We The People (WTP), the global arm of the world’s only multichannel crowdfunding retail chain and community, today announced that it is seeking to expand its presence by offering franchise opportunities to open stores across the countrythrough its U.S. subsidiary Funded USA LLC.
WTP established its first U.S.-based store in St. Louis in March 2019 and has plans to open more corporate locations before the end of 2019. In addition, the company is launching franchise operations to boost its global growth by partnering with U.S. entrepreneurs. In the next three years, WTP is planning to open numerous franchise stores in the U.S.
“WTP connects crowdfunding creators with a consumer audience, and we are excited to expand our reach by partnering with entrepreneurs looking to invest in an original franchise business,” said Jay Kang, CEO of WTP. “By expanding the number of WTP storefronts in the U.S. with franchise partners, we will be able to offer creators more retail opportunities and help more entrepreneurs accomplish their vision of owning a franchise.”
The company intends to register and develop franchise partnerships in Missouri, Texas, Tennessee, Illinois, Hawaii, North Carolina, New York, California, Massachusetts, and Florida from 2019 to 2020. Franchises are currently being offered in Missouri, Tennessee, Georgia, and Texas.
Monthly sales for each store are estimated to start at $50,000. Franchisees will pay three to five percent in royalties, as well as a fee for national marketing, public relations, and advertising to support the brand. The WTP team will provide franchisees with training and support, as well as proven ideas for community events and promotions to build connections with local creators and consumers.
Being strong community members is a core principle of WTP. Over the last six months, it has hosted “For Creators, By Creators” (FCBC) events in St. Louis, Las Vegas, and Boston and is planning future events in other U.S. cities. FCBC brings together entrepreneurs to network, learn, showcase, and access resources to build global companies. The next FCBC event will be held in New York City on April 25th. Future locations for events will include Texas, California, and North Carolina.
WTP has built its reputation helping entrepreneurs with education, funding, a roadmap to achieve sustainability, and other support in launching and bringing a crowdfunded product to market. By combining its online platform and brick-and-mortar space, WTP innovated and perfected an internationally proven model to generate revenue for these crowdfunded entrepreneurs and their products.
From a cottage industry, crowdfunding is projected to rapidly grow to $300 billion by 2025, at a faster rate than any other retail channel. Consumers’ growing interest in crowdfunded products, unique inventions, and creators’ personal stories propelled WTP’s growth from zero to six stores in two years.
To date, WTP has brought more than 200 brands and more than a thousand products to the public via its brick-and-mortar and online stores.
For more information about WTP, visit wtpstoreusa.com.
ABOUT WE THE PEOPLE
Established in 2016, We The People (WTP) is the world’s only multichannel crowdfunding retail chain and community. Founded for creators by creators, Ryan Sim, Joel Liew, Nison Chan, and CEO Jay Kang, WTP has gone from 14 brands to more than 200 brands with multiple product lines, featured in six stores in Singapore, Malaysia and St. Louis, MO. In the U.S., consumers can purchase top crowdfunded products through wtpstoreusa.com.
Providing education, e-commerce, and brick-and-mortar retail space for crowdfunded entrepreneurs, WTP is quickly becoming the hub of innovation in Asia and around the world. With its goal to bring together the global creator community, WTP currently has plans for expanding internationally to the United States, China, India, Malaysia, and Indonesia.