Sep 25, 2023
Amazon OG Frankie Thorogood's Near Fatal Crash To Spectacular Exit in 18 Months
-
- *About Frankie*: Not commonly found in traditional FBA circles
like Facebook groups or events, Frankie is an old-school seller
who's carved out his unique path in the FBA community.
### The Early Years: Starting on eBay
- Frankie shares that he got his start in 2012 on eBay.
- Frankie recounts how eBay served as his starting point before
Amazon became the juggernaut it is today.
- He believes eBay offered essential lessons in understanding
marketplace dynamics.
### Frankie's Iconic First Product: The Snood
- Frankie reveals he started by selling football snoods that
gained popularity among Premier League players.
- A spike in sales occurred when the Football Association banned
the product.
### Tackling Marketplace Dynamics
- Frankie discusses the challenges of maintaining a business
amidst stiff competition.
- He notes that these hurdles encouraged him to look for more
sustainable, unique products.
### Transitioning into Compression Sportswear (early years)
- Frankie shifts focus to compression sportswear, a booming
category.
- Shares his experience visiting the Canton Fair in China to source
quality suppliers.
- Talks about how he broadened his product range and brand.
### The Jump to Amazon
- Frankie initially was hesitant about moving to Amazon due to
its complex Flat file process.
- Decided to take the leap, which coincided with Amazon becoming a
dominant marketplace.
### Building a Brand
- Danny questions Frankie about his journey in brand
building.
- Frankie admits initial resistance to Amazon but couldn't ignore
its market significance.
- Frankie summarises his journey and the unique aspects of his
compression sportswear brand.
- *Lemon Market Concept*: A marketplace scenario where product
quality is unknown until after the purchase.
- *Focus on Sportswear Fabric*: Quality relies heavily on fabric
and fit.
- *Customer Feedback*: Importance of involving customers in product
development.
- *Pitfalls of Rapid Scaling*: Discusses how expanding too quickly
nearly led him to bankruptcy.
- *Decision to Sell Business*: Explored selling the business after
a near-decade in operation.
- *Brand Milestones*: Overcame cash flow issues between 2014 and
2018.
#### The Exit Strategy and Beyond:
- Frankie and Danny discuss exit strategy planning, valuations, and Frankie's new ventures post-exit.