Project Repat
company on 1 show · 17 statements across 2 episodes · said 5 times in 2 episodes since 2016
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Latka: Project Repat Generated $750k in November Employing Veterans
“He, you know, in last November, he made 750 grand by making quilts from t-shirts and he employs expats, which I mean, or sorry veterans, which is obviously great, great cause and the money, some of the money goes back to other countries.”
Project Repat converted 7,500 paying customers from 50,000 email leads
“We got about 50,000 emails last year, and we got about 7500 customers from that.”
Project Repat spent $5 to $7 to acquire an email lead
“It's about five to seven dollars to get a new email.”
Project Repat planned to double its Facebook advertising spend in 2016
“And we plan to probably double that this year.”
Project Repat spent $750,000 on Facebook advertising in 2015
“So, so last year in, in total we spent about 750,000 dollars on Facebook.”
A zero-fee Groupon feature generated $100,000 in a week for Project Repat
“So beginning of August, 2012 with little money left, we were able to get Groupon to feature us and to push us national and not take a percentage because we were a social good business, and so and then we sold 2000 quilts in, in a week, and so that put a 100,00…”
Project Repat faced San Francisco investor rejection and dwindling runway
“No investors wanted to give two guys who were making t-shirt quilts any investment money, and so I was back in Boston sleeping in our office, and, you know, there was about 8000 dollars left in our bank account, probably just a couple more weeks of runway”
Project Repat raised $25,000 in 2012 and bootstrapped operations thereafter
“We were in a in a social good accelerator in San Francisco called Better Ventures in 2012, and we got basically raised about 25,000 dollars, but from that, ever since then, it's been bootstrapped.”
Project Repat operates with two founders and one part-time employee
“My business partner and I run the business with one part-time employee, and then we work with textile manufacturers on a daily basis, but we contract out the work. And so we don't pay for production until after the product ships.”
Project Repat targeted $7.5 million in total revenue for 2016
“Our goal is about seven and a half million.”
Project Repat generated $750,000 in revenue during November 2015
“Our biggest month was November. We did about 750,000 in revenue.”
Project Repat grew revenue 2.5x year-over-year since mid-2012
“We've been growing about two and a half X every, every year since we started, which was mid-two 1012.”
Project Repat produced roughly 4,000 quilts in December 2015
“So we made about a thousand quilts a week. And so about 4000 quilts.”
Project Repat earns a 35% to 45% profit margin per quilt
“Sure, so we, so the cost is, I mean, basically each, for each quilt we're making between 35 and 45%.”
Project Repat pivoted to t-shirt quilts after tote bags failed
“No one was really buying anything else we were selling, and so we figured out a way to make an affordable t-shirt quilt, and apparently that's what the market wanted.”
Project Repat produces quilts from customer t-shirts and recycled fleece
“We can make a hundred percent recycled product, so it's with all of your t-shirts, and then the fleece that we're using is, is a hundred percent recycled as well.”