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Invest in BO&NIC
Help us offer athletic women around the world fashionable, functional, versatile apparel
There is currently a large void in the global women's marketplace for functional / fashionable golf and plus size apparel that no other apparel brand is addressing. We want to offer global women of all sizes great apparel options to achieve their sport passions.
Nick Solazzo
Founder @ BO&NIC
Early Bird Terms: $34,900 Left
$100
of a $50,000-$107,000 goal
Invest via a
Convertible Note
$2M$1.75Mvaluation cap
First $35K will invest in a convertible note with a $1.75M valuation cap and 20% discount.
8%interest
20.0%discount
$50K+pro rata right threshold
A Convertible Note is debt that converts to equity. If you invest, you're betting the company will be worth more than $1.75M in the future.
Held in Escrow & Refundable. BO&NIC must raise $50,000 to get funded. Wefunder Portal LLC can refund upon request while funds are in escrow.
Why you may want to invest in us...
| 1 | Established Women's Athletic Fashion Brand |
| 2 | Addressing a void in the Women's Global Golf Apparel market with versatile, functional products |
| 3 | Year round, global, e-commerce business with multiple sport and fashion cross over revenue growth opportunities |
Our Team
And Our Major Accomplishments
Scott Brown
CEO
Key Leader in Creating , Designing, Implementing and growing the NIKEiD Customization and Personalization Vertical for Nike, Inc.
Some of our investors
In the news
BO&NIC
The official YouTube channel for BO&NIC. Love Life. Live Fashionably. BO&NIC... Simple elegant fashion designed with a modern, yet classic attitude. Eye catc...
February 16, 2020
@ youtube.com
Downloads
Investor Q&A
What does your company do?
BO&NIC is a women's sport fashion apparel company based in New York and Portland, our Hallmark of the brand is a 4-way stretch jersey fabricWe offer global athletic women a fashionable, functional and versatile apparel collection that includes tops, bottoms and dresses
Where will your company be in 5 years?
We hope to reach $10M in total revenue with a fashionable, functional women's apparel collection focused on addressing a current void in the global Golf and Plus size markets. These figures are forward-looking and cannot be guaranteed.
Why did you choose this idea?
Why is this a good idea, right now? What changed in the world? Why wasn't this done a few years ago?
What is your proudest accomplishment?
How far along are you? What's your biggest obstacle?
Who are your competitors? Who is the biggest threat?
What do you understand that your competitors don't?
How will you make money?
What are the biggest risks? If you fail, what would be the reason? What has to go right for you to succeed?
What do you need the most help with?
What would you do with the money you raise?
Financials
BO&NIC has financial statements ending December 31 2019. Our cash in hand is $2,500, as of December 2019. Over the three months prior, revenues averaged $2,000/month, cost of goods sold has averaged $0/month, and operational expenses have averaged $1,500/month.
At a Glance
May 24
to December 31
$21,362
Revenue
$1,960
Net Profit
$0
Short Term Debt
$58,475
Raised in 2019
$2,500
Cash on Hand
As of 12/31/19
As of 12/31/19
A note from Wefunder. Unlike companies on the NASDAQ, early-stage startups have little operating history. Financial analysis is not as useful when there is limited data. It's more important to predict the size of the future market. If the founder achieves their vision, will enough customers pay the company enough money?
It's also common for fast-growing startups to lose money even faster: they are investing in future growth. In these cases, it's often better to check if the Cost of User Acquisition (CAC) is lower than the Lifetime Value (LTV) of that customer. If one spends $1000 today to make $10,000 over the next five years, that may be a smart bet. Amazon is a famous example of re-investing potential profits to maximize growth over 20 years.
It's also common for fast-growing startups to lose money even faster: they are investing in future growth. In these cases, it's often better to check if the Cost of User Acquisition (CAC) is lower than the Lifetime Value (LTV) of that customer. If one spends $1000 today to make $10,000 over the next five years, that may be a smart bet. Amazon is a famous example of re-investing potential profits to maximize growth over 20 years.
Net Margin:
9%
9%
Gross Margin:
69%
69%
Return on Assets:
3%
3%
Earnings per Share:
N/A
N/A
Revenue per Employee:
$5,340
$5,340
Cash to Assets:
0%
0%
Revenue to Receivables:
2,067%
2,067%
Debt Ratio:
87%
87%
NicksSportsLLCFinancialStatementPackage2019.pdf
Risks
| 1 | Consumer product demand could shift away from interest in our product which would directly impact our revenue projections and require additional product design to meet new demand trends. |
| 2 | A competing brand apparel company identifies a similar product opportunity and saturates the market, under prices our brand. |
| 3 | Cost for raw materials and finished product manufacturing could shift to a more expensive model which would impact our margins and revenue projections. |
The Board of Directors
| Director | Occupation | Joined |
|---|---|---|
| Scott Brown | CEO @ BO&NIC | 2019 |
| Glenn Smith | CFO @ BO&NIC | 2019 |
| Nick Solazzo | Founder @ BO&NIC | 2019 |
Officers
| Officer | Title | Joined |
|---|---|---|
| Scott Brown | President CEO | 2019 |
| Stephanie Conover | VP Marketing / Social Media Specialist | 2019 |
| Glenn Smith | CFO | 2019 |
| Nick Solazzo | Founder | 2019 |
Voting Power
| Holder | Securities Held | Voting Power |
|---|---|---|
| Scott Brown | Membership Interest | 46.0% |
| Glenn Smith | Membership Interest | 35.0% |
Past Equity Fundraises
| Date | Amount | Security |
|---|---|---|
| $100 | Convertible Note | |
| 03/2019 | $31,475 | Loan |
| 04/2019 | $7,000 | Convertible Note |
| 05/2019 | $20,000 | Convertible Note |
Convertible Notes Outstanding
| Issued | Amount | Valuation Cap |
|---|---|---|
| 04/24/2019 | $7,000 | |
| 05/24/2019 | $20,000 | None |
Outstanding Debts
| Lender | Oustanding | Interest |
|---|---|---|
| Carol Whitehead | $36,100 | 24.0% |
Related Party Transactions
Use of Funds
| $50,000 | 93% E-commerce and associated social media marketing, 7% Wefunder intermediary fee |
| $107,000 | 23% E-commerce direct to consumer, 15% to pay off outstanding loans, 20% Brand Marketing, 15% Inventory, 10% QVC product development and production, 10% HSN product development and production, 7% Wefunder intermediary fee |
Capital Structure
This is an LLC with no issued units.The Funding Portal
BO&NIC is conducting a Regulation Crowdfunding offering via Wefunder Portal LLC. CRD Number: #283503.Form C Filing on EDGAR
The Securities and Exchange Commission hosts the official Form C on their EDGAR web site.
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1) These numbers include startups currently live on Wefunder if they pass their minimum target.
2) Some startups use two different laws at the same time (i.e., Regulation D and Regulation Crowdfunding).
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