In 2013, Rachel Zietz identified an issue identified a relatable issue to most athletes. She believed equipment was both too expensive and not durable enough. At the age of 13, Rachel sought to solve this issue. Hence, the company Gladiator Lacrosse was born. After attending the Young Entrepreneurs Academy in Boca Raton, Florida, she had an opportunity to pitch her idea to a panel of investors. She was given $2,700 to get started. She used this start up capital to create a line of lacrosse rebounders which is affordable, high quality, and durable. After just one year on the market, Rachel had made $200,000 in revenue. Two years later, her sales had increased to over $1 million dollars! Not to bad for 3 years considering her startup money began at $2,700. She continues to impress the entrepreneurial community as she was honored as a finalists for the Greater Miami Chamber of Commerce’s 2015 Entrepreneur Award. Rachel is a shining example for young entrepreneurs everywhere.
Sources:
-https://www.cnbc.com/2015/07/27/8-young-entrepreneurs-making-serious.html?slide=7
-http://www.gladiatorlacrosse.com/
It is absolutely amazing that she was able to take $2,700 and turn that into over $1 million in sales in only 2 years. That is truly a remarkable feat.
I have seen this article before and she seems like a great girl with a lot of drive. She noticed a problem and created a solution that people obviously support. Beyond that, she seemed to find the right niche and had a great product to sell. $2,700 to $200,000 to $1 million is ridiculous in three years and this is a great example of young entrepreneurship and it is very exciting to see young entrepreneurs succeeding.
It’s great that she fought to solve the problem of expensive equipment. It allows everyone to play instead of just those who have money.
Solving the gap of an expensive sport to connect with a poorer population is truly an accomplishment. Makes you wonder how the MLB can do something similar in the US.