Springfree Trampoline: Keith Alexander & Steve Holmes (2019)
Aug 30, 2021
55:54
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Quick takeaways
The founders of Springfree Trampoline prioritized safety and innovation, leading to their success in the trampoline industry.
Springfree faced challenges such as the exit of a major retailer, but adapted by investing in their own retail stores and direct-to-consumer sales.
Springfree's commitment to customer satisfaction and word-of-mouth marketing has contributed to their steady growth and reputation as a leader in the trampoline market.
Deep dives
Invention of a Safer Trampoline
Engineer Keith Alexander and businessman Steve Holmes collaborate to create a safer trampoline. They design a trampoline with an inflatable ring instead of a steel frame and use flexible, angled rods for support. They create prototypes, secure patents, and attend trade shows to showcase their invention. They face challenges, including the exit of a major retailer, but continue to invest in their product and expand their distribution network. They open their own retail stores, and their direct-to-consumer model gains traction. The company, Springfree, focuses on safety and quality, with a ten-year warranty. By persevering and adapting their business strategies, they see significant growth and become a leader in the trampoline industry.
Cosco Partnership and Challenges
After securing a partnership with Cosco in Canada, Springfree faces a setback when Cosco decides to stop selling trampolines. Springfree opens its own retail store in Seattle and focuses on direct-to-consumer sales. They invest in manufacturing in China and open flagship stores to showcase their product. They manage to increase their sales and expand their market globally. Despite challenges, such as the global financial crisis, they continue to innovate and maintain a strong commitment to safety and quality.
Expansion and Success
Springfree opens manufacturing facilities in China, increases its retail presence, and takes advantage of its strong reputation for safety and innovation. They continue to invest in research, development, and marketing. They further expand their distribution network and gain recognition as a leader in the industry. Springfree's commitment to high-quality products and customer satisfaction has helped them to become a well-established and successful trampoline brand.
Leveraging Customer Loyalty
Springfree prioritizes customer satisfaction and encourages word-of-mouth marketing. Their customers, impressed by the safety and quality of the trampolines, become advocates for the brand. Springfree establishes stores and showrooms to allow customers to experience the product firsthand. They emphasize direct interactions with customers and leverage their loyal customer base for further growth.
Continued Growth and Reflection
Springfree maintains a steady pace of growth, with an annual volume of approximately 30,000 trampolines sold. They continue to focus on a direct-to-consumer model, emphasizing safety, quality, and their unique design features. The company remains committed to providing a reliable, maintenance-free product and offers a ten-year warranty. With their ongoing efforts to expand and innovate, Springfree has positioned itself as a major player in the trampoline market.
In the late 1980s, a New Zealand engineer named Keith Alexander wanted to buy a trampoline for his kids. After his wife said they were too dangerous, Keith set out to design his own—a safer trampoline, without metal springs. He tinkered with and perfected the design over the course of a decade. But he was daunted by the challenge of bringing his invention to market; and he almost gave up. At that point Steve Holmes, a Canadian businessman, bought the patent to Keith's trampoline, and took a big risk to commercialize it. Since the start of the pandemic, sales of Springfree Trampolines doubled, and since their launch, the company has sold nearly 500,000 trampolines worldwide.
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