Melissa & Doug was bootstrapped by reinvesting all early revenue into inventory
Melissa Bernstein · Melissa & Doug: Melissa And Doug Bernstein · Dec 19, 2016 · at 15:44
Melissa Bernstein, co-founder of toy company Melissa & Doug, describes how she and Doug funded the early manufacturing of their puzzles without taking outside loans or investors.
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“We wanted to be self-funded, and we lived incredibly frugally. For at least three years, we ate ramen noodles, which were eight for a dollar, and turkey hot dogs on a hot plate, because it was about 50 cents a meal, and we lived with our parents for a few years until we could, you know, literally get one room in someone's home above their garage and help them with errands for, you know, a Decrease in rent. And we, you know, fueled every cent that we made back into inventory.”
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