mino by ParaWare, LLC
Class: 2013 Summer Accelerator
ParaWare, LLC created the mino shoe wear sensor that shows runner when their shoes are worn out so they don't get hurt.
Getting ready for on boarding Running Fit. They are a 8 store front company and will be showcasing the mino on their online store for August. Betweeen their order of 100 minos and New England Running Company's order of 18 minos, we'll just cover the cost of the trip to MI next week.
Our first retailer testimonial - PR Running in Westborough (selling a dozen a month).
On Saturday (13JUL2013) we were at Fleet Feet Hartford demonstrating our mino to the No Boundaries running group. Five runners went 2.5miles and won free minos. We hope to start selling in Hartford, CT soon.
The ParaWare team was able to ship about 80 minos to three customers this week. Although we are doing some component and final assembly in our homes, we hope to outsource the component assembly with the revision 8 design.
Take a look at our prep:
A look back at our booth at Lace Up Local a B2B tradeshow for run specialty stores. We took 8 orders for 200 minos that the will "seed" their shoe consultants. Generally these retailers sell 6000 pairs of running shoes a year. There are 1200 store fronts in the US. That is 7,200,000 shoes a year. If the mino is sold into 10% of those shoes and retains $1 net profit, our company would produce $720,000 of bottom line profit.