Hey All,
I'm applying for a startup workshop, and they asked me to give an elevator pitch for a company I'd like to start. Will you guys give me some feedback on mine? It's for a company that rents out baby clothes by mail (kind of like netflix but for clothes). Let me know what you think, any suggestions for improvement would be greatly appreciated.
Baby clothes can be a difficult expense for parents, especially since young families are typically not affluent. After a few months of use, perfectly good baby clothes are outgrown are no longer usable. While hand-me-downs are possible with younger siblings, baby clothes are typically only used for a fraction of their useful life, representing a loss of money for new parents
To solve this problem, I would like to start a company that rents out baby clothes to parents. Customers would subscribe online, and pay a monthly fee for the service. Once signed up, the company mails them a certain number of clothes to “check out” at a time, as well as a return shipping package (similar to Netflix). When the child outgrows their current set of clothes, they can be returned and swapped for larger sizes. Clothes could then be reused and sent to the next family. Software would automatically bill customers every month, as well as email reminders about returning clothes and managing the service.
This service offers many benefits over the current system of purchasing new clothes. It saves money for families that spend $495 on average/year spent on infant clothing currently. It also prevents storage issues and clutter, as clothes are returned when no longer needed. Finally, there are environmental benefits, as a single piece of clothing is used longer, and there is less waste. Because of the benefits it provides, I have a lot of confidence in this idea, and hope you are interested in pursuing it further.