CostumeWorks is an Internet specialty retail company that sells costumes, decorations, and accessories into the $3.7 billion consumer costume market. CostumeWorks employs interactive web practices, user generated content, and online games and activities to provide a fun, engaging, and entertaining retail experience.

The company was founded in November 2008 because, simply put, I thought I could build a better mousetrap. I was tired of working and buying from businesses who lacked creativity and took a short term view of servicing the customer (i.e. get as much money out of the customer in as short a period of time as possible). Moreover, I viewed the recession as the beginning of a general rejection of the consumerism and buyer's mentality that has come to dominate our culture. In addition to having less disposable income, I believe consumers are becoming more critical of the companies they patronize and will respond favorably to businesses that provide value and are socially responsible. With this in mind, CostumeWorks has made giving back to community organizations a primary focus of our business and will launch this August with over 15,000 items available for sale as well as an extensive community site with holiday recipes, ideas for costumes and decorations, local event information, contests, etc.

While the downturn has made it very difficult to raise money, it has actually helped our company in a number of ways. Having limited financial resources has forced us to view every facet of our strategy and action plan in terms of ROI. This is turn has led us to think more creatively in how to operate the business and build our brand. From an operations perspective, to limit our capital expenditures we have outsourced hosting, sourcing, fulfillment, and customer service with local partners. This strategy not only helps us better manage cash flow, it allows us to scale operations - and better serve our customers - in parallel with the seasonality of our business. On the marketing side, instead of taking the typical branding approach of spending money on online banner ads and paid search, we have developed performance based revenue partnerships and viral initiatives. And because of the slow economy, our operations and marketing partners are willing to try unconventional strategies to generate revenue that they would not have even considered just 12 months ago.

If we are fortunate enough to win the Newpreneur of the Year prize, we would use the funds and work through Alibaba.com to source and manufacture costumes in China for sale to niche markets in the US. There is a significant opportunity to sell holiday specific costumes and decorations to under-served segments of the US market (i.e., costumes that appeal to the Hispanic, Spanish speaking community). The prize would allow us to design, manufacture, and sell these costumes and as a result more quickly establish our brand.

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