Who doesn’t dream of becoming an entrepreneur right out of college? Andrew Kitzenberg, founder of Memory on Hand, is proof that all there is to becoming an entrepreneur is to take something you know and make a business of it. After four years of college, Kitzenberg knew too well that keeping track of a USB flash drive was difficult, losing many over the years. Kitzenberg’s solution was the Memory on Hand (MoH) band, a silicone bracelet clasped together by a USB flash drive. Graduating in May 2010, Kitzenberg not only received his diploma from Babson College, but left with his first sale to a local prep school. The trendy accessory, keeping files accessible at all times, is a big hit among high school and college kids, and at a wholesale price of $7.50 and $9.50, for 2 GB and 4 GB respectively, the MoH band is a good value purchase for high school and college bookstores.
MoH Bands Broaden Customer Base
After exposure in Daily Grommet and The New York Times, and an appearance at CAMEX, the college and campus bookstore expo, MoH band purchases increased. The MoH band is now making more than keystone at $19.99 (2 GB) and $24.99 (4 GB) for bookstores and other independent retailers such as gift shops, in 40 plus states, Canada, Puerto Rico and Guam. According to Kitzenberg, “MoH bands, while popular among students, are well suited for all professions and consumers looking to protect and keep track of their files. I’m working with a law firm right now. Also, the MoH bands are customizable with a 50 piece minimum order.”
While schools and other businesses have the opportunity to customize with colors and logos, MoH bands can be ordered as is, in 20 different solid and multi colors. The minimum order is three dozen when ordering from the current line. Kitzenberg adds, “We are looking to expand our color line and should have 24 in total by this fall. Our most popular to date is the rainforest and milky way colors. We test new colors by posting them on Facebook and receiving feedback from our fans.” The band is available in only one size at this time, 188 millimeters, a standard medium/large size the fits 90 percent of the population. And while it may seem silly to point out, Kitzenberg emphasizes, “The MoH band is not waterproof. I’ve gotten numerous calls on the matter. Perhaps in the future. For now, you can wash your hands safely, but the MoH band should never be submerged into water.”
Kitzenberg has come a long way from his Living the Entrepreneur Experience class to actually living as an entrepreneur. He now supplies to major campus bookstores, including Purdue and the University of San Diego, and has begun a marketing campaign in the Midwest to reach out to other outlets. And while all of this is commendable, Kitzenberg also has vowed to give back to charity, offering 10 percent of MoH band profits to an organization in line with the majority of his customers. This year, Kitzenberg is hoping to make this donation to Scholarship America.
For more information:
Memory On Hand
220 Concord Ave.
Cambridge, MA 02138