After our failed Kickstarter campaign I took some time to regroup and reassess my business plan. I heard an overwhelming amount of encouragement from around the world, which means I do not feel ready to throw in the towel. I also heard two messages about what I could change to meet the needs of my customers and I have spent some time making a new plan for moving forward. Now I am ready to work on a re-launch with two things in mind:
This is what you can expect with regard to these two points.
All Profit Will Be Donated
Because of the way I'm governing Rainbow Hats, LLC, we are not a non-profit corporation, i.e. one that raises money for a specific cause and reinvests all profit into growing/maintaining the company. That being said, I am not launching this business to make money on other people's losses. All profit will be donated.
To what organizations will the profit be donated? I will donate to local, national, and international charities that support children, women, and families. I am open to recommendations from fans and customers (a few people have voted for Kiva and Return to Zero) but I will likely start with local Colorado organizations like A Precious Child, the Patchwork School, and the Safehouse Alliance.
New Product, New Reduced Price
Due to the enormous amount of labor in making knit hats, the price was too high for my original design and I am redesigning the product. Instead of knit or crochet, I will sew them. So the first order of business is to find rainbow fabric...which has turned out to be harder than one might imagine - I have to create my own fabric.
I've ruled out dying my own fabric and have chosen to design my own using Spoonflower. To get started, I ordered sample fabrics and a sample color palette. My daughter and I sorted colors and designed some fabric. Then I spent a day developing a sewing pattern that I LOVED and test-fitting some local models.
Next I will be printing the fabric and building inventory!