Name of entrepreneur and product or service provided by company
Izzy Calarelli is a fashion designer from Canada who designs clothing for the crippled in the wheelchair. She had previously designed clothes for the high end and well-known celebrities such as Merrill Streep and Angelina Jolie. She however switched her line of dealership in 2004 after meeting a quadriplegic journalist whom she later designed for a custom perfect made shearling cape. This was her turning point in designing a line of clothing for both male and female in wheelchairs. The designer had an insight into this type of business because there are specific requirements of clothes which are needed by those in the wheelchair. Accidents mostly are culprits to sending one into the wheelchair even if it is just temporary and while in such a condition, one may want to feel comfortable in the most fashionable way. Feldman (2016, August 10).
Type of Business and Market Served
The business is geared towards serving those who have a great sense of style even though they use wheelchairs. They could be sporting personalities, fashionable teenagers or the elderly who may need custom made cloths to suit their needs. There is an estimation of 3.2 million people who move around by wheelchairs in the United States with many more globally; this would provide a substantial market that would warrant worthwhile business venture. However, it may be harder for the designer to define what kind of market she has basing on the number of teenagers who use wheel chairs and have a sense of fashion and style and the elderly population who belong to the assisted communities.
The business has estimated average annual sales of $ 1 million for the past 7 years and she has been thinking more on taking more strategies on marketing it. Feldman (2016, August 10). Points out that there are several people out there who love fashion and have a great sense for what they like and what they dislike; such people may be gymnast who may have spinal injury during their completion or practice. They would love to stay in the spotlight; hence there is a great opportunity to provide them with a line of clothing which suits their individual needs. Venturing into this line of cloths production could be successful to the entrepreneur since it seems to be an ignored market segment. Feldman (2016, August 10) points out that business with a successful marketing strategy and a less market completion is likely to succeed immensely.
Initial Business Finance
The business was initially financed by the ploughed back profits from the initial line of designing clothes for some renowned celebrities. There was also a slight contribution from other business associates who contributed a slight share to get the business into a complete operation since there was a lot of brand marketing that was required.
Currently the business is performing well with an annual average profit of $ 1 million and commanding an almost global market since it is an ignored segment of the market which provides less competition. In an Interview with Feldman (2016, August 10) Calarelli points out that one of her clients would be stopped on the streets by someone to applaud on how great the coat she had was great ( the coat designed by Calerelli). Feldman (2016, August 10) points out that such public views could give such an individual a great sense of confidence and a positive feedback from a single client can bring back two more clients.
Feldman, A. (2016, August 10). Designer Starts a Brand for Wheelchair Users: Nothing out there for Younger, Fashionable People. Retrieved August 26, 2016, from http://www.forbes.com
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