Your browser is old and unsupported. Please upgrade!

BO&NIC

Help us offer athletic women around the world fashionable, functional, versatile apparel

BO&NIC

Help us offer athletic women around the world fashionable, functional, versatile apparel

Portland OR
Retail Athletes Leisure Health and Fitness Fundraising
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
Last Funded August 2020!

$58,475
total funds raised

  • About
  • Updates 0
  • Reviews0
  • Ask a Question 1

Why you may want to support 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
we've raised $58,475 since our founding

Our team

Scott Brown
CEO
Key Leader in Creating , Designing, Implementing and growing the NIKEiD Customization and Personalization Vertical for Nike, Inc.
Nick Solazzo
Founder
30 years designing prints for active wear companies such as Nike, Danskin, Adidas, etc.
Stephanie Conover
VP Marketing and Merchandising
E-commerce, Social Media, and Merchandising. 20 years of experience in luxury retail including positions at Saks Fifth Avenue, Valentino, Giorgio Armani, Tory Burch, and Derek Lam.

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
February 7, 2020 @ https

Downloads

BO NICwf.pdf
Portland OR
retail athletes leisure health and fitness fundraising

An overview of BO&NIC

Superior golf apparel for today’s fashionable, active woman.

The team at BO&NIC, is very excited to offer global women golfers and ultimately tennis players, what we believe to be the first fashionable and functional apparel line.

This starts with a proven and highly adaptable line of golf skorts that gracefully transition from active use on the golf course to a fashion forward evening out. Enabling us to address an open and presently untapped global opportunity with a market of over 30 million female golfers. Propelling us forward with the introduction of new silhouettes, complimentary tops, plus sizes and cross over styles for the millions of tennis enthusiasts.

Achieving this is a highly experienced team with decades of global Fortune 500 design, product, innovation, merchandising, sales, operations, supply chain and e-commerce successes. We personally invite you to review our product selection via the site link below and will look forward to discussing carrying our product.

Sincerely,

Nicholas Solazzo | Founder

Scott Brown | CEO

Web Page - come visit our product.  We bet you won't be able to leave without buying something.

https://boandnic.com

Why have we refreshed BO&NIC -- We saw a void in the Market

  • Created 2019 by Founder Nicholas Solazzo. 30 years designing prints for active wear companies such as Nike Inc., Danskin, Adidas, etc.
  • Existing golf skorts are uncomfortable and lose their shape after a few wears due to an inferior fabric.
  • Prints look faded and washed out due to the poor fabric quality.
  • None of the competition including athletic apparel companies such as Nike, Adidas, Athleta to fashion companies such as Tory Burch, Kate Spade and Lily Pulitzer offer a high quality skort.

What is BO&NIC

  • A Women’s athletic fashion apparel company based in New York & Portland, Oregon.
  • Hallmark of the brand is a 4-way stretch jersey fabric.
  • Exclusive access to a proprietary print library of over 10,500 print designs.
  • PGA regulation length golf skort with pockets is the key silhouette of the collection.

The Growth Opportunity – is a lot larger than you might think and a global one.

  • Annual sales of golf equipment, apparel & media is $6 billion in the U.S.
  • 5 million female golfers in the USA with cross-over opportunities with Tennis consumers that are double this number.
  • 30 million female golfers worldwide
  • Year-round, global sport

The Competition – they are out there but not in this market segment (in our opinion).

They are focused on athletic sport product while our company is Fashion oriented with higher quality product, at same to lower price points.



Strategic Plan for Growth – what we’ll do with the $$’s post funding raise.

  • Phase 1 - Ecommerce 
    • Make necessary website changes to align with and support Crowd Funding Campaign (e.g. Product, contact information, link to Crowd platform, etc)
    • Review Social Media strategy and implement focused campaign to support website. (e.g. Twitter, LinkedIn, Facebook, etc)
    • Drive SEO strategy (e.g. Google ad words, etc)
    • Review and drive necessary plans to support increased product sales. (e.g. Raw materials sourcing, finished product manufacturing, pick & pack distribution, etc)
  • Phase 2 - Expand distribution to Retail 
    • Engage with specialty retailers, develop strategic relationships
    • Actively engage with HSN & QVC to leverage existing license to retail product
    • Sign on independent Sales Reps – focused by geography
  • Phase 3 - Plus Size Products 
    • Target Spring 2020 for release of Plus sizing – website & retail
  • Phase 4 - New Styles & Designs 
    • Release new products to market for Spring
    • Review expanding Skort product line to include….tops, new silhouettes, etc.

Revenue Opportunity – conservatively, we think it's large.

  • $27,000 in revenue to date – since inception
  • Year 1 projection of $250,000 – post funding raise
  • Year 2 projection of $800,000 
  • Year 3 projection of $1.2M
  • Year 4 projection of +$3M
  • (These figures are projected and cannot be guaranteed)

Customer Testimonials – don’t just believe us our product is GREAT

“I LOVE my SKORT. Not only is it comfortable, it is versatile and interchangeable. You can exercise in them, bike ride, wear them to breakfast, lunch and dinner. The best is you can swim in the ocean and even jet ski in them!! Dries in seconds, travels perfectly and great prints.” ~Trish, NJ

“I love the skort and am wearing the leopard today!” ~Cheryl, NJ

“So easy to pack!” ~ Deanna, TX

“I love your products” ~ Judy, OH

“…exactly what I am looking for” ~Nancy, MA

“The fabric is so comfortable” ~Jean, CT

“. . .in Belize! These clothes are perfect for traveling!!” ~Maryanne

The Team - Industry experts from a wide range of Fortune 500 companies have come together to lead this company with over 135 cumulative years of fashion and sports / fitness experience.

  • Nicholas Solazzo / Founder. 30 years designing prints for active wear companies such as Nike, Danskin, Adidas, etc.
  • Scott Brown / CEO. Business Operations, Sales, Distribution, Logistics, Supply Chain, and Finance. 28 years of experience in international retail, sales, product sourcing/manufacturing, E-commerce, logistics, distribution, consulting, and technology industries.
  • Stephanie Conover / VP Merchandising & Marketing. E-commerce, Social Media, and Merchandising. 20 years of experience in luxury retail including positions at Saks Fifth Avenue, Valentino, Giorgio Armani, Tory Burch, and Derek Lam.
  • Kristine Lebow / Senior Clothing Design. 30 years of design and merchandising experience in athletic apparel.
  • Pete Olson / Sales. Wholesale Distribution. 20 years owning his national golf sales company.

Investor Q&A

Expand all
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?
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. 
Why is this a good idea, right now? What changed in the world? Why wasn't this done a few years ago?
Existing golf shorts are uncomfortable and lose their shape after a few wears due to inferior fabric.  Prints look faded and washed out due to poor quality. None of the competitors including athletic companies such as Nike, Adidas, Athleta to fashion companies such as Tory Burch, Kate Spade and Lily Pulitzer offer a high quality skort. 
What is your proudest accomplishment?
Approved vendor and successfully executed multiple product offerings with HSN / QVC. Far from an easy task and something we plan to leverage going forward for added brand awareness and sales. 
How far along are you? What's your biggest obstacle?
Our brand is 3 years old and established. That said, we have recently reconfigured leadership, secured key personnel to achieve strategic growth and are looking for funding to fully implement / execute scaling the business. 
Who are your competitors? Who is the biggest threat?
The competition is Athleta, Luluemon, Tory Birch and Nike.  As we focus on athletic fashion apparel it limits our threat competition to Tory Birch and other smaller niche fashion oriented brands. 
What do you understand that your competitors don't?
Women's athletic fashion apparel styling, materials, plus size fit and design of collections that cross over between athletic wear use and every day fashion utilization. 
How will you make money?
Our gross margins are +60% with an e-commerce direct to consumer model.   We have over 10,000 designs and patterns in our library for the next few years of product development at no cost - dramatically reducing overhead. 
What are the biggest risks? If you fail, what would be the reason? What has to go right for you to succeed?
Maintaining and growing brand awareness.  Maintaining, managing production costs to drive maximized gross margins.  If we fail, it will be due to lack of funding to scale our business coupled with a lack of efficient, strategic marketing efforts.  To succeed, we will have ample funding to scale operations, achieve supply chain efficiencies, drive successful brand marketing and global consumer awareness. 
What do you need the most help with?
Raising ample funding. 
What would you do with the money you raise?
We will apply funding to scale operations, achieve supply chain efficiencies, drive successful brand marketing and global consumer awareness. 

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
Income
Balance
Narrative
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.
Net Margin:
9%
Gross Margin:
69%
Return on Assets:
3%
Earnings per Share:
N/A
Revenue per Employee:
$5,340
Cash to Assets:
0%
Revenue to Receivables:
2,067%
Debt Ratio:
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. 
4

The company fails to earn a profit prior to becoming insolvent. This will occur should we not secure sufficient inventor funding to enable growth success. 
5

Our future success depends on the efforts of a small management team. The loss of services of the members of the management team may have an adverse effect on the company. There can be no assurance that we will be successful in attracting and retaining other personnel we require to successfully grow our business.
6

Without investor funding Scott Brown is a part-time officer. As such, it is likely that the company will not make the same progress as it would if that were not the case.
7

Without investor funding Glenn Smith is a part-time officer. As such, it is likely that the company will not make the same progress as it would if that were not the case.
8

Without investor funding Stephanie Conover is a part-time officer. As such, it is likely that the company will not make the same progress as it would if that were not the case.

Details

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 Interest Discount Valuation Cap Maturity
04/24/2019 $7,000 0.0% 04/24/2020
05/24/2019 $20,000 24.0% 0.0% None 12/21/2021

Outstanding Debts

Lender Issued Amount Oustanding Interest Maturity Current?
Carol Whitehead 03/18/2019 $31,475 $36,100 24.0% 03/18/2020 Yes

Related Party Transactions

NameScott Brown
Amount Invested$20,000
Transaction typeConvertible Note
Issued05/24/2019
Interest24.0 per annum
Discount rate0.0
Maturity12/21/2021
Valuation capNone
RelationshipCompany Leadership Member

N/A

 
NameGlenn Smith
Amount Invested$7,000
Transaction typeConvertible Note
Issued05/24/2019
Interest8.0 per annum
Discount rate0.0
Maturity04/24/2020
Valuation capNone
RelationshipExecutive Leadership Member

N/A

 

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.

Form C Filing on EDGAR

The Securities and Exchange Commission hosts the official Form C on their EDGAR web site.




Ask a Question

Overview
Story
Traction
Investor Q&A
Financials
Risks
Details
← Back
About us
Our Profile
Jobs
Press
Blog
Charter
Investors
Getting Started
Risks
Earning Returns
Funds
Give/Get $2500
Founders
Raise Money
FAQ
Legal Primer
Deals
Fundraising Playbook
Say Hello
hello@wefunder.com
Twitter
Facebook
Instagram
888-546-0325
San Francisco
wefunder.com/boandnic is managed by Wefunder Portal LLC. Wefunder Inc. runs wefunder.com and is the parent company of Wefunder Advisors LLC and Wefunder Portal LLC. Wefunder Advisors is an exempt reporting adviser that advises SPVs used in Reg D offerings. Wefunder Portal is a funding portal (CRD #283503) that operates sections of wefunder.com where some Regulation Crowdfunding offerings are made. Wefunder, Inc. operates sections of wefunder.com where some Regulation D and A offerings are made. Wefunder, Inc. is not regulated as either a broker-dealer or funding portal and is not a member of FINRA. By using wefunder.com, you accept our Terms & Privacy Policy. If investing, you accept our Investor Agreement. You may also view our Privacy Notice.
Wefunder, Inc., Wefunder Advisors LLC, and Wefunder Portal LLC do not review user-generated content beyond what's required by US law. Some user-generated content, including investor biographical information, may not be accurate.

Already have a Wefunder account? Login

Don't have a Wefunder account? Signup

Privacy: We won’t share your data with Facebook without your explicit permission.
— or —
Explore Activity FAQ Raise Money
Login Sign Up