YUNG BOD
Video Entry
Business Information
Female Founder:
Kristy Young
Links:
How has the business been funded to date?
Bootstrapped
Tell us about your business:
We have outgrown our current space aka my bedroom and looking to expand. In 2022 we started to sell our products online and 2023 started to see traction and selling within bricks and mortar stores. 2024 is our year and we are looking to grow even more. We need a new space but more importantly looking to hire other like minded females, especially mums looking to get back into the workforce.
We also need to advertise and hit other mediums that we haven't been able to venture into yet. We have already established a humble community but we want to able to reach other parts of Australia we haven't tapped into yet!
How would $5k or $10k enable you to create more profit and impact in your business?
$10k would make a huge difference to the impact I could make to teachers and the profit I could make in business. After a challenging transition to working motherhood, it is clear that my solo-preneur approach is a bottleneck to business growth. By hiring admin support, I'd spend more time on service delivery and business development. This reallocation of my efforts would amplify my business's growth potential and enhance its profitability. The business model is sound, the resources are ready, the audience and market need is there and growing. What's holding me back right now is wearing every hat myself.
Please outline what you would spend the grant on:
5k will go into marketing & advertising - we have so many mums say 'oh I wish I knew about you earlier!' We are looking into hospital gift giving bags , which are 50c a bag. 315,000 babies are born in Australia each year with a third of these born via c-section (with little after care advice given!)
5K will go into product development - from manufacturing to graphic design the whole end to end process of a new product can be costly. We have a few new ventures up our sleeves and wanting to get them to market.
