Stage: Napkin (idea)
Number of employees: 1-5
Short URL: vator.co/zygger-inc
Zygger, Inc. is co-founded by Suzanne Donivan & Gabrielle Ridgeway. Together they invented a new sporty cargo cart called the Zygger, that is the perfect solution for transporting your STUFF and staying active. It’s a fun, cool, 3-wheel push cart that is lightweight and foldable, with reliable brakes and responsive steering. Zygger is Ergonomically designed & constructed to transport assorted cargo, even small pets, and can be used by both genders from ages 13 and up. Zygger will adapt to multiple sports and activities: you can walk, run, roller blade, and even skateboard with Zygger. Its the perfect solution for Urban dwellers who don’t drive! Now they can ease the strain on their backs and still look HIP! Zygger is truly a new market niche, creating an industry of "Sports Carts" that has a customer potential of 200 million in the U.S. and worldwide.
We will manufacture and distribute Zyggers worldwide. With a line of descendant products and accessories that will create multiple streams of revenue, we project a profitable outcome at the completion of our exit strategy in 4-5 years. These products will be distributed through wholesale, retail, and internet markets using the various marketing tools available today through all media systems and PR resources. With an aggressive branding campaign, we intend to create a new market niche while focusing on customer needs and profit margins.
At a price point of $299-350, we plan to average $170 per unit sale with a 62% gross margin. With a marketing budget of 40-60% of revenue, we intend to hyper grow our U.S & international market base and sell 1.3 million units our first five years. These projections are based on similar new product launches. Adding additional extensions in years 2 and 3, plus accessories, will help meet target sales estimates. With 5 million invested, this will potentially create a 60% IRR and reward investors with 10X investment return on EBITDA alone.
Zygger’s main competitors are the pull style baskets, pet joggers, and medical walkers. An indirect competitor is baby joggers, as the popularity of this market clearly demonstrates that people are willing to combine exercise with pushing cargo. Unlike our competitors, Zygger is a multi-use product that combines with various athletic activities while assisting the transportation of assorted cargo, excluding babies and children. Its sturdy, ergonomic, & maneuverable design makes it a superior choice for extended use, unlike the flimsy pull carts available today. The pet joggers on the market are limited by style and not designed for multiple uses. And Zygger is the FIRST stylish & youthful walker-substitute for the active aging and image conscious, with superior performance and strength. Its unique style and fun look will appeal to many ages, especially the Gen-Xrs.