How I Started Something Borrowed NY Without A Technical Co-Founder (And Why I Want One Now)

Published on: December 28, 2011  

Tags: Brittany Haas, Solo Founder, Something Borrowed NY, Startup Lessons Learned

 

By Brittany Haas (Co-Founder, Something Borrowed NY)

It all started with four sisters. Being the youngest, I watched my older sisters struggle with buying a dress that cost them more than one month’s rent. Beyond the heartbreak of spending that much on one item, it can only be worn once, and you need to find space to store it in your 400 sq ft apartment.

Hence Something Borrowed NY was born. We wanted to rent designer bridal gowns from a store in NYC to brides like us; ones who loved high fashion, hated the price tag, and didn’t value the possession of a one-time wear item.

I recruited a college friend of mine who was in the bridal industry to tackle the project with me. We contacted designers, boutique owners, gown preservationists, entrepreneurs, investors, VCs, angels…everyone! We had the 40 page business plan, a financial plan, and designers ready to sell.

The only thing we were missing was investment. Owning a store in Manhattan with multiple sizes of wedding gowns is a costly venture. As we approached VCs and angels back in the beginning of 2011, they were only focused on one word: Traction.

I understood their point. Show “proof of concept” using the least viable product — the lean startup method. No one was interested in brick and mortar, only internet based businesses. So, we pivoted.

The website for SomethingBorrowedNY was launched and rented bridal ACCESSORIES to brides all over the country (and the UK) for their wedding day. Although women don’t necessarily value the possession of their gown, we believe they still value the experience of finding “the dress” with their friends and family in a boutique setting. Focusing on accessories allowed us to still help brides save money, while still letting them have their traditional gown experience. The site launched with press from Martha Stewart Weddings, Bride Finds, and Refinery29.com. Yet, things were about to get harder.

My co-founder was offered an irresistible job. I was so excited for her and we’re still best friends today, but I was now left running the company on my own, while still holding a full-time job of my own. My day job keeps me busy from 9-7, and my nights are filled with networking events or working non-stop on the website, blog and logistics. I hired interns to help with social media, but the intricacies of running a business while holding a full-time job are starting to tire me out!

Thankfully, our site was launched on the platform Shopify which allows me to easily update new product to the site and use basic HTML to edit the page aesthetically. However, I’m starting to realize there ARE certain website developments that I cannot code myself.

Here are the reasons why I’m considering finding a technical co-founder:

• Investors don’t invest in people — they invest in TEAMS: I’m eager to join an incubator, or to begin fundraising again now that we have the traction we need. However, without a management team to back me up, I’ll never be able to associate with those types of crowds.
   
• I don’t have the money to hire anyone: It would be easy for me to contract a developer, a designer, a PR firm etc. to help take Something Borrowed NY to the next level, but it would require a LOT of extra money. As successful as we’ve been, we don’t have the capital to hire the team we need.
   
• It takes a lot of pressure off: It’s hard to do it all on your own! My “ex-founder” and I had a perfect “yin and yang” of playing off each other’s strengths and weaknesses. Plus it’s easier to craft an argument or prove your case when you have the assistance of others. Yet, connecting with a co-founder is an emotional relationship. It’s finding that “special someone” who you can trust to own a part of your business! That’s something that can only come with time and doesn’t usually happen with a stranger.

As of now, it’s a one-woman operation. But I know that the key to success is delegating those skills that you’re not proficient in, to others. I’m looking for people who are passionate about the concept and have the tenacity that a start-up requires. If you’re looking to become a part of our team, or know anyone who may be interested, please feel free to reach out to Brittany@somethingborrowedny.com.

Editor’s note: Got a question for our guest blogger? Leave a message in the comments below.

About the guest blogger: Brittany Haas is Co-Founder of Something Borrowed NY. Always drawing and designing, she graduated from Cornell University with a degree in Fiber Science & Apparel Design. Upon graduation she decided to learn the business side of the fashion industry. Since then, she’s gained experience as a financial planner for several top Fashion houses, and now brings her business savvy to the bridal industry. Follow her on Twitter at @brittanyhaas.

Brittany Haas Thinks it's Better to Borrow When it Comes to Weddings

Brittany Haas, Co-Founder of Something Borrowed New York, tells us how she got started in her own business through personal experience!

"Back in 2010, I entered a Daily Candy contest that challenged women to create a business for other women. I have three older sisters who each were frustrated by the expensive costs of bridal gowns and accessories; something they could only wear for one day of their lives. Even after their wedding, they tried to sell their gowns and were unsuccessful. After seeing their luxury goods hang in their hallways, collect dust and become unusable, I decided there must be a better way. Women should have the ability to rent their attire for the night and still look gorgeous with luxury items, but stay with their budget. It’s about staying within your means while giving the appearance that you spent much more.  I ended up being a runner-up in that Daily Candy contest - and was urged by other female entrepreneurs to pursue the concept as they'd all be future customers!"

"Today, “Something Borrowed NY” is the premiere online wedding shop that RENTS designer bridal accessories at a fraction of the retail price! We know that after your wedding there is really no use for your tiara (unless you’re Kate Middleton), and that most of us don’t have the space to store yards of tulle and crystal baubles.  We’re modern women who love fashion and aspire to wear gorgeous things on our special day.  But we don’t necessarily value the possession of a one-time wear item.  Partnering with designers such as “Enchanted Atelier” & “Justine M. Couture”, we’ve curated a special collection of veils, tiaras, headpieces and jewelry to “frost yourself” with for your special day.  Any minor damages are covered (please, no red velvet cake fights) and after you’re done, just ship it back to us and we’ll clean and preserve it for the next savvy bride!" If you are a bride-to-be, visit SomethingBorrowedNY.com to see what it's all about.

Alice Krause on December 08, 2011 in Entrepreneurs | Permalink

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E-Commerce Accessories Rental model Something Borrowed NY aims to disrupt the Wedding Industry’s traditions.

Name of your company and URL? Date started? Date officially launched?
“Something Borrowed NY” (www.somethingborrowedny.com) was conceptualized in January and launched in July of 2011.
What is your product or service?
“Something Borrowed NY” is the premiere online wedding shop that RENTS designer bridal accessories at a fraction of the retail price! We know that after your wedding there is really no use for your tiara (unless you’re Kate Middleton), and that most of us don’t have the space to store yards of tulle and crystal baubles.  We’re modern women who love fashion and aspire to wear gorgeous things on our special day.  But we don’t necessarily value the possession of a one-time wear item.  Partnering with designers such as “Enchanted Atelier” & “Justine M. Couture”, we’ve curated a special collection of veils, tiaras, headpieces and jewelry to “frost yourself” with for your special day.  Any minor damages are covered (please, no red velvet cake fights) and after you’re done, just ship it back to us and we’ll clean and preserve it for the next savvy bride!
Why did you start your company?
Back in 2010, I entered a Daily Candy contest that challenged women to create a business for other women.  I have three older sisters who each were frustrated by the expensive costs of bridal gowns and accessories; something they could only wear for one day of their lives.  Even after their wedding, they tried to sell their gowns and were unsuccessful.  After seeing their luxury goods hang in their hallways, collect dust and become unusable, I decided there must be a better way.  Men are able to rent their tuxes, couples rent their linens and/or dinnerwear, and most people rent a catering hall for the night.  Women should have the ability to rent their attire for the night and still look gorgeous with luxury items, but stay with their budget.  It’s about staying within your budget while giving the appearance that you spent much more.  It’s about being a savvy woman who appreciates the quality of luxury goods, but does not value the possession of an item you can literally only wear once.

Brittany Haas

How was it financed ?
Something Borrowed NY was and remains to be self-funded.  We initially went out to raise funds for a brick-and-mortar version of Something Borrowed NY that rented designer gowns.  We operate as a wholesale account, purchasing inventory DIRECTLY from designers and then renting those items to our brides.  With gowns, we realized that this would involve multiple sizes, the need for minor alterations and dress cleaning/preservation.  Although we worked out the costs and contingencies, the start-up costs incurred led us to look for external funding.  However, in the current market, most VC’s and angels are interested in e-commerce businesses that will go public in 3-5 years. Since we’ve launched there has been a significant shift after several IPO’s went bust, and I think they’re looking more towards long-term investments now.   However, it’s all about timing, and after hearing from investors that they needed traction, we decided to use the minimum viable product, rent just accessories, and do it online to reach the largest market possible.  We’re continuing in our “beta” test phase now to gain viable traction to prove our concept to investors. Our ultimate goal is to still have a brick-and mortar shops where women can still try on and experience the items for their rental.  Their wedding day is still very special and we want brides to be able to shop, feel and touch the products like they would if they were purchasing.
Do you use Social Media tools like Facebook, twitter, LinkedIn or ? Provide exact URL of each
Social Media is the number one reason our business is where it is today.  We are most successful with twitter and tumblr, but we’re also on Facebook and Youtube.  Twitter has been essential for us connecting with other vendors in the industry.  While we’re still trying to find the correct formula to connect with our customers on social media, it has enabled us to make many connections in the industry, which has only helped us to market to our client base.
blog.somethingborrowedny.com
@smthingborrowed
www.facebook.com/somethingborrowedny
http://www.youtube.com/user/SomethingBorrowedNY
YouTube -- Do you have a YouTube video URL that you can share with us, and allow us to publish with your story
This is our “commercial”:

How many people are currently working, including employees (freelancers or independent contractors for specific projects)?
I’m currently the only FT employee and we have a handful of interns who help with our social media and blogging.  I’m also currently working FT at a top fashion house as a financial planner.  It’s hard to multi-task, but I make sure to keep my two jobs very separate (and rely on little sleep to get by).
What type of marketing or advertising do you do?
We currently advertise on the knot, wedding wire, and several wedding blogs.  Currently, we get our best ROI with the more popular wedding blogs as opposed to the big box companies we advertise with.
What would make your business more “Successful”?
I think that the wedding business is still very traditional in that most brides would probably list print magazines as the number one place they get inspiration from.  I think that if we could afford to advertise in print wedding magazines and attend wedding shows, we’d be able to reach our customer base to the fullest potential.  Also, if we were able to have liasons in bridal salons around the country who could help brides who can’t normally afford the products rent them through our site, I think the word-of-mouth would spread, and more people would be willing to try a rental.  Word-of-mouth is EXTREMELY important in bridal.
Would you want to be acquired by a bigger company, run it yourself or sell in a couple of years?
I love “Something Borrowed NY”, and I want to be a part of it as long as I can.  However, I know the key to success is hiring those people who can take your business to the next level.  My ultimate goal is to work on SBNY full time, but to create a team around me that can help make us the “rule” instead of the “exception.”  The rental model should be the rule.

Side Businesses You Can Start for Extra Cash

By Tom Musbach | Yahoo! Small Business Advisor – Thu, Nov 17, 2011 6:36 PM EST

Starting a business to supplement your day job's income can help ease worries over your 401(k) losses. For Matthew Griffin of Indianapolis, it also helped him make better brownies.

In 2004 Griffin created a side company for his idea of a new brownie-baking pan that yields more than four corner brownies, hoping the invention might add to his income. Without quitting his day job, he perfected the design with his wife, Emily, for several years. The success of their company, Baker's Edge, grew steadily, and Griffin became full-time CEO and president in 2008.

Griffin's advice to others who start a side business: "Keep your day job and your side job separate. Mixing the two will cause serious issues, and can quickly cause you to lose the stability of your full-time job."

Simple Side-Business Ideas

Whether the struggling economy or an inventive idea is prodding your inner entrepreneur, here are five categories of side businesses that are easy to start (Note: Possible hourly salary data from PayScale.com included, where possible, but rates may vary by location and experience):

Social sales. Companies like Mary Kay, Pampered Chef, Tupperware, and Stella & Dot rely on thousands of independent sales people who work very flexible schedules, often while networking at house parties. Startup kits can cost more than $100, but training time is short. The earnings potential attracts many, often leading to a career change. Stella & Dot stylists, for example, can earn more than $75 per hour, according to the company's website.

Freelancing. Turn one of your marketable skills into a moneymaker to pursue at your convenience. The options are wide for needs you can fill in the marketplace, such as writing/editing, animal care, cutting hair ($22 to $44/hr), being a DJ at weddings, organizing closets, translation (up to $40/hr), and mowing lawns.

Or try a freelance activity that meets one of your needs, too. Tom and Melissa Dowler of Boston started their video production company, Long Haul Films, as a creative outlet they could pursue as a couple.

Online stores. One person's junk is another resourceful person's goldmine, as many eBay store owners have shown us. Or you can set up shop using your own unique domain name and sell items you make or collect. (Yahoo! Small Business tools can help with buying a domain and setting up an online store.)

Think broadly -- maybe your customers would rather rent than buy. New Yorker Brittany Haas started her boutique, Something Borrowed NY, to rent designer bridal accessories.

Consulting. Use your expertise to fill a need. For example, you can prepare taxes ($22/hr) for people who find the process too confusing. Other skills that lend themselves well to consulting include personal finance advising (up to $63/hr), wedding preparations, Internet marketing, computer troubleshooting, public speaking, and interior design (up to $40/hr with 5 years of experience). One simple way to get started: become a registered expert on JustAnswer.

Teaching. You may need a certain level of training or certification for some side businesses in this category, such as yoga instructors (up to $47/hr) or fitness trainers (up to $29/hr). Ask yourself: What am I good at? The many options in this field can include musical instruments, foreign languages, academic tutoring, dance, and various forms of art.

Jason Fitzgerald of Washington, D.C., turned his skills as an elite marathoner into a Strength Running program in 2010 that has helped many runners get stronger and prevent overuse injuries.
Startup Tips from the Experts

The work of starting and maintaining a side business will be much easier if you heed the following advice.

• Map out the details. Video producer Melissa Dowler says, "Put together a business and marketing plan; get business cards printed; make sure you have an up-to-date website and social media; and set achievable goals that you can work towards. All of these things will help you keep focused and stick with it during stressful or busy times."
• Make time for your side job. "If you really want to develop it as an income source, you need to be consistent and dedicate the time to it," Griffin says. "Be prepared to give up your free time. If you are doing it right, it should feel like you have two full-time jobs."

• Guard against burnout. "Give yourself at least one night a week to relax," says boutique owner Haas. "Without that needed break, you won't be able to give 110% to each job."
• Put your heart in it. Marathon runner Fitzgerald says, "Make sure that you are deeply passionate about your business; that will keep you going during times of low revenue when you're not seeing a lot of return on your time investment."

For more resources on how to start a business, see Susan Schreter's Startup Incubator and check out these additional articles on Yahoo! Small Business Advisor:

How We Built a Business Around a Single Item
How I Started a Dry-Flower Business With No Money
How to Estimate Startup Costs