Though he has yet to graduate from high school, Raphael Paulin-Daigle has no qualms discussing the global potential of his fledgling business, Shopulse. In fact, he discussed it with hundreds of tech specialists last week at the Launch36 Demo Day, and got a rousing applause.
The company is developing a retail site where small boutiques can sell surplus inventory online, saving the merchants time and not tying up prime retail space with stuff shopkeepers want to get rid of. He has another company as well, Idealinput, which helps businesses get marketing consultants to give feedback on their website.
Not bad for a 16-year-old who has yet to finish Grade 11 at Ecole Mathieu-Martin in Moncton.
“There are lots of shop-sell sites out there but none that help small businesses get rid of their overstock,” said Paulin-Daigle, his English betraying a slight Acadian accent. “We’re helping them solve that inventory problem.”
All small boutiques have a problem with overstock — the excess product that customers just aren’t buying. Usually, the merchant has to put it on sale, taking the time to move it to one of the best parts of the store and make a special sign. It’s cumbersome and costly.
What Shopulse does is give merchants an online platform to sell this excess stock at a discount. They don’t have to shift inventory around the store, and they should be able to reach a larger audience than people who physically visit their store. And by using flash sales (those with limited time), consumers are encouraged to buy promptly.
“I’ve learned that the main reason why boutiques don’t sell online is because they just don’t have the time and money to do so,” said Paulin-Daigle. “So I’m focusing on saving them time by quickly putting the merchandise online.”
The shop will give consumers a customized shopping experience, so they will only see items that match their preferences, size, and style, said Paulin-Daigle.
So is he confident he can take the service beyond the Moncton region?
“There are several hundred thousand specialized boutiques that could be tapped. I want to take it worldwide.”
The story of how Paulin-Daigle got to the point where he is talking about a global enterprise is quite interesting in itself. Last autumn, he already was operating Idealinput and heard that the Launch36 accelerator (which helps to nurture tech startups) was looking for candidates for its next cohort. So he went along to the pitching session.
He didn’t get in, but executive director Trevor MacAusland made him an offer: given his obvious enthusiasm, Paulin-Daigle could join in the Launch36 events and learn from all the lectures and discussions. So he attended all the weekly "fireside chats" and worked at the same tasks as the other teams. MacAusland has helped him as he moved forward on the project.
In November, he had the idea for Shopulse and canvassed enough boutique owners so that he could craft a product he believes will gain acceptance in the market.
He presented with the other Launch36 companies at Demo Day last week, and the response was overwhelming. One veteran venture capital investor who saw Paulin-Daigle’s pitch said he’s not sure he’d invest in Shopulse, but he will continue to watch Paulin-Daigle because he has so much promise as an entrepreneur.
Paulin-Daigle believes he will need about $500,000 in funding to launch the company, largely because he needs a developer to write code for him. He plans to keep working on Shopulse as he wends his way through school.