MyPerfumesForLess.com ("MPFL" and/or "the Business") offers designer fragrances at wholesale prices without the customer having to purchase in wholesale quantities. Our goal is to become the largest online fragrance discount retailer specializing in all genuine designer fragrances for men, women and children. Unlike other fragrance sites that cater various other scented products such as candles, stationary, etc., we simply focus on our core competency - 100% GENUINE DESIGNER FRAGRANCES.
Our team provides our customers with personalized advice for their needs, as well as up-to-date information on hot items, best bargains and recent trends in popular fragrances. The Business operates with three key principles in mind; service, selection and guaranteed low prices.
Our customers are individuals like you and I who are looking to get the best deal possible on the fragrances they wear, as well as retailers who seek to purchase designer fragrances in wholesale at a very low cost, thus allowing them to resale with high margins.
The management of MPFL consists of co-owners "Owner 1" and "Owner 2". "Owner 1" is a graduate of the world-renown
Currently, the Business holds 1,270 organic links on google.com, has over 25 press-releases online, is being talked about in at least 15 bulletins and discussion boards, has 683 subscribers to the bi-monthly newsletter and is generating over 26,000 hits per month (fact references attached).
Based on the size of our market and our defined market area, our sales projections for the first year under funding are $2.3M (see attached projections from Pure Visibility - an industry expert firm that provides Search Engine Optimization, Search Engine Marketing and Pay Per Click services that helped Wellington Fragrances get on the first page of Google.com in just one year). The co-owners are willing to work for an annual salary of only $18,000 each.
Succeeding by getting to the top is not a question in our mind. The question on hand is how long will the process take? We are seeking an operating line of $120,000 to boost our first year growth under funding. Together, the co-owners have invested in the portal`s dynamic and flexible infrastructure (see attached guidelines on site design and development), secured hosting, multiple domains that route customers to the main portal, security software and other web-site components for a long term, as well as the funding necessary to maintain operating working capital.
Already we have service commitments from tier-one distributors that hold over 1,000 different products from 190 different designer manufacturers. We plan to aggressively build our client base through search engine optimization, pay per click strategies and various other forms of search engine marketing and online advertising. The unprecedented pricing MPFL offers is sure to appeal to the masses throughout the country and quickly lead the way for the portal into the future as the number one fragrance e-tailer. We challenge you today to find us even one establishment, whether online or on the ground that can beat our prices!
Big Four stands for the four biggest players in the public accounting industry, PwC, D&T, E&Y and KPMG with PricewaterhouseCoopers, LLP being the biggest global professional service firm. This used to be the Big 8 but many folded (Anderson/Enron case being the most recent as you would remember)
Hope that helps
The compliment is most appreciated. The goal is two-part...first being to raise the minimal funding necessary. If we do not get the funds then we should have that saved up in a year or so. Success is definitive, just trying to expedite it here.
The second is to provide a sampler summary as I have personally seen so many I would not consider looking at as an investor. A template if you will touching on the important points that any investor would want a synopsis on.
As far as the competitive advantage, believe me, many have searched for hours (I did myself in the 15 months of planning prior to launching) and no one does have this pricing structure. I know that "best" is something even search engines like google stay away from but then again it is. What would be your suggestion in how to get the point across to your investor without giving the slippery slope connotation attached with the phrase "best pricing"?
Would love to hear everyone`s thoughts on this....
thanks for the comments. you know what I just thought about this now...since the community here is so insightful and helpful...I will grant free memberships to community members that sign up on the site to become customers. I tell ya what - sign up and I will activate your membership - Just give me a hint that it is you.
A lot of times customers request products they do not see and over half the times we are able to locate it for them. Make sure you use this "request" function if you do not see something you like.
Appreciate the thoughts. The #1 advantage is in fact that these prices will not be met elsewhere. Our "regular" prices are very competitive as it is. Would you say the 39 is too much? or the mmship concept all together is impeding in general? We have gone back and forth with this one and not sure the direction we want to commit to. As we stand, our membership conversion is 10% (one in 10 customers becomes a member). Members later email us and tell us that they use the site to shop for personal items, presents for all ocassions, etc. therefore it makes the price worth it. We also have numerous small retailers that buy a lot regularly in bulk...we send a lot of them shipping rebates and other small tokens of surprises in the mail (all unannounced).
The other thing is our selection. There are over 1000 products on the site (and counting fast). The industry is such that it is difficult for every vendor to have everything. For the most part we do a good job in getting our loyal customers what they are looking for (our strategic placement allows us to explore the market first hand and get the product wanted - see our "request it" link).
As explained in our site as to how we are able to offer these prices, we charge a mmship of 39 annually (like Sam`s club concept) in return for shipping unlimited quantities of any product at our cost. We are pretty much saying, give us your loyalty and we will do the work for you for free. Those that do not want to purchase the mmship are also more than welcome to purchase at very competitive "regular" prices.
Please continue the dialogue - we appreciate all of this.
eGuru...I want to make sure I have it right...is your competitive advantage based on "best" pricing only? Or are there other advantages? I see that Stonesledge found a perfume on your site that she couldn`t find anywhere else. Might the fact that you can find offerings on your site that are hard to find anywhere else also be part of your competitive advantage??
Do you gain the ability to do best pricing by requiring the membership fee of $39? If so, I`m not sure I love that. Could be seen as a major impediment to a lot of customers. Hmmmm...let me ponder that one....