AIP-530: TEA WITH APES, brought to you by Bored British Tea and powered by $APECOIN

PROPOSAL NAME:

TEA WITH APES, brought to you by Bored British Tea and powered by $APECOIN

TEAM DESCRIPTION:

Bored British Tea is a UK-based luxury tea and coffee connoisseur led by John-Paul Nwodo (@jpnspy.eth), a highly skilled tea connoisseur with over 10 years of Web2 experience in tea and coffee sourcing, marketing that amounted to over £1 million yearly sales revenue at Harrods (British Luxury Department Store). Holding Master’s Degree (MSc) in Cybercrime and Digital Investigation, John-Paul is also a Web3 enthusiast since 2018 and currently works as a cybersecurity specialist with speciality blockchain and digital investigation.

PROPOSAL DESCRIPTION:

Our proposal seeks funding to kick-start the Apechain-powered British luxury tea and coffee IP brand.

Bored British Tea aims to captivate new Web3 enthusiasts by creating awareness through the simple pleasure of a cup of tea and coffee.

Our strategy involves building brand presence by visiting UK universities, libraries, and Web3 summits to offer complimentary cups of tea and coffee while engaging in conversations about Web3 and our Apecoin-powered products.

BENEFIT TO APE-COIN ECOSYSTEM:

We’re excited to offer our wonderful products at a discounted rate when you use $Apecoin for your purchase.

Our goal is to contribute to the Apecoin ecosystem by selling our products on $ Apecoin-enabled platforms like Shopify and providing discounts and value-added benefits to Apecoin holders.

Additionally, we’ll be accepting Apecoin as a form of cryptocurrency payment on our website. We’re looking forward to enhancing Apecoin DAO IP assets with these initiatives.

Tea or Coffee, a hug in a mug. We believe that sharing a drink is more than just an act - it’s an experience. That’s why we plan to take our products to various locations, conducting and participating in workshops at universities, libraries, and Web3 summits in the UK and Europe. Our goal is to educate tea and coffee enthusiasts about $APE while making it our primary crypto payment option.

We aim to sponsor events and promote BoredBritishTea products and the Apecoin brand within relevant crypto/NFT communities, creating awareness through effective marketing strategies.

Additionally, ApeCoin Holders would benefit from a minimum of 10% percent discount on product purchases when paying with ApeCoin.

STEPS TO IMPLEMENT:

The start date will be upon the project approval and up until December 2029.

We aim to provide free tea and coffee at Apecoin DAO-approved events in the UK for up to 100 people/events upon request, with the potential for international extension upon special request. Organizers can make contact directly to Bored British Tea or Ape Foundation, furthermore, the Foundation can nominate organizers to benefit from this offer. Event organisers will be entitled to a total mix and match of free 100 cups of Tea and Coffee courtesy of Bored British Tea and Ape Foundation. Additionally, the Bored British Team team would cover these shipping fees.

We plan to support established events by offering and serving free tea and coffee, thereby creating opportunities for conversations to educate about Web3, $ApeCoin, and to grow BoredBritishTea sales. I will implement what I term the 10 commandments on implementation;

1.Product Development and Market Research

Milestones: Completion of market research and analysis, Development of a new tea product or blend. Testing and refinement based on feedback.

KPIs:

Market demand analysis: Understanding consumer preferences and trends.

Product testing success rate: Positive feedback from tea lovers and connoisseurs.

Time to market: Having started production and selling in small scale, launch of this project will start upon approval.

Product uniqueness: Number of unique selling points identified.

  1. Pricing Strategy and Profit Margins

Milestones: Establishing a competitive pricing strategy, Setting target profit margins.

KPIs:

Cost of products sold: Tracking production and distribution costs.

Gross profit margin: Percentage of revenue remaining after product sales.

Price elasticity: Customer response to price changes.

Competitor pricing analysis: Positioning against market competition.

  1. Branding and Marketing

Milestones: Development of branding products with Powered by Apecoin and launch of marketing campaigns in UK university and Web3 event summits and achieving brand recognition in web3 markets.

KPIs:

Brand awareness: Metrics such as social media followers, website traffic, and survey data.

Customer engagement: Social media interactions, email open rates, and website dwell time.

Marketing ROI: Return on investment for advertising and promotional activities.

Customer reach: Number of customers reached through marketing efforts.

  1. Distribution and Retail Placement

Milestones: Securing placement in retail outlets (e.g., supermarkets, specialty stores).

Establishing an online sales platform like Amazon, Shopify and Tick-Tok social media market place.

Expanding distribution to new regions and wider reach.

KPIs:

Retail coverage: Number and quality of retail outlets stocking the product.

Online sales growth: Increase in e-commerce sales and website conversions.

Inventory turnover rate: Speed at which products are sold and restocked.

Channel profitability: Profit margins by distribution channel.

  1. Sales Performance

Milestones: Achieving initial sales targets. Reaching key revenue milestones. Expanding the customer base.

KPIs:

Sales volume: Total units sold within a specific period.

Revenue growth: Percentage increase in sales revenue over time.

Average transaction value: Average spend per customer.

Sales conversion rate: Percentage of leads or inquiries converted into sales.

  1. Customer Acquisition and Retention

Milestones: Growing the customer base through acquisition campaigns.

Establishing a customer loyalty program with 10% for Apecoin holders.

Achieving a desired customer retention rate.

KPIs:

Customer acquisition cost: Average cost to acquire a new customer.

Customer retention rate: Percentage of repeat customers over time.

Customer lifetime value: Total revenue expected from a customer during their relationship with the brand.

Churn rate: Percentage of customers lost during a given period.

  1. Customer Satisfaction and Feedback

Milestones: Implementing customer feedback mechanisms (e.g., surveys, reviews).

Achieving a target customer satisfaction score.

KPIs:

Customer satisfaction score: Direct feedback on customer satisfaction.

Net promoter score: Measure of customer loyalty and likelihood to recommend.

Product return rate: Frequency of product returns and complaints.

Review ratings: Average rating across customer reviews and feedback platforms.

  1. Inventory Management and Supply Chain Efficiency

Milestones: Implementing an effective inventory management system.

Ensuring a consistent supply chain for uninterrupted sales.

KPIs: Stock-out rate: Frequency of inventory shortages.

Order fulfilment time: Time taken to process and deliver customer orders.

Supply chain cost: Total costs associated with storage, handling, and distribution.

Inventory accuracy: Accuracy of stock records compared to physical inventory.

  1. Financial Performance

Milestones: Achieving break-even point and reaching key profitability milestones.

KPIs:

Gross and net profit margins: Indicators of overall profitability.

Cash flow: Net cash generated from operating activities.

Return on investment: Profitability relative to investments made in sales and marketing.

Debt-to-equity ratio: Measure of financial leverage and sustainability.

  1. Growth and Expansion

Milestones: Launching new tea and coffee variety and blends and entering new markets or sectors.

KPIs:

Market share growth: Increase in the percentage of market capture.

Product diversification: Revenue contribution from new products.

Geographical expansion: Sales performance in new regions.

Partnerships and collaborations: Number and impact of strategic partnerships.

By closely monitoring these milestones and KPIs at each step of the tea sales process, companies can optimize their strategies, enhance customer satisfaction, and drive growth in the competitive tea market.

Our inaugural event appearance will take place at ApeFest Lisbon in October 2024, featuring the Made By Apes marketplace.

REPORTING EXPECTATIONS:

We are committed to expansion and will provide quarterly progress reports for transparency. Reports will be made on X (@boredbritishtea) or any desired platform deemed appropriate by the DAO community. The reports will be conducted quarterly with end of year report, for 5 years. My plan is to establish this into a recognisable project that will run for years.

OVERALL COST:

Total amount requested from the ApeCoin Ecosystem Fund = $25,025

A lump sum payment has been requested.

To initiate this project with full force, we are seeking funding for the production costs of 30,000 tea bags in 5 varieties: white tea, green tea, black tea, Oolong tea, pu-erh tea, and traditional ground coffee.

The breakdown cost would be;

Production Cost:

Tea
$10,000 for 5 varieties of teabags at production costs of $0.33 a teabag for (30,000 teabags).

Luxury Boxes: 40 tea bags total, 8 packs of each tea variety - $20/box.

Individual Packs - 8 teabags total, 5 varieties to choose from - $5/pack

Coffee
$12,000 for 3000 packs of 250g Ground traditional coffee at production costs of $4 a pack.

Each traditional package pack will be retailed for $10 a pack.

Luxury premium packaging production cost;

750 - Luxury paper rectangular tea boxes @ $0.30 each ($225 total cost)

3000 - Luxury paper cylinder ground coffee boxes @0.30 each ($900 total cost).

Sales and promotion materials for workshops and events. (Booth signage, banners, stickers and T-shirts) costs: $500

Logistics and shipping cost: $400

Custom duties, Storage and miscellaneous costs: $1000

Total production costs breakdown: $ 25,025

The anticipated amount to be realised from coffee sales is $30,000

The Anticipated amount to be realised from tea sales is $15,000 - $18,750

Total amount to be realised from sales: $45,000 - $48,750.

Anticipated profit $15,000 (-$25,000 production cost, -$8,750 Apecoin holder discounts and promotional giveaways).

Total amount requested from the ApeCoin Ecosystem Fund = $25,025

1 Like

:white_check_mark: Kapow! “A hug in a mug.” I like it :saluting_face:

3 Likes

Would love to see more ApeCoin integration into this proposal (e.g. pay with $APE, discount for holding $APE, $APE branded teas, etc).

All can be easily implemented via standard Shopify integrations (in the US at least). Happy to help on that front if needed.

6 Likes

Lovely input VonFrontin will expand more on the proposed discount on Apecoin purchases to highlight your recommendations. Shopify Apecoin payment implementation can be used in the UK and is in books. Will give you a shout if we stumble into any hiccups :slightly_smiling_face:

7 Likes

Sounds great. This includes a website too right?
Would love to chat to you about how the GRAIN Affiliate Network can help promote the brand within the web2 space along side other teas.

3 Likes

Yes it does include the website :blush:

3 Likes

amazing idea JpnSpy! I’d love to see more and more Ape products based in the UK!

2 Likes

That’s the dream, thanks I appreciate :muscle:

1 Like

Hi @jpnspy.eth ,

The community feedback period for your proposal would be ending in roughly 24 hours.

  • If you’re content with the feedback received, your next steps are to finalize your proposal using the AIP Draft Template.

  • A moderator will reach out to the author to finalize the AIP Draft. Upon receipt of the final Draft, we will review and provide instructions on the next steps.

  • Are you ready to proceed to the next phase or do you wish to extend community discussion for another 7 days?

We look forward to hearing from you.

-@Facilitators

Hi 12GUAGE,

I will like to extend for another 7 days to allow more time for feedbacks.

Thanks

Kind regards

1 Like

Hi ApeCoin DAO Community,

@jpnspy.eth has requested to extend the community discussion period for this AIP idea. This topic will automatically close a further 7 days from the original closing date. We encourage the community to continue to engage in thoughtful discussions through constructive criticism, honest feedback, and helpful suggestions.

Follow this Topic as further updates will be posted here in the comments.

-@Facilitators

I’ve made some updates to the draft to incorporate the feedback received so far :heart_hands:

2 Likes

Welcome to the forum

Just make the budget breakdown more clear. This is a pretty expensive teabag.

https://london-heathrow.worlddutyfree.com/en/63/fortnum-mason-royal-blend-tea-bags-50g

This is good tea and costs 6.95 for 25 tea bags or in USD

9.1299454 US Dollars
0.36 USD per tea bag.

You are asking 0.83 USD per tea bag.

What is the actual price you want to sell this tea vs what you are asking to help market ApeCoin in the communities you mentioned?

2 Likes

Hi Big Bull,

The breakdown cost would be;

Production Cost:

Tea

$10,000 for 5 varieties of teabags at production costs of $0.33 a teabag for (30,000 teabags ).

*40 teabags luxury boxes to comprise 8 packs of each tea variety to be retailed at $20 per box.

Individual 8 teabags pack of each variety to be retailed for $5 a pack each. (If purchased separately instead of the 40 teabags package).

Coffee

$12,000 for 3000 packs of 250g Ground traditional coffee at production costs of $4 a pack.

  • Each traditional package pack will be retailed for $10 a pack.

Luxury premium packaging production cost;

750 - Luxury paper rectangular teaboxes @ $0.30 each ($225 total cost)

3000 - Luxury paper cylinder ground coffee boxes @0.30 each ($900 total cost).

Sales and promotion materials for workshops and events. (Booth signage, banners, stickers and T-shirts) costs: $500

Logistics and shipping cost: $400

Custom duties, Storage and miscellaneous costs: $1000

Total production costs breakdown: $ 25,025

Amount requested from Apecoin DAO Ecosystems:$25,000

===================================

The anticipated amount to be realised from coffee sales is $30,000

The Anticipated amount to be realised from tea sales is $15,000 - $18,750

Total amount to be realised from sales: $45,000 - $48,750.

Anticipated profit $15,000 (-$25,000 production cost, -$8,750 Apecoin holder discounts and promotional giveaways).

2 Likes

Hope to see you on TreaXure: AIP-500

1 Like

Hi @jpnspy.eth ,

The community feedback period for your proposal would be ending in roughly 24 hours.

  • If you’re content with the feedback received, your next steps are to finalize your proposal using the AIP Draft Template.
  • A moderator will reach out to the author to finalize the AIP Draft. Upon receipt of the final Draft, we will review and provide instructions on the next steps.
  • Are you ready to proceed to the next phase or do you wish to extend community discussion for another 7 days?

We look forward to hearing from you.

-@Facilitators

This topic was automatically closed after 14 days. New replies are no longer allowed.

Hi @jpnspy.eth ,

Thank you for your ideas [and the ApeCoin DAO community for the insightful discussions].

A moderator will reach out to the author to finalize the AIP Draft using the appropriate template.

  • Once the AIP Draft is confirmed by the author and meets all DAO-approved guidelines, it will receive an AIP ID number and move forward for Draft Analysis Review.
  • @jpnspy.eth please see your messages for the next steps.

Follow this Topic as further updates will be posted here in the comments. In accordance with DAO-approved guidelines, if the author does not respond within 30 days, the proposal will be automatically transferred to the Withdrawn category, and the author can re-submit the idea.

-@Facilitators

Hi ApeCoin DAO Community,

Edits have been made to this Topic, by the author, by the author’s request, or with the author’s consent.

You can click the Pencil icon at the top of the post to see these edits.

Follow this Topic as further updates will be posted here in the comments.

Kind Regards,

-@Facilitators

Hi ApeCoin DAO Community,

@jpnspy.eth has completed editing their AIP Idea to be their AIP Draft.

This proposal has been assigned the AIP ID Number 530.

Follow this Topic as further updates will be posted here in the comments.

Kind Regards,

-@Facilitators

2 Likes