0When Ray Phillips worked as a Program Director for a residential treatment facility for children who have experienced trauma, Ray found that the most difficult time of the day was bath time. Children would argue, cry, and even attempt to hide to avoid taking a bath.
After staff at the agency struggled with one child who could not part with his stuffed animal to bathe, Ray came up with the idea of taking another stuffed animal and modifying it to hold soap. After giving the child the modified stuffed animal, the child took a bath without issue and unknowingly SoapSox® was born.
Ray quickly recognized the same dilemma surrounding bath time in homes and was shocked to find no such product on the market. Thus begun the exciting rise of SoapSox®.
The most difficult time of the day for a parent is bath time -- kids can be scared or reluctant to bathe; and while some kids love the water, they don't want to wash themselves. There are bath toys that incentivize kids to get in the tub, but they have no functionality and often only act as a distraction rather than a method of helping clean. And worse, in a matter of days or weeks, these bath toys grow mold. There isn't anything on the market that provides a fun, functional and safe way to help kids bathe.
Founder, Ray Phillips, came up with SoapSox® as a way to make bath time more fun for kids and easier for parents. SoapSox® is specifically designed to hold soap in a cavity in the center of each cute, fun character. Kids can "feed" SoapSox® liquid or bar soap during bath time, which helps facilitate hygiene through play. SoapSox® are designed with built-in finger pockets for better scrubbing and are machine washable and dryer safe, ensuring bath time is a breeze from beginning to end.
SoapSox® is an authentic product story differentiating us from the competition. We connect emotionally with parents by creating products that encourage bonding and lifetime habits. SoapSox was conceived to help create a safe space for kids. When shopping for products, 50% of millennial parents say they try to buy products that support a good cause.
Sources: Millennial Marketing
From a $1M buyout offering from the sharks on Shark Tank to a licensing agreement with Disney® and partnership with the Honest Co, we have quickly become a household brand in this massive industry. In 2014, we received numerous offers on NBC's Shark Tank, starting with Damon John and followed by Lori Grenier and Robert Herjevec who offered a $1M buyout.
NBC's Shark Tank thrust us in the spotlight, and we have been able to capitalize on it ever since:
Following our Shark Tank success in 2016, we signed a Disney® licensing agreement and secured distribution to QVC®, Buy Buy Baby, Target and 3,000 specialty stores through our exclusive US distribution agreement with Ginsey Home Solutions. Quickly, we expanded distribution partners to Amazon and Walmart, dramatically widening our market and in 2018, we formed a partnership with the Honest Company to bundle SoapSox® with bath soaps.
With have an average rating of 4.2 stars on Amazon and a majority 5 star rating, 75% of customers come back and buy another Soapsox after their purchase. But it's really our customers who help us realize we are more than on to something...
SoapSox®, which at times we affectionately call "fun"ctional plush toys, are unique. The adorable, eye-catching designs are coupled with a technology that is distinct, yet simple and engaging for kids. The toys have thoughtful details like heart-shaped pupils and subtle smiles. Characters have memorable names like Taylor the Turtle or Harper the Hippo and come equipped with stories to engage with children's imagination. Our characters actually float in the water like the animal would itself. SoapSox® are unlike any other washcloth you have ever purchased.
SoapSox® products uniquely straddle two major industries in the global and US Market: Toys and Baby Care. U.S. consumers spent a record $4.98 billion on Plush, Baby/Toddler/Preschool, and Baby Care products in 2018. According to Toy Association’s 2019 Trend Spotting, infusing popular licensed properties in all types of innovative products has helped licensing make up nearly 30 percent of all U.S. toy sales. We are universal. Our customers are the 39.9 million parents and 69.9 million grandparents buying gifts for 19.9 million children ages 0-4 in the U.S. Our current market adoption of SoapSox® aligns with what the data suggests in regards to growth opportunities.
Sources: Forbes, NPD, License Global
With patented products, we are able to scale this company to a number of new industries and brands. Because of our myriad partnerships, we are able to create SoapSox® versions of the most popular branded characters in the market today. Soon through our licensing partnership with Ginsey Home Solutions, we are planning to introducing Sesame Street, Paw Patrol, and more of your favorite characters.
We are excited to announce that in February 2020, Walmart will begin selling custom Paw Patrol SoapSox. One of the most popular kids show in the world, it is responsible for over $300M in annual toy sales alone (source).
With established partnerships like Nordstrom, BuyBuy Baby, Target, Walmart, Amazon, and QVC, we have already begun expanding internationally into ten different countries. These sales exist domestically in both brick and mortar locations as well as a booming online presence. This is particularly significant in the large grandparent market who tend to spend 3.5 times more online than they would in a store. Our licensed characters have helped secure sales -- in children brand loyalty begins as early as age 2, and by age 3, American children make specific requests for brand-name products. By age 4, children are ready to make their own (parent-financed) purchases.
Unlike any competitor in the market, SoapSox® is positioned to cross several categories in the toy industry including infant/toddler/preschool toys, plush, bath. We set ourselves apart through our innovation. We boast a wide array and ever-expanding list of licensed characters with patented sound technology and quality construction. Our patented "feeding" feature engages kids and the anti-microbial material and ability to machine wash is a joy to parents. We are utility patented in the USA, Canada, and EU, design patented and trademarked in China. On top of all of that, we sell SoapSox® at an extremely affordable price point, starting at just $9.99.
We have washable speaker technology that allows our characters to emit sounds. Imagine dinosaurs roaring, cars revving, and tug boat horns blaring during your kid's bath time adventures. We also have many new characters in development with recognizable and friendly faces that will excite children all over the world.
After witnessing a distraught child who refused to bathe, Ray and his staff noticed that the child wouldn’t part with his plush toy. It was in that moment that Ray had an aha moment. He modified the plush toy to hold soap and the child never had a problem with bath time again. Seeing the relief and joy across the child’s face was an unforgettable moment for Ray and his staff. When he discovered that there wasn’t a product like it on the market, he started SoapSox®. Through friends, Ray met Creative Director Alvin Uy and over the next two years, they developed SoapSox®. After a successful Kickstarter Campaign in 2013, SoapSox® was introduced to the world.
We think SoapSox® is a smart investment not only because of the unique competitive advantages, growing retail presence, exciting partnerships, or the substantial growth opportunity, but also because of our mission to create a safe space for kids. Since SoapSox® was created in the halls of a facility that helped protect children, we've committed ourselves to this cause and aim to provide greater support to organizations that help to provide safe places for children. Our ultimate goal is to establish SoapSox® as an industry leader, while advancing our agenda to remove the statute of limitations on crimes against children nationally. Join us and together let's see the waves that we can make.
With the ability to choose water-friendly animals like hippos, whales and turtles, kids can take these adorable plush pals by SoapSox from bathtime to playtime.
Most entrepreneurs left Shark Tank empty handed during the second episode of season six, including a pair of founders who turned down $1 million just six months after launching their product.
SoapSox® is excited to announce its partnership with Disney Baby at the 2016 North American International Toy Fair in New York on February 13th-16th, 2016.
For every entrepreneur on Shark Tank whose $1 million idea is a cat-renting service, there is truly innovative products that makes parenting easier.
Working with children who had experienced trauma, Ray Phillips found that the most difficult time of the day was bath time. As a program director who worked with vulnerable children and youth for 16 years at Hillsides, a premier provider of behavioral healthcare, Phillips took matters into his own h
SoapSox® is excited to announce its partnership with Disney Baby at the 2016 North American International Toy Fair in New York on February 13th-16th, 2016.
Company | : | Phillips Entertainment Group Inc. |
Corporate Address | : | 1480 Colorado Blvd, Los Angeles, CA 90041 |
Offering Minimum | : | $9,997.50 |
Offering Maximum | : | $106,996.50 |
Minimum Investment Amount(per investor) | : | $240.25 |
Offering Type | : | Equity |
Security Name | : | Common Stock |
Minimum Number of Shares Offered | : | 1,290 |
Maximum Number of Shares Offered | : | 13,806 |
Price per Share | : | $7.75 |
Pre-Money Valuation | : | $6,200,000.00 |
*Maximum Number of Shares Offered subject to adjustment for bonus shares. See Bonus info below.
Perks* and Investment Bonuses
Early Bird
First 7 days - 10% bonus shares
Next 14 days - 5% bonus shares
Volume
$500+ (VIP Owners - 10% lifetime discount on purchases online + 2 SoapSox)
$1,000+ (Above + 20% lifetime discount on purchases online + SoapSox Exclusive Owner Gift set + 5% bonus shares)
$3,000+ (Above + 25% lifetime discount on purchases online + new product releases annually + 5%
$5,000+ (All of the above + 30% lifetime discount on purchases online + 3 person gifting program + 10% bonus shares)
$20,000+ (Above + 20% bonus shares + design and naming of new character)
*All perks occur after the offering is completed.
The 10% Bonus for StartEngine Shareholders
Phillips Entertainment Group Inc. will offer 10% additional bonus shares for all investments that are committed by StartEngine Crowdfunding Inc. shareholders who invested over $1,000 or made at least two investments in StartEngine's own offerings.
This means eligible StartEngine shareholders will receive a 10% bonus for any shares they purchase in this offering. For example, if you buy 10 shares of common stock at $7.75 / share, you will receive 11 Common Stock shares, meaning you'll own 11 shares for $77.50. Fractional shares will not be distributed and share bonuses will be determined by rounding down to the nearest whole share.
This 10% Bonus is only valid for one year from the time StartEngine Crowdfunding Inc. investors receive their countersigned StartEngine Crowdfunding Inc. subscription agreement, unless their eligibility period has been extended through additional subsequent investments in StartEngine's own offerings.
Investors will only receive a single bonus, which will be the highest bonus rate they are eligible for.
THE OFFERING MATERIALS MAY CONTAIN FORWARD-LOOKING STATEMENTS AND INFORMATION RELATING TO, AMONG OTHER THINGS, THE COMPANY, ITS BUSINESS PLAN AND STRATEGY, AND ITS INDUSTRY. THESE FORWARD-LOOKING STATEMENTS ARE BASED ON THE BELIEFS OF, ASSUMPTIONS MADE BY, AND INFORMATION CURRENTLY AVAILABLE TO THE COMPANY’S MANAGEMENT. WHEN USED IN THE OFFERING MATERIALS, THE WORDS “ESTIMATE,” “PROJECT,” “BELIEVE,” “ANTICIPATE,” “INTEND,” “EXPECT” AND SIMILAR EXPRESSIONS ARE INTENDED TO IDENTIFY FORWARD-LOOKING STATEMENTS, WHICH CONSTITUTE FORWARD LOOKING STATEMENTS. THESE STATEMENTS REFLECT MANAGEMENT’S CURRENT VIEWS WITH RESPECT TO FUTURE EVENTS AND ARE SUBJECT TO RISKS AND UNCERTAINTIES THAT COULD CAUSE THE COMPANY’S ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE CONTAINED IN THE FORWARD-LOOKING STATEMENTS. INVESTORS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE ON THESE FORWARD-LOOKING STATEMENTS, WHICH SPEAK ONLY AS OF THE DATE ON WHICH THEY ARE MADE. THE COMPANY DOES NOT UNDERTAKE ANY OBLIGATION TO REVISE OR UPDATE THESE FORWARD-LOOKING STATEMENTS TO REFLECT EVENTS OR CIRCUMSTANCES AFTER SUCH DATE OR TO REFLECT THE OCCURRENCE OF UNANTICIPATED EVENTS.
A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment. In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document. The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature. These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.
Thank you!!
I want to take the time to say thank you to everyone of the investors who have joined us on this journey. We are humbled and thrilled that with your support we were able to reach our funding goal.
Now that we have reached this new milestone, we understand that the work continues. Even more important is our ability, and commitment to execute.
Making good on our commitment we have remained busy working to expand SoapSox' brand presence, and drive sales. Although we are in a new environment in the era of COVID19. I believe we can be tasteful in our marketing efforts, and share a positive experience with parents and their children through our product. More than ever the world is full of uncertainty, and what we provide is a little joy, laughs, and tools to teach better hygiene.
We have been working diligently to increase our direct to consumer and Amazon business. As a result of our work we have redesigned our website with a new look and feel that we believe will enhance the shopping experience and increase conversion rates. The same look and feel will also be applied to our Amazon store page in the coming days.
We've also developed several new videos that captures and conveys the essence of our brand to consumers. As well as increased our product bundles to offer more variety to customers. Paw Patrol (see below) and Sounderz are well under way and expect to be launched this fall.
Most changes you will see immediately by using the links below, whiles others are being implemented in the coming weeks.
There will also be additional changes with how we communicate with you, our investors now that the raise is over.
What to expect?
Throughout this transition of moving away from communicating through StartEngine we will do our best to be very receptive to our investors suggestions, and or concerns. Please don't hesitate to let me know how we can best keep you informed of all things SoapSox, or if you'd like additional information or clarification on something. We are a small company with big ambitions, and we believe we are all in this together, because we are. So suggestions, input, professionals contacts, and support are welcome.
We will continue to move the brand forward with a new level of confidence given the resources, belief in the product, and ultimately belief in our team that you all have conveyed.
Thanks to each of you, we are looking ahead and forward to an exciting future.
Cheers!
Ray, and the SoapSox team.
(Paw Patrol SoapSox are in final design stages)
Hi Everyone,
We are extremely proud to report that we have reached another milestone of $1,000,000!!
Because of you, we have raised over $200k in the last 3 days- so thank you. We thank you for believing in what we are trying to achieve, and stepping in to join us on this journey.
We are almost fully subscribed and will likely be oversubscribed. There is only 7 days, so if you have been considering investing make sure to get in while there is still space (or join the waitlist).
Please continue to share our campaign with family and friends. https://www.startengine.com/soapsox
Again, thank you all.
Please stay healthy, and stay home.
Cheers!
-Ray and the SoapSox team!
Hi Everyone,
We are happy to report that we have reached another milestones, and faster than anticipated. We continue to be amazed by the growing number of people wanting to be a part of what we all are creating. We are incredibly grateful and even more excited about our bright future.
As result of the response and momentum, we have decided to extend our campaign an additional 10 days to allow more people to join us on this journey and reach the $1,070,000 max funding limit.
This week, all of our $500 level investors and above will receive their SoapSox perks. Please let us know how your kids respond, and your thoughts about the product. We believe you will be amazed by the quality, "fun"tonality, detail and durability of the product.
Now, the count down begins, and we need your help to reach the funding max. Please share our link below with friends and family. https://www.startengine.com/soapsox
Also remember to do your part and stay home and healthy!
Cheers,
- Ray, and the SoapSox team.
[The following is an automated notice from the StartEngine team].
Hello! Recently, a change was made to the SoapSox offering. Here's an excerpt describing the specifics of the change:
Extended length of campaign.
When live offerings undergo changes like these on StartEngine, the SEC requires that certain investments be reconfirmed. If your investment requires reconfirmation, you will be contacted by StartEngine via email with further instructions.
Hi Everyone,
We are beyond grateful for you, our investors, customers, advisors, and advocates.
While drafting this email I remembered first having the idea of turning SoapSox into a product after a rough spat of trying to motivate a few kids to take a bath. Although ultimately successful due to SoapSox, it was the beginning of our pursuit of the American dream.
As you can imagine there were countless late nights and early mornings. Times when two jobs were a must to fund the business, and more than few setbacks. However, 6 years later, and now owning 6 patents, retail partnerships, funding, and a clear strategy for growth. We are beyond thrilled to have reached this milestone.
We know that these are challenging times in our country and around the world. Proper hygiene, and staying healthy are at the top of everyones list. To do our part, we are working on plans to do more to help families and bring a few more smiles to kids around the country. We will share more in the coming weeks.
For those that have been watching, and are considering joining us on this journey. Please reach out to us with any questions or concerns if there is anything holding you back.
Again, we cannot thank those of you who have joined us on this journey. Thank you for your support and belief in our vision.
It is amazing to see how many people have reached out throughout the campaign to share their enthusiasm for what we have built and how we plan to continue growing this company. It is because of each and every one of you that we were able to reach this milestone and without you, this never would have happened! We look forward to hopefully surpassing many other milestones together and are proud to have all of you behind us every step of the way.
Please do you best to stay safe and healthy.
Cheers!
- Ray, and the SoapSox team.
[The following is an automated notice from the StartEngine team].
Hello!
As you might know, SoapSox has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in SoapSox be on the lookout for an email that describes more about the disbursement process.
This campaign will continue to accept investments until its indicated closing date.
Thanks for funding the future.
-StartEngine
We have reached another milestone and are well on our way to the next.
I want to take the time to share our appreciation for our investors who are now family. Our previous email was well received and allowed us to reach new heights in regards to our raise. We are now well on our way toward reaching the next one.
More than ever I realize how lucky we are to have such an amazing community who believes in what we are doing. Not only due to the kind words and outpouring of support, but it was one of our most successful raise weeks ever, crossing 1,100+ investors and over $600k in amount raised.
These are challenging times in our country, and each of us are doing our best to navigate them. We were told that Soapsox is bringing some joy to kids all around the country, and helping teach them better hygiene. We’ve also been told that parents are happy as well (especially now that everyone is spending a lot more time together).
During these times sales have remained steady, however again nothing is more important than your health and that of your family and friends.
Lastly, if you have considered investing, now is the time. We have positioned ourselves for growth with expanded partnerships with Walmart, Target, and others. We also are looking forward to the addition of new products, and intro into new categories including pet.
We have a bright future and would love for you to be a part of it.
Please share our link below with friends and family. https://www.startengine.com/soapsox
[The following is an automated notice from the StartEngine team].
Hello!
As you might know, SoapSox has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in SoapSox be on the lookout for an email that describes more about the disbursement process.
This campaign will continue to accept investments until its indicated closing date.
Thanks for funding the future.
-StartEngine
Hi everyone,
As I work from home drafting emails, taking calls, and juggling being my wife’s teachers assistant and the PE teacher for our three kids. It struck me that we are all doing our best to manage business and family during these challenging times.
SoapSox despite the challenging times is doing well. SoapSox increased inventory levels months prior to Covid-19 impacting manufacturing in China, and have 4 months of inventory on hand. Domestic sales have increased again for the second month in a row up 350% from 2019. Honest Co. has confirmed the expansion of our partnership with an order pending. Walmart sales are at 1.2 units PWPS, our Target end cap campaign launches April 1st across the country, and we are nearing a new milestones of $500k in investment on StartEngine with 823+ investors.
All of the above is important, however what is most important is you/us, our families, our health. So we will continue to do our part to grow the business, and have a positive impact in the lives of families and kids. We ask that you continue to do your part to take care of yourself and each other.
Also, if you happen to have a call with any parent any time soon, please excuse kids laughing in the back ground, and in my case my two year old daughter trying to wrestle with her big brothers. Although distracting at times, its a sound that makes the little inconveniences worth it. So from my family to yours, please stay safe, healthy, and do you best to enjoy the extra time with the ones you love. We wish everyone the best.
Please share our link below with friends and family. https://www.startengine.com/soapsox
Ray Phillips
CEO
[The following is an automated notice from the StartEngine team].
Hello!
As you might know, SoapSox has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in SoapSox be on the lookout for an email that describes more about the disbursement process.
This campaign will continue to accept investments until its indicated closing date.
Thanks for funding the future.
-StartEngine
Please note that investors at the $500 level receive all new products before they become available to the public. FYI the rest of the Paw Patrol gang are coming soon. Cheers!
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