Landlocked Corals

Online and retail Saltwater and Freshwater Aquarium store that has been in business for 3+ years. We are in progress of developing a mobile app that would allow live-stream auctions for the aquarium industry.  We are expecting the app to be completed within the next 3-5 weeks. We will convert our current userbase to the app which will produce an estimated $7,000 Gross Revenue per week - net revenue would be 25-30% based on types of corals / items sold. 

1/10 Americans have a Fish tank in their home. 65.1 Million households have at least one dog, and 46.5M households have Cats and Fish. 

We have used the platform "WhatNot" to sell over $250k in corals in the last 9 Months. However, 13% of this has been absorbed due to the extensive service fees on the platform. We have limited functionality as the platform is primarily designed for Trading Cards and Collectibles, and we have been self promoting our stream on facebook by simply sharing a post to multiple aquarium groups. 

With a new platform, we will have the functionality we need, and  a new platform would allow us to by-pass app-related fees, market the app towards other Vendors, Stores , and hobbyist (who grow and sell coral from their homes).  

Aside from our online sales, we also have a Retail storefront and maintenance side to the business that accounts for roughly $32,000/month in revenue. 

We are requesting the investment for funds to invest in further app development, marketing, and inventory. 

Once the app is developed and launched, we plan to incentivize stores to use our platform to sell corals after seeing our success. Our revenue model will be expanding on our current seller base with national attention - but also charging vendors a lesser % / service fee - and subscription based services to users for aquarium essentials - (every 3 weeks you receive coral food, box of salt, and etc). 

 Additionally, this will help drive the cost of the hobby down creating a place where it is essentially the "amazon" of corals. People across the US are limited right now to Big name online stores like "World Wide Corals" who charges 10x as much as the local fish stores, or a local fish store who only has a select list of inventory. This will broaden inventory and availability of unique corals nationwide.