Manage episode 377867595 series 1719045
Amazon OG Frankie Thorogood's Near Fatal Crash To Spectacular Exit in 18 Months
- - *About Frankie*: Not commonly found in traditional FBA circles like Facebook groups or events, Frankie is an old-school seller who's carved out his unique path in the FBA community.
### The Early Years: Starting on eBay
- Frankie shares that he got his start in 2012 on eBay.
- Frankie recounts how eBay served as his starting point before Amazon became the juggernaut it is today. - He believes eBay offered essential lessons in understanding marketplace dynamics.
### Frankie's Iconic First Product: The Snood
- Frankie reveals he started by selling football snoods that gained popularity among Premier League players. - A spike in sales occurred when the Football Association banned the product.
### Tackling Marketplace Dynamics
- Frankie discusses the challenges of maintaining a business amidst stiff competition. - He notes that these hurdles encouraged him to look for more sustainable, unique products.
### Transitioning into Compression Sportswear (early years)
- Frankie shifts focus to compression sportswear, a booming category. - Shares his experience visiting the Canton Fair in China to source quality suppliers. - Talks about how he broadened his product range and brand.
### The Jump to Amazon
- Frankie initially was hesitant about moving to Amazon due to its complex Flat file process. - Decided to take the leap, which coincided with Amazon becoming a dominant marketplace.
### Building a Brand
- Danny questions Frankie about his journey in brand building. - Frankie admits initial resistance to Amazon but couldn't ignore its market significance. - Frankie summarises his journey and the unique aspects of his compression sportswear brand. - *Lemon Market Concept*: A marketplace scenario where product quality is unknown until after the purchase.
- *Focus on Sportswear Fabric*: Quality relies heavily on fabric and fit. - *Customer Feedback*: Importance of involving customers in product development. - *Pitfalls of Rapid Scaling*: Discusses how expanding too quickly nearly led him to bankruptcy. - *Decision to Sell Business*: Explored selling the business after a near-decade in operation. - *Brand Milestones*: Overcame cash flow issues between 2014 and 2018.
#### The Exit Strategy and Beyond:
- Frankie and Danny discuss exit strategy planning, valuations, and Frankie's new ventures post-exit.