Menu
Sign In Search Podcasts Charts People & Topics Add Podcast API Pricing

Beth Benike

πŸ‘€ Person
174 total appearances

Appearances Over Time

Podcast Appearances

The Daily
Her Business Was Thriving. Then Came the Tariffs.

We have a line of products that range from $10 to $30. But the Hero product, the one everybody knows from Shark Tank, that runs $30 retail.

The Daily
Her Business Was Thriving. Then Came the Tariffs.

We have a line of products that range from $10 to $30. But the Hero product, the one everybody knows from Shark Tank, that runs $30 retail.

The Daily
Her Business Was Thriving. Then Came the Tariffs.

I mean, I think lifetime sales were over $15 million.

The Daily
Her Business Was Thriving. Then Came the Tariffs.

I mean, I think lifetime sales were over $15 million.

The Daily
Her Business Was Thriving. Then Came the Tariffs.

There's my brother and I full-time, and then we have three other full-time employees. And then we just brought on two part-time employees to help us. I was just named, actually, less than a month ago. The SBA gave me a wonderful award.

The Daily
Her Business Was Thriving. Then Came the Tariffs.

There's my brother and I full-time, and then we have three other full-time employees. And then we just brought on two part-time employees to help us. I was just named, actually, less than a month ago. The SBA gave me a wonderful award.

The Daily
Her Business Was Thriving. Then Came the Tariffs.

Yep. Small Business Administration awarded me Small Business Person of the Year for Minnesota.

The Daily
Her Business Was Thriving. Then Came the Tariffs.

Yep. Small Business Administration awarded me Small Business Person of the Year for Minnesota.

The Daily
Her Business Was Thriving. Then Came the Tariffs.

And then this past November, we launched in Walmart for the first time. And then just last month, we launched in Target. For a business our size, that's massive. Huge. It was years of effort to get there.

The Daily
Her Business Was Thriving. Then Came the Tariffs.

And then this past November, we launched in Walmart for the first time. And then just last month, we launched in Target. For a business our size, that's massive. Huge. It was years of effort to get there.

The Daily
Her Business Was Thriving. Then Came the Tariffs.

So I think what a lot of people don't know isβ€” You make a contract with the retailers. You agree to a certain price that they're going to pay for your product. And then it's a risk for me. Like, we don't know how it's going to sell. But we know we have this contract and it lasts a year. And we've made the guarantee that we're going to supply them with product for this year.

The Daily
Her Business Was Thriving. Then Came the Tariffs.

So I think what a lot of people don't know isβ€” You make a contract with the retailers. You agree to a certain price that they're going to pay for your product. And then it's a risk for me. Like, we don't know how it's going to sell. But we know we have this contract and it lasts a year. And we've made the guarantee that we're going to supply them with product for this year.

The Daily
Her Business Was Thriving. Then Came the Tariffs.

And so I had to take out additional loans to cover that cost. So I have SBA loans through my bank. But because I already had other debt, I had to leverage my personal property as collateral to get the loan.

The Daily
Her Business Was Thriving. Then Came the Tariffs.

And so I had to take out additional loans to cover that cost. So I have SBA loans through my bank. But because I already had other debt, I had to leverage my personal property as collateral to get the loan.

The Daily
Her Business Was Thriving. Then Came the Tariffs.

Yep. Big deal. Big deal. Big risk. Big risk. And every small business that eventually ends up in one of those retailers, it's the biggest risk.

The Daily
Her Business Was Thriving. Then Came the Tariffs.

Yep. Big deal. Big deal. Big risk. Big risk. And every small business that eventually ends up in one of those retailers, it's the biggest risk.

The Daily
Her Business Was Thriving. Then Came the Tariffs.

I mean, we expected the tariffs. Up until that point, we haven't ever paid tariffs. Our product falls into a category that hasn't had tariffs. We pay tax and duty, but we haven't had tariffs to date. So we knew that was going to be a new thing for us, and we budgeted expecting reasonable tariffs of 20 to 30 percent.

The Daily
Her Business Was Thriving. Then Came the Tariffs.

I mean, we expected the tariffs. Up until that point, we haven't ever paid tariffs. Our product falls into a category that hasn't had tariffs. We pay tax and duty, but we haven't had tariffs to date. So we knew that was going to be a new thing for us, and we budgeted expecting reasonable tariffs of 20 to 30 percent.

The Daily
Her Business Was Thriving. Then Came the Tariffs.

Yeah, we knew that was coming. An overwhelming number of people voted Donald Trump into office, and he talked nonstop that that was something that was going to happen. So we expected to have tariffs. Never in a million years would I expect that tariff would be 145%. Never.

The Daily
Her Business Was Thriving. Then Came the Tariffs.

Yeah, we knew that was coming. An overwhelming number of people voted Donald Trump into office, and he talked nonstop that that was something that was going to happen. So we expected to have tariffs. Never in a million years would I expect that tariff would be 145%. Never.