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This is Chris Redgrave for Zions Bank Speaking on Business.
In a time when budgets remain tight, aren't we always looking for a deal? Who out there doesn't love to buy things at a discount? In the past few years, 50 million Americans have signed up for a "daily deal" or "group coupon" site. These are people searching for a good deal on anything they buy.
If they're looking for toys, Nathan Thompson, Shawn Bell and Jerry Naylor may be able to help through their Twin Falls, Idaho-based company, E Shop. Just four years ago they started purchasing deeply discounted name brand toys from big box retailers after Christmas with the intention of selling them for a profit.
It was intended to be a side business, but the first Christmas was so big that all three quit their jobs, or in Nathan's case, college, to work the business full-time. They rented a 2,000 square foot space to store their toys and only a year later grew out of it and purchased a 13,000 square foot warehouse.
Growth for this company has been outstanding in the last four years. They now buy large quantities of closeout products directly through manufacturers and closeout companies. They also bring in containers of goods, which gives them a competitive edge in online sales. Just last year they started selling their toys through Toys R Us and Overstock.com, and they already provide toys for the Amazon.com fulfillment program.
The first time they filled an order for Amazon.com, they filled a trailer with their toys and drove from Idaho to the Reno facility ready to unload the products. The Amazon employees didn't really know what to do, so Nathan, Shawn and Jerry had to stack all the boxes onto pallets themselves. They were glad this was their first and last personal delivery.
Before purchasing any toys, Nathan says they have a pretty good idea of how well they're going to sell, so their inventory is constantly moving. With Halloween being the No. 2 spending holiday, this year E Shop is planning to offer Halloween costumes.
For Zions Bank, I'm Chris Redgrave, speaking on business.
E Shop LLC 150 Madrona St Twin Falls, ID 83301 208-734-9151
