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Meet the Netflix for Ties

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  • Description

    Scott Tindle, co-founder of Tie Try, on TieTry, his company, which lets users rent ties through the mail.

  • Duration 3:30
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This transcript is automatically generated

My next guest is taking a page out of Netflix is popular movie rental by mail service.

And applying it to its necktie business joining me now for this week's small biz big idea.

We got Scott Kendall co-founder of -- trial.

He's in Pensacola thank you very much for being with a Scott -- -- -- -- I don't think I would have been Smart enough to fund the business like this -- it just sounds.

Two strange.

Explain for us how it works.

Right so.

You know -- first even do you think it's a little change but when you really look into it if it really makes a lot of sense -- what our subscribers use they come to our website.

And they choose the ties they want.

And we send them to and they Wear them as often as as they want send him back as soon as they're ready.

And as soon as we get the ties back to our office we send them the next ties in their Q so really first brought a small.

Monthly price our subscribers are able to where hundreds of dollars worth a neckties ran out and a lot of our most our ties retail from you know at least 75 -- -- hundred dollars so.

For twelve dollars you know you can get great value -- us.

Right so if ya -- can -- one that I have per month for twelve bucks.

And and by the way -- I Wear a tie for Dave -- back in can I get my second time that very same month one -- at a time I can get ten tied in the same month.

Absolutely I it's unlimited exchanges for the month -- them.

While the subscription is based on number of ties in hand it's it's really just like the way Netflix works -- on if you sign up for three -- -- -- there's three ties.

In rotation and you know we can send you know doesn't monetize for the month you starting January how many subscribers pay answers -- that -- up now.

Well we launched in January with -- what we really consider a beta and then really we've been full speed since about April.

And we have subscribers in 35 different states in we had -- year one goals we surpass those by the into the second quarter consumer grown at a great rate it almost a 100%.

But a multi million subscribers per 35 states have seventy people -- give us some kind of ballpark at two million up to a thousand -- Yeah whoa whoa -- we're -- pretty well you know it's kind of proprietary as did the exact number -- -- we're really happy with -- -- -- -- and who.

You're not we're not usually brag about the numbers based on the -- that -- -- -- now let's go to an obstacle look at is every ounce or.

Or have to overcome obstacles the biggest what I can think -- to -- number one.

A lot -- guys.

We have sixty ties and we -- the same seven ties all the time I'm not sure we're looking for diversity.

But second there is the yuck factor I'm not sure -- where are tied at some other guys been museum where it had to get over that.

Sheryl start with -- number one you're exactly right we started -- around most guys were just like us we had you know 405060 doesn't cause and -- -- where in the same ones over and over.

But what you can do touch ours you don't have to get stuck with those same once in the same city where never over and over again you get one for much you -- it.

You know.

At one point you bought that -- because you liked it -- so well shouldn't get that I -- one -- twice however and he wants in the back doesn't.

You can always gonna back later if you wanted to get a we have guys that -- -- special occasions -- they want.

So what we do is we allow the diversity without having to put -- that up front investment.

And for point number two -- -- -- that we have or a rigorous process -- sanitation and cleaning since the young factors nodded.

Not yet a word got -- fact our our ties are cleaner than the ones in your closet I assure you -- -- you know based on the back of my -- -- -- food Bev I'm sure they are thank everybody for being with us Scott Kendall co-founder of -- try and good luck -- Thank you grabbed me.

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