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The Dirt on Your Sponge (Published 2014)
Nytimes
·
Aug 27, 2014
In the ’90s, the two crossed paths on the set of “Sex and the City.” More than a decade later, they are presenting their ...
* Click here for important information regarding Financial Projections which are not guaranteed.
Problem
Solution
SpongeBath has been independently tested by a leading global provider of microbiological and analytical lab testing in New Jersey to kill >99.9% of bacteria, such as E.coli 157 and Staph, when used as directed.
Why hasn't anyone ever
thought of this before?
Other methods of cleaning
sponges don't solve the problem
Product
Experience true cleanliness with SpongeBath
A Cleaning Method & New Category Creator
A simple and convenient cleaning method
A Patented Technology and Design
Patented method to sanitize and clean sponges
A Cleaning Brand
SpongeBath is a fast-growing, purpose-driven brand that is trailblazing a new category in kitchen goods for home, office, hotel, commercial.
Just Add One Ounce of Concentrate
Each week you'll add one ounce of SpongeBath's powerful concentrate, and fill it with water to create a powerful cleaning solution.
Traction
$10.8M run rate by Year 2
With an increased ability to expand our operations and sales capacities, we are projecting $1.2M in revenue in our Launch Year and $10.8M in annual revenue by Year 2.
* Click here for important information regarding Financial Projections which are not guaranteed.
SpongeBath is endorsed by experts
in the medical and business fields
—
* Kevin Harrington is a Featured Investor on Republic – Click here to visit his Republic page.
SpongeBath has caught the eye
of household influencers and featured in
Customers
Customers love SpongeBath
Consumers are becoming increasingly aware of the danger and hassle of dirty sponges. With a broad appeal across all demographics, SpongeBath is earning customer loyalty and brand recognition.
Business model
"Razor & Blade" model drives recurring revenue
Our "Razor and Blade" financial model generates revenue with excellent margins from the initial purchase of the SpongeBath Starter Kit ($49) and ongoing revenue from recurring sales of Concentrated Cleaning Solution ($9.95 for 2 month supply).
Key Performance Indicators (KPIs)
- Average Order Value (AOV): $68
- Customer Lifetime Value (CLV): $225
- Gross margins are greater than 80%
* Optional Sink-Mounting Bracket - Securely attach your SpongeBath sponge holder inside your sink with this versatile sink mounting bracket.
Market
SpongeBath fills a huge gap in the market
Our company proudly owns the entire market space for sanitizing and cleaning kitchen sponges.
Disruptive innovations have
rapid growth potential
SpongeBath is on the launchpad to join other disruptive innovations in the kitchen and cleaning sectors.
Competition
SpongeBath represents a disruptive and inceptive innovation
Capturing the "first-mover advantage," SpongeBath is the first-ever product with no direct competitor. We are the first and only sponge holder that stores and cleans kitchen sponges and then keeps them clean between uses.
How SpongeBath performs against other sponge holders
Broad IP protection from competition
Vision and strategy
Targeting an exit
of $150M+ and 10-15x ROI*
Exit Strategy: Position the
Company for Strategic Sale in 3-5 years
* Click here for important information regarding Financial Projections which are not guaranteed.
Become a new staple in every kitchen
—
Impact
Our mission is to create innovative products that make homes safer and cleaner, help reduce food-borne illnesses, all while helping the environment and providing superb customer service.
Funding
All set to take off
This round of funding will be used to:
Meet our talented advisors
and prominent investors
The SpongeBath team is supported by a diverse blend of successful people with special skill sets to help propel SpongeBath forward.
Founders
Matthew Flannery
Founder & CEO
Summary
Clean up with SpongeBath
Worldwide Market | Made in USA | Licensing Opportunities
- Solves a widespread problem in millions of kitchens
- Safe, effective and eco-friendly
- There’s nothing like it in the marketplace
- Ready to scale, with no competition
- People love convenience and want neat and tidy kitchens
- Excellent customer reviews
- Patented Product
- Extensible product lines
- 3–5 years strategic exit
