Tate, Long Island, Virginia discussed on How I Built This
I mean after matchup of Hartford. who still kind of standoffish right? Because you've just gotten burned really bad I mean were there like trust issues there. No he was great. I was like he felt. I felt to me like a lifeline but it was safe because I could walk away anytime I want. You know. I wasn't bound by any contract or money or anything. I find not trusting people way too to exhausting and it's not the way I want to live my life so I was very very naive and I used to trust blindly now. I still trust everybody but I trust with my eyes. Open all right but now you have to reestablish your brand right as tate. It's the same cookie but you got to reestablish a brand new brand. I had to actually make a better cookie because I had to compete against Kathleen Bake Shop. So there meantime. Those guys are down Virginia with plans to take your brand that you'd spent twenty years building up and really Expanding that to were you did that cause anxiety for you did you think. Oh my God they're gonNa take my name my brand and they're gonna go all over the country people are GonNa think it's me no it because I don't think about what others are doing and I just had to think about what I had to do. And of course my goal was to take them down through goal was to beat them yes to be better. So did you continue on with your previous strategy of baking in the retail shop and baking for wholesale and mainly kind of gourmet shops in in major cities in the US. Yes and when Michael came on board we went through all the products and the products that had the highest margins is the ones we focused on selling so he just kind of really zeroed in on the cookies. You know starting Tate's was about surviving so you know when you're in a survival double mode those things. Those kind of decisions are hard. They just had to be executed. They just have to be done. So where were you guys. I mean. Did you start to expand their distribution. Yeah first of all I had to get. I had to get all of Long Island in New York City back because my whole story was so public. Some stores welcomed with open armed some stores stuck with the Kathleen's brand a lot of stores carried both right and that's how it shook out and then even when I was some vendors I had for twenty years and and when I opened up Tate's they treated me like I was brand new customer. Others were just so helpful and just said okay. I know you uh-huh uh-huh this forty thousand dollars. You know you pay that off when you can and and we're standby you you know it's amazing you know just the difference people it both just amazing so when you re launched the company is Tate. You had wanted to take a break in your life. You knew that was is not gonNA happen anytime soon because all of a sudden you gotta start up again and so were you back at hamster wheel back to those crazy long hours off only for a short time because when I opened tate's then I had a plan and I had a goal. And what was your plan will. What was the goal I? I had to have an exit strategy. My goal is to sell when I was fifty five. So you knew you reconstituted this thing and you relaunched it. There was a time horizon. Yes and you were thinking maybe some local business would put bite or something like that. No I thought I did think bigger than that and I didn't think as big as I went but you know I was going to sell it fifty five so I could retire her. I mean you're still a pretty small shop at this point right it's still forty or so employess When I first open tate's yeah and in those first few years of tastes like annual revenue? I mean I would say.