Business Warrior Positioned for Massive Growth in 2021
The company hosted its annual results call and outlined their strategy for the next year
November 13, 2020 – Business Warrior Corporation (OTC: BZWR), the source for small businesses in America to get more customers, announced its annual results on Thursday November 12, 2020. The company showcased their year in review with highlights including their growing Marketplace revenue, subscriber growth rate increase by 129%, raising over $265,000 of friendly capital and the completion of their 3a10.
These milestones were accompanied with a review of the financial performance which outlined their year-over-year revenue decrease as the company transitioned to its current business model. In the new model, Business Warrior owns 100% of their intellectual property giving them much higher enterprise value and full control of their software-as-a-service (SaaS) product. Here are some key performance indicators showing they’re in line for consistent growth going forward:
- YoY subscriber growth increased by 129% with October resulting in 368 in new subscribers, it’s highest organic growth month since launch.
- Cost per new subscriber decreased by 50%
- Advertising: Average cost per lead is outperforming expectations
- Sales closing ratio is as high as 50%
- Increasing demand for upgraded paid plans
The company shared that due to the shift to a SaaS business model, it experienced an increase to its net loss from $126,112 to $687,161. This net loss was a result of the change to the company’s business model and development costs to launch their own product. Revenue was a change of $1,060,053 in the fiscal year ending in August of 2019 to $386,087 in 2020. The decrease in revenue was a result of the strategic shifts in the current business model in order to set up the company for higher revenue, increased profitability, and maximum enterprise value.
“We made some bold moves in order to create long-term value for our subscribers, employees and shareholders. We knew we had to go through some short term pain with a negative impact to our revenues, but we’ve weathered the storm and our monthly growth rate is back on track. Now we control our own destiny with 100% ownership of our intellectual property. We have the product, the team and the strategy to become the source for small businesses across the United States.” said Rhett Doolittle, CEO and Chairman. The company will be posting their annual financial statements in the coming days.
Improvement to Cost of Goods Sold
Now that the Company owns the software product, the Cost of Goods sold for each new subscriber is much lower than the prior year when the Company was reselling outside software solutions. The lower costs and control of the product experience makes the new business model much more scalable. The Company has built a scalable and highly profitable product, with a sales funnel from a new lead to a paid subscriber.
Small Business Subscribers Seeing Great Results
The company is seeing positive results for its paid subscribers who have subscribed to an upgraded marketing package. The company creates professional advertising videos which are launched onto Facebook, Instagram and Google in order to get their subscribers more customers. The company stated that their marketing packages are outperforming industry standards by an average of 200%. Business Warrior is expanding these services due to the increase in demand and positive results.
The company outlined its path for a positive future. They’re launching a new premium software product in January of 2021 at a lower monthly price, giving free subscribers and easy point of entry. This is a major growth opportunity for the company because it fills a current gap in their product offering and they expect their conversion rate to be much greater than their higher priced solutions. This lower priced SAAS product will also provide an additional path to upgrade to their higher priced solutions. The company will be announcing more details around the new product at the end of the month.
The full results call may be accessed HERE
About Business Warrior
Business Warrior is the source for small businesses in America to enhance their brand and boost marketing results. The Business Warrior software takes a holistic view of a business’s online reputation, listings, website search results and social media. Predictive algorithms are utilized to recommend the most imperative actions needed to drive new customers, positively impact daily operations and improve profitability. For more information, please visit businesswarrior.com.