Overview (7/8)
We have a loose strategy of splitting up our paddle company into 3 different entities. Details still need to be ironed out (good business lingo) but for the time being we are going to focus on 2 paddle companies, and a distribution company.
OnePickle
-Waiting on Sergio to send the 8 paddles for testing as well as detailed specs Joe has asked for.
- Niall & co are currently putting together a sales and distribution plan attached below
-Created Paddle Questionnaire/Survey (Still needs final edits)
Vantage V1
-Joe created proof of concept for Vantage V1 paddle
-This is the most intriguing of the three ideas in my mind because Joe seems to get what people are looking for in a paddle, and it allows us complete control of design and quality assurance. The difficult part is connecting with a chinese manufacturer to deliver a product up to our standards, but I think we are smart enough to be able to get over this hurdle. We have some ideas in mind to get started including talking with a buddy of Niall's who has dealt with Chinese manufacturing before.
Dice Cold Distribution Company
Fitzy was very excited about this idea and after hearing it, I definitely think it is something worth pursuing. Basically, we would start our own distribution company where we will distribute and sell pickleball gear. The concept is relatively straightforward, if we bring in paddles from OnePickle, we would probably work with a distributor anyways in order to sell the paddles, but being our own distributor allows us to not only sell and distribute OnePickle paddles, but Vantage paddles, and other pickleball related gear whether we own it or not. The idea is going to take some fleshing out, but I think there is something to it. The strategic advantage we would have if we did this is that we would have our own product(s) to sell first building us credibility, learning the market, and essentially doubling profit margin.
Next Steps
-OnePickle: Continue developing and creating the sales plan
-OnePickle: Establish budget and financial projections (laid out as detailed as we can)
-Vantage V1: Meet with Niall's friend who has experience dealing with Chinese manufacturing
-Vantage V1: Research Alibaba and/or other to narrow down who we want to work with and what is needed. I imagine we would need to nail down specs and a design, but I have no idea
-CD Distribution: Hash out what would be needed to start a separate distribution company and what it would look like (legal aka Zach)