Hey, thanks for tuning in to another Partner Interview at EcomBalance. At EcomBalance, we’re all about creating win-win partnerships where we are able to grow with other companies in the eCommerce space.
In this exclusive interview, we interview John Heberling from Kickfurther. John Heberling is the Partnerships Manager at Kickfurther, which helps consumer product good companies scale fast and efficiently. Before joining Kickfurther, he was in the banking industry. John also runs a small ecommerce company outside of his full time gig and is a native of Buffalo, NY, so you know…a HUGE Bills fan!
We hope that you enjoy the interview and that it brings value to you as an eCommerce business owner.
Connor: Hey John, thanks for taking the time to chat with us today. As a company, one of our goals is to highlight our partners so that our clients can benefit where it makes most sense. To get started, can you give us a high-level introduction to Kickfurther and a little bit about how the company got started?
John: Hey Connor, thanks for having me. Kickfurther is the world’s first inventory funding marketplace. Where consumer product goods companies use us to fund their inventory to help them scale. Our CEO & Co-Founder Sean De Clercq founded Kickfurther after he managed a merchandising company and ran into the very cash flow issue that we help solve, where there was no option that provided him sufficient capital at reasonable costs to grow.
Connor: Thanks for sharing that! Can you dive a bit more into the products and services that you offer to help with inventory funding? Our audience is always looking for reputable companies that they can lean on for specific parts of their eCommerce businesses.
John: Our funding timeline is customized around each business’s timeline; they get the funding to have their inventory produced and then they make no payments on that inventory until after it is sold, and they receive customer payments. We are a buy now, pay later for CPG business’ inventory. Plus, our funding is non equity dilutive and not a debt, so owners keep control of their companies and don’t fill up their balance sheet with debt. Lastly, as businesses continue to work with us, their funding limits increase and cost decrease, so we scale alongside them.
Connor: Jumping off of that…when you’re thinking about your ideal customer, who is that? Where are they selling online? Where are they located in the world? How much sales do they typically have in a year? If there’s any other qualities, please include them as well. We’re all about making introductions where it benefits both parties.
John: Anyone in the CPG space and we start working with brands who have at least $150k in revenue in their last 12 months, but we find most of our clients fall between $1M-$20MM. Though really there is no cap on how big a business is to work with us and they can be selling ecommerce, wholesale, omnichannel, etc. The business either has to be US based or if they are based internationally, they would need to be registered in the US with a US bank account. If they’re growing quickly, adding new skus or sales channels, need to free up capital for other areas of their business, etc. that’s where we find we can really help brands.
Connor: For our audience to truly understand what makes you stand out from other companies in the funding space, can you share a story of how Kickfurther truly helped one of its customers?
John: Our client BEAST Brands came to us when they were around $200k in yearly sales and in need of a funding solution that scaled with them. Since starting to work together, we’ve helped fund over $1.9M in inventory and now they are well over $2MM in yearly sales (10X!). They’ve been able to add new SKUs, grow their ecommerce, Amazon and wholesale channels and take advantage of other growth opportunities.
Connor: As you and your company think about the next year ahead, what does it look like? Are there any specific initiatives that you’re working on as a team to better your product or service for your customers?
John: We’re always looking at how to improve our customer experience. For example, we’re looking to streamline our application process by adding automation. We’re also looking to onboard more team members across all departments so our capacity matches the increase in new businesses we can fund.
Connor: How about this…everyone loves a company’s growth story. We all naturally go through ups and downs as a company. What was one of the biggest challenges that the company faced in its growing stages?
John: Last year from the feedback we received from clients and prospects, we pivoted our pricing from a 5% fee to a flat subscription model. This allows clients to consistently lower their costs the more they fund and can scale efficiently.
Connor: Thanks! Let’s talk some eCommerce! Where do you see the industry heading in the next 1-2 years? Any big changes that you’re predicting for the industry? How can eCommerce companies prepare for it?
John: The continued push to collect and optimize on first party customer data, as costs, cookie restrictions and accuracy of using third party data make it more difficult to rely on and grow brands. Doing this will drive brands to put emphasis on a more personalized customer experience since they will better understand them. Which will allow them to build stronger relationships with their customers that will lead to increased repeat purchase rates and higher CLTV.
Connor: Changing gears a little bit…When it comes to bookkeeping and accounting, what do you think the biggest pain points for eCommerce business owners are? Feel free to speak from personal experience as well.
John: Definitely knowing when to outsource it so they free up time and have cleaner books. Managing it themselves can only last so long before it becomes too much to handle. Plus having the right accounting/bookkeeping partner makes sure they have accurate records and a clearer understanding of where their company was, is and going.
Connor: Okay, here’s an open mic opportunity. If there’s one thing that you’d want the EcomBalance community to hear from you, what would it be?
John: One really cool thing about our funding is that it works alongside brands’ other funding partners, as we do not have blanket liens like other funding sources. We understand that brands sometimes need multiple types of funding to fuel their growth and we want them to have the ability to tap into these other funding sources to grow efficiently.
Connor: As we close this out, I just have one more question. Where is the best place to find and follow you and the company online? Also, if you have one, is there any special offer that you’ll be offering to the community today?
John: Thanks, anyone can come right to Kickfurther.com to learn more, plus find us on LinkedIn, Twitter, Facebook, Instagram and Youtube. Yes, we’d love to offer a $50 Amazon gift card to any CPG business in your audience that takes a demo call with our team and mentions EcomBalance.
