Es una pena que no explique la venta a Jim Daley.
Este es el enlace: https://treptalks.com/interviews/will-r ... card-decks
Aquí la entrevista en youtube: https://www.youtube.com/watch?v=-dNQ-4G8chE
Intro
Will Roya of PlayingCardDecks.com shares the story of creating a successful Playing Card Decks ecommerce business as a result of his background and passion for magic. Will emphasizes the importance of SEO, organic growth, carrying a wide selection of unique decks and building a strong brand as ingredients for his success. Will also shares his rationale for selling the business and the process of finding a buyer.
Episode Summary
Will Roya, the founder of playingcarddecks.com. Will shares his background in magic and how he started the business selling playing cards online. He discusses the competition in the market, their product offerings, and their strategies for attracting customers. Will also talks about the decision to sell the business and the process of finding a buyer. He shares his approach to running a business and his plans for starting a new venture. Will emphasizes the importance of SEO, organic growth, and building a strong brand. He also mentions his interest in AI technology and his new business, Puzzle Merchant. Overall, Will’s story showcases his journey as an entrepreneur and offers insights into the e-commerce industry.
00:00:00 In this section, the host introduces Will Roya, the founder of playingcarddecks.com. Will shares his background in magic and how he got the idea to start the business. He started performing magic shows at a young age and later transitioned into selling magic tricks online. He noticed that playing cards sold well and decided to start selling them on his own website. Will also discusses his experience with e-commerce, mentioning that he had previous experience with eBay and Amazon. He talks about sourcing products from different suppliers and even producing his own line of decks. The host asks about the market demand for these products, and Will confirms that there is a niche market for playing cards.
00:05:00 In this section, the interviewer asks about the competition in the playing card market and the products that were being sold. The interviewee explains that while low-quality playing cards can be found in dollar stores, their company offers high-quality cards printed by reputable manufacturers, as well as limited edition custom decks. They also highlight their advantage of having one of the largest selections of cards in the market. The interviewee mentions that they have been able to carve their slice of the market through their extensive selection, in-house fulfillment, a large blog with SEO, a loyalty program, and regular promotions. When asked about building their audience, the interviewee states that they were primarily focused on the business aspect and did not heavily rely on their skills as a magician to attract customers. As for the decision to sell the site, the interviewee mentions that it has been about five years since starting the business and is likely ready to explore new ventures.
00:10:00 In this section, the speaker discusses their decision to sell their business and how they went about finding a buyer. They worked with a brokerage called Quiet Light, who helped them with the valuation and finding a buyer. The speaker also mentions that they read a book by the founder of the brokerage, which provided helpful insights into the selling process. They are satisfied with the sale, as it allows them to clear a certain amount of money, even after taxes. Additionally, the speaker mentions that they own a commercial building where the new owners are now paying them rent to operate. The speaker goes on to describe their team and operations, including a full-time shipping manager, freelancers for content creation and social media, and freelance artists for card designs. They also mention that they decided to sell because they believe their strong suit is in starting and growing a business, not managing a larger team.
00:15:00 In this section, the business owner discusses his approach to running a business and the trade-off between keeping operations light and maximizing profit. He mentions that while they were operating efficiently and making good profits, he decided not to pursue significant growth because it would require expanding the staff and hurt profitability. When asked about starting a similar business today, he shares that he would follow a similar model but focus more on the Shopify store instead of Amazon. He plans to start on eBay, build an audience, and then utilize email marketing, text marketing, and eventually paid advertising to drive revenue. He also emphasizes the importance of SEO and organic growth. In terms of sourcing products for his new business, he mentions attending wholesale and toy shows and finding vendors through those channels.
00:20:00 In this section, the speaker discusses a wholesale website called fair.com, which offers a variety of products, including playing cards and puzzles. The website allows users to purchase smaller quantities of items and provides a 60-day payment option. The speaker explains that they follow the map policy, which means selling products at the same price as others. Their strategy to compete is to have a wide range of products to attract a larger audience. When it comes to managing the risk of starting a new business, the speaker believes that investing in inventory is necessary but less expensive than ads or retail space. They have invested $4,000 into 300 different products and aim to have around 1,000 products by the end of the year. The speaker also shares that vendors can provide information about their best-selling items. The profit margin is typically 50%, and attending wholesale shows can lead to additional discounts or benefits. Although there is no guarantee of success, the speaker is not worried about money and is building the new business slowly at their own pace. They believe in putting in the necessary work and gradually phasing out their previous business.
00:25:00 In this section, the speaker discusses the difference between the wholesale model and building your own brand in e-commerce. They mention that building their own brand with their own products from scratch is risky and cost-intensive. They also discuss the challenges of selling on Amazon and the higher return rate on the platform. The speaker emphasizes the importance of building awareness for your brand and the need to have multiple SKUs before suppliers will carry your product. The speaker also talks about their fulfillment process, mentioning that they always did fulfillment in-house and the importance of careful packaging for delicate items like playing cards. They conclude by noting the importance of trying different things as an entrepreneur and learning from past mistakes.
00:30:00 In this section, Will Roya discusses the various strategies they tried to grow their business, including an affiliate program and merchandising, but found little success. However, they did find success in building a popular loyalty program and implementing the Afterpay program for buy now, pay later options. They also found success with texting as a marketing tool. Looking back, Roya mentions three missed opportunities for the new owners: starting Amazon FBA, running ads on their blog for revenue, and pursuing wholesale customers to sell their decks to. As for the future vision, Roya plans to grow the new business to a certain size and sell it in about five years, similar to their previous business. They also mention somewhat regretting starting another business during the pandemic, as it wasn’t given enough attention. Ultimately, they sold the business because they were ready to move on and not ready to take it to the next level.
00:35:00 In this section, the speaker discusses the impact that a certain book had on him, which inspired him to start a new business. He also shares his interest in AI technology and his preference for keeping a written schedule and not relying too much on technology. The speaker mentions companies that he admires, such as BarkBox and Uline, as well as the advice of having more items to sell. He also explains how he transitioned from his career as a performer to focusing more on sales due to market changes. Finally, he mentions his new business, Puzzle Merchant, which will be launching soon.
00:40:00 In this section, the host thanks the guest, Will Roya, for sharing his story and participating in the trip talks. The host wishes him success in his new venture and expresses gratitude for his contribution to the show.