SaaS Interviews with CEOs, Startups, Founders
How to Sell $300k Of Your Physical Product with Trisha Roy from Barn and Willow
20 Jan 2016
Chapter 1: What is Barn and Willow and how did it start?
This is The Top, where I interview entrepreneurs who are number one or number two in their industry in terms of revenue or customer base. You'll learn how much revenue they're making, what their marketing funnel looks like, and how many customers they have. I'm now at $20,000 per top. Five and six million. He is hell-bent on global domination. We just broke our 100,000-unit soul mark.
And I'm your host, Nathan Latka. Okay, Top Tribe, this week's winner of the $100 is Zach Ferron. He's a 22-year-old Apple employee, and he's listening to the show and loving it. For your chance to win $100 every Monday, simply subscribe to the podcast on iTunes now and then text the word NATHAN to 33444 to prove that you did it to enter.
Coming up tomorrow morning, guys, you're going to hear from Derek Bluford. He's 28 and he said no to a $14 million buyout offer.
Chapter 2: How does Barn and Willow generate revenue?
Is he crazy? Okay, Top Tribe, good morning. Cuddle up and really just enjoy my next guest. Her name is Trisha Roy, and she is a product manager turned entrepreneur. She's a design enthusiast and believes technology will continue solving big problems. She's also a big traveler. She's traveled across almost every continent except Antarctica. Trisha, are you ready to take us to the top?
Yes, I am.
Let's do it.
Chapter 3: What are the customer acquisition strategies used by Barn and Willow?
I purposely didn't mention what business you're currently CEO of in the intro. Tell us about it. What's it called?
Sure. So my company is called Barn and Willow. We are a home decor brand and we offer premium quality custom window treatments and home decor accessories at accessible prices. So pretty much at one third the traditional retail price.
Okay. So let's break this down real quick. Barnandwillow.com is the website.
Chapter 4: What is the significance of influencer marketing for Barn and Willow?
When did you create the company? When was it founded?
December of 2014. So it's been about nine, ten months now.
Okay. And how do you make money?
Sure. So we design home decor accessories. We work directly with manufacturers to produce those, you know, accessories. And then we sell directly to consumers through our online store, which is barnandwillow.com.
Chapter 5: How does Barn and Willow manage its costs and margins?
Okay, and walk me through. I'm going to buy. I'm on the store right now. I'm clicking Shop Our Draperies. I found one. It looks great. It looks like it's actually right at a Restoration Hardware. Belgian Flax Linen Drapery. Is that from Restoration Hardware?
It's not from Restoration Hardware.
Chapter 6: What is the current financial status of Barn and Willow?
We work directly with manufacturers. So we are a brand. We are a vertically integrated brand. We design, we manufacture, and we distribute. We sell directly to consumers. So think of us as Apple of home decor.
That's a big statement, Trisha.
Yeah, that's what my hope is, that to create an aspirational brand, yet make aspiration more accessible to home decor shoppers.
Okay, so this drapery is $129. I'm going to buy it right now.
Chapter 7: What are the future growth plans for Barn and Willow?
What happens to the $129?
Yeah, we get the money.
Okay, but what money goes to who?
So we are built on Shopify. And since we are a brand, it's our product. We've worked with manufacturer to produce that linen. We own the linen and we custom stitch the drapery for you based on the size and the style that you've bought. And it gets shipped directly to you from our factory. And then the money comes to our account, Barn and Willow's account. So, yeah, I mean, it's, yeah.
Chapter 8: What lessons does Trisha Roy want to share with her younger self?
What are margins like since you own the whole supply chain? What are your margins?
We keep an 85% margin.
That's gross, right? Not net?
That is the product markup that we keep, 85%.
So I don't know what that means. What's that mean?
If it costs us $100 to make a product, we sell it for $185.
Okay, got it, got it, got it. So in other words, if I buy this for $129, you're going to make sure that you make at least 85% of that product?
Correct, yes.
Okay, understood. What other costs do you guys have besides manufacturing the product? Do you have a big team?
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