is going to be around I mean uh around 25 to 30% [34:59] but I have all it breakdown in the PDF I will give you the PDF and you go through it okay I sent two docents me forget [35:06] yeah sorry so to me it appears that you or [35:15] help me understand what is the core problem you're trying to solve so like it could be you could be trying to solve like um you know food insecurity uh it [35:23] could be um Health like healthier foods um so there could be a number of things [35:28] cuz I guess maybe the core question I'm trying to ask is if you think about fresh produce yeah I would assume and [35:34] correct me if I'm wrong you can get fresh produce from Cub or Target or some other place I might be wrong about that [35:40] if you disagree that's okay um so is or so is the problem that the produce is [35:45] not good enough is it that people don't have access to it what's the core problem you're trying to say it's expensive it's expensive what again they [35:51] don't have more access to it limited asset and they are expensive and uh as I [35:57] said they are scarce so sometime people go to the grocery store to find is hard to find ours will be non Farm to Market [36:07] it's going to be Farm to Table people will pre-order so we package it R the [36:12] greenhouse ship to their houses fresh is not going through any processing and number two this no [36:20] pesticides there's no pesticide no other insect no chemicals nothing it's pure [36:25] organic because we use uh natural ionic [36:30] uh mineral nutrients to grow distance okay okay so so to me it sounds like [36:37] you're saying like the food is more fresh there's no pesticides that's kind of the valy proposition you're proposing that's one and also he eating so it's [36:44] that we're doing three things here we're providing fresh fruits fresh fruit we also uh providing HS vegetable we are [36:53] engaging in the community so our community engagement and sustainability set us [36:58] apart so we will educate the community we going to be having programs in the [37:04] community how to have to healthy eating healthier eating and then we're want to provide uh uh better quality of fruits [37:12] and vegetables and they will be available all year round including [37:20] winter um question on the volume that you can produce and uh by growing it [37:27] this way does it last longer um and will you know the customers come into your [37:34] facility and pick out what they want or [37:40] um is that you said something about pre-order yeah some people will pre-order it will be online all this [37:45] will be online so you go there and pre-order okay and we tell you when we are harvesting okay could I come in [37:50] though yeah come okay you can come here yeah there will be a Walkin once they are ready we can walk in and just we [37:57] just harvest emplo in your basket you carry home sure and does it last longer [38:02] when you grow it this way of course yes it it because it's in the tower and more sustainable yeah and as you saw in the [38:09] desert they grow in the desert you know yeah okay and less water consumption will you led LED lights very [38:18] great thank you two minutes um can you just share a little bit about your [38:23] background with farming and growing I know you said you you read a uh an ebook but have do you actually currently Farm [38:29] currently right now yes until 20 years I was living on a farm I was born a grew on the farm my father I saw my father [38:35] growing you know in agriculture you know cash crops my mother you know uh [38:41] vegetables and the whole environment engag in agriculture so my whole life is agriculture even though I went to school [38:47] I didn't said agriculture but everything gets connected because it's a grw in agriculture and then um there are some [38:55] pretty big competitors currently in Minnesota like living greens and reval greens and even bushel boys growing um [39:01] strawberries uh hydroponically um with significant capital investment from those companies so how do you uh compete [39:09] with those companies that already established and have the capital yeah the the first is that we [39:15] will be the first to establish a greenhouse environment here there's none in Minnesota we have done our research [39:22] all right uh comp competitions as I said our [39:27] Community engagement and sustainability set us apart from all our competitors and our [39:33] is f to table there is f to Market so our is that we are dealing directly with [39:40] the consumers so that's part you know and to compete with them of course [39:46] people will walk straight on a farm to us and just get their stuff you know in the middle of the [39:57] have and we have great seconds and we have great customer service we have great customer service you know through [40:03] social media you know so it's not only Minnesota people will will order [40:08] everywhere they are you go online you order we send to you so we have a great customer base we now want to with Supply [40:14] Minnesota you know but we want to start here in the community and we have already earmark you know uh our first 40 [40:22] a pointed towers and we already have uh assisted ,000 ft Warehouse all right [40:30] thanks so much y appreciate you why we wait for a n um competitor [40:37] I'm going to have a quick conference with the [40:43] judges I want to make [40:51] everybody well wasn't able to answer one you weren't able to answer one so maybe [40:56] kind of decid you [41:06] so just like go down here and then stop next that way okay minutes [41:42] okay this is our third pitch and this is [41:47] Coastal coolers uh if you want to get started while you're setting up yeah okay floor is yours got to make sure [41:54] you've got a microphone this should be ready to go thank you [42:02] much all right hello everyone my name is Stephanie I'm Ryan and um we are the [42:09] proud owners of COA coolers drinks inspired by sunsurf and Summer [42:14] non-alcoholic drinks inspired by Sun Surf and summer so though we are married now when we first started dating we [42:21] realized a couple things that we had in common the first was that we loved creating fun and unique drinks that were [42:28] flavorful um and we loved consuming them as well but we also realized that we had another thing in common and that was [42:34] that neither of a strink alcohol these two things with our um became our passion to combine them that and along [42:42] with Ryan's Coastal influence from being born and raised in Hawaii and our mutual love for the beach we Blended all that [42:49] together and we launched Coastal coolers in the summer of [42:54] 2023 so we started with handmade lemonade and limeades in over 20 flavors [42:59] and the response was overwhelming in Just 2 and 1/2 months we had made $25,000 in sales while still working [43:06] full-time jobs this success encouraged us to perfect our success encouraged us [43:11] to perfect our concept and target audience imagine a build your own burger place or a Yogurt Bar the fun lies in [43:19] creating exactly what you want that's the experience we offer with Coastal coolers but with [43:24] beverages so our menu is extend extensive offering a variety of options that allow customers to build their [43:31] perfect drink as you can see the menu guides the [43:36] customers through there Three Steps step one pick your drink step two pick your [43:42] liquid and step three pick your flavors or we have some specialty drinks on the side our drinks not only sound amazing [43:50] but taste incredible with many customers proclaiming them the best lemonade they've ever had we're also planning to [43:56] expand our by offering more options more non-alcoholic beverages [44:01] such as dirty sodas Blended drinks and [44:08] mocktails yeah and I completely forgot we started thank you all for being here for this opportunity I just realized we [44:13] didn't say that so thank you so much um sorry nerves um so okay market demand so [44:19] there is a significant market for our products so not only is the number of Americans who are preferring readymade [44:26] drinks Groll but a 2024 study revealed that 41% of Americans are actually looking to cut back on alcohol or [44:33] eliminate it entirely so additionally there's an increasing number of Americans looking to cut back or [44:40] eliminate their caffeine intake as well this is where Coastal coolers fits this Niche perfectly because we offer um our [44:47] non-alcoholic drinks that are still fun and also uh C cing conscientious options [44:52] as well so so this is a map of places right [45:00] here where we've sold this year this doesn't include Wisconsin and South Dakota that we are also serving this [45:06] year that means we have a presence and customer base in over 10 Metro cities and three states already meaning we have [45:14] data that helps us for growth and expansion already in place all right so let's talk about our [45:21] competition a little bit so our competition in the lemonade Market business um in the space is pretty [45:26] obvious right we've all seen these like lemonade trailers the lemons the big lemons out at festivals carnivals fairs [45:31] Etc um but what makes us as COA coolers set apart and different from them so [45:37] couple things is One Is our commitment to Quality uniqueness and creativity so the way that we make our lemonades which [45:44] we're going to show you here in the minute when we're done with our pitch is different from our competitors so we [45:49] handm our lemons which gives a different taste uh in customer experience for our [45:54] customers versus the traditional methods of juicing and or powder um or concentrate that our competitors and [46:01] other vendors use and our customers over and over tell us again that they prefer [46:06] um our method our taste our lemonade over our competitors and other options uh for lemonade and vendors out there on [46:12] the market okay perfect thank you um so as [46:18] far as expanding further into the non-alcoholic beverage Market um we are thinking of making our next move into [46:25] dirty sodas which are exploding around the country and the dirty soda Market is largely untapped here in Minnesota we [46:31] have places like Sonic that serve dirty sodas with success there's a dirty soda food truck up in Maple Grove serving the [46:36] northern Metro which we've actually become friends with them as well um but that's it it's very limited here and there's huge potential as far as [46:43] potential goes we see Swig as a great Market example so Swig is currently [46:48] operating in 59 locations in seven different states and as of 2023 they have signed an additional 250 franchise [46:56] options or franchise stores that they will be opening in additional 12 States this shows you that the dirty soda [47:01] Market is booming right now and we want to get and and be a part of that [47:08] Trend okay so next we have financials so we've talked about our product we've talked about our market we've talked [47:14] about our competitors let's talk about our financials So currently we sell um our lemonades and limeades fresh muddle [47:21] everything like that for $8 for a 32 oz cup this includes two flavors which [47:26] encourages and incentivizes the customer to try new things try new flavors have fun really create that unique fun and [47:32] flavorful experience that we're um hoping to motivate and search and provide um so our current price to make [47:39] the drink is currently $125 so that means our profit margin is really strong in terms of business the uh in terms of [47:47] numbers the business itself is profitable right now and our numbers are looking to nearly double over the past 2 [47:53] years if we just stick to um operating seasonally like we are right now um at [47:58] farmers markets and events and things such as that if we open a store and are able to sell a year round we look for [48:04] those numbers to at least triple over the next two years so moreover our presence at [48:10] farmers markets in events around the Metro areas help us connect with customers and drive traffic to our [48:16] future store in addition and our active social media presence with over 1,000 followers on platforms such as Tik Tok [48:23] Instagram and Facebook help us engage with new and return customers and continues to bring them out to events [48:29] across the Metro the other same customers who keep stating keep asking us if we have a store and stting they'd [48:35] be willing to drive for us for our drinks because they're that good yeah [48:40] we've heard that a lot of times which is amazing so we believe that we are the entrepreneurs for this project because [48:46] we love our we love our business and we love our product we've spent all of our time and our energy and our resources [48:52] pouring into making Coastal coolers the success that it is today so who wants to [48:57] help bring drinks that are for everyone right here to Bloomington and Beyond we can do that with your help thank you so [49:07] much thank you uh two quick questions what is a what's a dirty soda yeah [49:14] that's a great question so um it is yeah he's going to make a sample while we talk of the our lemonade strawberry [49:20] lemonade so dirty soda is um traditionally soda so um Dr Peppers Coke [49:27] Sprites orange Fanta and then you mix them with uh cream you can do like flavored cream or original cream and [49:33] then you add a fruit purees and syrups into it to make what's known as a dirty soda so it's really like that cream in [49:39] the soda that makes it dirty and then as far as sales are are concern are you looking at more on premise sales your [49:46] own retail or off- premise what the split it would be um probably a split so [49:51] we were currently selling at like markets and everything which is on premise and then we would continue with [49:57] that um we're actually looking to build like a truck um and then we'd keep the truck out and then we'd also be selling [50:03] at a store so the hope is that the truck serves as on premise sales there but it [50:09] also brings traffic back to the store but you'll have a plan to make the sure the product shelf stable with [50:15] preservatives so it does it expire um nope So currently it would be all on premise okay it's made to order like a [50:21] Caribou Coffee or something like that okay got it y thank you um why does a brick and motor store [50:27] make sense compared to continuing just your pop-up stand or even um bottling and then selling it in a retail location [50:34] that's a great question that's something we' thought a lot about as well so currently um being out at events we're very successful because a lot of our [50:41] product is great in the elements in the weather and that's why we would continue to do that however we have people asking [50:46] if we have a store because they want our product not just at the market they want it on their daily commute when they're [50:51] running errands they want to be able to access it whenever um and doing a store what allow them to do that and not only [50:58] that they would bring them to Bloomington right and then they would be able to purchase year round So currently again we're only operating seasonally [51:04] which is like late April through early October um and then after that they can't get their favorite drinks anymore [51:10] so with the brick and mortar that would address that problem thank you so um [51:16] back to the financial could you just run through that again so you you talked your numbers were seasonal yes and so [51:24] just if you would just kind of reiterate that and what the goal is if you were um [51:30] how would you increase that yeah so currently um seasonally we're looking to double our numbers and I actually have a [51:36] financial sheet that I'm going to pass out for you guys to look at um but when [51:41] yeah numbers right now seasonally were double so we're already doubled what we were last year um and we're not even all [51:48] the way through our season yet um so we're looking to continue to expand get in larger events larger markets like we [51:53] did this year and keep growing um and that's where that profit increases as we get into larger [51:59] venues and then with a store of course we would be open a lot more than just four hours at a market on a Saturday um [52:06] or you know eight hours at a market on a you know Sunday or something like that um we would be open you know 8 to 10 [52:12] hours a day every day for the year so we would expect Revenue to increase the [52:18] longer that we're open [52:25] for um my question is about seasonality yeah I'm I'm I continue to wonder how [52:33] this goes over in the winter time yep let's say five months six months out of the Year y um can you talk a little bit [52:39] about what your expectations are there um what your what your plan is in the [52:45] meantime and um whether or not you have a corollary to in the market today that [52:51] you're looking at to get some guidance on what that might you know look like yeah so um [52:57] seasonally is a great question so obviously with the cooler weather we would be introducing seasonal drinks as [53:02] well so right now we're talking about you know lemonades and sodas um sodas sell year round no matter where you're [53:07] at like if for example you go to the restaurant what do you buy you buy a soda right or a pop um even if it's [53:13] December so we anticipate that that continues so people are going to want their favorite drinks you know [53:18] especially if they're really hooked on one you know no matter the um time of year however we do expect it to slow [53:24] down a little bit in the winter just because people may we aren't necessarily thinking of the oh summer drinks that's where we're going to introduce those hot [53:30] drinks we're also hoping for our store that it's kind of like a Gathering Place like a community place so we would be [53:35] looking at hosting like Events maybe in the winter to draw people out um kind of encourage different you know try our [53:42] different drinks that are seasonal and then draw people out to the store through different events um we look at [53:48] places like ice cream shops You Know Places particularly you would think of seasonal ice cream shops continue to [53:55] successfully operate year round because people want ice cream year round and then usually with them they expand into [54:01] like um focusing on like cakes or ready made like ice cream things things that are not just needed in the summer but [54:09] the winter and we would you know kind of try to expand into different seasonality [54:14] things as well uh one one other quick question what's the what's your plan for [54:21] providing nutritional information to folks about like what cuz 32 ounces is a lot of soda [54:27] espe if they choose Sprite or something like that how are you helping them understand what the nutritional impact of this of the drink is yeah so um [54:34] currently that's not something that we've implemented however it's a great idea and as a store we would definitely like Branch into that area I also want [54:41] to mention um with the store we would not just offer the 32 ooun size we would be offering you know 16 24 32 um the [54:50] reason we offer only 32 o now is that's the standard size for lemonades um and they like the that we use that's pretty [54:57] standard and it's just easier for inventory right now to use just one size um it also helps our profit margins [55:04] because the more we can give away the more that we can make um but as far as nutritional value that's something that [55:09] we'd have to look into um you know providing that information on but we would definitely be offering like [55:15] smaller sizes for like the dirty sodas and things like that [55:26] can you help me um better visualize the store space is it going to be more like [55:31] a bubble te space where people just kind of linger in and out or is this more of like a bar space for more for uh adults [55:38] so it's to start up we are visioning more of like a bubble tea place however we'd like to make it a little bit bigger [55:44] for you know like a little bit of a sit down where people can come and gather over a fun drink right like a coffee [55:49] shop but maybe they don't want coffee maybe they want you know that non-caffeinated beverage like for me [55:55] every time a friend invites me out coffee I'm like yeah I'll go but I don't drink coffee right so it might be like a fun alternative for someone to say hey [56:01] let's go out and grab lemonade or like something like that um down the line as we talk about expanding um we'd love our [56:08] home base to expand more into like a non-alcoholic bar as well a dry bar yeah [56:13] so that's that I would say is like probably at least five years down the road big picture we would have like the [56:19] quick service and then we'd also have like a dry bar as far as franchising goes we would probably focus on the more [56:25] quick Sur Serv um in and out but also creating like a little bit of that community space as well for people to [56:31] come together we have 45 seconds left there's a quick question answer to [56:37] play thank you very much one one more did you guys say you were going to do other food stuffs too beside drinks at [56:43] this place uh just like a small menu so like cookies shortbreads um bread loaves [56:48] like little bites like that yeah great thank you so much awesome thank you guys [56:53] appreciate it [56:58] I just have sheets great we're going to get our next [57:04] contestant on boarded here and judge is any of the materials that are referenced we can also uh send tonight [57:18] tomorrow okay thank [57:24] you you guys did a great job so much appreciate that okay yep now's a good time if [57:31] you're going to go in and out why we [57:40] transitioning okay thanks very much thank [57:46] you all right our fourth contestant is dis sorry disinvested [57:53] youth gaming initiative hell Reynolds come on up [Applause] [58:02] all right it or put [58:09] it hello everybody my name is Hal Reynolds and I'm the founder and CEO of [58:14] disinvested youth gaming initiative also known as DG little easier for you and I'm pretty excited to bring this great [58:20] this uh gamebreaking Innovative yet unique opportunity to bloom inton I [58:26] think is going to really really capture the Gaming Community like never seen before with that being said let's jump [58:32] in Albert Einstein once said gaming uh games are the most uh elevated form of [58:39] Investigation who would have thought he would ever be this right and 2024 as Things become automated and our [58:45] number one export becomes technology it's so important for we make sure we have spaces for our young people to be [58:51] connected to technology and Technology jobs [58:58] oops there it goes um our mission is to have purposeful game design now we are a [59:04] for-profit but I like to say that we're are for purpose my goal is to help close these gaps to do it in a way that's fun [59:10] and exciting cultivating a center of skills we're going to have dedicated learning [59:15] spaces aside of our organization where companies can partner with us to train our young people if you have a [59:21] membership for $30 a month as a young person all learning is free for you then the last part is instilling our values [59:28] giving back is important and you'll hear more about that later here's my team and I won't drain [59:34] this slide but just know that all these folks have deep ties into Community [59:40] Technology I'll talk a little bit about myself however I think that's kind of important I have 20 plus years in retail [59:48] but in community but also working with young people and Technology I run stores for Apple Best Buy and Circuit City [59:54] nothing gave me more joy than and watching young people grow and Thrive and then advocating for them with [59:59] disinvested youth I'll be doing more of that right before leaving Best Buy retail I was able to join the team tech [1:00:05] centers as a director and be inside of disinvested communities inside of their team tech centers which are $5,000 or uh [1:00:12] setups that bring technology is like a playground for kids but for older kids [1:00:17] but more importantly they have Pathways to careers I figured how do we do this in a different way that invites [1:00:23] everybody to the table these are my amazing advisors and one [1:00:28] thing I want to call out from a traction standpoint is DG's only been alive and going for three and a half months and [1:00:34] already we have an amazing board folks that are deep in technology joelberg CEO of data stream which is uh affordable uh [1:00:42] internet for everyone all those folks are chosen with minds of uh technology Steve beanan works for Microsoft and [1:00:49] he's in the center of everything technology these are some of our [1:00:54] partners that we've already C Ed with one is missing that I want to call out which is skill quest which does something very unique skill Quest allows [1:01:01] young people to build a uh a bot in Python and then that bot runs the game [1:01:06] tournament for them in Riot it's a great way to gamify education and now your [1:01:11] player is actually technology it's not the young person and they're certified in Python by the end of [1:01:18] it so we'll jump into it when we built DG these were the pillars that we focused on we wanted to close the [1:01:25] digital divide we wanted to drive Public Safety anybody hear about the Kia cars that were disappearing last year those were young [1:01:31] people that are very smart they were able to use Tik Tock to steal cars those young people are brilliant now imagine [1:01:38] if they had a different Outlet to do something positive that's what DJ is going to do mental health covid [1:01:45] destroyed our young people and it also put them behind it also had a huge impact on companies that want to hire for technology DG is going to help close [1:01:52] that Gap give companies a unique space to engage with young people and build off authentic relationships and then the [1:01:57] last piece is job placement which I just talked about what we know is this companies cannot hold on to young people [1:02:04] and the reason why is because tuition cost is crushing them when you can certify them in high school before they [1:02:09] go to college get them a job making 0 Grand and then they can choose if they want to go to college or [1:02:15] not all right so with this slide I want to be very clear no one does what DG does so when I looked around at our [1:02:22] competition it was very difficult most of these organizations do Sports we will do Esports but we'll do much more none [1:02:29] of them do training or technology the way we do however what I will share is the one that was closest to us was [1:02:35] wisdom gaming who I work for in in Bloomington unfortunately this closed their doors and the good news is this a [1:02:41] good time for us to replace that organization with another company that does that but does it [1:02:47] differently so this is the slide I want to spend the most time with I talk about our strategy and how we bring money to [1:02:52] the table first is membership if you're under 18 is $30 a month that gives you [1:02:58] access to all learning uh uh learning and training for free with all of our [1:03:03] companies if you're over uh1 18 it's $100 and you get access to 50% of our [1:03:08] training content and then you pay for the other but you do it at a reduced [1:03:14] cost the second piece is uh tournaments allowing that space to be used for [1:03:19] gaming tournament where if you're a member again you can have a reduced price to be inire but also we allow uh [1:03:25] companies to sponsor these tournaments uh but it allows all the Gaming Community to come in and to be able to [1:03:31] be connected um the one thing that I want to really call out about our tournaments that's uniquely different is [1:03:37] we'll have a lot of Technology that's geared around uh learning if you will so [1:03:43] uh example flight simulators uh car simulators VR our goal is to make sure [1:03:48] that learning is fun but also to bring in other partners like a bar and grill so that older folks can stick around [1:03:54] have fun use a golf simulator really be engaged with technology but say hey there's a classroom over there and they're training I wonder if it's time [1:04:00] for me to be recertified as well and look for a new career then the last piece I kind of [1:04:05] screwed up I apologize is Workforce Development which I talked about earlier again I think companies have been [1:04:11] looking for a tech Hub that makes sense somewhere where people there on a regular basis if you think about a Dave [1:04:17] and Busters it's so expensive to go there you may only go once a year but a membership we think that our clients [1:04:22] will be there on a regular basis using their membership because they get access all day long but we also thought about [1:04:28] those visitors and we also offer day passes for those folks as well and those come in family size uh uh individuals [1:04:35] over 18 and then those under so if you're under 18 is 10 bucks if you're over 18 it's 25 bucks for the day and if [1:04:41] it's a family pass it's um $60 for up to four kids and two parents and that's the [1:04:47] same thing for our our monthly uh uh memberships as well we do have a family pass as well for 200 bucks which [1:04:53] includes four kids and two parents [1:04:58] the way we bring this to to Life Is by being very thoughtful of how all this works um what what we learned about [1:05:06] gaming is um The Gaming Community wants to be engaged in an authentic way um and [1:05:11] there's not a lot of trust they also want work life balance and so our goal is to really have wraparound Services as [1:05:17] our young people um get into these spaces and really kind of filter what tech companies can come in what they're [1:05:22] going to teach and how those relationships look as well as having network advice events as well the other part is educational [1:05:29] principles and infusion um we understand that education now is about being learning agile we understand that it [1:05:35] constantly is changing and we want to really encourage people to get outside of their comfort zones but we wanted to be convenient and right there for them [1:05:41] we think more people learn when it's right right there and available they can learn and then have fun later on then [1:05:47] the last one is youth engagement uh strategies I already shared already about uh skill Quest and how we thought [1:05:52] about gamifying some of these different pieces but we also want to allow kids to um build solutions for other kids that [1:05:59] are missing out so building games and things of that nature through our programs our app is how you will access [1:06:06] everything that allow us to Market to you work with you send you promotions but more importantly kind of look at how [1:06:13] you're engaging throughout our space we want to make sure that with the app even if you're doing it for one day we can [1:06:18] continue to stay engag send you different promotions it's also incentivized as well um some people do [1:06:24] different things we we want to do is really give you cyber cash so you can get discounts on food discounts on merch [1:06:31] but also discounts on classes that are not free thank you all right it's time for questions [1:06:38] judges when you're [Applause] [1:06:48] ready it's me well it's been happening the whole time here we go [1:06:56] all right uh just two quick questions real quick uh one is how did you come up with help me understand why it's named [1:07:02] disinvested youth I think I mentioned this last time like um like you know how how you came up with that name and then [1:07:08] is are the classes available only to members or can someone who has a day pass also attend the classes or whatever [1:07:14] so disinvested youth um was chosen purposely not to say people of color this Gap is big and anyone in rural [1:07:21] communities anybody that's indigenous I want all of our young people to really have access to this and so when I built [1:07:26] it the original concept was to have these modular pods that went out to disinvested communities that they can [1:07:31] rent and lease which you'll see in your handouts uh and that'll be phase two now um but that's why we did it we really [1:07:38] wanted to close this digital Gap Minnesota is way behind in computer science we're last in the nation um and [1:07:45] so this is built very much to address the legislation that was built in 2023 but we also understand that learning [1:07:52] computer science is boring and so how do we do this with kids engage we have 20% access right now through our schools but [1:07:58] only 8% enrollment and so um that's why we we we did this concept and initially [1:08:03] it was supposed to be a modular concept that we'll do later on that answer both questions [1:08:11] yeah are the classes available only to members or you know that's a great question well the free classes would be [1:08:18] um so free classes are free for anybody um the the goal is to incentivize you to download the app so you can see all the [1:08:25] class classes that are available for you so that our partners that come in to do this work are getting the most bang of [1:08:31] of their buck and seeing enough bodies so they can recruit and work with people that are in the tech [1:08:37] spaces um have you uh it it you looks like you have an an investor concept [1:08:43] already flush through have you raised money already um I've started to yes we've raised 50,000 so far okay um and [1:08:50] um in I believe we asked this question the first time you were here and I apologize if I for forgotten the answer [1:08:56] to yours um but uh the numbers that you have here imply that you need north of a [1:09:02] million dollars in capital in the first year or two the question I would ask then is what is the 100,000 your [1:09:08] shooting for here going to help you accelerate it's a great question uh the 100,000 is seed money um that concept [1:09:14] that you see for that big investment of 750,000 is for us to also have the modular units to set up 10 um uh be able [1:09:22] to do tournaments with 10 disinvested communities that will be can be high schools or uh private public entities [1:09:28] like boys and girls club or parks and recx and so that big number you see is not just for opening uh the the center [1:09:36] what we need for technology to open the center is about 125,000 and that would give us 55 different options everything [1:09:42] from VR to um all the simulators I mentioned earlier racing flight as well [1:09:47] as 25 gaming machines that are highend yep [1:09:56] so the facility or uh would be about 25 machines then is there a time limit if [1:10:03] I'm if I'm have a membership and I come in I noticed your hours are you know [1:10:08] kind of targeting after school can I sit there for four hours or three or how how [1:10:13] would you absolutely so um what would you how would you handle if it a lot of [1:10:19] people that would want to come in um do you do you see that in in the mix of it [1:10:26] like is it yeah the the best visual I could give you is like a Dave and Busters um now they run out and ours [1:10:32] once you have the membership it doesn't our hope is that when it's hard to get [1:10:38] on a machine because that happens even at like a lifetime that they'll be engaging in these classrooms because [1:10:45] ultimately under the fund we do want to engage young people that get free access to go through some of these classes that [1:10:51] they have access to and some of the games will be focused on adults like a golf simulator right I don't see a lot [1:10:57] of young people doing that not saying they won't um but some of it'll be more geared towards those that are drinking [1:11:03] having fun and just want to play uh a few games while they're waiting it also allows us to do uh unique tournaments [1:11:09] with our partner that we would bring in that would bring in food so that they can do a a tournament for golf for their [1:11:14] for their for their folks and then they would pay us to have access and we would rope off that space for [1:11:20] them um so it you've got a lot of great plans mhm so there's a lot of things [1:11:26] that you want to do from education to the gaming to the uh modules that can go out how do you prevent yourself from [1:11:32] getting Sid sidetracked from your your core purpose and what you're trying to do that's a great question um the app [1:11:39] will collect all of our data and so we will know if we're moving the needle and we'll also know from our vendors if [1:11:45] they're seeing the numbers that we've promised for them to come in and do these trainings um I think ultimately right now and I this sounds really bad [1:11:52] so bear with me Minnesota's dead last and computer science I believe I can certify more people on computer science [1:11:58] having fun than the Minnesota schools can and that's how I will look if we're making movement the way I want us [1:12:03] to from a marketing perspective how do you capture the the imagination and the interest of the youth so the kids and [1:12:10] the key is how do you how do you get in front of them and show a different way yeah so uh they'll have a different [1:12:16] portal of their young person they will build an avatar and anybody they engage with including companies that want to [1:12:21] hire them will all be adverti to take out the intimidation and then their portfolio will be built for them so [1:12:27] everything they accomplish will show up so they don't have to remember their accomplishments but even two steps before that how do you how do you create [1:12:34] awareness with these with these people with your perspective yeah your to get them in yeah yep I I mean the good news [1:12:40] is The Gaming Community is huge um I would use the vehicles that are there right now um I'm losing the name but [1:12:46] there's the big one that drives the Gaming Community Pokemon go is um like huge in the M of America um when I [1:12:53] worked for wisdom gaming we were able to really get a lot of gamers in bringing the community in for free different [1:12:58] options we would do the similar thing again for kids um especially that live in Bloomington this will be inexpensive [1:13:04] phase two will be deploying technology so that name will be known in these disinvested communities and that way we [1:13:10] can reach all of our kids um but the good news is when it comes to gaming you don't have to force a kid to do it [1:13:15] especially for inexpensive pricing we have a minute and 30 seconds left if there's another [1:13:23] question okay okay thank you so [1:13:34] much okay this is um Pitch number five it is before our break we'll let our [1:13:40] move our audience move around just a little [1:13:47] bit great [1:13:55] okay pitch number five indoor dog Fitness whenever you're ready Grant [1:14:27] hi I'm Grant Anderson and thank you for considering my business idea indoor dog Fitness I want to have the option to [1:14:33] take my dog for a walk uh inside because too often taking a walk outside is not pleasant or [1:14:40] safe a quick background on myself I was born and raised in Minnesota um I've learned about business from Northwestern [1:14:46] University um in Evon Illinois as well as Enterprise renar uh from their Management training program the [1:14:53] Timberwolves and lyns where I was involved with creating an environment in the arena that was fond and entertaining for the fans Our Lady of Grace school [1:14:59] and church in Idina where I was involved with marketing Communications I'm currently the membership and marketing [1:15:04] director for a golf club in the area and I've also have learned business lessons from my dad who ran uh restaurants over [1:15:11] the course of his career uh I'm currently married and I have two young kids ages four and two and I have a dog [1:15:18] named Rusty he's a boxer and blue healer mix and a fun fact about our family is [1:15:24] uh like our dog all of us can get out of sorts if we don't get enough [1:15:30] exercise um this is a former family dog of ours his name was Toby he was quite the character he was a beagle this would [1:15:37] be his response when we asked him if he'd like to take a walk in poor weather um as you can see he's not a fan and um [1:15:43] I'm sure other dogs Shar the same feelings as Toby [1:15:49] did um so the challenge I've dealt with the unsafe unpleasant experience of [1:15:54] walking her dogs for many Minnesota winters my least favorite part is the ice slippery streets sidewalks dog parks [1:16:01] I'm not a fan as you can see there's a number of times throughout the year um that it's [1:16:07] difficult at least in my opinion to walk your dog outside not just the winter but um other times throughout the [1:16:15] year so with these challenges there's of course consequences research says that dogs need a bare minimum of 30 minutes [1:16:22] of daily exercise keep in mind this could vary based on the breed of dog age medical condition Etc but most dogs need [1:16:29] at least 20 to 30 minutes of vigorous exercise daily inadequate exercise can [1:16:35] lead to serious health problems as well as um High veterinarian bills um [1:16:40] according to the Morris animal foundation 56% of dogs are overweight or obese also dogster and found animals [1:16:47] reports that dog ancestors sometimes traveled over a 100 miles a day in search of food furthermore dogster ALS [1:16:54] Al reports that a top reason that people get rid of their pets is behavioral issues like excessive chewing digging [1:17:01] jumping barking and general Disobedience and many of these issues would likely go away if they kept their dogs mentally or [1:17:08] physically stimulated so dogs need [1:17:14] exercise so my proposed solution is indoor dog Fitness which would Prov provide a facility for dogs and their [1:17:20] owners to get required exercise in a safe and controlled environment so many dog owners right now are probably [1:17:26] thinking why doesn't this exist already now I want you to picture a large indoor space about the size of a hockey rink [1:17:33] but don't worry there wouldn't be any ice on the outside portion there could be a track like space where the dog [1:17:38] owners and the dogs um could walk or run together and then there could also be separate spaces um where the dogs could [1:17:45] exercise on their own so there could be um a space for smaller dogs another space for larger dogs another space for [1:17:51] older dogs um and that would be designed that way for safety reason there also could be um like an obstacle [1:17:57] course as well as kind of a basic retail space this would be the initial phase of the [1:18:07] business so now we know why there's a need for the business the consequences of the current void in the marketplace [1:18:13] and the solution now here's the business case the pet industry is large and it's growing people are passionate about [1:18:19] their dogs as um Forbes has reported in 2022 Americans spent $13 7 billion on [1:18:25] their pets up 11% from the previous year furthermore between 2018 and 2022 the [1:18:31] amount spent on pets in the US increased by 51% from 90 billion to 136 [1:18:38] billion also dogs by far are the most popular pet 2third of American households own pets and 2third of those [1:18:45] pet owners own dogs according to Capital 1 Research furthermore Basic dog expenses average about 1,500 a year and [1:18:53] keep in mind that the average Midwest Western household spends 10% more on pets than the US household average [1:18:59] according to Capital One there's also lots of potential customers um stats [1:19:04] show that approximately 35% of Minnesota households own a dog and so with that [1:19:09] stat I'm estimating there's 13,000 dogs in Bloomington um I believe indoor dog Fitness would serve a need within the [1:19:16] community serve a wide demographic and diverse population and pull customers in from not just Bloomington but other [1:19:22] areas as well [1:19:28] um a quick look at business fundamentals um initially I was thinking the break even would be about 650,000 when I was [1:19:35] making this slide my um now I'm thinking it's about 800,000 800,000 annually for [1:19:41] the break even financing would include SBA loan outside investor or investors as well as the prize money from this [1:19:47] contest from an operation standpoint I envisioned being open about SE uh seven days a week excluding major holidays um [1:19:54] hours are to be determined but I would want it to be open many hours of the day to make it as convenient as possible for customers Staffing would be based on [1:20:01] volume demand and level of services offered as a business [1:20:08] grows using the B most basic um framework of marketing the four Ps the product is an inor exercise space with [1:20:15] ability to add more services as the business grows um it would like in terms of the place would likely lease and [1:20:21] convert an existing warehouse space um indoor dog Fitness would be a destination location meaning that people [1:20:28] would plan to go there you don't have to place the business right off a freeway and hope that drivers react to see your [1:20:33] business there and deciding to stop in like fast food um the price there' be yearly monthly or daily rates and [1:20:39] promotion it be a multi-channel approach including social media and direct mail [1:20:44] um probably not radio or TV since there's only one location um also the business name articulates what the [1:20:50] business offers which I believe would help with marketing [1:20:57] all right um quick review of my SWAT analysis strengths it's a unique concept [1:21:02] minimal if any direct competition exists for this concept it's servicing not creating the need for this business [1:21:08] meaning I'm not inventing a new product that doesn't have a demand already there already is a um a need for this business [1:21:14] in society there's already a demand I think that's a huge strength um it's also the pet industry [1:21:20] is also shown to be Recession Proof um so which means it tends not to [1:21:26] be a discretionary expenditure in fact 91% of dog owners consider their dogs to be family members according to World [1:21:32] metrics weakness is the Assumption of sufficient number of users to sustain the business since it's a new business [1:21:38] concept um opportunities people are passionate with their dogs in the size and growth of the industry um this idea [1:21:44] is not as high risk in an industry as high risk as others for new business failures um and threats introduction of [1:21:50] new competitors every business faces that but um I'm determined to have the best product in the space and the best [1:21:56] value for the experience um which isn't doesn't mean low price it just means price divided by what you get [1:22:06] um and then in the long term um gradually additional offerings could be added um I would only do this after I've [1:22:13] built a um first successful business in Bloomington um and then additional offerings could be added down the road [1:22:19] so thank you for your consideration um and um [1:22:25] as you're thinking about who to vote for just picture how people can um walk their dogs now in poor weather um with [1:22:31] indoor dog Fitness there would be an option thank you thank you thank [1:22:39] you wh why do you think there's not a competitive landscape that's fully developed right [1:22:45] now great question and um I have done some research on [1:22:50] that bear with me as I get to through slides here [1:22:58] sorry struggling with the clicker a little bit if I can go for for yeah there's one [1:23:06] this competitors perfect right there so the following slides there's a list [1:23:13] of some examples of competition in the area um keep in mind this is not meant to be a complete representation of these [1:23:19] businesses it just give a snapshot you go to the next slide um you'll notice [1:23:25] what I've noticed is that there seems to be a common theme Here is a there's a lot of um Dog Daycare dog boarding and [1:23:31] dog grooming offerings um you can go to the next slide as well please um so there are pet [1:23:38] Concepts out there like dog boarding Dog Daycare grooming indoor dog park type places where the dogs can run around but [1:23:43] I don't see offerings where you can take your dog for a walk inside Explore Minnesota reports that our state is home [1:23:49] to businesses that combine dog owner activities with dogs such as indoor dog park and bar restaurant combos or dog [1:23:56] friendly indoor swimming pools which shows the growing Market of the pet industry but again I don't see offerings [1:24:02] where you can take your dog for a walk inside you'll notice um I think the second last example on that slide wag [1:24:08] and wolfs um they have the cool concept of a dog treadmill um but it is a different idea though than being able to [1:24:14] walk your dog inside on like a track like surface another huge positive to consider about this business is there [1:24:20] likely wouldn't be online competitors you can hire someone to walk your dog for you but the experience of [1:24:26] walking your own dog uh isn't probably something you can do online or buy from an online store I think this is a [1:24:33] compelling way that indoor dog Fitness has separated itself from the other finalists thank you um thank you for [1:24:40] doing that SWAT I love swats yeah and part of it is that I always find um it [1:24:46] opens up new ideas and gives you insights into what you're trying to do can you share if there were any um any [1:24:54] insight that you got out of it whether it was to stop doing things or to that changed your um original presentation [1:25:01] when you came uh to us the first time oh great question I would say that it I think it [1:25:07] really opened my eyes probably to the obvious problem when you're trying to maybe come up with a new business [1:25:13] concept which was the you know the glaring weakness of how what's your projected number of users to come in and [1:25:20] use this business I think new business owners have to try to Grapple with that [1:25:25] projection because that can make a break really if your business is successful so I've um I've done a lot of math on that [1:25:33] um and I can here it kind of led me into [1:25:39] um uh go backward go back one more actually right [1:25:46] there perfect so um so to in order to combat [1:25:52] that issue of trying to project how many people will use it I tried to come up with annual revenue projected so 35% of [1:26:01] Minnesota households own a dog according to policy and Capital One Shopping also according to dogster 60% of dog owners [1:26:07] regularly walk their dogs it could actually be as high as 70% I used 60% for this so based on those stats I was [1:26:15] able to determine that about 275,000 dog owners in the Twin Cities regularly walk their dog now in [1:26:22] Bloomington and the bordering town there's about 32,000 dog owners who regularly walk their dog so I just took [1:26:28] the nice round number of 5% usage based on my math I'm estimating 890,000 in [1:26:34] sales annually not including ancillary offerings um you know earlier I said I [1:26:40] estimating the break even is about 800,000 so that gives the rough idea of if we had 5% usage of dog owners who [1:26:47] regularly walk their dog in Bloomington as well as those um surrounding towns of Bloomington that you know that touch [1:26:53] Bloomington that would allow us to break even so but I think on top of that what's interesting is that Forbes [1:26:59] reports that gen Z pet owners which is ages 18 to 25 are the most likely to [1:27:04] spend money on dog walking services with 31% responding they are likely to do so [1:27:10] so when you look at the 5% usage there I think it could actually be a lot higher [1:27:15] with the right plan um and also just to expand a little [1:27:21] bit um dogster and pet pedia report that forecasts predict the Global Pet Market [1:27:26] will reach 358 billion by 2027 which is up from 261 billion 2021 also the [1:27:33] average pet owner spent $2,000 on their pets in 2023 according to Capital 1 so I [1:27:39] think there's just tremendous opportunity in this business um to further build on that I [1:27:45] think there's just very broad appeal um I'm estimating there's about 450,000 [1:27:51] dogs in the Twin Cities based on number of households and using 35% of those owning a dog um [1:27:59] so from there um I was able to see that there's about that goes over the earlier math I went over but [1:28:06] um sorry I was looking at my nose um so I think this I think you could also could possibly reach dog owners who [1:28:12] don't regularly walk their dogs as well I think with the right plan you could try to even expand um potential [1:28:18] customers there as well um also dogster reports that in 2020 the dog walking [1:28:24] service industry reached almost 980 million in revenue and jumped to 1.3 billion in 2023 it's a fast growing [1:28:31] market and 78% of people said that dogs deserve to be walked twice a day so I [1:28:37] think this shows that dog owners see the value of getting their dogs walked also judges oh sorry judges we have two [1:28:43] minutes is there question thank you go ahead sorry hi that's okay um thanks for [1:28:48] the data um I have a question about liability um so a lot of dog parks um [1:28:54] where you take your dogs today have the a similar concept right in the sense that for free I whether or not [1:29:00] permitting of course uh I can walk my dog or I can take them to a park where they can interact with other dogs um [1:29:05] when you're hosting a business you're taking on a liability that a lot of people isue in in um when they take [1:29:14] their dogs right it's like my word against your word about who started the fight y um what what do you have in terms of plans and what is the [1:29:21] expectation that you have for dealing with that problem thank you for the question um so [1:29:27] regarding safety it's kind of I'll try to answer in regards to the concept of [1:29:32] safety um so I've tried to break this down um in my research into three [1:29:38] different um areas so safety for staff safety for owners safety for dogs for [1:29:44] regarding um safety for dogs I I would want to have them make sure that they're all leashed when they're entering and [1:29:50] exiting the building because I think that could be a common area where there could be issues there I also would want to make sure there's a surface with good [1:29:56] traction inside um to prevent just slippage or um any accidents there [1:30:02] vaccinations would be required for the dogs um and um there as I mentioned [1:30:07] before there' be separate spaces for large smaller older dogs um perhaps other separate spaces as well yeah let [1:30:12] me let me just um no in the interest of time I'll cut to the chase here um I'm not really I I think you probably have [1:30:18] that all sorted out you seem like that kind of detailed oriented person um if my if I come to you and or I come to [1:30:24] somebody that works for your company and I say that that dog bit my dog now you're in the middle of a different kind [1:30:30] of liability problem oh I understand that's the thing I'm asking you about so if you have if you thought about it [1:30:35] great if not that's okay too the other question I have is um have you asked [1:30:40] actually asked people if they would use this because you have a lot of data coming from other places but it doesn't it doesn't seem that you've asked like [1:30:47] you've done any surveys of the 472,000 people or whatever it is that that live [1:30:52] here um about whether or not they would use your product and whether or not they would pay for it and and whether your price point has is a is a small enough [1:31:00] barrier that free versus yours yeah I'll go to yours depending on in Clement weather or whatever can you describe a [1:31:07] little bit about what you've done to get customer engagement and understanding about like your product Market fit from [1:31:12] actual people with dogs that live here yeah we're going to need your answer to be very brief we're over our time stamp [1:31:18] sounds good I think it's a great question um regarding the liability aspect I haven't done a lot of deep thinking on that that's something I can [1:31:24] make a note of the think about great question on the um [1:31:29] um um oh Ju Just local market research um I have not done a personal survey I [1:31:34] think that's a great Point um in my own personal experience with having three dogs I I the the idea came to me just [1:31:41] from my own personal experience of wishing I could do it inside somewhere in the area um I think there is a a need [1:31:47] not just here but in other markets I mean I think you could use this in different climates as well I think the growth potential is is huge um but I [1:31:56] have not personally um done like a survey in the area or anything like that I think that is definitely a next step I [1:32:01] could um consider just one quick one what is the uh membership price for [1:32:07] instance a month or yeah dat great question I don't have the exact pricing [1:32:12] determined for yearly and monthly I'm still working through different scenarios there um you know based on [1:32:19] projections of what I would need to break even and whatnot but for the daily pass for example just for a touch point [1:32:24] I'm imag I would want to keep it under 10 bucks a day so perhaps eight or n bucks is something I've been penciling [1:32:30] down and then from there the monthly and annual rates would be discounted you know based on the daily rate um so that [1:32:38] that's where I'm at right now with pricing thank you so much thank you all right we are going to take a [1:32:45] 10-minute break and then we will be back for the next five judges there's some [1:32:50] refreshments for you this way [1:33:22] yeah [1:33:52] e [1:34:22] e [1:34:52] e [1:35:22] e [1:35:52] e [1:36:22] e [1:36:52] e [1:37:22] e [1:37:52] e [1:38:22] e [1:38:52] e [1:39:22] e [1:39:52] e [1:40:22] e e [1:41:22] it's [1:41:45] okay welcome back folks we are moving on to the second half of the hatch [1:41:50] Bloomington pitch competition be hearing from uh five more entrepreneurs as they present their ideas to our panel um as a [1:41:57] reminder uh Community voting is open you'll see a QR code that you can uh [1:42:03] place your vote but as a reminder you only can vote once from one device so our advice is to wait till you hear all [1:42:10] top 10 pitches all right and with that um we will move on to our sixth [1:42:17] presenter calonia ready yep okay thank you y'all can hear me yes okay I usually [1:42:24] have a coach's voice um but thank you guys for having me here um growing up I fell in love with the game of basketball [1:42:31] um my parents immigrated from Somalia and told me we came to America for you to get an education not to pass a ball [1:42:37] around um but just like any other teenager I ignored what they said and I played basketball um it's funny how I [1:42:44] kind of got recruited playing basketball I went to a small not a small school but a small town but now it's not a small [1:42:50] town anymore so that small town field with me and my sisters being the only black Muslim girls at the school um I [1:42:57] was walking down the hallway and everyone is everyone's Uncle father brother and sister and as I was walking [1:43:03] a coach came up to me and was like hey you're really tall you should play basketball and then I realized that was [1:43:09] my friend's Uncle so I had made that opportunity to play basketball with my friends and to continue um just doing [1:43:17] something that I love but then I realized that playing the sports was the easy part continuing the playing the the [1:43:23] sport was the hardest I couldn't find clothing that aligned with my values of modesty that allowed my hijab to stay [1:43:28] while I'm playing and this became really frustrating and I felt like I was devaluing myself just to play the game [1:43:35] hi my name is Mona Muhammad I am the CEO and founder of [1:43:41] Kone thank you um so before we get to the other solution of my business I [1:43:47] wanted to tell you in the beginning my mission was to create active Weare um in our community we found 96.1% of black [1:43:54] Muslim girls were inactive clothing was reported as the number one barrier followed by the lack of female only [1:44:00] gemms so to address this issue I went and worked with the community to design [1:44:05] active wear that are from sports hijabs that stay in place if you don't know the hijab is the head covering that Muslim [1:44:12] woman wear active wear tops um and if you're wondering what makes our active wear tops different from everyone else [1:44:18] if you ever shopped at the woman's section you'll see that dresses are either slit from the side slip from the [1:44:24] cut from the front no arms tights Sports brows and not everyone wants that so I [1:44:29] wanted to create more modest active word not only for a Muslim woman but for any woman looking for that modest fit um I [1:44:35] was able to successfully create that and made the commitment to build confidence [1:44:40] strength sense of belonging while embracing the authentic self um my [1:44:46] community is a part of what I do and I'm always listening on what they want next and did y'all hear about G [1:44:56] ation no right did yall know 65% of women avoid the gym due to fear or [1:45:02] judgment um I realize that Muslim women are not the only ones who are lacking resources to Fitness and barriers there [1:45:08] are other womens just like you who may fear the gy because someone next to them is fit and you may feel like oh I don't [1:45:15] look the part therefore I'm not going to go to the gym or commitments to time or Fitness knowledge what is a barbell much [1:45:23] weight am I supposed to put on there's all these barriers that prevent a lot of women from hitting the gym and my goal [1:45:28] is to create an inclusive sanction that builds um that's built around women wom [1:45:35] health and wellness and to bring that to the heart of Bloomington in my business we will be able to create a space [1:45:43] that next a space that you're able to walk in [1:45:49] um and have an open space for individual and class individual workout and group [1:45:54] workout um I want to bring some barbells some weights and to be able to teach folks about the right techniques the [1:46:01] right um way to be fit um I want to be able to create the Train the Train the trainer model where people can actually [1:46:07] come in take classes on how to better themselves how to train and be able to go back into your own communities and do [1:46:14] the same for the women and girls in your life I want to also I'm a coffee addict hopefully some of you are in here too um [1:46:21] I know coffee and Fitness should not go together but I want to be able to create a space where um locally sourced juice [1:46:28] bar where we have coffee and Juice um that is locally sourced um and be able [1:46:34] to sell at the place and also to be able to have an area where people can shop latest collections of my active [1:46:41] Weare if you were wondering about the active Weare industry um the modest fashion Global is at 375 billion by [1:46:50] 2025 similar the women's global wom's active Weare Market is expected to hit [1:46:55] 42.2 billion by 2032 and similar if you're wondering about the US fitness [1:47:01] health club is expected to hit 31.2 billion and if you're wondering about Tik Tok women only only gyms are [1:47:08] trending at 48.7 million [1:47:14] views um if you are wondering about the competitive landscape a lot of the competitors that I have indirectly for [1:47:21] the modest active Weare are international Brands um I was the first one in the US here in Minnesota to bring [1:47:28] modest active wear um and sports hijabs and was lucky enough to partner up with REI to distribute those products um if [1:47:36] you're looking at Bloomington and the gym space you have our typical lifetime yes I was a member I cancelled it's [1:47:43] expensive Planet Fitness um and Anytime Fitness but what's different from Kone [1:47:49] house is that we are focused and centralized on women's health and Wom 's Health needs and want to be able to [1:47:54] create those programs around that and I like to say NBA no boys allowed um so my [1:48:01] customers that I'm looking for is females ages 14 and up the reason why I said 14 is I want to be able to create [1:48:08] programming about pre-adolescent health um I think at that age 14 is the highest [1:48:14] highest dropout rate of sports so a lot of girls start dropping off at 14 I want to create programs around NAB teaching [1:48:20] them about self-esteem about and starting that action at an early age and anyone else looking to just be in an [1:48:27] allom gym space the way I'm going to connect with folks is through online um and social media and [1:48:37] events um I have sold over 3500 units um and through this I made over [1:48:43] 175,000 um and I was able to create customer brand awareness and connection so starting off with our house we are [1:48:50] able to have a lots of customers come in um so this is part of my growth stage [1:48:58] I was able to create my active Weare and now I want to be able to create this Kone house to be able to grow my brand [1:49:04] and hopefully one day become a franchise across the state of Minnesota and hopefully [1:49:09] nationally my goal is my Revenue stream is through active wear memberships our [1:49:15] juice bar and then also Community programs my goal is to make 30,000 um [1:49:22] for my first year monthly with the goal of making um half a Mill by third year I [1:49:28] want to be able to increase 133% each year um with the hopes to becoming a successful franchise again my name is [1:49:35] MAA Muhammad I'm the CEO and founder of Kon I went to UFM with studying masters of sports psych um with the emphasis and [1:49:42] behavioral aspects of um physical activity I worked for the Minnesota timbes and links through Corporate [1:49:48] social responsibility and been amazing programs through T Tory Burch and Target [1:49:55] incubator I made amazing Partnerships with not only REI but also programs like [1:50:00] Girls on the Run in which we distributed over 2,000 Sports H jobs and now I need you guys to become my partners and help [1:50:07] me spread the gift of confidence thank [1:50:13] you great judges when you're [Applause] ready hey so um I'd love to just hear [1:50:20] more about um the progress that your brand like your clothing brand like uh tell me about the progress like from [1:50:26] where you started how it's gone so far and how this having a a specific place [1:50:31] will help take your brand to the next level um thank you great question so um [1:50:37] a lot of the backstory I would have told the backstory but it would take a very long time for the story I went to um an [1:50:43] osberg Alum um over there I studied exercise science as well I was a bio [1:50:48] major but basketball took me in other avenues um and decided to um become part [1:50:54] of research a lot of research doesn't include community and I'm a big advocate for Community Based research where we [1:51:01] actually work with the community and not for the community um so we worked with 25 young amazing girls that I coached [1:51:08] for over 10 years I know I don't look like it but I coached started coaching at the age of 15 and we designed sports [1:51:15] uniforms and active where not once what I thought I would be in this position today running a business um the girls [1:51:21] were my inspiration and then we saw it take off in the community and then a lot of womens were like hey we want it too um and then we [1:51:28] did a second project with mothers and their daughters and then that was successful and then I entered the [1:51:34] Minnesota cup competition I did not know nothing about pitching or business or [1:51:39] what a profit loss sheet is um but through just experience and learning and talking to mentors I built my business [1:51:46] koni which means confidence in Somali um and since then I've been working alongside the community [1:51:53] with the development of our products um going out doing popup shops flying over to New York and just putting myself [1:51:59] everywhere that I can regardless of who's there even I went to Denmark Colorado I don't know why I was there [1:52:05] but I did a popup shop there um and found it successful and what's really unique is that my intentions was to [1:52:12] create an active we for Muslim woman but I get an influx of emails of a lot of woman saying I remember this one email [1:52:18] it was like a 60y old 68-y old woman said I love to travel I'm not Muslim but about your stuff from REI um and I love [1:52:26] it for traveling and I love it for hiking and I feel more covered um there was another woman who said I have a skin [1:52:32] disease I like to use it and protect my skin so I just grew from being something for my community to something [1:52:41] bigger I have a follow-up question that right in that same line um I'm curious about um specifically how the money that [1:52:49] you would get from this program would um en aable you to Target Market um some of [1:52:57] the the audiences you just mentioned who might not find you by channels that [1:53:02] would be common to you if you were mostly focused on communicating with your community um I'm curious about that [1:53:09] and and whether or not any of the dollars that that are using this are are going to expand that Focus for you um [1:53:15] definitely um a portion of the focus is creating a space that's open to everyone [1:53:22] um and I that would drive all walks of life into the gym space um and secondly I'm hoping to use creative content [1:53:28] marketing to be able to hire local um this this I forgot the name of the group [1:53:34] but there's a group of young kids that create production um wanted to be able to I'm very big on community so any [1:53:41] dollar signs I see I like to figure out how it can bring it back into the community so using local production to [1:53:46] create creative content marketing WhatsApp groups I'll go to Lifetime Fitness and get my my me membership [1:53:53] again to drag people but just bringing our more creative ways um and using a portion of that for pre-launching and [1:54:00] content marketing okay great a quick followup are you are the products UV [1:54:05] protected yes they are and they're we have one that's UV protective and there's actually unisex long sleeve [1:54:12] shirts that I sell um I get a lot of men asking how can we support and I'm like you can buy these and feel protected too [1:54:19] and our products are also swim friendly uh how about competition uh you you're [1:54:26] in REI but um in any other ret are you seeing this kind of pop up in the [1:54:31] clothing um a lot of things that are popping up is internationally um [1:54:37] specifically in Minnesota um there's yet to someone come in my competition no I'm [1:54:43] just kidding my basketball aspect is coming but um through research I haven't found anyone in that market um but if [1:54:49] someone were to come in my competition in that space um hoping to drive my Partnerships that I have with REI and [1:54:56] Tory bur to kind of build that um investment and Seed funding to be able to grow their brand at a larger [1:55:04] scale Pat some I wish we can patent act were but I hope that the next project [1:55:11] that I cannot say um and the products that I want to create that were're able to patent those um that are [1:55:18] coming thank you thank you for your presentation that that was really good [1:55:23] so big Brands like Lululemon Nike um uh what is itth the other one Under Armor [1:55:29] starting to do hijab is sports how are you going to defer yourself from those big Brands and then not being you know [1:55:36] like trying keep up your you know your brand that's a great question cuz I keep [1:55:42] them in the Excel sheet um so with Nike and um with Nike Lulu Lemon and a lot of [1:55:48] these gym big Brands like gym shark the thing is they're not a Muslim girl the thing is they don't know what a sports [1:55:55] hijab is they kind of like use market research of like existing hijabs create a sports where of it I play basketball [1:56:02] and I understand the intereses of like what a hijab looks and I also have partnership with the University of M [1:56:09] Minnesota School of Design um and want to be able to use those resources to [1:56:14] actually create hijabs for athletes um our hijabs are different in that like [1:56:19] Nike is a one- siiz fits all um I have about four variety of hijabs for young [1:56:25] girls who wants to do a flip to any woman who is jogging so I really create [1:56:31] Innovative designs from including magnets to keep it in place built-in headband to keep the hijab in and these [1:56:37] are different key differentiates between Nike and Nike and jym shark make people [1:56:44] hijab and face look like a egg and a lot of women don't like that so I feel like I could resonate with my um the people [1:56:51] that I'm actually selling too I look like them I know what they're going through and kind of UTI utilizing that [1:56:57] to sell it we have a minute and 20 seconds left all I got a quick question for you um [1:57:04] given the success that you've had at REI given the national man that we just heard about from other organizations why [1:57:11] a brick and mortar store in Bloomington as opposed to a strategy that more goes [1:57:17] to the online to developing more um retail um base with other organizations [1:57:23] like dicks or other athletic type places get placement in there why why the brick and mortars in [1:57:29] Bloomington again um really I'm for Community a lot of people we conduct research and interviews and all the time [1:57:37] all women gym space comes up and it's a constant constant constant reminder of [1:57:42] like hey MAA you have a um Kinesiology background you understand how to create programs yes we love your clothes but we [1:57:49] want more um and I think it's always about like finding the demand and going after it and then with the brick and [1:57:55] motor it's going to not only be a space to sell the active Weare but it's also a space to invite people and to design [1:58:00] next collections so I want that first touch base with community members and to be able to really create with them um [1:58:07] and I really can't do that from a small office um that I have and want to be able to have those touching points with [1:58:14] community and I think that's what last longer than partnering up with dicks or REI or things like that thank you so [1:58:21] much thank you appreciate [1:58:29] it okay we have uh pitch number seven [1:58:35] let's let folks move around here [1:58:42] quick okay I'd like to welcome uh pitch number 7 Nuna African restaurant and [1:58:48] Cuisine come on up [Applause] [1:59:16] B Shaban Laban hi my name is Shaban Laban and I'm here helping my mother [1:59:21] represent presenting Nuna West African cuisine let's get started as she just said her name is [1:59:28] Raya laan and she wants to open a restaurant called Nuna West African cuisine she's had this dream for a [1:59:34] really long time ever since she moved into the United States about two decades ago which is how long our family has [1:59:41] been in the United States um before we continue on with the [1:59:48] um our whole plans we have a little table of content here which is going to explain everything that we want to [1:59:54] explain in four simple Concepts what is Nuna what Nuna will offer what does Nuna [1:59:59] need and then why you should choose Nuna first of all what is [2:00:04] Nuna Nuna will be a restaurant dedicated to serving authentically created West African dishes both for dining in and [2:00:11] take out anyone can experience the wonderful flavors of West Africa whether native or foreign and this is true for [2:00:18] everyone that's living here I'm sure you all are familiar with all the different kinds of people that are living in the city and not all of our differently [2:00:25] represented groups living in Bloomington are equally represented and we want to help change [2:00:31] that how the idea was made my mother has plenty of culinary experience from [2:00:36] working with her grandmother in Togo in her own restaurant before immigrating here about two decades ago so she has [2:00:41] plenty of experience working in the kitchen learning how to make all these different dishes customer service and [2:00:47] Catering to all different types of people while also nurturing a really calm and inviting environment that's [2:00:53] exciting for people to eat different foods that they've never had for the first time after being inspired to open [2:01:00] her own restaurant by many of the people that support her whether those are in support groups that we have here in [2:01:05] Minnesota that my mother is a part of some of the people being in that crowd right over there helping to support us [2:01:12] today they're here to support us and they're they're the ones that are here that inspired her to join and sign up [2:01:18] for this today and also Mr sha Lundy as well to too it was a fateful day that my mother was coming over to the Civic [2:01:25] Plaza to get information on how to start the restaurant and it just so happened that the rest that the competition was [2:01:31] starting up so we never had any formal business plans we were just getting started but with the Stroke of Luck we [2:01:37] joined this competition and we made it this far to the top 10 and we hope to prosper even further what will Nuna [2:01:44] offer Nuna will have many different types of various dishes that we have right up over here if you want to [2:01:50] explain a couple of them we have gelof rice sagales rice [2:01:57] chip couscous salad [2:02:02] a puff puff Su [2:02:08] and [Laughter] [2:02:13] hello so as you can see on the screen right over there we have many different types of dishes um with different types [2:02:19] of meats in them some of them are actually desserts like the one you can see right next to the orange rice with the limes on it that's the jof rice and [2:02:26] next to it that's puff puff a different type of dessert that's really common it's kind of similar to donut [2:02:34] holes okay there we go our missions with this restaurant first of all to spread [2:02:39] West African culture and visibility across Bloomington as mentioned before because our population honestly is quite [2:02:46] understated in this city we have a lot of us living here and we all form our own groups and we stick to each other [2:02:52] but we want to make our presence known and starting this restaurant will help us with that we also want to provide a space for West African people to [2:02:59] reminisce of home we have different types of places for people to do that all across Bloomington a great example [2:03:05] would be like the mosque that we have nearby the Bloomington the Bloomington um Walmart on American Boulevard a lot [2:03:12] of people who are Muslim and Somali group up over there quite frequently and [2:03:17] we all get to know each other on a personal basis and we want to provide a space that'll allow people of African descent [2:03:24] and also other people to join in as well too we also want to provide cultural enrichment so for those who have never [2:03:30] had West African food for the first time they can give it a try and they can see if they like it they can also take what [2:03:36] they've learned from experiencing our culture and apply it to themselves in the kitchen as well too to make more exciting dishes as well too and we also [2:03:42] want to illustrate that anyone from anywhere if you have a dream and you put your mind to it you can achieve anything you want to [2:03:48] do and then we have some examples right here of the so-called community that we've built up ever since we've started [2:03:55] our lives in Bloomington um these are many examples of the people that my [2:04:00] mother is surrounded by on a daily basis that I've all been supporting her from day one and they're pushing so hard for [2:04:05] her to prosper in Bloomington and expand even further than what we've ever dreamed what we need for Nuna as [2:04:13] mentioned before U because we didn't have any business plans like any formal ones when [2:04:19] we first began planning our restaurant everything was a bit slow starting we've had a couple of meetings with business [2:04:25] advisers and also people in our community that know about business and opening a restaurant even those in other [2:04:32] states as well too so we could get some insight so for example our licensing we figured out that's the cost that we [2:04:37] might need $1,024 a year spacing we're thinking of starting at 600 or 700 [2:04:43] Square ft cuz we don't need that much space cuz we want to start off with more of a takeout sort of space But as we [2:04:49] expand and we make more profit we want to um make a bigger space for people to come and dine in and really experience [2:04:55] our culture we also have some figures for utilities marketing and our initial inventory and working capital as well [2:05:01] too these are all estimates so they're not exactly 100% certain but this is what we've came up [2:05:08] with and finally why you should choose Nuna you're going to be exposed to a [2:05:14] culture for the first time I don't know how many of you in here can claim that you've ever tried West African food for [2:05:19] the first time whether that's Nigerian or toges or Ganan anything can you I'm [2:05:25] not sure but you should be able to try it for the first time if you let us open a [2:05:32] restaurant we want to highlight the diversity of Bloomington as well too we have people from all around the world [2:05:37] living in one specific City and we want to highlight that we want to give everyone their own space and if we can [2:05:42] show that we can start that by setting a president with Nuna West African cuisine I'm sure others will follow a suit as [2:05:48] well too we also want to provide variety to the culinary scene as well too because we haven't seen a West African [2:05:55] specifically restaurant open in all of the two decades that our family has lived here in the city we also want to [2:06:01] help Kickstart a female Le business as well too which is also going to add to our diversity and inclusion as well too [2:06:07] showing that anyone from anywhere can achieve anything that they want to do we also want to help stop misconceptions [2:06:13] about African people and culture as well too cuz although we have making steps in our education in schools and also [2:06:19] socially online as well too it's not too many people that know about the reality of African culture and assume things [2:06:25] that simply aren't true finally we also want to create another restaurant with authentically sourced and organic [2:06:31] ingredients for healthy food for all to enjoy which will also cater to things like allergens and food specific tastes [2:06:37] as well too it's more than just food it's home we have more examples here of [2:06:44] different events that my mother has been to all the people have been supporting her since day one all these people that [2:06:49] have been here by her side as well too I kind I've also considered them my family too because they've watched me grow up as [2:06:55] well thank you so much everyone here are some contacts right here if you want to get into contact with my mother as well [2:07:01] too and I just want to take this time to say that even if we don't win this Bloomington hatch competition as well [2:07:07] too we are still going to put in further work to start Nuna West African cuisine thank you thank [2:07:14] you great okay we are ready for questions judges hi great work um how do you uh [2:07:23] Intrigue a new consumer who wouldn't consider the fair for example if they say well I've never tried West African [2:07:29] food how do you intrigue them or how do you get them to to to try get become curious about it okay um so for example [2:07:36] like the um many different types of fast food chains that we have here in Bloomington they're pretty commonly [2:07:43] based around a different culture like for example Panda Express that one is more of like an Asian inspired American [2:07:49] restaurant so maybe those who haven't ever tried Asian food for the first time could dip their toes in it by trying a [2:07:56] fusion so it's kind of the same concept that we can try with Nuna as well too [2:08:01] because in the slideshow we did provide some examples of foods that some might recognize on first glance like for [2:08:07] example jalaf rice I'm sure many people in here have had rice before it's a really common Staple in the dishes and [2:08:14] food that people make um they'll be able to experience new flavors along with [2:08:19] those different types of food that they're seeing as well to too and along with that we can also explain the culture behind why these Foods came to [2:08:26] being in the first place as well with their cultural significance and why it's so important to us [2:08:34] Africans well thank you for being here and um thank you you remind me of myself [2:08:40] helping my mom when she was going developing her own uh catering company [2:08:45] and so I want to give you mad props for supporting your mother and your mother for taking the time and courage thank you so much [2:08:52] um my question having that background um do you have plans for this being [2:08:59] primarily family run or do you have plans to bring out employees as well to support your your your business from the [2:09:05] discussions that we've had with our family so far um because we're uncertain [2:09:11] about like the first few months let's say if the restaurant were to open we want to keep it more family centered in [2:09:18] the beginning but as we see more and more profit and as we begin to lift off [2:09:23] and we get more recognition in the Bloomington space we want to provide opportunities for other people as well [2:09:28] too maybe they might not be as well off as others in the community cuz we also want to uplift other people not just [2:09:34] West African people as well too we also want to help other um people of color as well and even people outside of that [2:09:41] sphere as well too so providing opportunities maybe let's say like the staple like cashier job for example we [2:09:48] might also introduce a catering service where people will be able to help my [2:09:53] mother take out these different types of dishes that she's able to come up with and create and take them out to people [2:09:59] all around and even outside of Bloomington as well too um we can also consider having people in the kitchen [2:10:05] working with her as well making sure to clean things up um so kind of like how [2:10:11] you would see like the staple restaurant with its different roles and jobs that we'd have but it would be on the come up [2:10:16] it wouldn't be right away cuz we'd have to gauge our profits and our losses to make sure we wouldn't be expending too [2:10:21] much yeah um speaking of that uh what is your competition is there any other [2:10:27] thing like this that exists in the metro area or to your knowledge the closest [2:10:34] competition that I could say would be um I'm not sure if you've ever heard of it [2:10:40] but there is a Hal Market by the mosque that's nearby the Walmart that we have [2:10:45] here in Bloomington um their food is more focused on East African food so that's like the closest approximation [2:10:52] that we have to competition here we don't really have any actual West African representation in the culinary [2:10:59] scene and seeing has how um um the Somali spaces have been prospering [2:11:05] they're pretty popular we have people that we know who aren't of that descent that go there pretty often and try out their food and buy it on a uh frequent [2:11:12] basis we want to uh support something that's on the opposite side of the continent of Africa and show that we can [2:11:18] be just as prosperous as they are while also provide a new experience for anyone to [2:11:24] experience thank [2:11:30] you okay Mery okay so talking about profits and you know cost and profits um [2:11:37] have youve you know decided about is it going to be a buffet style or a sit and down restaurant or what's the plan [2:11:43] because that's going to drive the profit right and have you thought about the cost and the the bottomland [2:11:49] revenue so in the beginning from what we planned um because we wanted to start [2:11:55] small so that if we ever had any losses they wouldn't be too gigantic we were thinking of starting with a small [2:12:01] takeout so that people would be able to come in take out the food um if there's [2:12:06] a small space they can go and sit down and eat it and chat with us as well too about their experience and how they like [2:12:12] or dislike certain things so it's a more intimate experience cuz they'll also be getting to know the family in that as [2:12:18] well too um and then as we get more of a chance to expand and grow bigger we're [2:12:24] thinking of opening into more of a takeout and also a dining experience as well too with the added catering bit as [2:12:31] well if we're able to expand that far um as it as it comes to a buffet I'm not [2:12:37] entirely sure we're considering that are you [2:12:43] thinking okay she's considering the option to open a buffet but that would [2:12:48] have to be after everything else is up and running as well too cuz we want to provide different ways for people to [2:12:54] experience our traditional culture as well and not through just the food only as well too but also by interacting with [2:13:00] us in the space that we create in the restaurant as well too with different theming and objects and items colors and [2:13:05] everything that all add to the experience two minute warning thank you um thank thank you for being here again [2:13:13] um two things first off um I when I lived in San Francisco I lived across the street from an Egyptian man who ran [2:13:18] a pizza joint but he made pizza Egyptian style which I did not know existed in the world and it was always very fun but [2:13:25] more importantly I got to know him as a person because he would often sit with us as we ate and everything so I understand the concept you're talking [2:13:31] about I I'm curious about the average price per meal um so if you're take if you're doing a takeout and you have all [2:13:38] you know five six options on a daily basis are we talking about um you know something that's like you know 11.95 [2:13:45] 1995 25.95 what what are your what are you thinking in terms of average price per meal I think what answer right the [2:13:52] average price like uh $15 mhm okay and that would be for like a a protein and [2:13:59] two sides type situation they mean like adding on like [2:14:04] things to the main dish yes on the side yes okay all right great um have you [2:14:10] done any research since it since it sounds like you kind of started looking into some places in Bloomington have you [2:14:15] looked at any particular locations and are you finding any barriers to uh that [2:14:20] you have to consider um you know we we struggle here candidly with commercial [2:14:26] kitchens sometimes and and some of the requirements around that so I'm I'm kind of curious if you've run into any barriers already and and what you might [2:14:32] use this money for to try to overcome those barriers okay when it comes to this [2:14:39] question here um the kind of research that we've done [2:14:45] concerning our location and our venue for this restaurant um unfortunately it [2:14:50] has been a little bit limited because we haven't exactly had the full chance to go all out and really have the time to [2:14:58] invest into looking into specific areas we know for sure we're considering a [2:15:03] location that would be more Suburban but if we had to we would also go into an urban location as well too but our [2:15:11] ultimate goal is to remain Suburban so that it's more accessible for everyone in Bloomington as well too and then [2:15:16] maybe also for others that are coming in as well they can come in from the big cities and try out our stuff as well too [2:15:24] yeah that's fair thank you I appreciate it thank you thanks so much thank [2:15:29] [Applause] [2:15:36] you okay thank [2:15:41] you okay we are now at oh changing of the [2:15:47] garden people moving [2:15:57] I think this is the biggest audience shift to [2:16:11] record thank [2:16:17] you okay um while everyone gets settled why don't we bring our contestant in so [2:16:23] you get set up come on [2:16:29] in all right let you just get settled for a second do you want to move around [2:16:35] with your mic you want do you want to handh hold it or just have no this is fine I know last time you moved around [2:16:41] all right everybody's in their seats great uh this is pitch number eight scrambling egg [2:16:48] [Applause] [2:16:54] all right let's get scrambling you guys my name is Grant vener and this is Nick Peterson we're the founders of [2:17:01] scrambling egg scrambling egg is a fast casual breakfast establishment that prioritizes quality service and [2:17:08] timeliness creating a dining experience like no other I grew up in Bloomington Nick grew up in South Minneapolis and we [2:17:15] met in college in Morris Minnesota Nick and I bonded over our passion for the restaurant industry particularly the [2:17:21] old-fashioned diners you'll find peppered around Minnesota that's how we start our concept of the future one that [2:17:28] specializes in all things breakfast one that can modernize the classic rural Diner experience after graduating Nick [2:17:35] and I remained good friends and worked at many many different restaurants we refined our culinary skills we learned [2:17:42] what works in the restaurant industry and what doesn't one of the most important lessons we learned is to not [2:17:48] over complicate things keep things simple Nick and I do not like giant menus giant [2:17:53] menus put a lot of strain on a kitchen there's too many options which results in longer ticket times food waste and [2:18:00] lower quality meals after learning as much as we could Nick and I decided it was finally time to start something of [2:18:07] our own we knew we wanted to start small so we got a little food trailer we wanted a small menu that was [2:18:12] customizable and our small operating space helped Force us to do that we have [2:18:17] big big plans for scrambling egg but we always want to keep that small mindset that mindset is what has made us [2:18:24] successful in what we do we wanted to use the food truck to test our concept how we did that was by planting [2:18:30] ourselves strictly in Bloomington moving around on a weekly basis and providing a consistent schedule we've tried treating [2:18:37] ourselves like a brick and morar so we can see if there is a demand for this concept and after a year and a half of [2:18:43] operations we can confidently say our concept works so what is our concept [2:18:49] fast casual breakfast food here are a list of some of our competitors notice anything more than [2:18:55] half are fast food chains fast food chains that specialize in Burgers and Tacos then there are others that are sit [2:19:02] down establishments where you sit down order eat pay and leave resulting in a [2:19:07] 40-minute experience there is no in between for people who want a high quality breakfast meal served quickly at [2:19:14] a fair price there's a reason all these chains are pushing out breakfast menus it's because there's a demand the issue [2:19:21] is they are Burger and taco places you don't go to your Barber for a toothache you go to your dentist so why are people [2:19:28] going into a burger CH chain for a quality breakfast meal it's because there's no restaurant that specializes [2:19:34] in breakfast with an emphasis on speed that is until now thanks to scrambling [2:19:40] egg there's hundreds of different ways that you can have your scrambling egg with that oh excuse me there's hundreds [2:19:46] of different ways you can have your scrambling egg with that customization you need to rely on ingredients that's [2:19:51] why we felt it was important to get the best eggs available we partnered with Larry Schultz's Organic Farms because [2:19:57] however you like to scramble you can know you've got a local organic cagefree and delicious egg for breakfast our menu [2:20:03] has an emphasis on customizability three base options with the bowl the burrito and the sandwich four Meats five veggies [2:20:10] five sauces make up thousands of different options that people can enjoy there are also any number of [2:20:16] dietary needs ranging from comfort food to being health conscious gluten-free lactose intolerant vegetarian vegan pork [2:20:23] free there's something for everyone at scrambling egg we designed the menu to be [2:20:28] streamlined through prep with high quality ingredients prepared daily limiting food waste and keeping cost low [2:20:33] for customers at scrambling egg we're morning people so that you don't have to be everyone knows how important [2:20:40] breakfast is to start your day and there's only so much time in the morning to get it all done we aim to not have [2:20:45] your breakfast be a casualty of your mornings and instead become a highlight through online ordering we've been able [2:20:50] to allow customers to put in their breakfast select their pickup time and make their breakfast run as easy as two turns on Old shock [2:20:56] coulde let me run you through how this process works inside of the trailer when the online order is sent we receive the [2:21:03] order and pickup time here we have a sausage and veggie Bowl scramble [2:21:09] sace here we have A's yeah there all right here we have a [2:21:16] sausage and veggie bowl with scrambling sauce the team inside the trailer then gets to work on combining the ingredients the base of the bowl and [2:21:23] then a layer of the sauce everything is sauteed together and an egg is made with cheese all of that goes into your bowl [2:21:29] and your breakfast is ready I'd like to briefly touch on [2:21:36] future plans as far as the menu we currently offer limited coffee options which we'd like to expand for [2:21:41] variability in people's morning routines as well as adding a snack-sized potato [2:21:48] option we opened in April 23 and our sales have been steadily increasing ever since we broke this down in our weekly [2:21:55] averages for 2023 versus 2024 in 2023 we had an average 276 customers weekly with [2:22:02] 8 Minute 41 second ticket times in 2024 we had on average 506 customers weekly [2:22:09] with 4 minute 41 second ticket times our average weekly sales also increased 102% [2:22:16] from 2023 to 2024 we've drastically increased our customer traffic while [2:22:21] also cutting our ticket time in half this shows we've been getting busier but we've also been getting much more [2:22:27] efficient which is a vital component of the restaurant industry here's an inside [2:22:32] look of our trailer pretty small it's hard to visualize but on Saturdays we have five people inside of there with [2:22:39] one person outside taking orders each person has their own station where they stay planted we rarely move behind each [2:22:45] other making an efficient assembly assembly line process we've changed the layout numerous times to minimize steps [2:22:52] and maximize our efficiency this small layout has been a big benefit to our operating system but as we've been [2:22:58] getting busier it has started to become a problem we've done something we're very proud of we've outgrown our space [2:23:05] we've solved a lot of problems that have made us more efficient but we now feel like we've maxed out our little trailer [2:23:11] we will always keep our small mindset but we're ready to get big bigger and our customers are [2:23:17] too we've received a lot of positive attention from our customers social media influencers and journalists the [2:23:23] feedback has been very positive and we're ready to meet the demand we have a location in east Bloomington that we're [2:23:28] planning on moving into the space needs some minor Renovations but doesn't require a full buildout which saves a [2:23:34] lot of money we would use the money to restore the space create a pickup window create a curbside pickup system improve [2:23:40] our online ordering platform and get kiosks for efficient ordering systems not only do these factors create a [2:23:47] smoother ordering process but it saves on labor expenses and these savings can be passed on to the customers to create [2:23:53] a more price friendly menu now we include another picture of our host Annie because I know people get nervous [2:23:58] that technology diminishes the hospitality aspect of a business we know how important hospitality is in the [2:24:04] restaurant industry and we will never let technology compromise our Hospitality at scrambling egg you will [2:24:10] always be greeted and helped with a friendly face Nick and I started scrambling egg because of our love for [2:24:16] the American Diner not only do we love the food but we love the environment and we want to bring that to scrambling egg [2:24:23] we want people to feel like they are walking into a classic diner with a modern twist we also got into the food industry because we like to serve others [2:24:30] creating something that fills someone up and provides them with a memorable a memorable experience is the best feeling [2:24:36] in the world we've had so much fun meeting new people every day and having the opportunity to become a part of the [2:24:42] community in Bloomington would be a great honor this is a great town with amazing people and we couldn't be [2:24:48] happier at the thought of establishing and growing scrambling egg and Bloomington with your votes we can really get scrambling and grow to our [2:24:55] full potential thank you thank you [2:25:02] judges I'll good evening thanks for being here um how many weeks a year do [2:25:09] you operate right now I mean we try and be open every week we can um I mean [2:25:14] obviously seasonality can affect things um I mean so we try and do 52 but vacation I mean if you had if you had to [2:25:22] guess on the number 506 weekly what was that uh over how many weeks 506 so we [2:25:28] averaged it out we took our week every week and we took how many weeks we were open and I don't have that number [2:25:34] unfortunately but then we averaged it out for all those weeks right that makes sense I was just curious what the a the number of weeks your open was cuz I was [2:25:40] trying to do some math here I gotcha that's okay um that's cool we'll go on um I'm curious um you've me you [2:25:48] mentioned that you go from you've gone from place to place to place and I've I've you know I follow you on social [2:25:53] right so I know where you're going um uh you're moving into a brick and mortar that will put you in one part of town [2:26:00] without moving around how do you feel like that impacts your business model um [2:26:06] positively or negatively well we definitely think it'll affect it positively because of the location it's [2:26:12] at a very very good busy High trafficked area and there's also future projects that are being done by the city of bling [2:26:18] and I hope improve the area and make them walkable and bikable and buff bus transit systems so we envision the space [2:26:25] is only going to become busier and I mean we really want to reiterate the point that you know we've we don't treat [2:26:32] ourselves like other food trucks where they you know they go to where the people are they go to the events um we [2:26:38] try and just stay in the same location and just have the people come to us because that shows they like our food [2:26:45] they like what we're doing and it kind of just proves the concept more and more because I do think if we went to to [2:26:50] festivals we do great but that doesn't really prove that this concept Works [2:26:56] last question do you know the margin uh on your food right now yes we do it at [2:27:01] we're at 19% right now so we're very proud of how we've where we're able to get that right now and thankfully me and [2:27:07] Nick are very frugal people so we've done a good job of finding where we can [2:27:12] get just the best quality ingredients of course at the best price thank you [2:27:20] thank you for the presentation so if you're moving into a brick and mortar you know that the the the lease is going [2:27:26] to be way more expensive than than the food truck so have you calculated your [2:27:31] Revenue versus your expenses per month yes we have actually and um so as a food [2:27:37] truck you're required to operate out of a commissary kitchen um and our one previous was in South Minneapolis and [2:27:44] our rent was actually very high for that commissary space and it was essentially [2:27:50] we have a proposal for the space we're looking at it's the same as what our commissary kitchen was operating out of [2:27:56] so it hurt you know having that kind of rent but it ended up just kind of helping us like fine-tune our cost more [2:28:03] and figure like hey this this would work at a brick and mortar we can afford that [2:28:09] rent so based on having the semif fixed location where it it's in the same place [2:28:15] for a while but then moves around does the data that you have show that the the location that you're looking at uh was [2:28:23] one of your higher traffic areas um or um or not I guess well that is the nice [2:28:30] thing about being a food truck is we can test it so we actually recently tested the spot and it was you know I mean it [2:28:39] takes a while when you go to a spot your first wheat there is you know so so but then once you come back there's more [2:28:44] word of mouth people start talking about and they go hey that food truck that was here a few weeks ago they're going to be back so we tested that space out and our [2:28:52] sales were good they were very good they matched like our normal week sure they might have been a little bit lower but [2:28:58] we're very confident if we go back to that space we can definitely reach our average uh sales for a weekly basis just [2:29:07] quick followup um in your experience on that how far are people driving to come to your [2:29:13] location I mean a lot we I mean we have a lot of repeat customers and we were at [2:29:19] that new spot that was more East a lot of them drove that distance to get there we don't necessarily know how far they [2:29:24] drove um but I mean just to talk more about that area it's very high [2:29:30] trafficked and I mean the whole thing too is like we just want to prove this concept because we think this can work [2:29:35] all across the nation to be honest we think this works everywhere so we're not necessarily worried about moving away [2:29:41] from where our normal customers are because we know we're going to have the ability to bring in new customers [2:29:46] because of how good our food is and our service uh two quick questions um first is how [2:29:53] many days a week are you guys open uh currently um if I ever wanted to come stop by and get some and uh what are [2:29:59] your big picture plans like if 10 years from now what do you imagine uh scrambling egg being now we definitely [2:30:05] have a lot of Visions probably too many Visions but well did Nick keeps Nick I kind of think of a lot of ideas and Nick [2:30:11] helps keep me in check that's why we're good business partners um but answer your first question we're open 5 days a week uh we would like to expand that [2:30:18] 100% especially with the brick and ideally 7 days a week including hours as well currently we operate 700 to noon [2:30:25] we're hoping for Brick and Mortar we'd be open earlier as well as later into the day into the lunch hours what day uh [2:30:31] Tuesday through Saturday yep yeah so we'd like to add Monday um because we kind of the main thing too we want to [2:30:36] show is that we're not necessarily brunch spot we don't want to be known as like this is where you're come to hang out and drink mimosas and Bloody Marys [2:30:43] this is more designed for people that are on their way to work on their way to school and they want a quick meal um but other plans I mean we just [2:30:51] want to grow this thing because we know it's got legs like we know we can keep going and make this thing big and roll [2:30:56] it out nationally I mean that's the dream um I definitely well I want to [2:31:02] raise chickens someday and Supply our own eggs we'll see if that's possible all right two [2:31:13] minutes and um you might have said this sorry the how do you get your customers [2:31:18] strictly word of mouth or you you going to be marketing sorry a great deal is Word of [2:31:24] Mouth we have a lot of people say someone recommended this to them which is always great we've been trying to be active on social media which has been a [2:31:30] huge help for us also just having other influencers people like food critics [2:31:35] have come by that's also been a huge help for us the the idea can be copied very easy [2:31:43] how are you going to protect your your brand your you know your concept well we [2:31:48] are getting a trademarked and I mean no one's as good as us to be honest uh we have a lot of experience we know what [2:31:55] we're doing and we love what we're doing and we're young and we're ready to just keep rolling with it and that is [2:32:01] probably kind of like I'd say my biggest concern right now is uh you know I it [2:32:06] it's a good idea um and like you said someone else could do this so we got to win this money and grow this as quick as [2:32:13] we can and just get it out as fast as possible any other questions okay 49 [2:32:20] seconds to spare okay thanks so much thank you [2:32:30] guys okay any audience shifts the time is now [2:32:42] okay okay we'll let our contestant get ready [2:32:48] here we'll let everybody leave Katie and then we'll [2:32:54] go you guys can stay okay you can vote for me [2:33:00] too solid um how do it but you have to do all listen to all [2:33:07] 10 first all right where's my okay okay so pitch number nine the Arts creative Katie Ross we're ready to go time is [2:33:16] there thank you thank you all right thank you guys so much for allowing me [2:33:22] to be here tonight my name is Katie Ross and I own the Arts creative which is a studio on the other side of Bloomington [2:33:29] where we are cultivating a village of creatives with purpose so I want to ask you guys something first can you [2:33:36] remember the name of your favorite teacher I have a couple favorite [2:33:41] teachers and when I remember what they really like what I really remember most about them is how they empowered me and [2:33:48] how they really made me think I can do anything that I put my name to or I put [2:33:54] my mind to I had the privilege to teach for over 10 years in the um surrounding area and I loved empowering my students [2:34:01] to lean into those mistakes um and learn how to grow through those mistakes [2:34:09] um so there too many pushes okay so I [2:34:15] wanted to do that by uh bringing people together especially post pandemic mic um [2:34:21] and I wanted to have them come and do some art together something new to try maybe they haven't tried before but I [2:34:26] wanted to make it easy for them to come in just as they were so where their skill level is they don't have to buy [2:34:32] any tools before they come in I have all the materials everything is there it's kind of all in Stop and Shop you also [2:34:39] don't have to sign up for like a six week program you just can try it and then maybe come back afterwards okay um [2:34:47] my other big thing with my summer camps kids will ask me Mrs Ross do you have a pencil Mrs Ross do you have this so my [2:34:53] favorite thing to do is Empower them to ask three before me okay and it's not [2:34:59] because I don't want to talk to them or I'm too busy it's usually because they can solve those questions themselves or [2:35:05] they can figure out who was listening or who else might know and that's I'm just really trying to tell them you can do [2:35:11] this you can do this with your own hands um middle school students really taught [2:35:17] me that relationships are key and if I build that relationship with them I can really teach them anything so [2:35:23] relationships first except for when I see people walking with scissors that's my other value is safety first so always [2:35:29] hands down by the side when you're walking with scissors the Girl Scout of me utilized my resources wisely if any [2:35:36] of you guys are on buy nothing Bloomington it was probably me picking up your stuff and bringing it into the [2:35:42] studio to see how I can create new life with that um some of you guys might know [2:35:48] my Uncle Bob Ross okay he's really not my uncle I got to be authentic here um but he again leans into those being your [2:35:55] authentic self um and I I have noticed just in the last year that um as you can [2:36:02] feel the community in here with me they've really embraced what I'm really meant to do here [2:36:10] so how I was going to do that I'm pressing over here um has started bringing art classes not just for kids [2:36:16] but for adults too um some of us haven't even had art class since probably fifth grade throughout the summer people ask [2:36:23] me hey do you do birthday parties and I was like yeah we do birthday parties what do you want to do you know and the [2:36:29] birthday parties of were all ages as well which was really fun um like I said summer camps have been a good thing a [2:36:36] great source of Revenue uh we all know that child care is super expensive and summer camps are really expensive um but [2:36:44] I pulled out my resources again and I made a connection with the springboard for the art [2:36:50] so that I could be fiscally sponsored so I could reduce the summer camp cost for parents I've already helped over 10 [2:36:55] families with over $1,000 so that they could re reduce those costs [2:37:01] um oh and those adults didn't know that it was that place was for them so I [2:37:06] grabed my Mary Poppins bag and I cruised on over to Nine Mile and fat pants and [2:37:11] other and other restaurants and stuff to say let me like ex expand your experience remind you how much fun you [2:37:18] have with art and then tell you that I'm over there on the other side of Bloomington and come and find [2:37:24] me um this is a great visual as a Garder um you could see that I have already [2:37:30] Beed fruit in my first year I'm cash positive I've actually hired a couple local artists um to do uh some summer [2:37:37] camp stuff with me or teach classes uh but you could see there's a couple bugs you know we all have maybe not the best [2:37:44] fertilizer yet um and I have been working out some of those bugs I've learned a lot in that first year I'm [2:37:49] definitely the Hands-On learner um but I have just hired my part-time admin um [2:37:55] and like I said I have a couple teaching artists that I've worked on but imagine when you crush up those eggshells and [2:38:00] you put them into come on there imagine you crush up those eggshells from hatch Bloomington and we fertilize this [2:38:06] awesome business and you can see that I can start teaching a lot less hiring a lot more um I'm working with somebody on [2:38:14] Elevate henpen right now with a marketing strategy it's going to cost money what I tells me to do to to put [2:38:19] that out so I need that money for that um really what you're going to see is [2:38:25] that I get to jump to year five so I don't have to do that slow organic growth which I will and we have been but [2:38:31] with the hatch Willington I can jump straight to year five which would be awesome you're going to see all the art [2:38:37] studios around the Twin Cities you can see my big beautiful star guiding you right to where you want to be um and [2:38:43] especially for those western suburbs and the Southwest they don't have a place to go to and unlike from one side of the [2:38:51] Bloomington to the other that takes us 15 minutes and we don't want to do that these people will get in their car for [2:38:56] more than 20 minutes to come all the way because they have told me there's nothing else to that does this that one [2:39:02] stop in so I actually had people all the way from River Falls one day for a stop in and I had somebody all the way from [2:39:07] Pine City so that's pretty far um just this weekend so I told you [2:39:13] we we're a new spot together I told you the neighbors are coming well this weekend I was crazy enough in last two [2:39:19] months to decide we're going to do bloomington's first ever Street Art Festival we had over 24 artists some of [2:39:25] those like five or seven of them had never sold art ever in their life so it was really cool to see and Empower them [2:39:30] do that um but I also within the first year I love collaborating because just [2:39:36] bringing that art experience of course these are just some of the people that I've collaborated with this year I have [2:39:42] to point out clutch hitters who was my partner there for uh the Bloomington Street Art Festival so we got to merge [2:39:48] that artist and ath something I never thought I could do as an educator was be friends with the coaches you know they [2:39:55] always take my time so it's not just for nothing okay we're [2:40:01] doing this on purpose art has a lot of power we know about art healing you know that you've had those um ad adult [2:40:09] coloring books for your selfcare um art is culture brings us together um [2:40:15] something so bringing people together practicing that self love love [2:40:20] appreciate what others do what makes them bloom and then my favorite thing is expressing that higher order thinking if [2:40:27] you really want to get nerdy with me later we'll talk all about Bloom's taxonomy because it's my favorite [2:40:32] thing shows us that art is the best so with you and your votes and your parents [2:40:39] votes and your neighbors votes your uncles's votes your aunties and anybody else who has a thing on all devices we [2:40:45] will cultivate [2:40:51] a village of creatives with purpose oh my God you guys with purpose [2:40:59] there we go the clicker anyways thank you guys that's [Applause] [2:41:12] it okay judges when you're ready [2:41:23] um so um do you currently already have a brick and mortar or how I currently [2:41:28] already have a brick and mortar okay okay and I did all of it myself I was my own project manager learned how to deal [2:41:35] with a lot of stuff almost burned some bridges in the city first of all but I was really scaring overs I love you to [2:41:40] death but yes we're open a whole year cash positive and growing do you own it [2:41:46] or lease it I'm leasing right now okay okay and so so this money would be used towards I mean you probably said it but [2:41:53] um could you reiterate how you use the money yeah I would say right away like the good thing is you guys that $100,000 [2:41:59] is not going to get wiped away day one part of it's going to stay for you know when I need to move and get bigger or I [2:42:06] need to maybe like update my floors for example um that I just was stepping at [2:42:11] them today I was like this is going to be where I'm going to put this because I want safety in my place um but yeah I [2:42:17] really want to spend it on hiring those artists I love networking I learned that that is actually a job that I can do and [2:42:23] I'm awesome at it but I and I love what I do is like Ceramics and staining glass [2:42:29] um but as a teacher K to 12 I've tried everything else but it's not my passion I want to find those artists and [2:42:35] artisans in in the surrounding area get them in here and have them share their [2:42:40] passion are there other model programs in other cities or markets that you you [2:42:46] you're inspired by or that you kind of guides you yeah um definitely you got to [2:42:52] learn at who what other people are doing I love that you didn't say my competition because art is not [2:42:58] competition more art just means more art um but there is one up in um uh it's [2:43:05] called Uh Rum River Art Center and I feel like they kind of have the same idea that I want to have they're like my [2:43:10] big sister I'm looking up to um but they yeah because they're doing like [2:43:17] hiring other artists it's these other smaller shops that are very niched to like what age they are uh bringing [2:43:24] people in or like um the type of maybe I don't want to I don't want to dumb them [2:43:30] down at all but like it's more for the refrigerator and it's less about the process and learning so I think I'm a [2:43:36] little different in that way so to kind of build on that you said with this uh funding it would help you get to year [2:43:42] five so what's your 5 through 10 look like for the Arts creative okay so when I get this hatch [2:43:49] inton and I'm at year five next year then I have to start thinking about how can I um do I need to find a place [2:43:56] that's bigger I have a dream one day that like there's a cafe right that that [2:44:01] there's local um chefs that are making something and you need to take and bake [2:44:07] to go you know your kids get dropped off at school after school with me and they baked bake something to go and they [2:44:13] leave it I've got thousands of huge Big Dreams you've only seen about like 20 of [2:44:19] them at a time right now but if I could I would love to buy a space if it's the right way you know if it's working for [2:44:26] me that I can just add more Mary Poppins bags to people and send them on their way awesome I do think that the brick [2:44:34] and mortar is important because I've had people be like this is my space and so I'm like okay good thing I didn't just [2:44:40] do mobile first because they do need this space so I think we could do [2:44:47] both can you give us an overview of what type of art currently goes on and any [2:44:53] expansion plans um of different types of art mediums that you're thinking about [2:44:58] if you expanded the space so what's cool about me is that I am a little bit unique already having stained glass so I [2:45:05] have like the copper foil I have the lead came and I have Mosaic I have a low fire Ceramics which is actually [2:45:11] different than Artistry with a high fire um but like for instance this weekend I [2:45:16] met a bunch of artists um one lady does Ru Ru is like a Pitfire that you can do [2:45:22] actually mobile if you want to so I'm like well we should collab we'll take my students who already have their bisquare [2:45:28] and we'll go have like an event one time and we're going to have a racu party you know um another person this Thursday [2:45:35] who's coming in is a local artist she does like I get really excited about this she does those big weavings where [2:45:43] like you have to go like and you like throw it through you know and it's like the big huge Loom she's bringing 10 of [2:45:49] those to my studio on Thursday as a vis I mean yeah you want to count it's 40 bucks I'm telling it's really fun it's [2:45:55] like when all those ones have been in the museum you're not supposed to touch I get to touch them this week and the [2:46:01] kids and the kids it's for the kids actually two adults have already signed up so but yeah I mean like I said it's like [2:46:08] finding those artists what's your passion because you guys can tell I'm passionate and that's what makes people [2:46:13] excited so I can really fake that I'm super excited about anime [2:46:20] my poker face isn't that great but I can fake it sometimes if I need to but I'd much rather hire Savannah who is really [2:46:28] awesome at and she wears all her anime and she knows it right off the top of her head because it's the authenticity [2:46:34] part you know sorry I love art and so this is [2:46:42] always I want to just talk to you that's the problem um so I'll come by later um [2:46:47] no the the the specific question I have is um when you think about the education process of of art how how do you measure [2:46:56] that from an outcome perspective when you think about like your business objective um how students are learning [2:47:02] if that's your objective how are you you know measuring that for yourself to say [2:47:08] in addition to being cash flow positive I also believe I have a successful business because yeah so it's awesome [2:47:15] because it you're pulling on my heartstrings as a teacher and I said earlier that like AR gets cut I think [2:47:22] it's on purpose I think that we are building people who are following directions because we need a lot of employees I want to make innovators I [2:47:29] want to make problem solvers and I want to bust through that and we take it away pretty early and you have to go seek it [2:47:36] and you have to fight against your Athletics or your chess club or whoever um that's why I didn't fit in the [2:47:43] education anymore because like I just push push push these Arts I know that the learning's happening because I force [2:47:49] them to learn it I force them like Mrs Ross what color or they'll say something [2:47:55] like well what do I do next and I'm like well did you ask three before me like did you and then they are right then I [2:48:01] don't have to tell them they're learning their whole entire world but I'm teaching them that they can they can do [2:48:06] it themselves so I actually had to stop uh summer camp this morning I had the festival three days and I did summer [2:48:12] camp this morning 9:00 to 4: and um I go you guys it's a trick I tricked you you [2:48:18] think you're coming in here learning art I'm actually trying to teach you to be a good person so when she's talking I need [2:48:23] you to be quiet so we listen you know and it's like these kids are looking at me they're like Mrs Ras we're not in [2:48:28] school leave me alone and I'm like but we're always learning and you and if you're an adult you're always teaching a [2:48:35] kid something so no matter what you're doing but as far as measuring it like [2:48:40] maybe one day I can get certified because I will crush the numbers I know my kids [2:48:45] will 38 seconds for a last question [2:48:51] good okay thank you thank you [2:49:10] guys I hope those doors are wonky All Right audience shift [2:49:24] all right we're just about there okay our final pitch of the evening [2:49:31] pitch number 10 the jump this is Haley it's a reminder voting you should do it [2:49:38] after this one you'll have heard all 10 when you're ready I'm Haley Matthews Jones I'm [2:49:45] founder of the jump the jump is a size inclusive a size inclusive jumpsuit brand [2:49:51] sustainably made in the US we're currently in research and development phase with a goal to launch in full [2:49:57] 20125 as a busy working mom of two young kids jumpsuits are one of my wardrobe [2:50:02] Staples they're practical stylish and cool they often go from day to night [2:50:07] really easily with a quick change of shoes and accessories but many of the ones that I currently own are often Too [2:50:14] Short in the Torso or the inseam or they they have buttons that gape if you you have a fuller bust they're also often [2:50:20] manufactured as fast fashion overseas 68% of women in the US were a [2:50:27] size 14 and above but most apparel Brands don't go beyond that in their standard sizing and many don't offer a [2:50:33] plus-size line globally the plus-sized clothing Market is estimated to be worth $288 [2:50:40] billion and the US made up $163 billion of those sales it's on track to surpass [2:50:46] 500 billion globally by the year 203 33 so it's not simply a feel-good inclusivity metric it's actually good [2:50:53] business to offer intentionally designed Apparel in expanded [2:50:59] sizes the jump ble offer sizes extra small through 5x's standard did you know [2:51:05] that there is currently no Universal size chart a brand will choose their size medium and then simply increase or [2:51:11] decrease the measurements by 2 in to determine the other sizes which is not how the human body works we plan to take [2:51:18] accurate measurements from hundreds of women using the Apparel Design body scanner at the Goldstein Museum of [2:51:24] design in St Paul to develop our size chart based on real women's [2:51:29] bodies the funds from hatch Bloomington would be used to manufacture our first collection and open the jump HQ the [2:51:37] physical space would include a retail showroom design studio and fulfillment [2:51:42] space sustainability is a core tener of the brand and we'll incorporate this using the following practices the jump [2:51:49] will be ethically manufactured in the US using Factory partners that prioritize safe and fair working conditions and [2:51:55] environmental responsibility this will lower our carbon footprint by reducing overseas shipping and Air Freight accessory [2:52:03] production will be done using fabric off Cuts whenever possible to reduce waste [2:52:08] we'll take pre-orders on all new product launches to manufacture based on demand and prevent over over production and [2:52:14] optimize our cash flow we'll ship all products in compostable or recyclable [2:52:20] packaging to avoid single-use Plastics developing a whole new line [2:52:26] from scratch every season is not cost or labor effective I plan to design our house patents and then release them [2:52:33] seasonally in new prints and colorways this will increase our profit margin speed up our production cycle and allow [2:52:40] us to build a returning customer base because everyone I know who finds something that fits them perfectly will [2:52:45] build will buy it in multiple colors and prints the bulk of our paid marketing will be [2:52:50] through Instagram ads targeted at women age 30 to 50 in the US and Europe [2:52:56] influencer Partnerships and Tik Tok shop we'll also use a heavily segmented email marketing c campaign to retarget our [2:53:03] e-commerce visitors we'll use a skew rationalization process annually to [2:53:09] analyze which products are driving the bulk of our Revenue in both sales and profit margin and refine the product [2:53:15] line based on that data typically 20% of sales will be driving 80% of revenues in [2:53:21] an apparel business most fashioned designers are [2:53:27] creatives but they don't necessarily know how to scale a business I have a proven track record of 9 years as an [2:53:32] entrepreneur and know exactly how to deploy These funds if I win if I made a $100,000 shopping list our projections [2:53:39] show would be cash flow positive by the end of year too which is a good way to build a business but I look at hatch [2:53:45] Bloomington the same way I would if a venture capital IST were investing in my business where they would expect a 10x [2:53:51] return on their investment I plan to ensure that the jump is sustainable long after the competition ends and those [2:53:57] funds have been spent here's how I plan to amplify the partnership with the city of Bloomington and the Regional Chamber [2:54:04] through media coverage and speaking opportunities with my existing network of professional contacts I would ensure that the [2:54:11] Partnerships are mutually beneficial through a robust campaign of PR and Outreach that lasts years beyond the [2:54:16] competition I would leverage my existing group tours to London and Paris fashion weeks and [2:54:23] use those trips to capture content that would be used to promote the jump internationally data gathered on those [2:54:29] trips would be used to inform our International marketing strategy the time to build relationships [2:54:35] with Banks and ask for money is not when you run out of funds it's when you don't need it I've built a nine-year [2:54:41] relationship with small business bank and a 5-year relationship with thriving financial advisers I would plan to ask [2:54:48] for I would plan to apply for a business line of credit to proactively plan for the years after the hatch fun funds have [2:54:54] been spent this would give us access to usable Capital to increase our Runway [2:54:59] and form a cash flow safety net if needed this would allow us to scale up our production and negotiate more [2:55:06] favorable terms with our manufacturing Partners a solid financial plan outlines exactly how and when this credit would [2:55:12] be used to avoid unnecessary debt and plan milestones for the jump to scale I [2:55:18] plan to document my partnership with the Goldstein Museum of design through a year-long videography project with six [2:55:24] and 12 media that will be shared on on our channels and Pitch to news media to [2:55:29] build community among our target audience and create newsworthy content that can attract further interest in [2:55:35] investment my product is already priced to accommodate wholesale pricing which I want to strategically add to diversify [2:55:42] our revenue streams and build our national visibility in year two a portion of the funds would be used to H [2:55:48] are a flexible team of contractors in the areas of social media and email marketing and part-time sales and Retail [2:55:55] fulfillment at the retail showroom this allows us to be nimble while still growing the [2:56:00] business some of the funds would be allocated to building an userfriendly e-commerce site with custom custom [2:56:06] features that highlight our size inclusive approach like filtering images by model size so our customers can see [2:56:13] the jump on a body type similar to theirs I have three main competitors in [2:56:18] the jumpsuit space none of which currently offer all the benefits the jump plans to offer only one of them is [2:56:24] manufactured in the US which I think is a big Miss for the US economy and a chance to support skilled garment [2:56:30] workers domestically designing the jump in Bloomington would highlight the city as a regional Powerhouse and a place to [2:56:36] do Global business I'm the founder of Minneapolis [2:56:41] Craft Market Minneapolis Vintage Market I currently host about 120 retail events [2:56:47] per year focused on design design and sustainability I'm also the COO for the get down Coffee Company where I've [2:56:52] scaled a brand from launch into National Distribution through a Fortune 50 retailer I built a community of tens of [2:57:00] thousands of Shoppers which would be integral to a strong Regional launch before we expand nationally and [2:57:07] internationally as a lifelong artist and fashion lover and a proven entrepreneur [2:57:12] I believe I have the necessary skills and experience to build a size inclusive sustainable Global apparel brand [2:57:19] headquartered in Bloomington vote for me and let's make the [2:57:25] jump thank [2:57:30] you all right judges when you're ready quick question for you um I I'm I think [2:57:37] I might be familiar with this but maybe some other people aren't um if you if you were hearing from folks you know why [2:57:44] jumpsuits um they go in and out of fashion you know when you know certainly [2:57:50] they did for a while like they're back now but what will happen like what are your what is your plan to kind of um [2:57:57] either weather that you know flow or to Pivot if you decide that um there's some [2:58:03] other concept that you'd want to pursue say five years from now if that market [2:58:09] dries up or something happens and there's no trend for it anymore sure yeah I think um you know anyone in this [2:58:16] room could start a business with $100,000 right that's um that's kind of the easy part if you get the cash handed [2:58:22] to you right I think almost secondary to the product or service that any of us are pitching tonight is the founder I [2:58:30] believe that if anything has you know if I've learned anything over the past five years is that I might have to Pivot and [2:58:37] do something different to what I thought um when the pandemic hit I was the sole income for my family of four and my [2:58:44] business closed overnight and so I had a plan that was in the works to develop a [2:58:49] year-long uh e-commerce platform I was planning to take a year to do that really think it through and launch it [2:58:56] properly the pandemic hit my business closed overnight and I launched that product in six weeks instead I've never [2:59:02] built a tech platform before I've never used e-commerce before so I think that the adaptability of the founders [2:59:09] standing in front of you tonight is almost more important than the product or service because that will without a [2:59:15] doubt adapt and change Trends will change we might stop start offering more accessories and when we do this skew [2:59:21] rationalization if we find out that our customers actually are gravitating more to something else we will adapt that's [2:59:27] part of the beauty of being an entrepreneur and why I love working for [2:59:33] myself question have you calculated the cost especially the material cost the [2:59:38] reason why I'm asking that because two weeks ago I made a dresser shirt I I can [2:59:44] you know I'm a Sim dress too so I made a dress shirt it C cost me $45 for just the fabric alone so for a [2:59:52] jump shoot you're going to need about four yard about so uh $45 for the the [2:59:59] material alone and then cost me $15 for the button and I had to do it myself so [3:00:04] I didn't pay myself but here you're going to pay people at at least about $15 an hour 13 15 so that would come out [3:00:11] about what 6575 so you have to price your product around 1201 50 to be able to profitable [3:00:19] so have you looked at all that cost yeah so I'm actually working with a sewing company in Northeast Minneapolis called [3:00:25] Ana sewing uh we have a prototype underway that wasn't ready uh I'm not happy with it quite to show it yet um [3:00:32] but based on their figures um our cogs would be $50 per jumpsuit we would [3:00:37] retail for 1885 which would give us a 73% profit margin in the apparel industry you want to have at least 67% [3:00:44] profit margin if you plan to do wholesale which is something I want to implement in here too um given our size [3:00:51] range being more expanded we would require two grades of pattern which is basically two sets of patenting because [3:00:57] they are so vastly different from the extra small through the 5x um so our cogs were based on uh minimum order [3:01:04] quantity of 200 units per size grade so 400 units total for like the denim 400 [3:01:11] for the black 4 you know like that so that would give us a 73% profit margin [3:01:16] and then my estimate is to wholesale it for $90 to $100 that would give me a 45 [3:01:21] to 50% profit margin and our wholesale Partners would make 50 to [3:01:29] 55% um I'm just interested in uh so you're in research development phase right now so I'm just interested in what [3:01:35] kind of some new things you've learned in the research and development like have you heard anything from uh your [3:01:40] potential customers that you weren't expecting just give me some insight into how that's been going yeah so most of our research so far has been very [3:01:47] anecdote everybody that I've shared this with has been overwhelmingly super excited and the first thing they tell me [3:01:53] is you know what I hate about jumpsuits and I'm there with my little notebook taking notes of everything that they [3:01:59] tell me and there are a lot of those common themes of the fit issues because I think you know off the rack stuff is [3:02:05] just generally not made to fit most bodies you know um and I think that what [3:02:10] I'm planning to do is through the research project with the Goldstein Museum host these fitting events where [3:02:16] women can come through and get fitted and we'll use those as inperson opportunities to survey people get [3:02:22] really quantitive data and feedback and really understand what people are looking for and as we go through the [3:02:28] development phase I think I know what people want but I really want to rely on that data and that's going to be the [3:02:33] quantitive and the qualita qualitative will be equally as important [3:02:42] there other questions okay [3:02:48] thank you thank you all [3:02:54] right well thanks everyone that is it we have um you've heard all 10 pitches the [3:03:00] QR codes back up on the screen and on the board Now's the Time to vote you've heard all 10 judges thanks so much we'll [3:03:07] see you all tomorrow and those of you who are here and watching we appreciate your time um the next round of voting [3:03:13] voting goes through August 4th the top three will be announced I believe the date is October 6th and the finalist [3:03:20] will be picked at the end of August August 22nd August 6th sorry so we'll see you [3:03:28] all [3:03:46] then [3:04:16] e [3:04:46] e e