About the company

Location: boston, Massachusetts 02115, United States flags/United States.gif
Founded in: 2009
Stage: 1.0 (formal launch)
Number of employees: 1-5
Completed funding: Self-Funded
Profitable year: already profitable
Investor names: Eric Yohay
Short URL: http://vator.tv/c/c79
Profile creation: September 14, 2008
Last updated: November 16, 2009

Categories

Business to Consumer, Internet Web 2.0, Lifestyle and Travel, Online Retail

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Tags

design, competition, fashion, limited, edition, t, shirts, shirt, clothing, art, artists, numbered, bamboo, green, environmentally, friendly, Social

Finroo

Swim against the tide
Startup/business
flags/United States.gif Massachusetts, United States
http://www.finroo.com

Finroo is a high-end apparel company enabling fashion conscious consumers to purchase limited edition clothing designed by a worldwide network of graphic artists.  Our online platform gives consumers access to thousands of designs and enables artists to increase visibility and sell their work as wearable art.

 

The custom online apparel market is in its early stage with little differentiation between competitors.  With Finroo’s limited edition branding, high quality products and top tier artists, customers will see no reason to spend their money elsewhere.  Recognizing the importance of branding and buzz, Finroo has already demonstrated its appeal to influence leaders in its target market with articles in internet publications like Thrillist (300K monthly hits), Clothingwire and T shirt Magazine (8k monthly hits each).  Our first product is a limited edition Bamboo shirt which has its actual number of print inside the shirt.

 

 

 

 

Business model

Finroo allows artists to upload artwork for consumers to purchase.  Once a consumer purchases a product, a $4 commission is given to the artists, $1 is written off to the charity and the remainder is our profit minus our COGS.  All products are made to order and we print on demand.

 

Our go to market strategy has been targeting two groups, artists and consumers.  Artists are given all the tools for self promotion and consumers are targeted through:

 

1) Blog/PR/newsletters buzz – Finroo has seen a positive ROI in any newsletter mention and positive traffic and sales from blog referrals.  We are currently contacting Bloggers to work in paid advertising and contest sponsoring.

 

2)  Affiliate resellers – Finroo has seen a spike in traffic as we use our affiliate program.  Incentives and tools are in place to make this a profitable sales arm.

 

3)  Artists self promotion – In addition to purse amount given to artists as a form of compensation, we update and educate our talent pool weekly.

 

4)  Accessing targeted demographics through the use of collaborations and promotions – By creating targeted co-marketed events, we have seen an influx of users as well as sales.

 

 

 

Competitive advantage

Today’s custom online apparel market can be broken into two categories, Category Killers and Ongoing design competitions.


 Category Killers – CafePress, zazzle, redbubble, spreadshirt.  These companies use new printing technologies to be able to print on demand but by allowing all categories and artist levels and lacking social collaboration, consumers have to go through countless pages to find something they would purchase.
                                                          
Ongoing design competitions – Threadless, Popdeck, desired hearts, design by humans.  These companies almost always sell out of their top products but by only utilizing the top 1% they miss 99% of their user submissions.
 
Finroo is different
By combining the printing technologies of the category killers and social media display system of the ongoing design competition plus an incentive model for selling out SKUs, Finroo capitalizes on the best of both worlds.  This provides an immense value for our artists (inputs) and customers (outputs) resulting in one thing:  profits

 

 

Management Bio

Eric Yohay, President - Prior to Finroo, Eric launched Orecovery an asset recovery management company specializing in assisting distribution companies with their stressed assets.  It is there where he worked on “getting product paid for and shipped” as well as learning and testing the fundamentals of e-commerce.

 

Christopher Curwen, Director of Artist relations - Blake Curwen has an award winning business development background, with additional experience as a consultant and project manager. He has worked in telecom, logistic, and medical devices, and plans to become an E-commerce guru... All in due time.

 

Kevin Sandhu, Head Operations Manager - Kevin is a recent MBA graduate from Babson College, who has strong skills in marketing, sales and operations. He believes his skill set and interest in urban fashion combined with Finroo’s offerings will lead to success.

 

IP and defensibility

Our technology is embedded in the structure and design of our website.  We give users an unmatched user experience, optimized through an open feedback loop during our beta launch.  Automatically updating itself every hour, our real-time ranking system organizes each item by hits, votes, and purchases (with the highest in purchases), and the higher you are ranked in all three categories the better exposure on the site you are given.  This crowd sourcing methodology will give the absolute best products the exposure they deserve.  It will weed out bad products and because everything is on a limited edition basis, the lists will always refresh itself.  Buyers won’t have to search for products that are masterpieces; they have everything right at their buying fingertips.  

                                                        

Finroo brands its products with two distinctive features.  All products are of high quality merchandise, and every product that leaves our company will be labeled with the actual number in its limited edition cycle.  We protect this brand through touch (the feel of our products), sight (the quality of our designs), and sound (the noise we make through the efforts of all interested parties {Our worldwide network of artists, members, and team})

 

US traffic of Finroo

US traffic of www.finroo.com
 
The number of people visiting a site.
Compete ranks the top one million websites in the U.S. based on the number of People the domain attracts each month.
The number of visits made to a site. A person can only be counted as one person in a month, but can make multiple site visits.
The total time spent on a domain as a percentage of the total time spent online by all U.S. internet users.
The number of minutes an average visitor spends on a site during each visit.
The number of pages an average person views on each visit to a domain.

Worldwide traffic of Finroo

Worldwide traffic for the website www.finroo.com

Feedback and testimonials


  • Ronnie Habibian October 30, 2009
    My finroo T-shirts are easily the best t-shirts I own. Not only are they the most affordable given the material that the artwork is printed on, they are by far the most comforable and the only t-shirts that get hung up in my closet. I get endless compliments every time I wear my finroo t-shirts on the quality, artwork and most importantly, the idea of Finroo as a company.
10 ratings | 1 testimonial | 19 followers | 2082 views
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