Great story out of Des Moines about Meg Fisher, a recent Drake University grad and founder of Lincoln & Lexi, a start-up that sells fashionable children and baby clothing via home-based parties and the internet.
Fisher came up with this idea in her entrepreneurship class at Drake and then won $5,000 in the Pappajohn’s New Venture Business Plan Competition at Drake University.
From the article by Jeff Eckhoff at the Des Moines Register:
Fisher, 21, hopes to corner the multilevel market in children’s fashions by offering an exclusive line of baby blankets, clothing and accessories for sale via a combination of the Internet and, mostly, home-based parties.
The award-winning idea, born out of a Drake entrepreneurship class and endorsed last month by judges for the Pappajohn New Venture Business Plan Competition, appears to be a unique version of the direct-sales method that’s been used for decades to sell things such as cosmetics and kitchen supplies.
Thomas Swartwood, the adjunct Drake professor who encouraged Fisher to investigate the idea as an alternative to traditional retail, said multilevel marketing is simply a cheaper way for new entrepreneurs to launch any kind of store. It lets entrepreneurs avoid many of the huge start-up costs, inventory and other overhead that can kill a business struggling to find its footing.
Sounds like some cool stuff — faculty, students, business plans, culture — taking place at Drake University. Congrats and I look forward to learning more about the players our there.