SnSLabz is owned and operated by 15 year old entrepreneurs, Daniel Stillson and Carter Schuurmans. The dream started when we were thinking of what we could do when we grow up. We threw around ideas, and it came to us! We have a 3-D printer let's make and sell things. It all went up hill from there!
SnSLabz is focused on the growing market sector professionally known as "eSports". SnSLabz looked at the market, and developed a good idea and made it great! Our company is unique because we offer sponsorship opportunities to eSports gaming teams. This collaboration allows them to sell any SnSLabz product, with their team logo on it to their fans.
We have the ability with the 3D printers to design any type of logo on any of our products. Our current products include, multi-purpose cell phone, game controller and headphone stands. When we conducted market research it was discovered that a popular way eSports teams create revenue, is by selling their team jersey. Teams sell there jerseys for $60-100, which is a lot of money for someone who has a small budget.
As young entrepreneurs, we identified that all fans of eSports teams should be able to purchase a team product. This is when SnSLabz entered the market of eSports. Our high quality controller stands, cost $0.50 each to manufacture and they retail for $8.00. Through a sponsorship contract with SnSLabz, a team can get a reduced cost for our products. The sponsorship cost for teams per item is lower than retail price depending on the quantity of items they purchase.
With our marketing strategy to these organizations, we identified that this will increase the sales of their customized, affordable team products. The end result is that increased sales and exposure to a wider customer base allows their team to gain traction, which will increase the need for more product. This ultimately means increased sales for our business as well.
Our product, the "Controller Stand" is currently in a subscription box service known as "AirDropCrates", a very popular gaming subscription box service. We have placed AirDropCrate's logo onto our controller stand and have sold them 80 units for $2.20 each.
Esports gaming revenue is expected to rise from $906 million in 2018 to $1.65 billion in 2021. There is no competition for 3D printed customized headset, game controller, or phone stands. Due to the opportunity for growth with eSports teams, we are expanding into two divisions as of fall 2018. These divisions will be SnSLabz 3D printing accessories, and SnSPadz which is customized mouse pads.
SnSPadz has the same business strategy, as SnSLabz. We will create and sell customized mouse pads, with the logo of the team right in the center for everyone to see. We are aiming our attention on the bulk buyers, eSports teams looking to resell and make some profit.
The manufacturing cost for each mouse pad is $4.00 to create, this includes the ink, mouse pad, and transfer paper. We sell each mouse pad for $8.00 each, if a team purchases 50 or more mouse pads, their cost is reduced to $7.00 each. Our customers have an opportunity to receive free shipping with the purchase of 10 or more mouse pads.
This is just the beginning of SnSLabz in the business industry. We are young entrepreneurs, and have many big ideas to come! It is our goal to continue developing and growing our business through college and beyond. Ways we can expand our company is to purchase additional printers and sell products in large retail stores. Expansion products that we are looking at adding include: kitchen, car, seasonal decorating, and bathroom accessories.
We are applying for the Dream Big, Grow Here grant to purchase multiple 3D printers, so we can process orders faster to our customers. We are seeing an increase in our growth at a faster than expected rate, and we will need the additional printers, printing, and heat press supplies to keep up with the high demand of our eSport sponsorship's, as well as general sales.