This business was created after the death of my Grandfather. When he passed away, I wanted to find a way for my family to embrace his special memories. I took some of his favorite shirts, pants and some handkerchiefs, and turned these pieces into teddy bears for each member of the family. We called them Memory Bears. I found that families were looking for a way to embrace the memories of their loved ones or those special moments in their lives. Memory Bears give them the opportunity to have their special memories made into a one-ofa- kind heirloom teddy bear, which can be created from items such as wedding dresses, baby blankets, fur coats, etc. The possibilities are endless and each bear is unique.
Flowers will wither way and eventually die but a Memory Bear will last a lifetime. Show family, friends and loved ones that you care by giving such a unique gift during their time of loss.
This product is hard to market due to the fact that most orders are received online through our website. Our future goals include focusing in on specific demographics where the product is needed, including funeral homes and hospitals, as well as bridal stores and baby boutiques.
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In general, I really like the concept for Creative Treasures. I think overall market potential is quite expansive. There are a few things that I’d encourage Shannon to consider. First, while the name of the business is fitting, it’s not particularly unique. A quick search reveals a number of similar types of businesses by the same name, so she might look for a more unique name to help establish her brand and lead to quicker hits in online searches. Second, given that most of Shannon’s business is conducted online, spending some money to make the online experience as welcoming, professional and simple as possible would be a good investment.
Third, while the business was born out of the loss of a loved one, I think Shannon rightly points out that her creations are appropriate keepsakes for many types of events and occasions. Rather than framing the brand with a primary focus on lost loved ones, it can be crafted as a trusted source of heirlooms for all the important occasions and people in our lives. I like that she is currently focused on just one type of product but as she builds for the long-term, I would encourage her to think about how to not only scale the volume of teddy bears she could make, but also what types of additional product line extensions she could offer to appeal to an even broader audience.
Matt Dunbar
Managing Partner, Upstate Carolina Angel Network
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Shannon does here what I see many business owners fail to do when they pitch their business concept or idea—she effectively expresses the need or void her product fills. Immediately following up with telling how her Memory Bears are the solution to the previously mentioned need is the way to verbalize that there is a legitimate demand for what she does.
I would, however, tweak a couple of things in her pitch. In her opening statement, after telling the name of the business, I think she needs to briefly add what Creative Treasures does or sells. And last toward the end, I see where she’s attempting to describe the challenge of marketing to a potentially grieving end customer and the solution of targeting the funeral industry and hospitals. I’m not sure if that was clearly communicated.
Tony Snipes
Small Business Advisor, Business Black Box
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