We live in the cross-section of pet product retailers (e.g. Petco, PetSmart, Chewy.com), crowdfunding (e.g. GoFundMe, YouCaring), and animal welfare giving (e.g. ASPCA, HSUS).
First, our competitive advantage over pet retailers is our ability to garner better margins. Because of the nature of our brand, story, and registry service, along with our efficiency, we believe we can garner much better margins than other retailers. As a for-good, for-profit, we try to operate as leanly as possible. And the more successful we are, the more good we can do. Our challenge is that we lack the marketing dollars to help us grow at the rate we’d like. Despite this challenge, we have seen impressive growth in the last few months.
Second, in a short conversation with our users, you will find that they prefer our service over other crowdfunding sites. We are specific to animal welfare and have an in-house team that helps them optimize campaigns, making them better marketers and fundraisers. Also, our expertise in the space and acquired community allows poundWISHES to market on behalf of our clients – marketing dollars that they cannot access from other crowdfunding sites.
Third, when it comes to animal welfare nonprofits, there is a clear distinction. HSUS gives less than 0.5% to local rescues and shelters, which is a large reason for our existence. They are heavy and bureaucratic, disabling them from being able to run efficiently to better serve the 15,000 rescues that exist in the US.
Across all of these areas, we believe most of our competitors cannot move fast enough to disrupt the space themselves. The ones who aren’t in the registry space, are trying to modernize through acquisition, but they do not have an aggregated rescue/shelter client base, which we’ve worked extremely hard to build.
To date, we believe there is no company that has combined both crowdfunding and registries within the animal space. Raising the appropriate capital would give us first mover’s advantage.