Puyallup, Washington, US
Puyallup, Washington, US
First time founder
I am looking for a business partner to take VFE Pedals (audio effect pedals) to the next level. All the specific details of the role, including pay and potential equity, are variable, and will ultimately depend on what the prospective partner brings to the table. However, these details are secondary, and will be ironed out once the right person is found for the job.
First, here is an overview of the VFE business model in 2014:
There are 2 primary sources of income - VFE Pedals (which includes VFE Store) and VFE Custom. VFE Pedals is the principal brand name, and is the arm of the company that sells wholesale to dealers and distributors around the world. VFE Store is a simple extension of VFE Pedals - a website where customers can order directly from VFE Pedals (which yields much higher profit margins). VFE Custom will be a new business, and will deal solely in built-to-order and experimental pedal designs. It will have the highest profit margin, but it will also cover all R&D costs to develop many new products. However, VFE Pedals will not put all the products developed by VFE Custom into it's product line. VFE Pedals will build only the pedals that it believes will be good sellers for our dealers and distributors.
In 2014 I will run VFE Custom on my own. VFE Pedals will be run as a partnership - all major decisions will be made together. VFE Pedals will be able to use any & all products developed by VFE Custom, license-free. This removes the significant cost of bringing a new product to market - VFE Pedals could bring a new product to market and make a profit after selling just 10 units, even at wholesale prices!
Initially, we will both carry the labor load of building pedals. Once demand consistently exceeds 250 pedals a month, we will hire our first full-time builder. The goal is to remove pedal building from both of our roles by the end of 2014. To do so, I estimate sales will need to average around 500 pedals a month, which can be built by 3-4 full time builders. Wages for building pedals would have a base pay + per unit pay. This will help us manage costs and encourage efficiency. We would develop the exact details of this system in 2014.
Here are few details about some of the tasks I want to hand off to a business partner:
- Managing the books, including taxes, reseller permits, and other legal obligations
- Managing invoices and product inventory, including vfestore.com
- Managing all of our marketing channels, including social media
- Managing production, including ordering parts and keeping track of part inventory
A good chunk of this role can be done from home, but most of it requires coming into the shop in Puyallup, WA. This is especially true early on, as we will both be working in the shop building pedals.
University of Washington
Bachelor of Arts - Mathematics
2004 - 2004
University of Phoenix Online
Masters of Education - Secondary Teaching
2012 - 2012