INK-64

Proposal ID
INK-64
Grant Type
commercial experiment
Project Lead
prezzel / @DoodBakes
Estimated Launch
December 1, 2023
Created
Sep 24, 2023 1:42 AM
Status
Declined
Council Feedback — 10/17/2023: Thank you very much for updating the additional information going over your proposal. Unfortunately, the Council could not approve the proposal in its current form. Specifically, we feel the spending plan is still very vague, and listed costs mostly consists of additional hardware. With most of the funds going towards purchasing new equipment, too little would go towards the experiment itself. We look forward to any resubmissions! Thank you
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Council Feedback: Thank you for your proposal. We’re excited to move forward but need to collect additional information from you before being able to update the status of the proposal:
  1. What imagery is being shown on the cookies? Please use the form when possible with whatever you already have.
  2. As far as the cookie’s quality goes, is there a plan to improve it from home-made style to a commercial-friendly style? What’s the plan as far as the visual look of the cookie goes?
  3. “DoodBakes” will infringe on trademark and community guidelines. Please consider changing the name to increase your odds of internal approval.
  4. Your spending plan is missing. Please itemize how the requested funds will be spent.

Description

I'd like to run a small home bake shop to see if I can find sufficient demand to be commercially successful. Team Space: On approval Days until launch: 68 Requested Budget (USD): 10000

Team:

Prezzel - Baker, marketing, logistics, sales, everything

Questionnaire

What’s the key hypothesis your proposal tests that could bring value to the brand and holders? People like cookies.

What’s the distinct value proposition of your proposal? Clear Value Proposition: I've got a product that's been developed over the past 5 months, tested within the community, and has a path to being sold in Pike Place and local Seattle farmers markets. Having an in house baker allows the Doodles community to leverage my skills for events. The community can also leverage me to develop products for their own inkubation projects. Having a simple product like cookies creates a narrative to explain the value of web3 communities to people outside the industry. Doodbakes is a service that other communities can tap the Doodles for in a similar way that other communities use GoldenWolf.

Can your proposal be scaled and replicated if successful? Scalability and Replicability: Scaling involves taking the recipe and processes I've developed to a larger facility and having them mass produce the product. I've also got a packaging vendor that's good and I'll be able to scale ordering my window boxes. The same goes for my stickers I use for packaging. I may need to shift to a heat seal to maximize preservability from my simple treat bags I use currently, which isn't a big lift.

Does your proposal introduce a new benefit for OG Doodles? Enrich the Doodles community: The most direct utility already delivered is that I used the community to test the recipe, packaging, shipping, every aspect of what's been produced. This would be the case for any new products developed under the DoodBakes brand. Given the project results in a profitable business some percentage of profits would flow back to the Inkubator. The OG holders would also receive discounts if they want to order batches for events they're hosting.

How will your proposal broaden the appeal of Doodles to new audiences? Exposure to New Audiences: I'd be working in my local market in Seattle. I've been attending various conferences and distributing cookies to expand awareness of DoodBakes and Doodles in those venues. Then anyone who requests cookies for events would be spreading awareness that way as well. I'd expect the brand to be utilized by the Doodles community initially, expand to the broader NFT community, out to other web3 projects that are hosting events, and then it's got some chance of going mainstream that's likely dependent on the strength of Doodles performing as a mainstream brand.

Does your proposal have the potential to increase revenue for our holders or the Inkubator? Revenue Potential: The current cost for each box of two cookies is ~1.50$. Industry standard pricing for this product is 5$ to 10$. With additional funding from the Inkubator I could purchase everything I'm currently using in greater quantities as well as reduce the quality of some of my ingredients if deemed necessary to get the price down to ~1.18$ per package. I believe these numbers create enough space to cover my labor costs while still kicking back some profits to the Inkubator.

Is your proposal structured to self-sustain its expenses? Cost Neutrality: There's some setup costs that I've incurred with the development of the product. There are some costs still to be paid like my cottage food permit as well as potential stall costs. I've got my food handlers permit and business license already though. Generally speaking, I'd expect this to be a cash flow positive business if the product sells.

If successful, do you plan to move your project to the Inkubation stage? Path to Inkubation: There's a couple different ways this could go that I see -Selling via local venues is reasonably profitable -Developing and selling recipes for others -Serving web3 events takes off as the selling channel -Local events takes off as a selling channel

Project Lead Additional Remarks

Brand Guidelines: I'll require approval for my design as well as approval for my cookies being a food product.

Additional Info: -Potential custom cookie work for an Art Basel NFT party for a separate NFT project -Working on supplying local anime events with custom cookies -Developing a custom recipe for Chef Tony is association with INK-57 -I've spent ~2500$ in ingredients, equipment, packaging, testing, recipe development, etc

I think I've put in a sufficient amount of blood and sweat which can be seen on @doodbakes to earn the support of the Inkubator. I've had multiple people ask me how to buy more of my cookies or if I can support their events. I'd like to receive the blessing of the community since I need to commit to the product I'm producing when I submit for my cottage food license and I'm producing a food product with a design that diverges from the brand guidelines.

I appreciate the consideration, -Prezzel aka DoodBakes