Disclosure certainty 3/5 debate potential 1/5

FormPiper closes annual furniture retail contracts between $1,500 and $2,000

Brad Parker · $225k in MRR with $50k/mo in profits. How this non-tech founder built a bootstrapped SaaS selling to furniture stores. · Aug 12, 2022 · at 17:33

Brad Parker is the founder and CEO of FormPiper, discussing contract structures and ACV for furniture retailers.

0:00 / 0:09exact quote · 9.1s
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“Most of our contracts are being done annually now. I'd say probably 90%, and we're closing those in the furniture space around 1500 to 2000 dollars, depending on how many locations they have.”

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More from Brad Parker

Assertion Not checkable as stated
FormPiper dominates its initial niche, capturing 60% of pet retailers
“So you really only have about 200 pet retailers that our product would fit for in the market. And we have about 60% of them.”
Brad Parker Aug 12, 2022 ▶ 7:16 $225k in MRR with $50k/mo in profits. How this non-tech founder built a bootstrapped SaaS selling to furniture stores.
Assertion Not checkable as stated
Parker estimates 40,000 furniture retailers fit FormPiper's model
“And then, so what we've been doing is focusing in the furniture space and the furniture space, you have about 40,000 retailers that fit our model.”
Brad Parker Aug 12, 2022 ▶ 7:25 $225k in MRR with $50k/mo in profits. How this non-tech founder built a bootstrapped SaaS selling to furniture stores.
Insight
Parker: Consumers shop by monthly payment size, not total price
“And that's just how consumers shop, right? They're shopping based on the monthly payment that they can add to their budget, you know? So you need to be able to have products that can get that payment as low as possible.”
Brad Parker Aug 12, 2022 ▶ 9:21 $225k in MRR with $50k/mo in profits. How this non-tech founder built a bootstrapped SaaS selling to furniture stores.
Disclosure
Brad Parker rejects balance-sheet lending risk in favor of platform fees
“I don't want to be in the banking business loaning out, you know, Hundreds of millions of dollars. I'd rather somebody else do that and just give me a piece.”
Brad Parker Aug 12, 2022 ▶ 10:19 $225k in MRR with $50k/mo in profits. How this non-tech founder built a bootstrapped SaaS selling to furniture stores.
Assertion Not checkable as stated
FormPiper processes up to $350M in annualized retail transaction volume
“Now we're close to So about a hundred and fifty million in revenue through the lenders we represent, but we're probably running about 300 to three hundred fifty million in transactions through FormPiper or our retailers.”
Brad Parker Aug 12, 2022 ▶ 3:31 $225k in MRR with $50k/mo in profits. How this non-tech founder built a bootstrapped SaaS selling to furniture stores.
Disclosure
FormPiper captures an average 1.5% take rate on financed volume
“Yeah, it's on average about one and a half percent.”
Brad Parker Aug 12, 2022 ▶ 3:58 $225k in MRR with $50k/mo in profits. How this non-tech founder built a bootstrapped SaaS selling to furniture stores.
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