Meet Ted Hoffman of FLY (Barbershop)

Today we’d like to introduce you to Ted Hoffman.

Ted, can you briefly walk us through your story – how you started and how you got to where you are today.
I think the expression, “Life is a Journey” fits well for the FLY story. After spending a career in finance (equity trading) between New York, running a trading desk and Dallas, a partner in a hedge fund, I find myself in uncharted territory. A former relationship that started in 2012 led me to a passion project. My ex, a professional in the hair world and I built a barbershop on a 1969 Airstream.

Undoubtedly, one of the coolest projects/experiences of my life – having done a significant portion of the buildout/construction myself. The barbershop experience turned into a great business model. We were able to connect with and get approval from Dallas building owners to create a permanent weekly parking schedule. With the help of young eager stylists/barbers, we built a successful barbershop business for a few years. Whether it was luck or the powers above, we added FOSSIL World HQ as one of our weekly stops (Richardson, TX).

Overtime, the founders developed a strong rapport with several creatives, which led to discussions on phase 2 of FLY – Products! With the help of three talented individuals (designers/merchandiser) and working in their spare time, we created what has become known as FLY, a Men’s Grooming/Apothecary Product Company.

The journey as I mentioned at the start has had some twists and turns. I am no longer with my girlfriend and she is no longer apart of the business on any level. Two of the three team members have subsequently moved on with theirs careers and left the state.  The last team member is now a partner, Art and Creative Director.”  The Barbershop is no longer in use (for now), but our master barbershop in Nashville is on call.  FLY will be focusing 100% on products.

Our core product and first to the market is FLY Pomade No.1. In the coming weeks, with the help of an amazing product laboratory here in Dallas, FLY will launch three new additional product (2 Hair and 1 shave) to join our pomade and our NEW leather FLY Dopp Kits.

2018 will see a portfolio come to fruition, a distribution all over the US and the building of our HQ/distribution in a warehouse I own in the Dallas Design District. Exciting times…

Overall, has it been relatively smooth? If not, what were some of the struggles along the way?
Nothing is ever smooth! 🙂 Startups are HARD, let’s not sugarcoat. I have self-funded this business without paying myself a salary. The loss of team members/talent is very challenging. Rejection is PART of the equation. If you make 10 sales calls, converting 2 of them as customers is a win. You can only control yourself and your skill sets and are often let down by the lack of efforts from others.

Finding the right laboratory was a challenge – even getting them to call back. Finding helpful packaging companies was a challenge – since you are such a small customer, lack of interest.
Capital constraints is always an issue.

Please tell us about FLY (Barbershop).
We are approaching a major inflection point in the business model. After shifting into a product company only, in the fast-growing men’s grooming category, we have focused on building our portfolio by adding more sku’s.

We have several characteristics that separate us vs others. Our aluminum packaging, the branding, and name visually draw you in. We invested a lot into the packaging and think it will pay off. Our price point has created a great value purchase for our customers, And lastly, our fragrance is our secret weapon and biggest separator. If a potential customer is able to expense the scent, we can usually close the sale!

If you had to go back in time and start over, would you have done anything differently?
Hard question to answer. I think it’s important to face challenges and failures, it makes to stronger and malleable. I have already changed teammates, the packaging and strategy several times since we launched.

I will, however, avoid launching a business with a loved one again! 🙂

If I were to start over again, I would have tried to raise outside capital to help fund the business.

Pricing:

• FLY Pomade No.1 – $18 Retail
• FLY Dopp Kits – $98 Retail

Contact Info:

• Website: flybarbershop.com
• Phone: 917-974-8385
• Email: info@flybarbershop.com
• Instagram: @flybarbershop @flybrandceo
• Facebook: https://www.facebook.com/FLY-Barbershop-107677479427294/
• Twitter: @flybrandceo

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