Because it was Memorial Day, neither of the guys came in to work on Monday, so obviously neither did I, which was nice because I usually work 9-5 every day and then get Fridays off, so I got a 4 day weekend. When I returned on Tuesday, I got straight to order fulfillment. I figured there would be a lot of unfulfilled orders in the system because it had been a long weekend, and I was very right. I spent a solid two and a half hours in the morning yesterday just fulfilling orders. Maybe that’s because it my first day back over a long weekend, and I felt a little slow and still tired, but every box definitely felt like it took a little longer than usual.
Luckily, when I finally packed up and stuck the shipping label on the last box, I re-entered the office in the middle of an interesting conversation. Brad was on the phone (on speakerphone) with a rep from an up and coming expansion team from the AIHL (the Australian Ice Hockey League). Obviously, hockey is not huge in Australia of all places, but the small league they have there (less than 10 teams) is trying to expand, and the man on the phone was one of the head front office members of the prospective expansion team the Sydney Wolf Pack. He had heard of the brand, and had been in communication with Brad about a possible partnership (basically sending them our player bags in exchange for a TBD cost and some extra publicity). It was interesting to listen in on the phone call and learn about one of the many ways Jason and Brad are using to help get the company out there and get the grand in front of more eyes. I wondered how much publicity an Australian hockey team could really get them, but I guess as a small business, any partnership is better than none at all.
Over lunch, we talked about another interesting facet of the business that I has thus far not known much about: retail. Because a lot of their customer base is in Canada, they recently established a new shipping center in Canada, which will make it easier and cheaper to ship to those customers, but now they were also considering selling in Canadian retail, but met a few problems. Essentially, their main seller, the Player Bag, goes for $199 USD, but despite the exchange ratio, Canadian retailers wouldn’t be willing to sell the bag for more than 200 CAD, which translates to only about $145 USD, and even this figure is decreasing as the exchange rate lowers. Adding on to that, as the nature of retail goes, the seller will only sell something they make profit on, generally around 50%, which means that Pacific Rink would be selling them bags for around $70 each. The kicker? Each bag costs more than $70 to make. Needless to say, this is their main problem when considering potential Canadian expansion, so it’s something they talk about a lot, and it’s always interesting to hear them talk business.
Looking forward to squeezing out every last drop of business knowledge I can from these last few days!