The Fort #125: Michael Barlow - Founder & CEO of Fernish
Michael Barlow is the Founder and CEO of Fernish, a furniture rental service that will deliver, assemble and arrange your home or apartment.
On this episode, Michael discusses his journey to founding Fernish, the details of how the service works, his experience hiring, and working with former Amazon standouts. They also discuss the importance of customer obsession, COVID, raising VC money, and much more. Enjoy!
Follow Chris on Twitter: www.Twitter.com/FortWorthChris
Learn more about Chris Powers and Fort Capital: www.FortCapitalLP.com
Follow Chris on LinkedIn: www.linkedin.com/in/chrispowersjr/
Follow Michael on Twitter: www.Twitter.com/mleebarlow
(02:00) - Michaels Background and The Idea for Fernish
(06:12) - What happened from having the idea to putting it into action?
(10:43) - Who are your customers?
(12:45) - How does the contract work with customers?
(15:19) - What’s your relationship like with the multi-family owners and what’s the incentive for them?
(17:34) - How do you conduct the design consultation?
(18:11) - How much is the average person saving on renting furniture vs. buying their own?
(20:19) - Are most people needing fully furnished places or just certain pieces?
(21:47) - How are they choosing pieces?
(22:32) - What did COVID teach you about your business model?
(24:05) - How much furniture do Americans buy each year?
(25:51) - The Recycling Aspect of the Business and Determining What’s Reusable
(28:24) - What are the most common items people rent?
(29:31) - How do you think about growth & entering new markets?
(31:32) - How have Amazon-ians impacted your business?
(35:44) - What does "customer obsession" mean?
(38:36) - What are some interesting data points you’ve learned from the customer?
(41:03) - How do you handle things that you don’t wanna hear?
(42:49) - Is there anything interesting you’ve learned from Jeff Wilke?
(45:26) - Raising Capital
(46:28) - What do your best VCs do for you?
(48:46) - How does the communication dynamic work with VCs?
(49:29) - What do you hope to achieve over the next few years?
(52:27) - What do local logistics mean for the company?
(55:34) - How do you think about the capital intensiveness of buying all this furniture for people?
(57:26) - Do you have a childhood experience that shaped the trajectory of your life?
(59:52) - Do you have a morning routine?
(1:00:45) - Is there a book that’s had a big impact on you?
Against the Gods - Peter Bernstein
(1:02:56) - How can people reach you?
Email: michael@fernish.com
The FORT with Chris Powers is produced by Johnny Peterson & Straight Up Podcasts