We hope this holiday month finds you and your loved ones safe and healthy.
We're exited for the prospects of what a new year will bring. Had 2020 proceeded without a pandemic, we would have rolled out our REG A equity raise in October of this year. As this year has been a challenge to everyone, in one form or another, we have decided to delay our large scale public offering until June of 2021.
In preparation for June, our Regulation A equity raise is already in motion, with our attorney preparing the documents for filing with the SEC.
In the 2019 REG CF that you participated in, we offered a share price of $2 per share. We expect our REG A to be a much bigger offering, and we anticipate share prices somewhere in the $5-$10 per share range, if things keep going as they are.
In the meantime, to bridge the gap between now and June, we are opening a private equity REG D round. This is open to accredited investors only. If you would like information about this, please email me at email@example.com and I will email you the information.
The purpose of this private Reg D is to help get the company through COVID19 and to bridge the gap between now and the public offering Reg A that is scheduled for June of 2021. While we have experienced positive growth during 2020, we have also faced the struggles that many small businesses have been facing this year, and are continuing to raise capital as we continue building momentum with the brand.
As we come to a close of 2020, and happily leave this year behind us, we are pleased to announce that we have nearly doubled the revenue generated from our on-line store year over year since 2018. In 2018, we brought in $80,996 through our on-line store. In 2019 it rose to $394,744. This year, that number is $644,749 YTD.
We are confident that we would have done better if not for COVID, but we have powered through the challenges, still managed growth, and made two key hires in Chad Frerichs (VP) and Benji Rothenberg (Customer Support + Admin).
For the past three years, we have been working with RubyHas, a fulfillment company located in Kentucky. While they have been a decent partner, we are transitioning away from RubyHas, so we can ensure the best customer experience. We can also eliminate the fees that RubyHas charges, and save on postage with our Shopify partnership status.
Moving to in-house fulfillment enables us to provide one more layer of quality-control before shipping out the garment. It lets us customize the packaging to provide an elevated customer experience, adjust shipping methods to ensure the cheapest carrier, removes the storage fees, as well as the packing and admin fees that really add up.
We will continue to ship our overseas-made products (Voyageurs II Jacket, Adv3nture Backpacks) from RubyHas until they are gone, as we transition to shipping entirely in-house.
BRICK & MORTAR
Fulfillment has already started at our physical location in Seattle, Washington. This brick & mortar location, in the Phinney Ridge neighborhood of Seattle, will serve as our warehouse and fulfillment center. All of our American-made products (t-shirts, hats, bandanas, hoodies) have already begun shipping from our Seattle store. Our location will also enable us to have a small retail showroom, where people can come and check out the product first-hand, purchase products, and meet our staff.
Once COVID restrictions are lifted (hopefully in early 2021), you will be invited to our investor-only event to kick off the opening of our retail store. Beer to be provided by Lowercase Brewing in Seattle. (They don’t know about that yet, but as investors, they do now!)
We’ve been powering through COVID-related slowdowns and shutdowns as best as we can. While our manufacturing partner has not shut down, there have been issues with the cotton supplier, which we were able to successfully handle last month, and the dye house, which is currently log-jammed.
While we accounted for some COVID-related challenges from day one, we could not foresee the vast issues that have been presented by the State of California and in the City of Los Angeles, where our hoodies are cut, sewn and dyed.
That being said, we have begun to ship the Half Dome Grey Adv3nture Hoodies, since that particular fabric is pre-dyed and does not go through the dye house. The responses that we have gotten from the customers that have received them has been very positive.
Hopefully you’ve visited our new website. We’ve been working hard behind-the-scenes to elevate our customer experience, from the moment they hit Adv3nture.com, to when the product arrives at their door.
We partnered with XO Pandora to revamp the website, add various “abandoned cart” emails, and implemented several digital solutions for the customer experience. While something like is always a work in progress, we owe gratitude to Jake Stansky and his team for helping us to elevate the brand as proficiently as they have.
Thank you all who helped make our Small Business Saturday sale a great success. If you find yourself, or family and friends could still use some more Adv3nture gear, don’t hesitate to use our special investor discount code VIP20 for 20% off Adv3nture and Secret Store merchandise. This code expires 12/18 and excludes the Voyageurs II Jacket and Adv3nture Packs as they are already discounted 50%!
Wishing you all happy and healthy holidays, and a fantastic end to this dumpster fire of a year!
Wishing you a healthy and happy holidays.
Founder & CEO