What are Little Passports?
Every summer I headed out with my daughter to The Canadian Museum Of History not too far from our home.
The kicker was the Children's Museum.
There you could pick up your bound passports to get them stamped as you visited different countries and stations. Still have copies in my drawer and they're still available at the Children's Museum In Gatineau, Quebec.
Lo and behold, in 2009 two US moms launched a children's passport business online to inspire children to learn about the world.
The business model is very simple.
It's a monthly subscription aimed at children between the ages of 3 and 12. So they get a recurring monthly cash flow. Most customers hang around for more than 1 year.
So their average cost for a monthly package is $19.61, $239.40 per year, and when you divide $30 million, you get 125,313 paying customers.
Not bad if I have to say myself ;-)! Love those emojis!
It's an online business that ships a physical product. So kids get a surprise package to open up when the mail drops by their home ;-)!
Damn it why didn't I think about that...
But when you are a start-up company, you must find your target customers somewhere at the end of the rainbow to build your stack of money.
Sam and Sofia are the two children's characters that travel the US and around the world to discover cities and countries. Together they solve real-life scientific mysteries every month through experiments, hands-on activities and more.
These cool ladies founders of the company, Amy Norman and Stella Ma, turned their idea into a worldwide multimedia company.
How did they do that?
They used Facebook to advertise and the world opened up to them. And they grew their business by 3 times in 6 months with a $5,000 dollars investment that grew to $30 million dollars. Oulala!
By using paid posts and tracking their results on Facebook, Amy and Stella acquired customers online. They track their conversions on their website to get the best results money can buy with targeted and segmented ads.
In fact with Facebook reaching the world, it's no wonder their business has skyrocketed into the stratosphere. Maybe they'll make up little passports for the moon, Mars or Jupiter.
Isn't Elon Musk going to Mars in a Tesla and back;-)?
Just Imagine Your Success And Do It.
P.S. Did you know that 74% of business people who appear on Shark Tank never sign an agreement with the Sharks? I love trivia ;-) and emojis!