During a time when people are looking to save money and companies are looking to make it, middle ground has to be made. By eliminating the middle man, DefySupply seems to have found the right formula. They offer the best prices on furniture around, back it up with their price guarantee and draw in those customers that want something fancy for less than sticker price.
Launched just under 1 year ago, DefySupply has experience dramatic growth at a time when many small businesses saw a decline. While this may appear to be an amazing feat to us, for Geoffrey Schwartz and the other 2 partners within this company, it's only a natural. After all, their business helps the consumer save money and this is a time when people want to save.
What was the insbehind DefySupply?
DefySupply was created in response to overpriced retail furniture stores that charge unnecessary markups on everyday and specialty furniture.Â We realized that there was a logistical gap between global manufacturers and residential/commercial buyers.Â Our goal was to bridge this gap, providing customers with the true cost of each product.Â Through the DefySupply network, all unnecessary margins, markups and middle-men are eliminated, allowing all of our customers to buy products at unbeatable prices.
Since it has been nearly 1 year since the business went "live", you must have seen some gradual changes?Â Has the business successfully reached all of it's goals for the year?Â What hopes do you have for your second year?
The significant growth that we have seen over the past year can be attributed to the myriad changes to different facets of our company.Â We have added to our extensive inventory, which is now close to 2,000 unique product lines.Â We have increased exposure by way of frequent Newsletters and new product campaigns.Â And most importantly, we have implemented a Membership Program which provides our customers with even lower prices, more flexible payment options and exclusive gift receipts on certain products.Â All of these changes have had an immense effect on our clientele, which has grown dramatically since DefySupply’s conception.
Each of the aforementioned changes has had an overwhelmingly positive affect on DefySupply’s overall success.Â Â Thanks to our hardworking Sales/Marketing Team and our Fulfillment Team, we have surpassed all of our goals set in the past year.Â While our future outlook remains prudent, our past success has only made us thirsty for more.Â With heightened synergy and motivation to succeed, we look forward to not only reaching, but surpassing our future goals.
While you and your other partners worked to build the business, did you come across any problems along the way?Â What were they and how did you work around them?
With success comes growth and with growth comes minor problems.Â Much like any other successful business, we encountered a few problems along the way.Â Aside from minor speed bumps, the only “problem” that we faced was specific to e-commerce businesses.Â Initially, our site did not have a prominent customer service display on multiple pages.Â However, after a team consultation, we were able to resolve the issue with a “Live Help” option that enables customer’s to ask our employees questions about products and purchases at any time during our business hours.Â Additionally, all of our merchant policies and contact information has been displayed on numerous pages throughout the website.Â Once we resolved the issue it seemed like a majority of our customers felt more comfortable with finalizing their purchases.
What separates your business from the competition?
There are three major aspects of our business that separate us from competition: price, shipping and our exclusive membership program. Our goal since the beginning was to offer consumers the true price of the goods they are purchasing. Unlike our competitors, we have eliminated all unnecessary margins providing the end consumer with the lowest price. Additionally we implemented the Customer Price Promise which serves as another guarantee that our rock-bottom prices are impossible to beat.
Prior to the conception of DefySupply, we worked hard to develop a strong rapport with manufacturers around the world. We are currently working with over 40 separate producers to ensure that our customers receive the best product for the lowest price. This may sound a lot like the traditional wholesaler, right? Well, what sets us apart from our competitors, is that we are able to ship both small and large quantities of merchandise direct to our clientele, FREE of charge! That’s right; our customer’s receive Free Shipping on any order, of any size, at anytime!
Our Membership Program is definitely unique to DefySupply. We offer both monthly and yearly memberships that are beneficial to all of our regular customers. In addition to flexible payment options, members receive discount prices on all of our products. While first time buyers may opt not to choose this option, we strongly recommend our frequent purchasers to sign up and reap the benefits of our Membership Program.
What effect has the recession had on your business?
During business downturns many people tend to jump ship and look for opportunities elsewhere.Â However, our team at DefySupply is determined to succeed even when times get tough.Â Take for example the recent recession that has been taking a toll on consumers all across the globe.Â Instead of faltering like other e-commerce sites, we have found a way to take advantage of these adverse times.Â After a team brainstorm, we developed a new campaign known as the Customer Price Promise which allows for complete confidence and peace-of-mind both during and after the purchase process.Â The Customer Price Promise guarantees that if a customer finds the same merchandise that is offered by DefySupply.com at a lower price anywhere else, we will refund the difference plus an additional ten percent.Â This unique campaign puts the confidence in our consumers click and demonstrates our firm commitment to being the best place to search for and purchase quality furniture items.
What else has DefySupply taught you?
Starting a business is like bringing a new born home. It is difficult and challenging. You will make mistakes and learn from them. But in the end it will grow and become successful. The lessons that we have learned from DefySupply are innumerable, invaluable, and functional. And like the process of bringing home a new born, we’ve learned how to grow into a successful entity. We’ve learned how to properly network and build connections, how to build off of a competitive analysis, how to establish a clear brand identity, and how to work together as a team. And as we look back on our once “new born” that is DefySupply, we can only smile at the growth and success that has followed.
Why did the three of you decide to sell furniture?Â Were there any other potential products considered?
If you don’t find a niche market for a product or service, you will most likely fail. Newcomers in e-commerce often market their products to a broad audience with the hopes that someone might bite. But in order to be successful, you must find the market niche that is composed of consumers and businesses alike that have similar interests and needs that can be reached. Coming from a family who specializes in fabric, founder of DefySupply, Brent Gensler was aware of the constant demand for high-end furniture. He proposed that we find a way to bridge the gap between manufacturers and consumers to offer wholesale prices on quality furniture. This unique selling position supplied us with the tools necessary to successfully find our niche market and meet our consumers’ needs.
Selling furniture has always been our number one priority. However, with an increase in customers and a greater predictability of demand, the economies of scale increase. So you might want to keep an eye out for some new product lines!
Do you think this will be it for you or do you think there might be potential for another business in your future?
With so much success at such an early age the possibilities for DefySupply are endless. Each day we learn together and grow together, solidifying the synergy that we have built these past few years. We look forward to many more years of success and are eager for what the future may hold. And while the potential for another business may be appealing, our sites are firmly set on DefySupply’s future.
Do you have any advice you'd like to share with aspiring entrepreneurs who might be reading this?
In order to capture new market opportunities you need to be innovative. Successful innovation is about listening to consumers needs, finding trends and delivering value to your customers. If you’re having trouble on your own, collaborate with colleagues and build a team of outside-the-box thinkers. But most importantly remember that it is the innovations that tap into niche markets that will emerge successfully.