Cody Shilson
speaker
74 appearances
1 recordings
1 series
first heard Apr 2025
last heard Apr 2025
Cody Shilson’s voice in public audio — every appearance, attributed to the second.
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Appearances
Right. So these are the issues. What other metrics you got?
yeah so numbers 1.72 million in revenue about 110 000 in profit uh 40 gross margin i would have expected gross margins to be higher for this business and it varies per product tons of you know like certain acrylics i was like expecting like you know one like you buy these trophies and they're like you know a dollar and you're like there's no like this is made of rubber you know but yeah okay so it just varies widely between the products and platform and stuff like that but
And net margin, about 6.4%. LTV, 133. And then CAC, 1190. LTV to CAC ratio, 11 to 1. And that's blended across all channels.
I'm guessing. For the most part, or I'll look at some competitors, but there's not really good apples to apples comparison necessarily. Do you do like a cost plus or like? Yeah. So I have massive spreadsheets of all of our costs, things like that, factor in labor. And then I just kind of add my margins to it and They've slowly been trying to bring that up over the years.
What percentage of customers are new versus return? I would say probably just on our website and internal customers, probably 50-50. Okay, because this is a four-year-old business, so you'd think there'd be a decent amount of return. Yeah, a lot of our business, I mean, $530 in revenue comes just internal, so emails, calls, things like that. Most of that is repeat business.
Do you have very high fixed costs in this business?
Yeah, right.
Yeah, our COGs are pretty high. I do think there's a pricing issue.
Which we'll get to. OK.
Yeah. It looks like. Yeah, it's pretty decent. And I learned that a few months ago coming here the first time, so I started increasing.
That's profit, yeah. Okay. Yeah. Interesting. We estimate people stay about three years, excluding Etsy, Amazon. Yeah. Those ones are a little harder to calculate, but through Trophy Outlet, they order yearly pretty consistently. We've got customers that have been with us for 30 years, you know, things like that, so. So pretty heavy repeat business there.
Once we get a customer, they're fairly sticky.
Yeah, my parents ran the company. They didn't have a price structure. They just kind of.
Every year. Yeah. Interesting. About February, March of every year is when our vendors raise prices. So then I adjust accordingly. Got it. Was their margins the same when they were running it? Much less. Lower. Oh, way low. Like not making money at all. So my mom was running it. I remember very distinctly looking at a product and the cogs on that were like $50 and we were selling it for like 45.
I mean, this does not work. Yeah. So I immediately raised prices. It like, you know, doubled them almost. Okay. And I'm constantly just continually up them. Yeah. I think I have some ideas there. All right. What else you got? All right, so channel breakdown. So direct traffic and internal is our biggest 13 to 1 LTV to CAC ratio. Amazon, our highest conversion rate at 9.6% conversion.
And of course, the blended 11 to 1 LTV to CAC. Interesting.
Okay.
13,000.
in the St. Louis market that we're already in. So he's getting old, wants to retire. And what's he doing in revenue and profit? He does about double what we do, about $3 million in revenue. I don't know profits yet or anything. We haven't even got to that point yet. But he's got a, from what I understand, he does pretty decent on his margins just through communicating and talking to him.
He does a lot more custom stuff, which there's a lot higher margin on some of that stuff. He has a lot bigger orders. which is nice. So he can bring it in from China or from elsewhere and keeps his margins low or keeps his margins higher. I'm sorry. Yeah. I got you. The biggest concern with him is 70% of his revenue comes through one customer.
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