The other day I was watching After the Tank.
As an entrepreneur I enjoy watching direction and innovation put into play. Looking for the best next thing has become a part of my daily routine and I am sure yours also.
Here’s the story in a nutshell
A company called Hamboards went on Shark Tank. Robert Herjavic invested in them. Revisiting the company 1 year later they are still not breaking even. His answer was to reduce the number of products to lower their break even point. Great advice.
What does this have to do with Rock Stars, branding or anything implied in the title?
Robert found out that they had launched a t-shirt line creating a lifestyle product. One of the partners rejected this as a “nightmare” and was immediately told he was wrong.
- Your not just selling boards your selling a Lifestyle = T-shirts
- Ferrari decided to bring their branding to a larger audience using T-shirts. They now make up 36% of their business
- T-shirts are the French Fries to the Hamburger
They now not only sell apparel online but have moved into retail. Their brand is becoming a Lifestyle brand that can long outlive their original products. Their lifestyle and legacy branding created revenue with a $20 profit on a product that cost $5.
Here’s where the Rock star comes in
They have used t-shirts as a way to create revenue and promote their brand for decades. Rock stars make quick money and their brand is now worn everywhere. This revenue has kept bands alive giving them the cash needed to stay on the road. They have gas money for their vans, a quick meal on the road and no worries about getting to their next gig.
I was out selling merch to Rock stars and ran into a band with none. I asked them why? There answer was they would never lower themselves to selling trinkets. My answer was – Your fans want this and it can be the difference between staying on the road and having to cut a tour short. They laughed at me. This band won a Grammy a few weeks later and became in great demand. They weren’t ready for this. They had pre-booked many of their shows and were not getting the revenue they expected. In 2 months they had to cancel dates, including festivals because they couldn’t afford to get there. Next time I saw them they had a full merch table and an apologetic attitude. They never cancelled a tour again.
What does this all mean
Simple, don’t ignore the idea of soft goods for your business. If you have a brand that can be a lifestyle you can make a good profit adding t-shirts to your line. If you just want to market your brand there is no better way than having people WEAR your brand. The costs are minimal. Work with a company that has a designer on staff and you can have a great looking shirt for about $4.95 a piece.
Think about this as a wearable business card.
If you have questions, want a quote or are just interested in how this can work for you check out Adirondack Screen Graphics and give me a call.
Jeff -T-shirts – Design – Branding – Marketing – and More…..