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Chair Loom

Chair Loom. Charmaigne Scott Hung Hoang. Executive Summary. Nothing can replace the human touch! SM First mover opportunity in the hair braiding industry . Helps African American female achieve desirable braiding results.

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Chair Loom

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  1. Chair Loom Charmaigne Scott Hung Hoang

  2. Executive Summary • Nothing can replace the human touch! SM • First mover opportunity in the hair braiding industry. • Helps African American female achieve desirable braiding results. • Helps recover damaged hair, eliminating over-tension and/or too tight braiding. • Provides a supportive and nurturing community of users through downloadable instructions, a braiding community chat board, membership in BWAG, affiliations and income opportunities.

  3. Product/Process • Product • The Chair Loom is a new invention that helps braiders braid synthetic hair efficiently off of the head. Does not require client’s presence. • Process • The user sits on the Chair Loom using her body as an anchor that allows the pre-loaded synthetic hair to be stretched and pulled with sufficient tension to create a braid.

  4. Statistics www.bombhair.com survey

  5. Statistics www.bombhair.com survey

  6. Statistics • The April 2000 issue of Happi.com African American consumers “account for 30% of all hair care purchases…“ • Darryl Mobley, co-founder and chief executive officer of www.beautyandsoul.com, an e-commerce site devoted to the sale of ethnic beauty products. “The population is rising and so is its purchasing power

  7. Statistics • “According to Information Re-sources Inc., Chicago, African-American hair care product sales comprised 83% of the $308.6 million ethnic personal care market, rising 1.9% to $257.3 million during the 52-week period ended Jan. 9, 2001.

  8. Statistics • www.Beautyandsoul.com ’s Mr. Mobley said that 50% of purchases made on his web site are from consumers outside of the U.S. “Women in the Caribbean, women in Africa, women all over the world are coming onto our site and saying they need these products,”

  9. Market Strategy • Occupies a specific niche (pre-braiding synthetic hair off the head) within the braiding market. • Affordability, ease of use & convenience. • Educate and train a loyal customer base. • Focus on organizing and building a social environment for Chair Loom users over the Internet-BWAG. • Outsource order and fulfillment. • Affiliation partnerships

  10. Industry Analysis • $308.6mil in ethnic personal care in 2000. (annual) • This is rising at 2% per year. • 83% of $308.6m goes to African hair care products.

  11. Market forecast Based on $308.6mil projected revenues in 2000 • Year 1 (.5%) market share = $1.54m • Year 2 (1%) market share = $3.08m • Year 3 (2%) market share = $6.16m

  12. Business Expenses Include website, manufacturing,marketing and shipping • Year 1 = $347,600 • Year 2 = $640,200 • Year 3 = $1,225,400

  13. SWOT Analysis (strength) • Eliminates over-tension that can pull out hair by the roots. • Prevents too tight braiding that can cause bleeding scalp syndrome. • Prevents stationary for long periods of time or to be present during the pre-braid process. • Chair Loom has received its patent pending.

  14. SWOT Analysis (weaknesses) • Chair Loom model currently available only in one size. • Lack of management, marketing and financing.

  15. SWOT Analysis (opportunities) • “An African-American woman is only comfortable buying a product that she feels has been designed with her needs in mind, even if that product is designed for the general population.” • In recent years, the ethnic hair care market has been transformed by a rash of acquisitions and mergers that are proof of the growing importance of the black consumer.

  16. SWOT Analysis (opportunities) • African-American population in the U.S. is growing in both size and spending power, ethnic hair care marketers recognize the importance of international markets too.

  17. SWOT Analysis (threats) • Chemicals process, breakdown and hair straightened have improved significantly. • According to “Information Re-sources Inc” chemical products were the biggest part of this segment with $81.6 million in sales of the $308.6 million ethnic personal care. • IGIA (Twist-A-Braid), Antita and Conair

  18. Barriers to Entry • Customer Behavior • Awareness of Product • Advertising

  19. Competitive Advantage • First to market. • Patent pending product. • Knowledge of industry.

  20. Strategic Plan • Marketing • Infomercials • Trade Shows • CRM implementation • Sales • International • Diversify • Strategic Partnerships

  21. Charmaigne Scott Founder and CEO Inventor of Chair Loom MS Management and Information Technology Sharolyn Marketing Braid Professional Denise Sales Coordinator Licensed Cosmetologist Shirelle Advertising Braid Professional Management Team

  22. Conclusion • First to market • First machine of its kind • Patent pending • Plans: • Establish BWAG e-community • Alternative to create healthy hair care • Nothing can replace the human touch! SM

  23. Chair Loom Video

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