2018 GK600 Business Pitches
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The GoKart 600 is one day for the entire staff of GoKart Labs to invent a viable product or business in 600 minutes. To do this, we rely on our established methods for innovation, condensing our process down to a single day of fearless exploration. This is all the 2018 business pitches that came out of the teams drawing an audience and a human need, want or desire out of hats the day of the event.
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2018 GK600 Business Pitches
- 1. LOVE THE GAME GOKART 600 2018
- 2. 2
- 3. 3 84% OPENLY GAY ACTIVE ATHLETES IN AMERICA’S FIVE MAJOR MEN’S PRO SPORTS LEAGUES 0 OF SPORTS PARTICIPANTS HAVE WITNESSED HOMOPHOBIA 78% BELIEVE YOUTH TEAM SPORTS IS NOT SAFE FOR GAY PEOPLE IN THE CLOSET83% OF GAY MEN AND 63% OF LESBIANS WHO PLAY ARE COMPLETELY OR PARTIALLY THE SITUATION IN U.S. SPORTS ISN’T SO GOLDEN.
- 4. 4 Andrew McIntosh thought about suicide so often as a college athlete that he had his own funeral played out in his head. Dying somehow seemed easier than telling his truth. “It was emotional chaos,” he tells USA TODAY Sports. “The perception, based on fear, tells you that coming out is worse than death.” This was in 2009, when McIntosh played lacrosse at Oneonta State in central New York. He remembers the day he heard a teammate utter a homophobic slur — that drill is so gay — that seemed all the more hurtful for its casual, offhand nature. Suddenly coach Dan Mahar stopped practice. He told his team, forcefully, that such language is unacceptable. It was a simple act that changed a life. And maybe saved one, too. "I was just doing my job," Mahar says.
- 5. 5 “The perception, based on fear, tells you that coming out is worse than death.” - Andrew McIntosh
- 7. 7 “…Suddenly coach Dan Mahar stopped practice. He told his team, forcefully, that such language is unacceptable. It was a simple act that changed a life. And maybe saved one, too. ‘I was just doing my job,’ Mahar says.”
- 8. 8 TO GIVE COACHES, TEAMS AND ALLIES THE TOOLS TO MAKE SPORTS SAFER AND MORE INCLUSIVE FOR LGBTQ THE OPPORTUNITY
- 9. 9
- 10. 10 For coaches and participants in organized sports, Love the Game is a training platform that drives measurable progress toward social acceptance and athletic achievement for LGBTQ youth. Unlike fragmented grassroots causes, it is powered by big brands, star athletes and expert content that can drive lasting change.
- 11. 11 THEN NOW
- 12. 12
- 13. 13
- 14. 14
- 15. SPONSORSHIP DOLLARS A BIGGER % OF $15B YOUTH SPORTS SPEND GOODWILL & BRAND LOYALTY SPEND COMMUNITY GOODW + HAPPY FAMILIES HEALTHY KIDS
- 16. 16 “My goal is very clear...which is that women run half our companies and countries and men run half our homes. As much as I wish that could happen in four years, I don't think that's a likely time period. But I think it can happen sooner than we think. Part of it is having that aspiration and that goal. I think we too often suffer from the tyranny of low expectations.” – Sheryl Sandberg
- 17. 17 PROJECTED COST & IMPACT 42M young athletes Assume 1 coach for every 15 athletes (avg across sports) Aud: 2.8M coaches Year 1: 500 communities 10 coaches/community = 5,000 coaches, 75,000 young athletes Y1 Operating Costs - $1.5M Digital Platform Design, Build, Support Content Creation by SMEs & TBK L+ Athlete Sponsorship Marketing
- 18. 18 INDUSTRY IMPACT ACHIEVE FAIR AND EQUAL REPRESENTATION FOR LGBTQ IN ALL SPORTS PROFESSIONS (i.e., match percent of U.S. populace)
- 19. 19 PUT LOVE THE GAME AT THE CENTER OF GOKART’S DIVERSITY EFFORTS. THE ASK
- 22. 1 in 4 for young adults aged 18-25 have used illegal drugs in the last 30 days Drug use is increasing in Americans over 50 years old by roughly 3% annually
- 23. MOST RECOVERY PROGRAMS END AT 30 DAYS. 40-50% OF ADDICTS RELAPSE WITHIN THE FIRST YEAR AFTER TREATMENT.
- 24. Adults and teens struggling with sobriety don’t always have the resources or support they need to stay sober and to find a path to lasting change.
- 25. There is a direct correlation between drug use and unemployment.
- 26. RECOVERY WORKS WHEN ADDICTS HAVE COMMUNITY AND PURPOSE.
- 27. HEALTHY OUTLET BOOMING INDUSTRYBUILT IN COMMUNITY THE CYCLING COMMUNITY IS VIBRANT, ACTIVE, AND GROWING.
- 29. WE EXIST TO HELP RECOVERING ADDICTS STAY SOBER THROUGH EDUCATION, INTERGENERATIONAL CONNECTION, AND A SHARED PASSION FOR BIKES.
- 30. LANE CHANGE PAIRS SOBER TEENS AND YOUNG ADULTS WITH SOBER BABY BOOMERS, BOTH OF WHOM SHARE A PASSION FOR BIKES. 6-Week Program 4 hours per week 3 Volunteer Instructors 10 Students (Ages 15-19) Space provided by participating bike shops Program Result: Job-Ready Certified Bike Mechanic
- 31. MENTOR MENTEE • HELPING OTHER ADDICTS • CONNECTION WITH COMMUNITY • LEVERAGING THEIR PASSION • FEEL SUPPORTED IN SAFE ENVIRONMENT • CONNECTION WITH COMMUNITY • TECHNICAL VOCATIONAL SKILLS INDUSTRY • SKILLED WORKFORCE • 60-80% TRAINING SAVINGS • BUILDS COMMUNITY GOODWILL
- 32. Lane Change also recognizes the employment gap in the United States, especially in technical positions. That’s why we help our members earn real life technical skills, equipping them for inspiring futures that capitalize on their passion.
- 33. All bike shops are in need of more mechanics. — They spend $500 on average to train them. — Lane Change delivers job-ready mechanics for $125 each.
- 34. 34
- 36. • BADGE NAME & CRITERIA • BADGE IMAGE • ISSUER & ISSUE DATE • RECIPIENT • EXPIRATION • EVIDENCE
- 37. TEST BRAKES
- 38. TEST BRAKES CHECK TIRE WEAR BRAKE ADJUSTMENT CLEAN & OIL DERAILLEU R CLEAN & LUBE CHAIN CHECK TIRE PRESSURE
- 40. BICYCLE SALES, SERVICE & REPAIR
- 41. AUTOMOBILE SERVICE & REPAIR SMALL ENGINE SERVICE & REPAIR BICYCLE SALES, SERVICE & REPAIR
- 42. Expansion to Five States (Minnesota, Oregon, Colorado, California, South Carolina) 25 Locations Per State 125 Total Locations Producing 6,250 Graduates Annually 80% Placement Rate = $500,000 in annual finder’s fees Matching grants drive another $500,000 annually -- totaling $1M annual revenue
- 46. TEAM BRAZIL 46 FOR NATIVE AMERICANS WHO WANT TO EAT BETTER
- 47. 47 “YOU ONLY HAVE THE MOST DIFFICULT MULTIFACTORIAL CHALLENGE ON EARTH. GOOD LUCK!” DR. ANGELA ERDRICH
- 48. 48 FOOD CHALLENGES FOR NATIVE AMERICANS 35% OF NATIVE CHILDREN ARE IMPOVERISHED 400% MORE LIKELY TO REPORT NOT HAVING ENOUGH TO EAT 42% OBESITY HIGHEST RISK OF TYPE-2 DIABETES
- 49. 49 GOVERNMENT ISN’T THE TOTAL ANSWER FEDERAL CORRECTIONS INDIAN HEALTH SERVICE $6,973 PER INMATE $1,297 PER PERSON
- 50. TEAM BRAZIL 50 WE WANT TO CREATE FOOD PROSPERITY
- 51. TEAM BRAZIL 51 AMPLIFY NATIVE PRODUCERS CREATE AWARENESS OF PRE-COLONIAL DIETS FUND REINVESTMENT IN NATIVE COMMUNITIES HMW
- 52. TEAM BRAZIL 52 PRODUCER • Ajei (A-he, means my heart) - Goes by Ali • 29 Years Old • Navajo • Single Mother • Lives Near Reservation in New Mexico • H.S Education • Maker / Dreamer • Full-Time Teacher / Makes $36K • Side Gig - Navajo Tea/ Green Thread - Cleansing Team - Calming and Purity • Lack of Distribution and Brand Awareness
- 53. TEAM BRAZIL 53 CUSTOMER • Katie (Kat) • Female • Lives in Brooklyn • Works at a Manhatten ad agency • 32 years old • No kids, but lives with partner • Makes $110K annually • Makes her own kambucha • Early adopter • Social influencer / large Insta following • Into eco-tourism • Into wellness trends and holistic health
- 54. TEAM BRAZIL 54 BUSINESS MODEL • B Corp • Minimum 51% Native Ownership • Share 50% of all profit with producers • Producers reinvest 10% of profit into local communities Price $39.95 Product Cost $12.00 Packaging $0.80 Inserts $0.55 Total Product Cost $13.35 Pick & Pack $1.00 Postage $5.50 Total Fulfillment Cost $6.50 Total COGS $19.85 Fees (cc, admin) $2.00 Gross Profit Per Box $18.10 Customer Acquisition Cost $8.00 Average Length of Subscription 12
- 55. TEAM BRAZIL 55 “SIMPLE AND WHOLESOME NATIVE INGREDIENTS LEAD TO BETTER HEALTH FOR ALL”
- 56. TEAM BRAZIL 56 • SIMPLE • NATURAL • WHOLESOME • ANCESTRAL
- 57. TEAM BRAZIL 57
- 58. TEAM BRAZIL 58
- 59. TEAM BRAZIL 59
- 60. TEAM BRAZIL 60 MARKETING AND SALES • PARTNER WITH SEED AND NATIVE HEALTH CONFERENCE • NATIVE AMERICAN ENTREPRENEURS FACEBOOK TARGETING • NATIVE AMERICAN BUSINESS ORGANIZATION AND ENTREPRENEUR PARTNERSHIPS • INSTAGRAM INFLUENCER CAMPAIGN • FASHION AND HEALTH SUBSCRIPTION BOX + HEALTH INTEREST FACEBOOK TARGETING
- 61. TEAM BRAZIL 61 ROADMAPSUBSCRIBERPRODUCER near next future MONTHLY SUBSCRIPTION BOX ENTREPRENEUR ÉDUCATION VR EXPERIENCE FOR DAY IN THE LIFE DIGITAL MARKETPLACE GRANT PROGRAM PROFIT SHARING ECO-TOURISM
- 62. TEAM BRAZIL 62 AMBER AMY DEVIN JAMIE TATESCOTTMATTHEWMARK OUR TEAM
- 63. TEAM BRAZIL 63 3 MONTHS $20,000 THE ASK • ACQUIRE SUBSCRIBERS • PROTOTYPE BOX • BUILDING PRODUCER RELATIONSHIPS
- 64. TEAM BRAZIL 64
- 66. TEAM FRANCE Passion/PROJECT Find your passion.
- 68. CompanyOverview 068 Passion Project helps mid-career professionals discover and pursue what makes them happy.
- 69. We believe that helping people find a passion project will help them be happier as individuals and more connected to their loved ones. OUR BELIEF
- 70. 070 Only 1 in 3 Americans are very happy. - The Harris Poll THE PROBLEM SURVEY PREFORMED 2002-2017
- 71. 071 Nearly 40% of Americans rarely engage in hobbies and pastimes they enjoy. - The Harris Poll THE PROBLEM SURVEY PREFORMED 2002-2017
- 72. Every day after work I go home – and a lot of friends feel this way – I work, I work out, and I go home. That's it. Life becomes boring, routine. It's not fulfilling. Meagan Riley, 38 MID-CAREER PROFESSIONALS ARE UNHAPPY 072
- 73. We help people find a passion, connecting them with real-life experiences and community that help them in their pursuit. OUR SOLUTION PASSION
- 74. /CREATIVITY
- 76. WE’RE NOT THE COMPETITION Masterclass Airbnb
- 77. 77 INPUTS • No paid employees • $50,000 marketing investment from founders • Minimum Viable Product - 1 region TESTING AND VALIDATION OUTPUTS • Proof of concept • Real Customers ($3/click, 10% interest; 15% of interested parties • buy) • Market Insights • Customer feedback • Model to prove Return on Investment
- 78. TheBusinessModel 78 We’ve assumed a 20% vendor fee on any experience booked. Looking ahead, we’ll explore a premium passion finding experience.
- 79. TheMarketingPlan 79 OUR TEST: WE’LL TAKE ON THE CHALLENGE OF A TWO-SIDED MARKET WITH A $50K SPEND FOCUSED ON ONE REGION, YEAR ONE: WE’LL TARGET 1 REGION AND CREATE 12 EXPERIENCES. MARKETING SPEND: $250K YEAR TWO: WE’LL TARGET 2 REGIONS AND CREATE 24 EXPERIENCES. MARKETING SPEND: $500K YEAR THREE: WE’LL TARGET 5 REGIONS AND CREATE 60 EXPERIENCES. MARKETING SPEND: $1MM
- 80. THE FINANCIAL MODEL 80 TEST YEAR 1 YEAR 2 YEAR 3 # of Regions 1 1 2 5 REVENUE B to B sign up fee 0 60,000 120,000 300,000 B to B 20% of experience fee 100,000 500,000 1,000,000 4,000,000 Total Revenue $100,000 $560,000 $1,120,000 $4,300,000 Hosting & Maintenance 240 120,000 180,000 240,000 Content Creation 100 24,000 48,000 120,000 Total COGS 340 144,000 228,000 360,000 Gross Margin $99,660 $416,000 $892,000 $3,940,000 100% 74% 80% 92% Personnel 0 200,000 450,000 600,000 Marketing 50,000 250,000 500,000 1,000,000 Facilities 0 5,000 5,000 5,000 Total SG&A 50,000 455,000 955,000 1,605,000 EBITDA $49,660 -$39,000 -$63,000 $2,335,000 Net Margin 50% -7% -6% 54%
- 82. OUR ASK We’re seeking $50k to validate our assumptions. 82
- 83. OUR ASK Or, we’re willing to sell the idea to The Big Know for $250k today. 83
- 84. TEAM FRANCE THANKS Find your passion.
- 87. 87 STRESS IS SO BAD FOR YOU SERIOUSLY. THESE ARE JUST THE MOST COMMON SYMPTOMS.
- 88. 88 WHAT CAUSES MAKERS STRESS?
- 89. 89 “The stress of finding the right type of customer is emotionally, creatively, and financially draining to me as a maker.”
- 90. 90 BUT THEIR BEST CUSTOMERS AREN’T EVEN LOOKING FOR THEM.
- 91. 91 “I would prefer to have handmade, locally crafted and lasting furniture but it seems difficult and expensive. I don’t want to buy disposable furniture but I don’t see an option within reach.”
- 92. 92 INTRODUCING
- 93. 93 FOR FIRST-TIME HOMEBUYERS SEEKING A LASTING, HANDMADE PIECE OF FURNITURE, WE HAVE CREATED A DIGITAL PLATFORM TO PUT EXACTLY WHAT THEY WANT WITHIN REACH.
- 94. FOR MAKERS 94 BUILDING A TWO SIDED MARKET FOR BUYERS Navigating the marketplace of great makers can be overwhelming, and they want to invest in something will make them happy for a lifetime. We will connect them to the maker that fits their buying style and their home aesthetic. They’re not passionate about or good at marketing, they thrive by making amazing furniture. We can be their marketing engine, connecting them to the right buyers at the right time.
- 95. 95
- 97. 97 THERE IS A MARKET .2M 2M 5M HOMES PURCHASED PER YEAR FIRST TIME HOME PURCHASES PER YEAR CUSTOM FURNITURE PURCHASERS
- 98. 98 THERE IS A MARKET .2M 2M 5M HOMES PURCHASED PER YEAR FIRST TIME HOME PURCHASES PER YEAR CUSTOM FURNITURE PURCHASERS $3.8 BILLION ADDRESSABLE MARKET SIZE
- 99. 99 THE TIME IS RIGHT Ecommerce home furnishing is growing 11% year over year. Home furnishing make up 12% of the total US Ecommerce sales. No other competitors are servicing both sides of the marketplace. Houzz Right now first time home ownership surged to its highest level in 17 years.
- 100. REVENUE MODEL: FIVE KEY PILLARS ACCESSORIES MARKETPLACE Marketplace on the site where artists can sell additional items from left over materials. PLATFORM FEES Subscription for makers to access the platform. OPPORTUNITY CREDITS Per opportunity for makers to have the option of submitting a quote to potential buyers. (i.e. “Thumbtack” model) SPONSORED CONTENT Ability for third parties to sponsor articles relevant to home design, custom furniture for first time buyers. AFFILIATE MARKETING Email advertising to registered users of the site, charged on a per click basis.
- 101. YEAR ONE: THREE PHASES OF DEVELOPMENT MARKETPLACE 1.0 - Room / space capture via phone - Product options & match-making - Customer service and messaging CONSUMER PREFERENCE PROFILE - Consumer preference / assessment to build profile - Validate product/ market fit MARKETPLACE 2.0 - VR & AR intake - Consult with an expert - Delivery & insurance services - Re-engagement recommendation
- 102. REGISTERED USERS* 23,000 ANUAL USER-BASED REVENUE $188 ANNUAL USER-BASED REVENUE $4.3MM REVENUE REGISTERED USERS* 23,000 CUSTOMER ACQUISITION COST $31 ANNUAL USER-BASED COST $713KYEARLY COSTS PHASE 1 $4K PHASE 2 $250K PHASE 3 $1MPRODUCT DEVELOPMENT COSTS
- 103. WHAT’S GREAT FOR FURNITURE MAKERS COULD ALSO BE GREAT FOR . . . JEWELRY DESIGNERS CLOTHING DESIGNERS BASICALLY ANYONE WHO MAKES STUFF
- 105. APPENDIX 105
- 106. EXPLORE CUSTOMIZE PREFERENCES AND CRITERIA COLLABORATE PURCHASE CELEBRATE CAPABILITY / FEATURE ROADMAP PHASE 2 PHASE 1 PHASE 3 PRODUCT TILES AND FORM INPUT ROOM/SPACE CAPTURE PRODUCT OPTIONS, DETAILS, MAKER DETAILS TRANSACTION SERVICES CUSTOMER SERVICE: MESSAGING RATE & REVIEW LOG IN, PROFILE MAKER MARKETING CAPABILITIES CONSUMER TREND ANALYTICS VR / AR INTAKE CONSULT WITH AN EXPERT AR PRODUCT PLACEMENT IN ROOM MAKER SHOWROOM BILLING AND FINANCING SUPPORT CUSTOM TRANSACTION SERVICE DELIVERY & INSURANCE SERVICES SOCIAL CRED RE-ENGAGEMENT RECOMMENDATIONS
- 107. 107 WE’LL VALIDATE MAKER + CONSUMER DEMAND BY TESTING IN 2-3 MARKETS TO START PHASE 3 | GO-TO-MARKET PLAN
- 108. 108 GO-TO-MARKET | RECRUIT MAKERS In each market, we’ll identify and recruit 25-50 makers to feature on MVP Local events: • Community art events • Artist associations • Workshops • Farmer’s markets Online/Print: • Paid social • Direct mail • Facebook groups Find local makers through:
- 109. 109 PHASE 1: WE’LL VALIDATE CONSUMER DEMAND BY TESTING IN MARKET
- 110. WHAT DO WE WANT TO LEARN? ARE BUYERS INTERESTED IN USING HENDE? ARE BUYERS WILLING TO PROVIDE THEIR CONTACT INFO? WILL BUYERS ENGAGE WITH OUR PREFERENCE QUIZ? DO CONSUMERS FIND VALUE IN THEIR HENDE PREFERENCE PROFILE? METRICS ENGAGEMENT RATE # OF COMPLETE SIGN-UPS QUIZ COMPLETION RATE # OF SHARES, PDF DOWNLOADS, # OF BETA SIGN UPS