Table Colombia Challenge
| UserId | 222 |
|---|---|
| Business Name | Enjoy Flowers |
| Application Date | 09/30/2019 |
| Website | https://www.enjoyflowers.com/ |
| Location Headquarters | Carrera 13 # 83-19 Bogota, Bogota 110221 Colombia Map It |
| Legal Status | Incorporated |
| Core Team Languages |
|
| Contact Name | Marcela Calderon |
| Email Address | Email hidden; Javascript is required. |
| Phone Number | 573114812602 |
| Problem: Describe the problem you solve. | Europeans consume 5x more flowers than Americans. Why is that? Nearly 3 in 4 Americans have a high appreciation for fresh flowers, and yet, they purchase less than 2x on average per year. The problem in this scenario is: 74% have the perception flowers fade quickly and 34% believe they are too expensive / a luxury. |
| Solution: Describe your solution and product road map | Backed by one of the premier flower farmers in Colombia, we've created a subscription service for homes and businesses across the U.S. that makes long-lasting flowers available with an efficient, sustainable, farm-to-front-door model. Our monthly flower subscription promises a 2-week vase life – a full week longer than store-bought bouquets! |
| Market opportunity: Describe the opportunity. Include global market size, trends and risks. | With 6 million potential buyers in our target demographic (people with household income > $125,000, who have purchased flowers in the last 6 months and are heavy internet shoppers) and a $46 monthly subscription, our market opportunity is $3 billion in the US market. |
| Competitive Advantages: Describe your top competitors in Colombia and globally. Remember that there are direct and indirect competitors, so include both if relevant. Enumerate and explain your main competitive advantages. Include IP protection. | Our main competitors in the US market are: 1-800 flowers, FTD and Proflowers. These three brands have a consolidated market share of 50% in the online florist industry and have each been around for several decades. These companies source and deliver flower arrangements to the final customer through local florists networks who buy their flowers from the traditional supply chain. Ultimately, our top competitors are delivering flowers that have spent 8-14 days traveling before arriving to the final customer. At Enjoy Flowers, we ship bouquets directly from our farms in Colombia to the customer’s door-step in the US. Our farm-to-front-door model eliminates middlemen and it means our flowers only spend 4-6 days traveling. Thanks to the freshness our model provides, we can promise a 2-week vase life – that’s a full week longer than store-bought bouquets! In recent years new ventures, such as The Bouqs Co. and Bloomsybox, have also emerged in the online flower industry. These companies, too, deliver flowers directly from farms around the world to the final customer. Enjoy Flowers is the only flower subscription that operates 100% from a farm in Colombia, enabling us to ensure our value proposition. |
| Market fit: Describe how much your solution has been validated by potential customers and provide references that have tried or reviewed your solution. | During peak season, we’ve had 1,700 active subscribers - these customers stay with us for an average of 12 months. We were also selected as an Amazon Choice vendor for the Holiday 2018 season! |
| Strategy and plans: Explain your business model and go-to-market strategy. Include partnerships you are considering and your key performance indicators. | Our Growth Plan includes:
Our key performance indicators are: Active Subscriptions, Customer Live Time Value and CAC |
| Team: Describe your main team and ownership. Include brief bio of team members. | At Enjoy Flowers, we’re 3 co-founders, each with more than 20 years experience, much of which has been in floriculture and new digital business creation:
Working with digital startups and corporate organizations for 20 years, Marcela is a distinguished leader in new digital business creation, innovation, strategic planning and corporate finance.
Alejandro has over 20 years of experience in the floriculture sector and is recognized for his success in areas from technology, to financial and commercial management.
CEO of Jardines de los Andes, a family-owned company in the floriculture sector. Entrepreneur (with one successful exit) and Manager of Innovation for two of the most important media companies in Colombia. Former marketing employee of Unilver and DirectTV.
In 9 years with digital startups and multinationals, Marianna has successfully led a fashion and beauty marketplace, eCommerce for a home retailer and digital area for a short-term lodging startup. Master in Digital Marketing and eCommerce from Universitat de Barcelona. |
| Financials and Capital needs: Provide 3 years projections. Describe main milestones to be reached. | In the link below, you´ll find the Enjoy Flowers financial projections. https://drive.google.com/file/d/1GWWh4OupfzqQlRYJBXEGLQ4im4SSrUCD/view?usp=sharing Our main milestones for the 2022 year are:
|
| Do you believe your business has an impact on your community? If so, how? This could mean an impact on your employees and their families, the people receiving your services, or the city/region overall by providing a service for the environment, health, or resilience, for example | Enjoy Flowers is contributing to the growth and future sustainability of the fresh flower industry in Colombia, in which a high proportion of its field workers are single mothers heads of families, who live in rural areas. Also, Enjoy Flowers has encouraged the participation of field workers with physical restrictions in the assembly of its bouquets. |
| EntrepreneurId | 338 |
| ProjectName | Enjoy Flowers |
| Status | Enviada a los examinadores |