- 7 months ago
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🛠️
LifestyleTranscript
00:00All right, ladies and gentlemen, we now have a very special treat in the form of a $250,000
00:15power pitch contest.
00:18Really fun, courtesy of New Voices and sponsored by JPMorgan Chase.
00:22All right, so it's driven by PACE, model purpose, access, capital expertise.
00:27New Voices offers women of color, entrepreneurs, unprecedented access, capital, and expertise
00:34to build, grow, and scale their businesses with purpose.
00:39So New Voices Foundation is focused on providing flexible funding, education, and networking
00:45opportunities to these entrepreneurs via pitch competitions, all right, accelerators, boot
00:51camps, coaching and mentoring, online masterclasses, and much more.
00:57So we want to thank JPMorgan Chase for their sponsorship right now.
01:01All right, so we're thrilled to welcome these five black women entrepreneurs to the New Voices
01:05and Essence families and have you learn a little bit more about their founder stories, how they
01:10got started, their businesses, through their pitches.
01:13So we're going to get started with our judges first, introducing our judges, and then we'll
01:18kind of go with the panel.
01:19All right, so first we have Daryl Thompson, chief investment officer at managing partner
01:23at New Voices Fund.
01:27Pinky Cole, CEO of Slutty Vegan.
01:32And Keisha Porch, managing director, head of Chase, retail, banking, consumer, and small
01:36business, customer service, online support.
01:40She wanted me to shorten that title.
01:41I said, girl, you need all that you are.
01:44All right, so these judges are going to evaluate the pitches of the five company founders who
01:48will be competing for one $100,000 grant, two $50,000 grants, and two $25,000 grants.
01:58Okay?
01:59So combined with vital businesses and coaching for each winner, provided by JPMorgan Chase.
02:06All right, so we're going to go ahead, without further ado, we're going to go ahead and get started.
02:09I'm going to go sit right here.
02:12I'm going to introduce everybody.
02:14All right, start here.
02:22Okay, so first we have Aliyah Marindiz from Sugar Dough.
02:44Give it up for her.
02:53Hi, everyone.
02:55Hi, judges.
02:57My name is Aliyah Marindiz, sugar mama to Sugar Dough, and I want to introduce you to the sweetest
03:03hair removal method on earth.
03:06At Sugar Dough, we sell at-home sugaring kits for hair removal, a gentle and natural alternative
03:12to waxing.
03:13The problem Sugar Dough solves is simply hair removal sucks.
03:18It's tedious.
03:19It's repetitive.
03:20We feel like we have to do it because of social pressure.
03:24And that is what I was trying to solve.
03:26Unfortunately, a lot of products out there are falsely advertised as one size fits all.
03:33They're not catering to different skin types, hair types, complexions, sensitivities, just
03:38catering to that hairless model on the front of their packaging.
03:41So, in my attempts to solve this issue, I started making my own sugaring paste.
03:48And in September 2020, six years after my first sugaring attempt, in the height of a pandemic,
03:55I launched Sugar Dough.
03:56Because of the restrictions around the pandemic, I noticed that a lot of people were shifting
04:02their grooming routines from their salon to their home.
04:05They were looking for alternative products that were effective, convenient, and easy to
04:11use.
04:12And that's where Sugar Dough comes in.
04:13And I'm going to show you a little demo.
04:19Over here.
04:19Yeah.
04:20And if I can do this with a mic in my hand, y'all can do this at home.
04:24So, with Sugar Dough, you are using this taffy-like goop.
04:28And you mold it into your skin multiple times.
04:31The sugar will heat up to your skin.
04:36And the more you mold, the mold with sugar will adhere to your hairs.
04:41And actually, the sugar can grab closer to the hair of the, closer to the root of the
04:47hair than waxing.
04:48So, it more effectively grabs the hair and also half the pain.
04:51And then, in a few flicks, you are fuzz-free.
04:55You can see the difference, too, in the hair.
04:58And that is it.
04:59And the best part about it, too, is instead of throwing away strip sticks and microplastics,
05:04all you have to do is throw away this ball of dough, which is so natural, you could just
05:08chuck it in your backyard.
05:10The market is changing in the hair removal space and actually moving more towards skincare.
05:15A lot of these stale legacy brands that you see filling the aisle are losing their market
05:20share.
05:20Let's talk about the numbers.
05:22So, in 2020, every hair removal segment decreased in market share except for one, the sugaring
05:29and waxing category.
05:30It increased by 13%.
05:32And you pair that with the clean beauty market that is increasing 12% year over year.
05:39And you can start to imagine the shift that's about to happen in this $13 billion global waxing
05:45industry.
05:46And we're starting to see those shifts in sugar dough.
05:48A few months after we launched, in January 2021, we noticed that we were becoming viral
05:54on TikTok.
05:55And to this day, we just reached half a million followers on that platform.
06:01Not to mention, by the end of the summer, we will hit 100,000 customers of sugar dough.
06:08Most of them coming organically through our social channels and content creation.
06:13A lot of these sales are coming directly through our site, but we are quickly expanding into
06:19retail, which brings us here.
06:21I would like to use this grant money to build a sugar dough manufacturing facility so we can
06:26unlock economies of scale.
06:28I want sugar dough to be accessible to everybody, especially in this economic environment.
06:34By expanding our reach, we are modernizing body and facial hair care, and we're doing
06:41so in a way that is simple and sweet.
06:46Thank you, judges.
06:47Thank you so much.
06:49Shalia Marindez from Sugar Dough.
06:52I love it.
06:52How come sit over here?
06:59I think there's some questionings.
07:01Yeah.
07:02Thank you very much.
07:02Yeah, of course.
07:11Just a quick question.
07:13Love the market opportunity.
07:14They love the addressable market, the sizing, and everything else.
07:18As you think about going to retail, what changes do you think you have to consider to get the
07:25product to retail versus direct-to-consumer as you're using now on your site?
07:30Yeah.
07:31So we're thinking a lot about, right now, so much of the customers that we bring in are
07:36because of our brand, our story, and the narrative that we've created so far coming
07:42out of the pandemic.
07:43In retail, we don't get that opportunity.
07:45They have three seconds to look at a shelf, and then they make a decision.
07:48So one of the core things that we're trying to do is we're introducing this new format into
07:53the hair removal space because you don't see the sugaring paste right now in the aisles.
07:58So with introducing a format, so much is going to depend on that packaging, on how we are
08:05going to package our jars, and what are the words that we're saying.
08:11How are we comparing it to razors, to waxing, the pain.
08:14So already working on that, we are also decreasing our jar size as well to bring back customers
08:20into the store more frequently.
08:23Great.
08:23Hi, great pitch.
08:25Question.
08:26Talk to me about the shelf life of this product.
08:29It's two years.
08:30Two years?
08:31Yeah.
08:31It lasts a while.
08:33I thought it was a great pitch as well.
08:35I'd like to stay along the same line as Daryl.
08:38So when you think about this sugar product, sugar in men doesn't necessarily seem catchy.
08:44So how are you ensuring that you're scaling enough to capture the female and male population?
08:50I really like that.
08:52And a big part of the brand that we're creating is we don't need those divisions because it's
08:58just hair on our body.
09:00And so sugar in men, I think it's mostly just talking less about the ingredients and more
09:05about the functionality and how it works.
09:07So immediately if we say it's half the paint is waxing, we'll get those customers.
09:16Any other questions?
09:18Great job.
09:19Thank you so much from Sugar Dough.
09:21Thank you, everyone.
09:25Up next to the stage, we have Jasmine Marie from Black Girls Breathing.
09:37Black women are dying from chronic stress.
09:46Our community is most impacted in over-indexes on fatalities that are stemming from certain
09:53diseases that are linked to consistent chronic stress such as breast cancer, cervical cancer,
09:59ovarian cancer, heart disease, and pregnancy complications.
10:10That's a pause right there because that's a lot going on.
10:12My name is Jasmine Marie, and I am the CEO and founder of Black Girls Breathing, where we
10:18are using breathwork, community, and data to address the specific health inequities that
10:24Black women and women of color face.
10:26As seen in our features in Vogue, Harper's Bazaar, Good Morning America, and The Cut, we are pledging
10:32to impact 1 million Black women and girls by the year of 2025.
10:37We are innovating the wellness, healthcare, and research industries twofold.
10:43One, by providing accessible and culturally relevant mental health resources through breathwork,
10:51an active form of meditation that helps heal trauma stored in the body, and through community.
10:57Currently, we have two virtual sessions that occur per month with an average of 350
11:02to 450 participants per session, and a third of those participants are able to join at no cost
11:08and are living below the poverty line.
11:11Other participants are able to opt in at their budget from $5 to $25 per session.
11:16We are also using our engaged 17,000 global community to address the gaps in data and research
11:25pertaining to this demographic to impact the healthcare industry at large.
11:30We've also used creative forms of corporate partnerships to sustain the accessibility of our work.
11:38Current partners include Goldman Sachs, Visa, Estee Lauder Companies, Aveda, Under Armour, and Athleta.
11:47We plan to continue to scale and grow our business to meet our 1 million by 2025 goal this year
11:54by developing our tech platform and app, expanding on those corporate partnerships.
11:59And just an example, from changing our strategy from 2021,
12:03we grossed 40% of 2021's revenue in February alone in our corporate partnership strategy.
12:11And also by launching our monthly subscription, targeting the community members who are spending $35 to $50 per month.
12:18COVID really impacted our community.
12:2328% of the 569 community members surveyed said that they had access to mental health resources outside of Black girls breathing.
12:36Only 28%.
12:37So that's a huge gap.
12:39As we've seen Roe vs. Wade overturned and also the economic crisis,
12:45we are expecting even more demand when it comes to mental health support towards our community.
12:51We know that with the proper resources and using this grant,
12:55we will not only give Black women the opportunity to take care of their mental emotional health,
12:59but we will make an indent on the research end to the healthcare industry as a whole.
13:05Because Black women deserve to live full, thriving lives.
13:13Thank you, Jasmine.
13:14It's good to have a seat.
13:15And I'll ask you some questions.
13:17I'll start.
13:18Hi, how are you?
13:18Hi.
13:20It's a two-part question.
13:21So you say you have a subscription service.
13:23Talk to me about the pricing model and then what information is provided in that subscription service.
13:30And what separates that from just going online and getting that information for free?
13:34So we are going to launch a subscription service.
13:36And so right currently what has been a great behavior we've seen is that we have our sessions
13:41and community members are signing up each session, right?
13:44Some of them are paying $50 a month, $35 a month to join our sessions.
13:49Now, once we launch a subscription model on our tech platform, they'll have access to digital content,
13:55other mental health resources and sessions, and we'll be able to pay around $39.95.
14:01So those of those community members who are already spending $35 to $50 a month just for two sessions,
14:07we'll see that add value toward our monthly subscription.
14:12Hi, how are you?
14:13Hi.
14:14When you think about your demographics, which population are you think will be your highest target?
14:21Honestly, what we love about our work is that there's an education component.
14:25And so though we see a rise in Gen Z and millennials talking about mental health and opening up,
14:30we've been able to reach all the way to baby boomers.
14:33So our services are reaching a span of black women, and we will be launching our breathwork circles
14:39for other women of color, specifically Latino women and also Asian women for the Latina breathwork circles.
14:45They'll be offered in Spanish.
14:46We see the value in culturally relevant circles, right?
14:50So black women have specific health challenges.
14:52Those in the Latina community have specific health challenges, and addressing them instead
14:56of doing a general breathwork circle or wellness sessions really appeals to them.
15:02So through that insight is why we're building through that way.
15:05I hope I answered that one.
15:07Let me ask a follow-up question to that.
15:10So based on what you said, you're going to target, you don't, I didn't hear you say a specific group.
15:16So it could be widespread that you can have age groups across the board.
15:19But you also mentioned that whether it's Latino or black women, so black and brown communities,
15:24they all have special needs.
15:26What are you going to do with that information once you capture that as they're engaging with
15:30that?
15:30How are you going to use that information?
15:32To develop the type of resources and content that we give them, right?
15:37So we've done that to date.
15:38When we saw COVID happen, we acted reactively by having the data we did to switch our model
15:44to an accessible revenue stream, right?
15:47So we're very active because we're also collecting data from this community and ensuring that
15:52whatever we're producing and offering actually is something that they want to need.
15:56I think that's really important as we build in the climate that we are today to build in
16:00a way that's reactive to their needs and not just what you think.
16:03I have another question.
16:05Sorry, Daryl.
16:05So this is a for-profit business, correct?
16:08Yes, ma'am.
16:09Have you considered making it a 501c3?
16:11And why haven't you if you didn't?
16:13So here's the thing.
16:14We're smart.
16:15We have both a for-profit and non-profit.
16:17Awesome.
16:18Because we know that black women don't get access to resources like that.
16:21So I'm doing whatever it takes to reach our 1 million by 2025 goal.
16:24Got it.
16:26Thanks for asking my question.
16:28But let me ask you this.
16:30And it's going back to your content again.
16:32Yes.
16:32And making it culturally relevant.
16:34Yes.
16:35Is it culturally relevant not only because of language?
16:38How are you looking to curate that content in a way that it really is defining the needs
16:45of the race or the group that you are targeting?
16:49Yeah.
16:49So I can take an example from the fact that we also have a B2B model, not just from the
16:53data and research, but doing these sessions internally, right?
16:56So if we're working with a general population, it's, you know, how to decrease stress, how
17:02to decrease anxiety, very general terms.
17:04When you're talking to black women, it may be, how do I deal with microaggressions in
17:08the workplace and how is this impacting my mental and getting services specifically for
17:12that issue in a way that a white woman cannot understand, right?
17:15And this is really important in addressing all facets and dynamics of black women and women
17:20of color's mental health.
17:22All right, Jasmine, thanks so much.
17:24Thank you so much.
17:25Let's bring up black girls breathing so far.
17:30So good.
17:30Right.
17:31Great.
17:31Great.
17:31All right.
17:32Let's bring up our next guest.
17:34Our next finalists.
17:40Oh, there she is.
17:41Pauline E.
17:42Do all from mocktail club.
17:45Surprisingly, one third of American adults don't drink.
18:00The other drink occasionally.
18:03And when I was pregnant, I struggled to feel included in my social events.
18:10I wanted something healthy, sophisticated, and non-alcoholic.
18:15But the options in the market were underwhelming.
18:18And that's pretty surprising considering the non-alcoholic market is estimated at $30 billion
18:25by 2025 and made up of people who don't drink for various reasons, including health and wellness,
18:33policy, religious, and let's not forget the people who are moderating to be the designated driver
18:39or to wake up the next day for work.
18:41Hi.
18:42My name is Pauline E. Do all and I'm the founder of mocktail club.
18:48So we recreate the complexity, nuance, and boldness of a great cocktail without the alcohol.
18:56We use better for you ingredients such as super fruits and prebiotics.
19:00So your drink works for you.
19:03We balance sweet, tart, savory, and bitter notes just similar to the perfect mixologist touch.
19:10And for instance, my favorite, Havana Twist, is like a reimagined mojito made with cucumber,
19:17mint, lime, and cardamom and cloves.
19:20We have a modern take on our cocktails.
19:24We use, we're inspired by travel to over 30 countries.
19:27I'm originally from Nigeria.
19:29I went to high school in London and worked at the Wall Bank.
19:32So each flavor uses, reflects sights, sounds, and memories from all our different countries.
19:40The non-alcoholic sector is booming and is the fastest growing sector in the beverage
19:44industry.
19:46And we set ourselves apart, not only from the complexity of our drinks, but by our focus
19:52on natural and clean ingredients.
19:56So let's talk about our traction.
19:59We have three sales channels.
20:00We're on retail at Whole Foods, other natural stores, and we're launching in a number of
20:06chains this summer.
20:0825% is online.
20:11And we sell on our website, Amazon and GoPuff.
20:16And lastly, we're in food services, where we sell to restaurants and corporates, such as
20:21Microsoft.
20:24We received great press.
20:25We've been on NPR, Bloomberg, and a number of other national publications.
20:31And we made Oprah's favorite things list.
20:34And we were one of the winners of Pharrell's Black Ambition competition.
20:40And our customers love us.
20:4190% of our online ratings are five stars.
20:47When our team is experienced and ready to take Moctel Club national and then around the world,
20:54we would be using the proceeds to build and spur our current growth and working capital needs.
21:03The beverage industry needs more black female representation.
21:09And we need more black brands on our shelves nationally.
21:14Help us redefine the drinking experience so that everyone can feel included and celebrate
21:20together.
21:21Cheers and thank you.
21:23You have a seat.
21:25The judges will ask questions.
21:29What is your price point?
21:32So each can is sold for $3.99.
21:34$3.99.
21:35And I don't want to get too specific about your margins or anything else.
21:40If there was something in terms of the capital that you're looking for that could help your
21:46gross margins, what area would you focus on?
21:50So the actual cans themselves, being able to buy bulk cans and ultimately get into a point
21:56where you're not shrink canning the sleeves and you're actually digitally putting the write-in
22:02on the sleeves and that reduces the price dramatically.
22:06Got it.
22:07And one last question.
22:08What is the shelf life?
22:0918 months.
22:1018 months.
22:11Hi.
22:12So I love this because I'm pregnant and I feel the same way.
22:15I can't drink with my friends, which is fine.
22:18Is this like a kombucha?
22:21It's a great question and it has a little bit of tartness.
22:24It's not kombucha, but we use apple cider vinegar and that's what gives it prebiotics.
22:29It's organic apple cider vinegar.
22:32It's tunnel pasteurized.
22:33So it's perfect for pregnant people as well.
22:36And what we've done is we've really recreated that balance.
22:39So we use cardamom and cloves or ginger so that you don't have that overly tart tartness
22:46that you get from a kombucha drink.
22:47So it's all about balancing.
22:49Got it.
22:50And my second question is, talk to me about your marketing plans.
22:53Like I think that you have a really great marketing opportunity to get this message out.
22:58Tell me about some of those thoughts on doing that.
23:00Sure.
23:01So we've been bootstrapping.
23:03So a lot of it has been social media, organic growth, and we've been lucky to get a lot
23:08of PR.
23:09So that's been great.
23:10Um, we work with a number of influencers on the food side, as well as in the sober curious
23:15community, which has been growing dramatically.
23:18And that's how we've been growing primarily organically and just partnering with different
23:22groups and organizations.
23:24Got it.
23:27Talk to me a little bit about the development of your flavors.
23:31So I heard you mentioned earlier today, some of those ingredients would sound really great.
23:35But when you think about a mocktail, how are you developing the flavors and how will you
23:39continue to scale that so you don't tap out with just two or three tops?
23:44So that's great questions.
23:47So we have a co-packer and we're doing a couple of thousand gallon runs.
23:51So we produce close to 100,000 each run at this stage.
23:55So we've been able to, we work with large suppliers that have been there for 30 years.
24:02So we're able to source all our ingredients.
24:04And just to go into the weeds of my team, but one of my mentors actually who's ex-Coke and
24:10works in supply chain has decided to join our team as the COO.
24:15And he's been really running with the supply chain and really helping with the margins.
24:19So...
24:20Think about variety in a packaging.
24:23So think about the variety of your flavors in a packaging.
24:25Yes.
24:26Have you thought about that?
24:27As in how many different...
24:28Different flavors.
24:29So people can buy a package, but they absolutely have an opportunity to be able to taste them
24:34all so that you can get some, you can get some understanding on which is your best sellers.
24:39Have you tried that?
24:40Yes.
24:41So online, we sell the variety packs and that's actually one of our best sellers.
24:45And that's typically an entry point for people to figure out what they like.
24:49And then once they like that, they ultimately get into the different flavors that they love.
24:54I have one more question.
24:55Have you done the research on the sizing of the cans?
24:58So like, for example, when I was in college, people drink Four Locos, right?
25:01And the can was a little thicker.
25:03I know.
25:04The cans was a little, they were a little thicker, but have you done research on a smaller
25:08can versus a thicker can and tell me about that?
25:11And the reason why I ask is because I want to be able to go into a liquor store and see
25:15that in a bigger can with the colors in the marketing, like a regular alcohol can.
25:20So it's like, I don't feel isolated.
25:22If I'm not drinking, you wouldn't even know the difference, but it's alcohol free.
25:24Yeah.
25:25That's a, that's another great question.
25:28So 12 ounces is great for the whole foods and the grocery stores.
25:32They don't want to give eight ounces because people feel that they're cheated with 399
25:37price point.
25:38And the liquor store is in a four pack.
25:40I think eight ounces is actually a really good size.
25:45If people want to use it as a mixer or they want to have this pure little small single serve,
25:50eight ounces is a good size.
25:52But for us, we have to do more research to determine whether we want to change all our packaging
25:58or have single serves, plus a four pack for a week for liquor stores or wine stores that
26:05you would sort of get more of a bulk four pack size in.
26:09All right.
26:10That's time.
26:11Thank you so much.
26:12Pauline, you go home from mocktail club.
26:14Thank you so much.
26:19All right.
26:19Next coming to the stage.
26:20We have Shantae Grant with best today.
26:38In the last two years, over 70% of working women have reported experiencing burnout, according
26:44to a study done by Maestro health.
26:46With the $4 trillion wellness industry growing, it's clear that consumers are willing to spend
26:51money to seek sustainable solutions when it comes to their health and well being.
26:56I'm Shantae Grant.
26:57And as a mother to two, a former attorney and a business owners, I've witnessed firsthand
27:02the detrimental effects that burnout has on women.
27:06And that's why I created best today wellness, wellness tech company that provides community
27:12products and content to help women optimize their time and live healthy, live healthy lives.
27:19Now with customers in all 50 states and over 20 countries and a 58% customer retention rate,
27:25we've helped our customers overcome symptoms of burnout within the first one to three weeks
27:29of using our products.
27:31Customers have reported having more time for their families, their friends, for being able
27:35to create consistent habits that allow them to get more sleep and exercise to name a few.
27:40Now studies on burnout show that there are two key causes of burnout.
27:44The first is lack of social support.
27:47And the second is activity beyond your capacity on a regular basis.
27:51We provide solutions to both of these.
27:54First we provide support through our community, the best today community, which is a subscription
27:58app for $29 a month or $2.97 for the year that provides women with exclusive content, live
28:04workshops, accountability partners, as well as a safe place to ask questions and share.
28:12We also support a wider range of women through our podcast, the best today podcast, which is
28:17a weekly podcast.
28:19Our hero product, which I have right here for you, the best today guide goes beyond the traditional
28:24planner and the limitations that it has.
28:27Inside the best today guide, you won't find to do lists, 6 AM to 6 PM time slots or bullets,
28:32which traditionally lend to over, over scheduling and overworking inside the best today guide.
28:37You will find guided prompts to help you get clear on what matters most in your current season
28:41of life, as well as a play it, our plan, how to plan your days and weeks using our three
28:47step model.
28:48We also have a suite of complimentary physical and digital products that range from 17 to
28:53$57 with a 70 cent, 76% profit margin or higher.
28:59Those products help women to learn how to prune their schedules and create real realistic routines
29:04that help them at home and at work.
29:06Now in addition to our direct to consumer, we have corporate partnerships whereby companies
29:10bring in best today to provide them with wellness and professional development training.
29:15We've worked with million dollar companies.
29:17We've worked with hospital systems in the last two years to help their team recover from what's
29:21happened over the last two years, as well as small businesses.
29:24We will expand this part of our business in Q3 and Q4 as the demand for corporate wellness
29:29continues to grow.
29:31But it's not just corporations that are seeking us out.
29:33In 2021, over 12% of our new customers were recommended to us by their therapists or their
29:39doctors.
29:40We're here.
29:41We're here asking for $100,000 to invest in strategic marketing efforts and production
29:47of new and current products to continue to help women to optimize their health and time.
29:52If we don't address the issue of burnout as it relates to women, it will continue to negatively
29:57affect them mentally, their emotional health, and their physical health.
30:00But most important, it will continue to perpetuate the message that our society is okay with
30:05our women not being okay.
30:10Thank you, Shantay.
30:11Grant, I'm going to take questions from the judges.
30:15You mentioned a couple of channels and targets that you were going for, the physician, the
30:21health practitioner, the actual end user consumer, and also corporations and wellness programs.
30:27How do you see those three channels in terms of where you would focus in determining profitability,
30:33effort, ease of use?
30:36So these three channels actually work really well together.
30:39So we basically have 25% of our income comes from our subscription-based app, our community.
30:45We'd like to increase that to 40% to 45%.
30:4755% currently is our physical and digital products, and 20% is the corporate.
30:52But the corporate just began in 2021.
30:55We actually right now have more companies scheduled for Q3 and Q4 than we have all of 2021 because
31:01that demand is rising for corporate wellness, women are saying, we're getting burnt out and
31:05we're either leaving or you're going to help us.
31:06So that's why they bring us in to help not only the teams but the leaders so that the leaders can
31:10get a better understanding of how to help their women in the companies.
31:14And so it actually works pretty seamlessly.
31:17The corporation has that one piece.
31:19The subscription base is really simple.
31:21And one of the things that we want to do with this money is to bring on a content manager
31:25to help with that so that we can grow the community.
31:28The community has gone pretty organically with the purchase of the Best Today Guide.
31:32They get the first month free.
31:33So that gets them in to see what we have to offer.
31:35They participate in our live workshops.
31:37We have a live call every Thursday.
31:40So we really have given women the opportunity to have a safe space.
31:44And that's why they keep coming and staying our churn rate.
31:46We have most women stay in the community.
31:49We lose very low percentages of customers.
31:52And we've actually found that a lot of customers who have left come back within two to three months.
31:56Great pitch today.
32:01How are you including or being more proactive including the academia when you think about engaging HBCUs or college students to develop good habits before they get into corporate America or some of their other fields?
32:15How are you how are you marketing to them?
32:18And then also would they have a different price point or platform knowing that they may not be able to afford someone who's working?
32:26Thank you for that question.
32:27So we actually have a lower price point for our community for college students.
32:31We have a number of college students that are in the community that's a much lower price point for them.
32:35I have not tapped into, and thank you for that, that market of community.
32:40We have been brought on by universities.
32:42We do a lot of work with freshmen to help them because it's a new way of thinking, a new way of time management.
32:47And for them we market this exact same way.
32:50We market the same products with the best today guide.
32:52We do also like I mentioned that suite of products.
32:55We've taken the best today guide which gives you that three step process and we've broken it out so that maybe you're not ready to start all three steps.
33:02We have products that teach you, okay, well maybe you just need to learn how to preview your week before the week begins.
33:07Maybe you need to just work on routines.
33:09And so we have products that break that down which is really helpful for our college students, really helpful for young mothers.
33:15We have a lot of young mothers who find it's easier to start with one step and then they work their way.
33:20We find that usually about 56% of people who start with one of our smaller products within two, within two months will then come to the best today guide, which is a 14 week product.
33:29So they're buying it four times a year, most on subscription.
33:32So again, it's that reoccurring revenue that we like to secure.
33:35All right.
33:37Time is up.
33:38Thank you so much.
33:40Thank you, Shantae.
33:42The best today.
33:43And our last finalist, Jordan Karim from Flora and Noor.
33:49Right here.
33:50There we go.
33:51Hello.
33:52My name is Jordan Karim and I am the founder of Flora and Noor.
33:57Flora and Noor is not just another skincare brand.
34:02We are the most inclusive skincare brand in the industry.
34:18And the only Halal certified skincare brand based in the U.S.
34:23Meaning all of our products are alcohol free, free of any animal byproduct, ethically sourced, sustainable and permissible for Muslims to use.
34:32We provide skincare for those who have chronic skin conditions, who have melanin rich skin, who appreciate clean skincare, and who need to use Halal certified products.
34:4363% of women in the skincare industry feel ignored.
34:4882% of products contain toxic and harmful ingredients.
34:53100% of Muslims have limited access to Halal certified skincare in the U.S.
35:00I solve this with high performance skincare and environmental consciousness with the power of plants, inclusivity, and innovation.
35:11I have the perfect combination of passion and experience to execute this.
35:17As a previous research chemist and then pharmaceutical consultant for Johnson & Johnson and Allergan with the likes of Botox, SkinCeuticals, and more, I love to see patients yield efficacious results.
35:30However, none of the products were ever vegan, cruelty-free, or Halal.
35:36Additionally, while treating my son's eczema, I realized that consumers like myself had to too often choose between clean or effective.
35:46On top of that, as a black Muslim, myself and billions of other Muslims have limited access to Halal certified skincare.
35:55So we have to DIY, we have to order prohibited products and feel terrible about it later, or we have to order from overseas.
36:04And when ordering from overseas in places like the Middle East, Africa, Asia, etc., unfortunately, many Halal products do contain bleaching and whitening ingredients that are harmful for our skin and not encouraging our beautiful, rich complexions.
36:22So I asked myself, what if I could create a skincare brand that was inclusive of all of my sisters that everybody could feel proud to use that was clean and effective?
36:33So I created Florinor. Halal Beauty is a $75 billion market globally, but untapped in the US.
36:42So we have a huge opportunity to gain a large market share and become the leaders of Halal Beauty, but also a staple in the US.
36:52All of our products are botanically innovative and sold individually, but also as skincare subscriptions.
36:59So based on a customer's skincare goal and skincare type, they'll receive a skincare regimen every month if they choose.
37:05So they don't have to become chemists in their bathroom. That's my job.
37:09We are D2C, so we're available on site as well as Amazon, Verishop, Beauty Bridge, The Allure Store, and soon to be launched at ThirteenLoon and Ulta.com.
37:22We have over 4,000 customers, over 2,000 subscribers, and we've been featured in Essence, also in Forbes, Vogue, Birdie, and more.
37:32And I'm raising $1.5 million for the future of truly inclusive skincare, and I hope you all fall in love with Florinor.
37:41Thank you. If you have a seat, the judges will ask their questions.
37:46Hi. So this is actually a really cool concept. So you said it's specifically for black women's skin types. Is that what you said?
37:55Correct. So a lot of people don't know that the largest population of Muslims in the US is actually black Muslims.
38:03And so we are a Halal beauty brand, but our main focus is on melanin-rich skin like mine.
38:09Got it. And if I'm Jewish, can I take advantage of this product if I only use Halal and kosher products?
38:15So we aren't actually officially kosher certified, which that is in the works. We're actively in that process.
38:21But we do have kosher formulations, and you can go on our site, and you can see any product with an asterisk that says kosher is also available for anybody who needs to only use kosher products as well.
38:37I guess my bigger question is, is your specific target black women? Because there's so many Muslims that aren't black. So is it just black women?
38:45It's not just black women. It's absolutely everyone. The goal is to make Halal skin care more accessible.
38:51But everybody, we want everybody to feel included and to be proud of the skin care that they use.
38:57Got it. Thank you.
38:59And what is your price point?
39:02So all of our products are priced between $24 to $38.
39:07And right now you say you're all DTC partnerships with a few other, Amazon and the like. Do you have plans with the product to ultimately get to retail?
39:17Absolutely. And I'm so glad that you said that. My main goal is really to make Halal skin care more accessible.
39:23And so, you know, though we are available DTC, I want people to be able to go into Target, to go into Ulta, and be able to immediately grab a product from the shelf when they need it.
39:37Daryl asked my question.
39:38Daryl asked my question.
39:39Daryl asked my question.
39:40I'm good.
39:41Daryl asked her questions.
39:42All right.
39:43Thank you so much.
39:44Thank you so much, guys.
39:47Jordan Karim from Flora and Noor.
39:50All right, guys.
39:55So the judges are going to deliberate.
39:56They're going to figure out, discuss, talk amongst themselves off stage.
40:01And we'll be back.
40:07Bye.
40:08Bye.
40:09Bye.
40:10Bye.
40:11Bye.
40:14Bye.
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