Millions of surplus flowers are thrown away every year
Flower farms around the world destroy millions of surplus flowers each year because of inconsistent market demand for certain colors or styles. These flowers are perfect -- they’re the same designer flowers that go to to Hollywood homes, high-end hotels, and royal palaces-- but they are considered waste because they bloomed in the off-season. This translates to hundreds of millions of dollars lost every year, not counting the waste of fresh water and human resources.
Meanwhile, people forego purchasing high-quality diverse flowers because they are expensive. They resort to common lower-quality supermarket flowers or pre-made online bouquets. They have little knowledge as to what the flowers are, where they're from and how to arrange them. Yet, research shows that flowers are among the only things that instantly make us happy and productive.
For businesses, plant and flower displays make a big difference. Live plants and flowers are critical to user ratings and commercial success for hospitality and real estate. In workplaces and storefronts, curated flowers enhance both team and customer experience. Yet, professional florists come with an expensive price tag and can cause a financial and logistical burden. Without access to affordably priced floral arrangements, many businesses lose out on the benefits that flowers provide.
It's By U: Developing a marketplace for flower growers to sell their surplus flowers to the public
We have proven that there is a demand for the excess farm flowers through our do-it-yourself floral subscription boxes that are curated from flowers that would normally be wasted.
We have sold over 1million stems B2C and are rolling out B2B this year. Through our site, customers will get to know the eco-friendly, fair-trade farms, order subscription flower deliveries from them, and then be able to create their own arrangements.
It's By U subscriptions also provide economic advantages for businesses, including increased productivity, good feelings, and repeat customers.
Stress-free flower arranging subscriptions
Unique and beautiful flower arrangements that anyone can make.
Once customers select their style, we ship them a kit containing a designer vessel and the necessary floral arrangement equipment. All they have to do is follow our video tutorials to bring their vision to life.
What's In A Kit
We have already rescued millions of stems
It’s By U has tapped into the creative energies of individuals and businesses.
- Since the launch of our subscriptions in Spring 2018, we are approaching $500K in revenue with no paid marketing.
- We have built a loyal base of customers who stay on with us for an average of 9 subscription deliveries.
- Partnership with Iron Chef David Burke and his team to represent It's By U to the hospitality and restaurant industry
- Over 80% of customers are return purchasers. The LTV of our customers is $450.
It's By U has been featured in Oprah Magazine and on "Good Morning America," "The View," Univision, and QVC.
Addressing two key audiences
It’s By U serves two principal clients: (1) individuals eager to try something new and creative to decorate their space, and (2) businesses looking to solve their decorating problems quickly and effectively.
Our B2C customer is: predominantly female, college-educated, urban/suburban, crafty/DIY, likes to cook, income>$50K. 70M people in the US fit this profile.
Our B2B Customer is a large and growing audience.
Field to Vase
By sending flowers directly to our customers' doors from the farm, we cut out the middlemen. We save our customers at least 50% of the cost they’d spend on traditional florists.
Our revenue has grown by almost 50% year over year and we are projecting to double in 2020. We foresee continued steady growth throughout the year as direct to consumer becomes one of the only ways to purchase flowers given retail florists' store closures.
$1.6B captureable market
The US floral market will be $16B by 2023 and is growing at a CAGR of 6%. Since we service individuals and businesses, we believe that we can capture 10% of this market, or $1.6B.
The Market: B2C
- DIY flower arranging is the #1 trend in the floral industry.
- 40% of Americans buy botanical decor for the home every year.
- 22 million Americans have made at least one floral craft for their home in the past year.
The Market: B2B
- 80% of botanical decor sales are commercial.
- Live plants and flowers are a requirement for hospitality properties to earn a 3-5 diamond AAA rating or a 4-5 star Forbes Travel Guide rating.
- $2K/month is the average luxe restaurant florist spend on flowers and plant.
- $5K/month is the average luxe hotel florist spend on flowers/plants.
First mover in $48B market
It’s By U is one of the only companies that connects customers directly to flower farms and then gives them everything they need to make their own arrangements on a subscription basis. Our proprietary products, exclusive relationships in the industry, grower incentives, and established infrastructure give us an advantage over the competition.
Bringing an end to floral waste
The floral industry is desperately in need of change and the time is NOW. By creating an online marketplace for farms to easily sell their flowers and kits so that customers can easily make designs, we are opening up the world of flowers as never before, making them more accessible and affordable. We envision a zero-waste floral world where everyone can enjoy more flowers more often.
With this new round of capital that we are raising, we will fully be developing the floral marketplace on our site, hiring a seasoned management team, and creating amazing new product. In the near future, we will further grow our partnerships with QVC, Cox Communication, Univision and others so that It's By U continues to be visible on traditional TV platforms. We will also be investing in online and direct mail marketing campaigns to entice customers to welcome nature into their homes. By Q4, we will fully be rolling our B2B subscriptions to restaurants and the hospitality industry.
$1.1M in funding to date
We've secured over $1.1M in funding today from prominent investors, including the Target Corporation, Techstars, Backstage Capital, Chloe Capital, and prominent female angel investors.