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Vijen Patel

13 statements across 1 episodes · 2 bullish · 1 bearish · 1 people on the record · first statement Oct 6, 2025 by Vijen Patel · across every show →

On the record as a speaker too: Vijen Patel's record, appearances and statements → this page counts the times other people say the name.

Everything said about Vijen Patel, oldest first

Oct 6, 2025 neutral
Assertion Not checkable as stated
Vijen Patel: 90% of 100 People Pitched Called PressBox Awful
“I think we talked to probably a hundred people over the course of the six months, and 90% of them said this is an awful idea.”
Vijen Patel Oct 6, 2025 ▶ 9:41 Pressbox and Tide Cleaners: Vijen Patel. The $1.99 Gamble That Built a National Brand
Oct 6, 2025 positive
Disclosure
Patel: PressBox chose Chicago over SF for local real estate ties
“Ultimately we had advantages there. Drew is from Chicago, I am as well. We had some relationships with real estate owners Drew specifically did that would help us get some early wins, but this was a hard business. And as we thought about who to hire, who we co…”
Vijen Patel Oct 6, 2025 ▶ 16:09 Pressbox and Tide Cleaners: Vijen Patel. The $1.99 Gamble That Built a National Brand
Oct 6, 2025
Assertion Not checkable as stated
Patel: PressBox Bank Account Swung by $700K Every Two Weeks for Payroll
“Guy, our bank account, I'd get a call every two weeks from our banker, because our bank account would go from positive 300,000 to -400,000, and the driver of it was payroll.”
Vijen Patel Oct 6, 2025 ▶ 39:53 Pressbox and Tide Cleaners: Vijen Patel. The $1.99 Gamble That Built a National Brand
Oct 6, 2025
Disclosure
PressBox Founders Took $40,000 Annual Salaries for Five Years
“I was making almost 300,000 dollars, and I was, what, 27? And threw it all away to make 40,000 dollars for five years, and Drew's the same.”
Vijen Patel Oct 6, 2025 ▶ 34:15 Pressbox and Tide Cleaners: Vijen Patel. The $1.99 Gamble That Built a National Brand
Oct 6, 2025
Insight
Consumers Anchor Dry Cleaning Prices Exclusively on Shirts, Not Sweaters
“I don't know if people know how much they pay to dry clean a sweater, but everyone knows how much it costs to dry clean a shirt.”
Vijen Patel Oct 6, 2025 ▶ 22:44 Pressbox and Tide Cleaners: Vijen Patel. The $1.99 Gamble That Built a National Brand
Oct 6, 2025
Insight
Patel: Locker customer conversion relies on physical proximity to wardrobes
“Proximity to someone's wardrobe. In terms of not even in the buildings of apartment buildings, but also in terms of where we'd go in the apartment building. If we can be, you know, close to someone's wardrobe, we had a higher ability for them to become custome…”
Vijen Patel Oct 6, 2025 ▶ 26:08 Pressbox and Tide Cleaners: Vijen Patel. The $1.99 Gamble That Built a National Brand
Oct 6, 2025 negative
Disclosure
Patel: PressBox should have raised outside capital in 2017
“We talked about we have a few regrets, but one of them is that we should have raised, because at that point, like, my homepage for our computer was my bank account, and I only now realize how unhealthy that was, because we were so focused in our business that …”
Vijen Patel Oct 6, 2025 ▶ 51:55 Pressbox and Tide Cleaners: Vijen Patel. The $1.99 Gamble That Built a National Brand
Oct 6, 2025
Assertion Not checkable as stated
Patel: PressBox Spent $5,000 to Set Up Each Locker Location
“To the unit economics, it cost us 5000 dollars to set up a location.”
Vijen Patel Oct 6, 2025 ▶ 29:09 Pressbox and Tide Cleaners: Vijen Patel. The $1.99 Gamble That Built a National Brand
Oct 6, 2025
Insight
Compounding 98% vs 96% Retention Yields 78% vs 55% Over Two Years
“We realized that the difference between 98% retention and 96% retention, even though it sounds small, when you compound that every month, it's astronomical. The difference, I think, is between having 55% of your customers at the end of two years versus 78.”
Vijen Patel Oct 6, 2025 ▶ 38:23 Pressbox and Tide Cleaners: Vijen Patel. The $1.99 Gamble That Built a National Brand
Oct 6, 2025 positive
Insight
PressBox Avoided Winner-Take-All Mentality, Targeting 3% High-Rise Market Share
“Our view was that if we just capture three percent market share, we're gonna be millionaires. And so we didn't view this as a winner-take-all market.”
Vijen Patel Oct 6, 2025 ▶ 49:44 Pressbox and Tide Cleaners: Vijen Patel. The $1.99 Gamble That Built a National Brand
Oct 6, 2025
Assertion Not checkable as stated
Patel: Roughly 30 of 55 in His 2008 McKinsey Class Became Entrepreneurs
“And so we had, you know, among us, 55 people, I think 30 of the 55 became entrepreneurs. Something around that, that number”
Vijen Patel Oct 6, 2025 ▶ 4:54 Pressbox and Tide Cleaners: Vijen Patel. The $1.99 Gamble That Built a National Brand
Oct 6, 2025
Disclosure
Patel: Pressbox Launched with $240K Founders' Savings and $100K Parental Debt
“We put all of our life savings into it. I had about a 120,000 dollars saved from McKinsey and private equity, and my co-founder did as well, and we're fortunate we raised like a 100,000 dollars of debt from our parents.”
Vijen Patel Oct 6, 2025 ▶ 20:22 Pressbox and Tide Cleaners: Vijen Patel. The $1.99 Gamble That Built a National Brand
Oct 6, 2025
Assertion Not checkable as stated
Patel: PressBox Needed Only 10% Building Adoption to Break Even
“10% to break even.”
Vijen Patel Oct 6, 2025 ▶ 50:21 Pressbox and Tide Cleaners: Vijen Patel. The $1.99 Gamble That Built a National Brand
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