« Side Hustle School

Special Feature: Best Friends Stitch Together $2 Million

2018-10-31

Two teachers turn $200 in fabric and a simple idea for children’s education into a seven figure business and a TV deal. 

This special episode of Side Hustle School is brought to you by ShipStation. 

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This is an unofficial transcript meant for reference. Accuracy is not guaranteed.
This special series of cider school is brought you by our long time. Partnership station. The businesses in these features know that shipping wears out on time can be top. That's why they all you ship station, wherever you sell whether you're selling on your own website rainy popular marketplace, gestation brings all your orders into one simple interface. Then you can create shipping labels for all the top Europe's you'll ship, more and less time, with the best rates available right now. Try ship station free for thirty days. Let's get a special bonus when you use the coat hustle had to ship station dot com click, the microphone at the top of the homepage and type in hustle shit. Asian make ship happen either listeners what's up its critical about we're gonna, do something a little different today. This is the second of an eight part series brought to you by our partnership station not for two years gestation has been a sponsor of sawdust in school, I am grateful to them. We have been sending lots of listeners their way and they have a lot of success stories from their customers
including some of their own and some that have come from our community. So we recently did you more than forty of them to bring you ate of our favorites in the special series? And just note on a series of It is new we're focusing on stories of side hustles gone big, not every site, hustle needs to become a full time. Occupation, slowly find a do what works for you, but it can be fun and inspiring to see how far some people are able to go. This is the second one, it's all about to best friends sit together. Two million dollars and a tv deal these two best friends our teachers and that big success comes from start up costs of just two hundred dollars. I loved workin on this when I hope you enjoy it to each short story includes a quick Tipp as well. So let's die right in with case at eight number, two Kelly Kristensen, and Ellie or yard turned tuna dollars in fabric and a simple idea for children's education into a seven feet business and a tv deal. It came from their desire to help parents and children desperate since high school Kelly and Kelly both found they're calling in education. They earned masters degrees.
Elementary, add in school counselling, respectively and then later on. In the Pacific Northwest, while working in schools the parrot about the passion for helping children with their emotional and social skills. They also ran parent, focused workshops to show how these skills could be taught at home. As their classes gained a following. They began to notice. Lots of similar questions arise. For example, many parents needed help with family change like how to care for their child through a tumultuous time, such as a divorce or relocation. Kelly and Tele develop strategies and took it to help those parents. It wasn't longer the workshops and others like it were filled to capacity as friends who do just about everything together. They both found themselves on maternity leave at the same time, so they came up with the idea for a project that could work on the pair, wanted to condense the lessons they taught in their workshops, your parents are taken to all they decided they would create a storybook based on each of the major obstacles. Children faced each book would come with an accompanying hand, puppet like character to guide him through the story and provide emotional support, can
until he dropped simple story lines and designs and set to work creating them. Their initial concepts were glad the Slav who helped with critical thinking an observation Bigfoot who helped with self esteem and positivity, because you know Bigfoot, he's really positive, guy and finally Yeti who helps with mindfulness and concentration altogether. They call the project slumber kins, although they had an abundance of ideas, they didn't happen abundance of cash, so they bootstrap the first series of products on a two hundred dollar budget. They bought fabric had taught themselves So their designs were minimal and simple, because well, that's all they knew how to make they created. Story books in a similar fashion. They did not a print books and every local publisher. They asked wasn't interested so they decided to do it themselves by printing the stories on two pieces of card stock. Then time into the character, it wasn't perfect, but it was good enough to get started Carrie and Kelly made around two hundred creatures to begin with and sold them at local craft fairs in November, two thousand and fifteen. The price they're slim
and using a simple formula. They learned from a friend they took the cost of goods and labour to create one unit, then multiply it by four too fine, a retail price, a bundle product of storybook and creature retails around forty dollars. It took a few craft area, get traction, but by the end of the year they sought all too uttered units and made around two thousand dollars, all of which they invested back into the business, and it was not. To take that business online. They worked from a simple model. They would share photos, Instagram and drive traffic back to their Etsy store, They invested hours sharing with hashtags in commenting on people's posts when they try to their first. Why? thousand followers. They felt it was time to launch the next batch of their hands. Ditch production line Kelly says then sold out so quickly as he couldn't keep up with demand for orders and for at least a few minutes. The back in platform kept freezing. This high demand forced appear to scale they eventually hired local seamstresses in Portland Oregon to help them keep up with me. The extra workforce enable them to produce six hundred slumber kids a month which help him get through twenty. Sixteen, where they sought for thousand units pray, hunt
and eighty five thousand dollars and sales, but again demand grew too much. They had out when overseas manufacturer in twenty seventeen that you're, they sold twelve thousand units for get this seven hundred and fifty thousand dollars Eventually, they set up an online shop. If I store which allow them to tell the larger story of slumber kids, they say this direct consumer model has been clear their success. This year is expected to generate two million dollars and sales and ship over thirty five thousand units. Of course, they're using ship station to make that process much easier, and thus, All Kelly and Tele are now working with the gym. Hence in company to create a network tv show after a chance meeting with an important the garden event. They worked to design a show that would help children learn emotional and social skills. Thanks to the tremendous grew this site hustle turn full time business. They no longer work in schools themselves, but, as Kelly says, they do the work they love in their own business and get to work together as friends.
Well. How about that? A two million dollar business from a couple of teachers in the Pacific? Northwest pretty amazing- and here is the temporal lesson. I want to see Go back to this decision about pricing. They price there, slumber kids using they learn from a friend, they took the cost of goods and labour to create one unit and multiply it by four to find their retail price reason they did. That is because This left some room for wholesale pricing and also ensure they had a good approach. Margin to invest back into the business grumble if your use Wholesale model distributors in a purchase your product for fifty percent of retail. That's what you need to multiply by four, not just multiplied by two. If it costs you ten dollars to make a product like this, you want to set the retail price at around forty dollars, which is exactly what they did and they didn't seem to encounter any price. Since this has been the second of eight special episodes featuring side hustlers. You ve gone big stay too, and for a new one each Wednesday, and if you're ready to take your hostile to the next level, let ship station help you get their faster.
It started today. It should station dot com and use the coat hustle to get thirty days free and a special bonus.
Transcript generated on 2020-04-28.