Naked Sofa? Phase Two of Business Plan

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Listing Information
Amount: $5,000.00 Status: Loan created
Grade: A DTI: 19%
Lender Rate: 9% Borrower: Wadenx
Time Left: Finished State: CA
Funded: 100% Group: Bay Area Entrepreneurs
Loan Information
Loan Status: Paid Origination Date: 2006-11-13 EricsCC ROI: 9%
Status History
Nov 11, 2006 Current
Apr 09, 2008 Payoff in progress
Apr 12, 2008 Paid
Naked Sofa? is a furniture design and marketing company seeking funds to initiate our production and distribution phase. We are nearly complete with phase one, the groundwork for launching a unique venture, which was to design the world?s most perfect sofa, We need your help to finance this next stage; phase two. As veterans of the furniture design and architecture design professions, as well as branding and marketing backgrounds, we are uniquely qualified to venture into the launch a sofa company that is lifestyle focused; a company and product with a unique brand position. With all of our attention on a single sofa design, the quality of design and production details can be paramount and our reputation will be built around our one sofa design that is completely customizable to suit any personal style and expression. The idea of customization in furniture is not new, but Naked Sofa?s? innovations take it to a completely different level. Similar to customizing BMW?s Mini Cooper or Toyota?s Scion, the customer starts with a "naked" sofa and builds it online, just the way they want it, adding our available features to suit their tastes. Fabrics can be different on the arms, back, and seat of the sofa. While slipcovers have been used in the past, Naked Sofa has developed a revolutionarly easy way to change the fabrics on your custom sofa well after purchase. Phase two of our business growth is focused on the development of our production and distribution plan as well as a few marketing initiatives. We want to secure the relationships needed for our planned manufacturing process. We are presently seeking manufacturer and distribution vendors to execute our design concept; companies that will work within our unique strategy of simply being a brand and market savvy web-based furniture company with no intention to manufacturer. In fact, the business strategy of placing the burden of manufacturing on an outside source is a critical feature of the venture and how we intend to be profitable with a low investment overhead. Our internal strengths are unmatchable design smarts and innovative viral marketing, not production. Will need smart outside sources for that. Here are our important next steps: Phase One (not part of this financial request) Finalize the perfect sofa design. A new classic. An instant icon. Initial designs focused on the overall beauty of the piece, plush comfort and function, and customizable aspects. We now need to work with a manufacturer to make sure the ideas are executable. Phase Two Establish a contractual relationship with a sofa manufacturer. We have our list of manufacturers who have expressed an interest and ability to execute our plan. It is now time to meet with them face-to-face to discuss our options on production and distribution, and delve into contractual negotiations and prototyping. Establish the brand positioning and standards. As a lifestyle brand, positioning helps us to understand who we are and what our customers are going to love about our sofas. Creating brand standards and marketing materials also gives our potential manufacturers a solid sense of the brand message and position. Create a concept website to demonstrate how consumers will be able to design and purchase on the web. We will design an exciting, easy to use site where consumers can view, build, and save their sofa design and its details. This initial website design will also demonstrate the brand?s voice. Identify how we can expose potential customers to the superior design and quality of the product. Given that we will not have a brick-and-mortar storefront, we are faced with the challenge of finding a way to allow customers to see, feel, and use our product. We have some preliminary plans that include unconventional ways (and locations) in mind to showoff the sofa, and the next step is to look into the feasibility of these concepts and hopefully conjure up some more. 
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