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Why?
Virtual Closet: A Digital Version of an Existing
Physical Closet
Shop My Closet is the Virtual Closet Hub
• Access to your closet at any time for any number of uses
• Share with friends and connect with users with similar tastes
• Have fun while keeping your physical closet organized
• Save $ (and the environment) by re-using and re-selling clothing
Shop My Closet Team
Founder: Jessie BrodskyI want to work with
YOU to build the best possible team of:
• Developers• Advisors • Social Media Experts• Fashion Experts• Virtual Closet Creators
Statistic:On Average, at least 1 Blogger per day posts about “Shopping her (or his) Closet”
Fashion BloggersCollege Students
Anyone with and Overflowing Closet!
Women on the GoMothers
Difficult SizesTweens Fashionistas
Shopaholics
High School Students
Style Icons
Models
New Job
Moving
Retail WorkersCelebrities
Travelers
Target Markets
Shop My Closet: The Virtual Closet HubSo What is Shop My Closet?
And What is a Virtual Closet Hub?
Shop My Closet is a Virtual Closet based, Game-like, Social Network
A fun, easy way to get your Closet in order. • Earn Points for Uploading, Organizing and
Sharing Your Virtual Closet.• Redeem Points for Coupons, Discounts,
Giveaways and more!• Connect to Your Favorite Applications to
Get the Most Out of Your Virtual Closet.
Great choice!Oh! What about this?Let’s consult the Virtual Closet…
AS IF! Not that!What to wear?Here we are…Perfect
Virtual Closets: Then to Now
1995
The unobtainable Virtual Closet owned by Cher, the main character in the movie Clueless
Closet Shops on ebayClozette.coCloset Shops on GoodsieChictopiaFashion BlogsyoulookfabhipswapPlave: Fashion ForumShop My Closet Party99dresses123dressme
CopiousPolyvoreCloset Shops on PoshmarkPoshmarkStyliticsThreadflipToday
Virtual Closets: Then to Now
There are currently a number of Virtual Closet based Applications, Websites and Businesses
Too Many Virtual Closets?
With All These Virtual Closet Applications, Who Needs Another?
• Few to no Virtual Closet based Applications are compatible with others.
• One must re-upload their closet to each individual Application.
• Each individual Application has a limited number of uses.
The Goal for Shop My Closet is to connect with as many relevant
Applications, Websites and Businesses as possible in order to give users
access to every possible use for their Virtual Closet.
A “Freemium” Business Model
Shop My Closet will be offered as a free
serviceShop My Closet will also offer paid and premium versions
Shop My Closet will also offer closet organization services which include having your closet uploaded to the site
An Alpha Version will be shared with 50 Fashion Bloggers in
exchange for their feedback. Users will be given an
invitation code for 1 friend who will test the Beta Version
with them.Premium Services will be added to the site beginning
during Beta Testing
Upon launching another paid version will be offered with fewer incentives for a much lower price.
By working with relevant applications, websites and bloggers, Shop My Closet will receive a good deal of
press.Advertising Campaign every year in September Issue of
Fashion Magazines.
My Barriers to Entry
$ & Software and Web
Development SkillsAlthough I did try to teach myself html and
other skills I lack before deciding to go back to school to learn how to start a business.
A Projected Financial Overview
2013 2014 2015 2016 2017 $-
$100,000,000 $200,000,000 $300,000,000 $400,000,000 $500,000,000
Revenue
Members2013 2014 2015 2016 2017
Free 501,250
2,639,678 9,350,983 30,413,931 96,518,484 Paid 51,250 158,171 493,737 1,546,884 4,852,112
Premiu
m 5,200 15,892 49,449 154,763 485,286
A Projected Financial Overview: Year 1Jan-13 xFeb-13 Mar-13 Apr-13 May-13 Jun-13 Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 2013
Revenue
Advertising - - 90 90 180 630 1,080 2,790 429,300 189,900 189,900 189,900
1,003,860 Sales
Paid Membership - - - - - 2,500 5,000 5,000 350,000 50,000 50,000 50,000 512,500 Premium Membership - - - - 500 500 500 500 35,000 5,000 5,000 5,000 52,000
% of Marketplace Sales - - - 13 25 88 150 388 59,625 26,375 26,375 26,375 139,413 Other Sales - - - 25 50 175 300 775 119,250 52,750 52,750 52,750 278,825
Services
Closet Organization Services - - 100 100 200 700 1,200 3,100 477,000 211,000 211,000 211,000
1,115,400
Premium Closet Organization Services - - - - 500 3,000 5,500 5,500 385,000 55,000 55,000 55,000 564,500
Total Revenue - - 190 228 1,455 7,593 13,730 18,053 1,855,175 590,025 590,025 590,025
3,666,498 Cost of Services
Server Space 10 10 10 100 100 100 200 200 200 500 500 500 2,430 Development Costs
Contracted Developer 5,000 5,000 5,000 5,000 5,000 5,000 - - - - - - 30,000 Technology 5,000 200 200 200 1,000 200 200 200 200 200 200 200 8,000
Closet Organization Costs Contractors - - - - - - - - 10,000 5,000 5,000 5,000 25,000
Expenses (including travel) - - 250 250 500 500 1,000 1,000 10,000 5,000 5,000 5,000 28,500 Total COS 10,010 5,210 5,460 5,550 6,600 5,800 1,400 1,400 20,400 10,700 10,700 10,700 93,930
Gross Margin (10,010) (5,210) (5,270) (5,323) (5,145) 1,793 12,330 16,653 1,834,775 579,325 579,325 579,325
3,572,568 Operating Expenses
Advertising - - - 250 5,000 1,000 1,000 1,000 5,000 1,000 1,000 1,000 16,250 Rent - - 1,100 1,100 1,100 1,100 1,100 1,100 2,500 2,500 2,500 2,500 16,600
Insurance 100 100 100 100 250 250 250 250 500 500 500 500 3,400 Telephone 1,000 150 200 200 250 250 250 250 350 350 350 350 3,950
Wages 8,333 12,500 16,667 16,667 20,833 20,833 20,833 20,833 29,167 29,167 29,167 29,167 254,167 Benefits 2,083 3,125 4,167 4,167 5,208 5,208 5,208 5,208 7,292 7,292 7,292 7,292 63,542
Professional Fees 500 500 500 500 500 500 500 500 500 500 500 500 6,000 Other Expenses 5,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 5,000 1,000 1,000 5,000 24,000
Total Operating Expense 17,017 17,375 23,733 23,983 34,142 30,142 30,142 30,142 50,308 42,308 42,308 46,308 387,908
Net Income (27,027) (22,585) (29,003) (29,306) (39,287) (28,349) (17,812) (13,489) 1,784,467 537,017 537,017 533,017
3,184,659
Use of ProceedsShop My Closet will participate in the 1% foundation as well as a
number of other charitiesThe Majority of Proceeds will go
towards research and development to make Shop My Closet the answer to
every girl’s Virtual Closet dreams
