SaaS Interviews with CEOs, Startups, Founders
The Classy Way to Turn Down a $720k Shark Tank Deal Backstage, EP 283: Kim Kaupe
13 Jun 2016
Chapter 1: What is the main topic discussed in this episode?
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.
Chapter 2: How did Kim Kaupe start Zinepak and find her niche?
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 episode is brought to you by FreshBooks, the invoicing tool that I use to make sure I collect all my money in an efficient manner.
To claim your free month, go to nathanlatka.com forward slash FreshBooks and enter the top in the How Did You Hear About Us section. Okay, Top Tribe, this week's winner of the 100 bucks is none other than Derek Rodenbeck.
Chapter 3: What kind of products does Zinepak create for artists and sports teams?
He is an artist and he's looking to increase his revenue. If you want your chance to enter and to win 100 bucks each Monday on the show, simply subscribe to the podcast on iTunes now and then text the word Nathan to 33444 to prove that you did it. Again, text the word Nathan to 33444. Top Tribe, you are listening to episode 283.
Coming up bright and early tomorrow morning, you're going to hear from Todd Tressider, who breaks down how he retired at 35 in a very weird way. Okay, Top Tribe, good morning this morning. I'm thrilled for you to meet our guest this morning.
Her name is Kim Kaup, and she is the founder of Zinepak, a custom publication company that creates engaging fan packages for entertainers, brands, and celebrities. She graduated with a BA in marketing from the University of Florida and roots loyally for her Gators.
Now, most recently, she was named a woman of influence from the New York Business Journal and featured on ABC's Shark Tank, securing offers from four out of five sharks.
Chapter 4: What was Kim's experience on Shark Tank?
Previously, she was named to Inc. 's 35 Under 35, advertising ages 40 Under 40, and Forbes' 30 Under 30. You can find her most times at Kim Kelp on Twitter. Kim, Are you ready to take us to the top?
I'm ready.
Let's go. Did I mispronounce the name? Is it Zine Pack?
It's Zine Pack.
Chapter 5: What were the terms of the deal Kim sought on Shark Tank?
Zine Pack. So you were super close.
Okay. Sorry, sorry, sorry. So I want to get into the Shark Tank story in a second. But first, you had a lot of success even before Shark Tank. And I bet people never ask you about that because they're so focused on the show. Tell me about life before the tank.
Absolutely. Well, we found a lot of luck when my co-founder and I started the company in 2011.
Chapter 6: Why did Kim ultimately turn down the Shark Tank deal?
We really found a niche to super serve these really rabid fan bases who love artists and specific bands. and really wanted to interact and get to know them in a more personal way. And it's hard to believe that back in 2011, you know, there was no such thing as Instagram. There was no such thing as Snapchat.
So we really were able to create a niche to help people feel close to the artists they love.
So walk us through exactly like last name, the last customer you worked with and tell us what you sell and how you make money.
Sure. So we have product that's out right now with two of my favorite artists, two great guys, Justin Bieber and Shawn Mendes. So if you are out and seeing them on tour over the next couple months, you can see pieces that we've done with them through their VIP. So if you upgrade and buy those extra expensive tickets that lets you meet the artist or sit in the front row,
Chapter 7: What strategies does Kim use to manage her business effectively?
some of that exclusive merchandise that you get as a part of that package we created.
So it looks like for Shawn Mendes, it's a very cool little world tour passport concept, 16 pages with a membership card as well as photos and notes from Shawn on the road. It looks like you're working directly with his, it looks like the client's 237 Global. Is that who's managing his tour?
They're managing all the VIP services for his tour, yes.
Got it. So you work directly with them. What do they pay you for this?
Well, we work with them and management. It's kind of like a big smorgasbord.
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Chapter 8: How does Kim define success in her entrepreneurial journey?
Everybody has to get along. You know, there are some cases where, and I'm sure, you know, your listeners can go through this too, where, you know, a company might really like it and they take it to management, the artist, and the artist is like, I'm not really feeling it. So, you know, everybody has to sign off. But yeah, that's our direct client. And with them, we were really like an agency.
So very much like a wholesale system where we'll sell them, you know, the passport, let's say for three dollars. They'll in turn market up for five, whatever the amount needs to be between them and the artist and sell it for, you know, twenty dollars or fifteen or whatever kind of they decide with the artist.
And so and what's typical like size of order for a Shawn Mendes? They would they order like one hundred thousand or how many?
Sure, that really depends on what it's being used for. You know, we've done album launches, for example, with Katy Perry, and she's ordering north of 200,000 units of something. So that can be a very large order. Or we've done as little as, you know, 500 units of something that the band is individually numbering and individually signing, and we're only going to create 500, and they're
you know, that's going to be it in terms of like, it's never going to be printed again. And it's, you know, more of a collector's item. So the range is really kind of varied, but I would say on average, anywhere between 5000 and 20,000 units.
Okay, 5000 and 20,000 units. And obviously, it sounds like it sounds like depending on what's included in the in the kind of VIP pack, your price will vary. What does it vary from typically is like three to $5 that you sell it to the client for what?
Yep. You hit the nail on the head.
You have to come work for me. All right. That's awesome. Three to five, three to five. Okay. And what does it typically cost you to make?
We always try to shoot for anywhere from, you know, a 20, 25, 30%, 35% profit margin. But I have to be honest, I have girl crushes just like everybody else. And there have been some artists where if we can't get the numbers work to work, I'm just like, fine, you know, we'll do it. It's Taylor Swift. And I'm so excited. So, you know, there's always a little bit of that.
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