Pete Warhurst compares the growth and capitalization velocity of his new venture, Red Rover, to his previous company, PODS.
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“I would tell you that, you know, we've been in this now call two years. I'd say we're at the same level pods was seven years into the business.”
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More from Pete Warhurst
Insight
PODS succeeded by wedging between full-service movers and DIY rentals
“And number one is we dropped right in between two major industries, the full service movers, the Mayflowers, the Allied, those guys. And the truck rental people, U-Haul. If you think about it, back in those days, before portable storage, if you want to move fr…”
Pete WarhurstMay 9, 2022▶ 43:37PODS & Red Rover: Pete Warhurst
Insight
Franchising is essentially a capital-free financing tool for rapid growth
“The way to grow a business without capital is through franchising. Franchising is really a financing tool.”
Pete WarhurstMay 9, 2022▶ 47:27PODS & Red Rover: Pete Warhurst
AssertionNot checkable as stated
Former PODS CFO admitted the company makes zero money on deliveries
“I actually confirmed with the CFO at the time. Are you guys making any money at the, on the deliveries and stuff? And he said, no, we don't make any money. He says, if I get rid of that piece of the business, I'd do it in a heartbeat.”
Pete WarhurstMay 9, 2022▶ 1:09:06PODS & Red Rover: Pete Warhurst
PredictionNot checkable as stated
Warhurst predicts Red Rover will steal more market share from U-Haul
“I think we're going to grab more customer share from U-Haul than we will pods, but we will certainly get the portable storage customer as well.”
Pete WarhurstMay 9, 2022▶ 1:12:43PODS & Red Rover: Pete Warhurst
AssertionNot checkable as stated
Automated 911 dispatch cut emergency response times to 15-30 seconds
“We literally took a dispatch process down from several minutes to, you know, tens of seconds, you know, to 15, 20, 30 seconds to get the appropriate equipment on the road.”
Pete WarhurstMay 9, 2022▶ 15:32PODS & Red Rover: Pete Warhurst
What-if
911 EAI Systems would have cratered without Bell Atlantic acquisition
“We were fortunate that the one of the baby bells came along and wanted to buy the business. And so that gave us our exit. But I do believe we would have cratered had we not sold.”
Pete WarhurstMay 9, 2022▶ 20:57PODS & Red Rover: Pete Warhurst
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