Teen entrepreneur Joseph Daymond launches Templark Stock
Last year we spoke confidently when we predicted that Joseph Daymond, a determined 18 year old internet entrepreneur from Wellington, was one to watch.
Last week the young high-school graduate proved us right.
The newly opened digital fashion outlet is Templark’s primary source of revenue, with advertising and sponsorships taking second place. In a world where the price of CPM display advertising is dropping at a deadly rate and new websites are saturating the market with content, this is a very clever move from Joseph.
“Templark Stock an online clothing retail store with a collection of both boutique and streetwear fashion,” Joseph wrote in an email.
“Its different to others because it will be very content-based and much like a blog with clothing. For example, on Templark Stock, for every item there will be a song associated with the item.”
“Clothing is just as much about emotion as music is and with that connection, users will get a really good idea of how they feel about certain items which is why I’m really looking forward to seeing the response to that feature of the site.”
All clothing sold on the store is acquired through a partnership which is beneficial to all parties involved. The specific arrangement Templark has with brands is a confidential company secret, Joseph tells us, but it works out very nicely for customers, labels, and Templark.
“We’ve created a lot of awesome partnerships with some awesome New Zealand, Australian and American brands. A lot are up and comers but our customers will recognise some from their local streetwear retailers.
“Not to give too much away but we look at these as partnerships, which is why a lot are keen to do collaborations, joint promotions, etc.”
The creation of Templark Stock this has required some funding, which has come from New Zealand’s answer to Kickstarter, PledgeMe.
Joseph ran two PledgeMe campaigns last year in an effort to raise funds. The second attempt was successful, with $2,030 being pledged out of a $2,000 goal.
“The first one was really a test just to see how it would all work,” Joseph said.
“Also I wasn’t too sure yet if it was something I definitely wanted to pursue. It wasn’t until I begun to tell people about Templark.com that I decided I can take this somewhere and then really promoted the second PledgeMe campaign, which is why the second one was successful. It wasn’t until I opened the second campaign that I figured out I have a passion for it and was willing to tell everyone about it without being embarrassed of what people thought which is something that holds back a lot of people especially my age from fulfilling their dreams.”
PledgeMe was chosen because, frankly, a loan was never on the cards for Templark.
Firstly, Joseph says that, with a loan, the financial pressure of having to repay debt quickly and on time can force you to make business decisions that you don’t want to make, and it can also stifle creativity.
Secondly, if you run a campaign on a crowdfunding site like PledgeMe, you’ll be getting thousands of eyes on your brand before you’ve even launched, while you’re raising capital. It’s a definite win-win.
“By connecting to my audience through that way they had a greater understanding of what I was trying to do and were more willing to support as opposed to if I was just to say, ‘Hey guys, check out my site.’”
We get the feeling that this is only but the beginning in Joseph’s career, with more to come as Templark gains popularity. Let’s hope Joseph Daymond proves us right again.