Business name: Tiger Temple
Age: 18
State: Queensland
Forced to scour op shops for clothes that she liked, Hasaballah struck upon the idea of launching an eCommerce site and accompanying blog to showcase little-known designers and offer something to shoppers who want something a little different.
The university student launched Tiger Temple at the start of 2012 and the impact has been immediate. A select range of designers – along with an in-house made brand – with 10 pieces each immediately sold, forcing Hasaballah to ramp up production.
Key to the site’s success has been its fully integrated use of social media, with 10,000 Facebook page views a week achieved through competitions, giveaways and interaction with users.
Hasaballah, who has been accepted into iLab, the Brisbane start-up incubator, also offers a different structure than most designers are used to.
“Many of them are faced with a 50% consignment rate, which isn’t good for them,” she says, “We offer consignment or wholesale and avoid having huge mark-ups. It allows customers to find clothes they won’t find anywhere else at a price that’s very competitive.”
The Brisbane young gun’s immediate goal is to hire staff for her burgeoning operation, before hitting 1,000 sales a week by next year.
“I want to be the market leader in street style, new designers and vintage clothing,” she says. “I think we’ll get there. A big advantage is that I am part of the market I’m selling to. There’s no better way to understand your customers than that.”
It appears not only are barriers such as technology and start-up capital coming crashing down for young Australian entrepreneurs, but also attitudes. In compiling this year’s Future Makers – our annual selection of the most promising Aussie entrepreneurs aged under 25-years-old – one message came through time and again: Investors, business partners and customers just aren’t that bothered about age any more. Maybe it’s the ‘Facebook effect’ of continual publicity of the fresh faced billionaires in Silicon Valley. Or maybe we are just ditching unnecessary prejudices regarding age. Maybe both. Whatever the reason, it’s clear that it’s not startlingly unusual for someone to start a business while at university, gain a legion of customers via social media and raise seven-figure sums in investment before they are out of their teenage years. So which tyros are at the vanguard of Australia’s young entrepreneurs? We’ve picked out 10 start-ups we believe are destined for great things based on their innovation, passion and success to date. To meet the class of 2012, click on each of the profiles below:
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