Quote:
Originally Posted by Bocaraton
I am almost sure that if i find an Angel, it will be someone who has knowledge about the lingerie market and is already involved in this market.
The problem is that in the US, there are almost nobody interested in this market... Victoria's Secret has no competitors! And my experience shows me that Angels don't want to take risk until you can show them that you have at least one store doing good sales. And it is impossible to show them example of other stores which got success, because there are NO competitors.... But maybe they think it is crazy to want to compete with Victoria's Secret?
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well...you're right about one point and possibly somewhat mistaken about another
in 2006, there would have been made well over $100billion dollars in angel investment in US (the bulk of it in California, Massachusetts and new york)...approximately 10 times that of VC investment
now....the bulk of this investment was in the form of expansion capital transferred between friends and friends of friends. so you're right...your typical investor would be a semi retired lingerie retailer/wholesaler looking for tax deductions/ and/or diversification and/or a protege/successor
now, what you're mistaken about is "maybe they think it is crazy to want to compete with Victoria's Secret". there's nothing wrong with backing a company that seeks to get a share in a mature market at the expense of an incumbent
what is highly unlikely is backing a startup which seeks to compete in a competitive market without a competitive advantage. that's a problem that you have. most founders tend to assume that having some kind of differentiated/exclusive/interesting product is a form of competitive advantage
it isn't
simply put, you don't have a competitive advantage. what you possibly have is an interesting value proposition, but an interesting value proposition is certainly not something that wins market share.
you'd wanna look at
scott maxwell's analysis to resolve this problem..
look, if you wanna get this venture off the ground I can talk you thought it, but it's certainly gonna require more effort from you than just posting some thoughts on some internet forum