Joe WilkinsonProduct Management

General Assembly: Final Presentation

Goals

Midway Presentati

on12/10/2013

Final Presentati

on2/3/2014

What’s been done

What’s in the works

2

Value Proposition

Definition: “Workout, without bruising. Specially designed apparel with padding”

Need: Using certain pieces of equipment such as barbells and/or Kettlebells for weight training has an inherit risk; the impact of those pieces of equipment on certain areas of the body can cause severe bruising.

3

Value Proposition

Benefit: The apparel has specially designed padding that is attached to the shirt in areas of the body prone to bruising. The padding absorbs the impact and protects that particular area of the body.

4

Porter’s 5 Forces

Threat of New Entrants High

• WilkWear is providing padded fitness apparel, which currently doesn’t exist in the market, for weight lifters

• Under Armour already produces, and sells similar padded athletic apparel for football, hockey, rugby, and lacrosse players.

Bargaining Power of Suppliers

Medium – High• Supplier could delay shipments, go out of business, and provide shirts that do not meet quality standards

Threat of Substitutes Low• Currently, there are no products on the market

Bargaining Power of Buyers

Low

• Since there are no other substitute products on the market, WilkWear can essentially develop and set a reasonable price

Degree of RivalryLow – Medium –

High

• Currently, the degree of rivalry is low because there are no other products on the market

• Competitors can emerge with similar products

Market & Opportunity Assessment

5

Market & Opportunity Assessment

Market Size

Date Facts* Assumption Market Size

End of 2013

1) As of the end of 2012, there were 3500 CrossFit gyms 1) Each gym has 300 active

members 1,930,0001) 50 CrossFit gyms open

weekly

End of 2017

1) 30,000 gyms in US1) Each gym has 300 active

members 9,250,000

*Source: http://myathleticlife.com/2012/02/crossfit-worth-500-million/

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Market Research Takeaways

Porter’s 5 Forces

1) Overall, medium risk involved

2) Goal is to be first to market

Market Size 1) Market is currently growing

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Business Model

Key PartnersSquarespace: all aspects of ecommerce website

DongGuan Jiejin Security Protection Equipment: Manufacturer of products

FedEx: Shipping

Facebook: Digital Marketing

Lawyer

Key ActivitiesOrder OnlinePayment ProcessingShipping & DeliveryManufacturing of productStorage of productsMarketing

Value Propositions“Workout without bruising. Specially designed apparel with padding”

Key Word(s):PerformanceCustomizationProtectionWeight LiftingConvenientEasy to Use

Customer RelationshipsFAQ Section on websiteEmailFacebook

Customer SegmentsMarket Dimensions: Growing Niche Market – Weight Lifters (i.e. CrossFit)

Execution: Customer Testimony (i.e. positive reviews) from users who use the products and are happy with the results

Key ResourcesEcommerce Website: handle order and payment processing

Intellectual Property: Patent for some productsTrademark for logo & name

Distribution: shipping

Manufacturing

ChannelsWebsite Email Social Media: Facebook, Twitter Blogs & Forums

Cost StructureManufacturing of ProductsShipping products to customerWebsite Maintenance: design, payment processing etc…Digital Marketing

Revenue StreamCustomer buying a product through the online ecommerce websiteAds

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User Research & Demo

Background

CrossFitting Since: 2011 Attendance: 3-5 Times Per Week Age: 25 – 30 Sex: Male Annual Income: ~$60,000

Devices

iPhone Work Desktop Personal Laptop

Other Tools or Sites Used

Crossfit.com Facebook CrossFitJerseyCity.org

Day In The Life: At The Gym

A week before the day of class, I will register for the class either by my cell phone or using a desktop or laptop

The “Workout of the Day” is posted daily so I will check CrossFitJerseyCity.org to see the workout

Pending on the movements included in the workout will determine which gear I will use for the workout

If the workout incorporates an Olympic Movement I will use my Olympic Lifting Shoes. If the workout involves running, I will wear my Reebok Nanos.

Post workout, if any bruising results from the workout, there is very little I can do to stop the bruising.

If calluses form on my hands, I will tend to them by cleaning and then removing the dead skin

Goals

I really enjoy CrossFit and I would like to get an amazing, kickass workout without the repetitive bruising that occurs so frequently on the clavicle, thighs, forearms, or calves as a result of certain movements during the workout

Current Pain Points

The tawny bruises that show on the skin plus that area where the bruise is becomes sensitive to the touch

There are not many products on the market to help prevent these bruises from occurring.

Joe

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User Research & Demo

Background

CrossFitting Since: Feb 2013 Attendance: 3-4 Times Per Week Age: 25 – 30 Sex: Female Annual Income: ~$60,000

Devices

Android Work Desktop Personal Laptop

Other Tools or Sites Used

Crossfit.com Facebook CrossFitJerseyCity.org Youtube.com

Day In The Life: At The Gym

At 9pm the night before the workout, I check the CJFC Blog for the Workout of the day.

I plan my day at work to ensure I can leave at a proper time for the Crossfit class I want to be in.

If the movements are complicated (ie, pull ups, snatch, handstand push-ups), I sometimes watch Youtube video tutorials before class.

Right before the WOD, I ask my friends how the workout was and am usually looking for what they found to be most difficult so I can mentally get ahead of that.

Before the WOD, I’ll review the whiteboard/scoreboard for friends on my level to set a certain goal for myself to meet or exceed and get a sense of how difficult performing RX might be.

After the workout, I’ll think about where I lost time or reps and what I should do next time to improve. I’ll also usually observe coaching in the next class.

Goals

Performing the workout as close to prescribed (RX), as possible, by dialing in technique and form that lends to more power.

Current Pain Points Being unaware of the best weight to train at (not receiving guidance and a push from a coach of the most proper weight for me to train with)

Fear of injury from trying to work with too-heavy of a weight

Lisa

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Survey Goals

Hypothesis Data Needs

People who do CrossFit frequently suffer from some form of bruising

% of people who bruise

Beginners who are not familiar to the movements, and who may also have limited mobility and those who tend to bruise the most

% of people who bruise, are beginners

People have bought previous products to help prevent bruising such as hand wraps for pull ups, knee high socks for Deadlifts etc…

% of people who have bought similar prevention type products

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Survey Results

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Survey Takeaways

Hypothesis Data Needs Conclusion

People who do CrossFit frequently suffer from some form of bruising

% of people who bruise 1. 94% Experienced some form of bruising

2. 74% experienced bruising of the collarbone

Beginners bruise the most % of beginners who bruise vs. advanced

1. N.A. Answers from those who have been CrossFitting for more than 2 years could not be extracted from data

Target Customer: Beginners new to CrossFit

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Minimum Viable Product

Manufacturing Prototype

14

Risks & Challenges

Area Risk Solution

Manufacturing

Order Shipment Delay Inventory

Closure Secondary manufacturer

Legal

Trademark Trademark application

Patent Patent application

Injury Form LLC

Finances Not enough resources Kickstarter

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Core Team

Person / Company

Responsible

Accountable

Consult Inform

Joe Wilkinson ü ü ü ü

Bradley Rothschild ü ü ü ü

DongGuan Jiejin Security

Protection Equipment

Co.,Ltd. 

ü ü ü ü

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Financial Forecast

FIXED EXPENDITURES ASSUMPTION EXP

Legal

Provisional Patent $65.00

Provisional Patent Correction $15.00

TradeMark $687.50Business Structure(LLC)

$200.00

Manufacturing Prototype $525.00

Recurring Orders 200 shirts at $13-$15 per shirt $2,600.00

Website

Website Registration(SquareSpace)

$288.00

Logo(99Designs)

$299.00

Video $500.00

Break Even(Price per shirt is $40)

Price per shirt $13 $14 $15

# of shirts sold 131 136 141

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Quarterly Roadmap

Pre-Launch: 3 Month Road MapDepartment January 2014 February 2014 March 2014

Legal

Trademark Application

Manufacturing

Manufacturing

Prototype 1

Test 1

Manufacturing

Prototype 2

Test 2

Digital / Website

Video

Kickstarter

Website

Department Task Start EndLegal Trademark Application 1/17/2014 2/16/2014

Manufacturing

Manufacturing Prototype 1 1/15/2014 1/28/2014Test 1 1/29/2014 2/11/2014Manufacturing Prototype 2 2/12/2014 2/25/2014Test 2 2/26/2014 3/11/2014

Digital / WebsiteVideo 2/6/2014 2/28/2014Kickstarter 3/1/2014 3/31/2014Website 1/15/2014 3/31/2014

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Wireframe

WilkWear.com

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Metrics & Measurements

Measurement

Acquisition

• Word of Mouth• SEO• Blogs

Activation

• 1st time customers• Conversion Rate• Site traffic• Time on site• Page views per visit• Traffic source• How many people clicked on the video

Retention

• Repeat customers• Session Length• Email open rate

Referral • Did they subscribe to email list

Revenue • How much did they buy

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