JP Hoops Lab LLC | Application Preview
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General Information
Business Registration Number: 82-4708436
Location: Birmingham, AL, United States
Length of Operation: 2
Number of Employees:
Annual Gross Income:
Annual Gross Expense:
Open to Loans: NO
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Funding Usage
1. Hiring a sales team 2. Hiring Marketing Agency 3. Purchasing additional Inventory 4. Upgrade e-commerce site 5. Update Patent Application 6. New manufacturing source to cut costs 7. Ad generation money 8. To scale the business 9. Upgrading Accounting procedures 10. Travel for product demonstrations to coaches around the US. 11. Promotions 12. Upgrade to social media management appropriate for scaling business Will obtain detailed list per request.
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Business Plan
I will have an e-commerce presence as well as a ground force sales. I will be working with college basketball coaches to sell the Ringer at their summer basketball camps. Some colleges see 600 to 1000 kids per summer and the kids will go home with the Ringer in the color of and participating university along with logo as a gift to campers. These numbers replenish themselves every year. With the grant, I can drastically increase my online presence to parents, coaches, and tournament directors. Being that basketball is a team sport, I will be able to sell multiple units to one coach, instructor offering bundles for discounted prices. In 5 years the Line of products under The Ringer Sports will drastically increase including possible sales of other basketball products via drop shipping. I solve problems as I am an inventor whom creates commerce. I am also a basketball instructor who is also the inventor of the products being sold. I have sweat and cash into my product, and its positioned to be scaled. I was also a victim of fraud by invention company and lost $30k. I got back up which shows grit. My product is fully developed, the website developed, multiple supply chains set up, tooling set up to run 100k units of product. I also have inventory. There are many devices and products to help public learn the mechanics of other sports such as baseball, tennis, and golf. Most basketball aids are flimsy, only address one or 2 problems and are poorly advertised. My product is the first basketball training aid on the market to teach what has been the most difficult thing for coaches to teach which is shooting. It is the first of its kind that can teach what both wrist and arms are supposed to do throughout the entire cycle of a basketball shot. My product is bilateral, one size fits all and works from Youth to Pro level basketball players. My device is simply needed ,and will build confidence in youth players and young adults as well. I have a utility patent pending and the name has been trademarked. Im also very passionate about teaching basketball shooting to the average person whom does not play organized sport.
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Self Identified Competition
Hoop Kings Pure shot Hoops King is an online store, they have not developed any products of their own. My product is a breakthrough training aid, that will anchor the sales of other products. Hoops King has no anchor or licensing rights to my product. Pure shot has no ergonomics, no visual markers, does not flex and is missing the most important component which is the wrist extension on the Ringer. No competitors sell anything more capable of teaching shooting form to the public than the Ringer.
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