I Spent $20K To Open A Store In NYC — Now It Brings In $1.6 Million A Year

In today’s world, where everything feels interconnected and easily accessible, the uniqueness of individual expression is often compromised. This phenomenon is particularly notable in industries driven by trends and popularity, where consumers find themselves surrounded by a saturation of similar products and services. Amidst this backdrop of sameness, there are individuals and businesses daring to carve out their identities through personal, interactive experiences. One such standout is Abby, a 29-year-old entrepreneur and founder of Abode, a custom embroidery brand based in New York City.

Abby’s journey into the world of entrepreneurship began as a spark of creativity blended with personal passion. “There’s just so much sameness,” she shares, emphasizing a pervasive sense of uniformity across the market. Recognizing this gap, Abbey set her sights on launching a brand that transcended the transactional nature of retail, offering experiences that celebrate individuality rather than conformity.

At the heart of Abode is the concept of personalized embroidery. Abby explains, “We take things that people love, whether it’s their pet, their handwriting, or a food they adore, and we try to make it fun and interactive.” Reimagining products like cocktail napkins, tea towels, and robes, Abode allows customers to choose designs that resonate on a personal level. She emphasizes that it’s not just about making a purchase; it’s about engaging in an experience where personal stories and memories come to life through embroidery.

Upon visiting their storefront, customers are invited to partake in a hands-on process where they can select their preferred icons and text. This unique feature culminates in an order that’s either completed on the spot or sent to the studio for more elaborate requests. Abby shares, “[I] created this kind of jewelry box that shows all the different icons,” making the selection process not just simple but meaningful.

While building her business, Abby quickly recognized the uptick associated with the holiday season, noting, “We do make all of our sales in Q4, like a lot of product-based businesses.” As a testament to her hard work and innovative marketing, Abode is on track to reach four million dollars in sales this year. “This summer was amazing because we were on the Ritz Carlton yacht collection and we sailed with them from Barcelona to Rome on their inaugural sale. Brought our machines to Europe. It was crazy,” Abby recounts, emphasizing the excitement and opportunities that come with building a brand that others want to be associated with.

However, the path to success wasn’t without its challenges. With a start-up capital of $10,000 upon graduation, Abby embarked on her entrepreneurial journey with an ambitious spirit but little knowledge of the intricacies involved in running a business. “As I was getting ready to graduate, I was like, ‘What am I going to do now?’” she recalls. Her answer lay in the creative storefronts of fellow burgeoning entrepreneurs in New York City.

Walking through the city, she discovered numerous vacant storefronts. “I just started walking around and calling phone numbers,” she recollects. This hands-on approach manifested into a physical space, but not without initial struggles. Abby recalls, “Our overhead was pretty low other than our rent and the few employees,” managing costs while scaling operations proved to be a slippery slope.

To diversify and add flair to her offerings, Abby invested $15,000 in an industrial embroidery machine despite having no prior experience with the craft. “I just thought it would be a fun thing to add to the store,” she explains. This decision became pivotal in their business’s evolution, but the early days also led to numerous hurdles. As she hired additional employees, her expenses increased and the once-vibrant demand began to wane. “I needed help on finances, operations, things like that,” she says, finding herself at a crossroads that forced her to reassess her venture.

In the midst of navigating these challenges, Abby crossed paths with Daniel, the COO and co-owner of Abode, who brought with him a wealth of experience from tech and startups. “I started off my career as a product manager at a few companies including startups and at Uber,” Daniel shares. His entry into Abode coincided with a critical juncture in the business—a time when it was searching for its identity. “I really think we got to just go full in on embroidery,” he insisted, recognizing the potential it held.

This revelation was the catalyst for growth, transforming the ways they marketed their offerings. Custom embroidery events transformed into fun pop-ups, drawing eager customers who wanted a personalized piece on the spot. The shift turned into a whirlwind of popularity when they hosted a collaboration with LLBean, which saw thousands of customers lining up outside the store for the chance to personalize their products. “I think people were waiting for over four hours to get their bag,” Abby shares, describing the overwhelming enthusiasm that validated their creative vision.

As business surged, so too did the complexity of operations. “Around 25% of the business right now are events,” Abby explains, while they’re also tapping into wholesale and bulk orders. With operation expenses on the rise and the need for constant investment in inventory and equipment, the pair faces the delicate balance of growth and profitability. “We just spent a couple hundred thousand on inventory to stock up for the holidays,” Daniel states, reflecting both the challenges and excitement inherent in managing a dynamic business.

Despite the successes and milestones, both Abby and Daniel acknowledge missteps along the way. “My biggest regret is leaving the embroidery machine in the basement for so long,” Abby concedes. The delay in taking full advantage of their unique offerings brought complexities that could have been avoided had they acted sooner. Yet, these insights into their journey serve as valuable lessons for entrepreneurs navigating their paths.

As Abode continues to redefine both personal expression and customer engagement within the embroidery space, it stands as a testament to the power of individuality in a world filled with sameness. Abby and Daniel’s story not only inspires creativity but serves as a roadmap for navigating entrepreneurship’s many challenges, celebrating the art of personalization, and ultimately thriving amidst the competition.

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