1543 They'll Help You Manufacture Your Product for 1/4th the Cost as Other Brokers, $100k in MRR, 20 Customers

SaaS Interviews with CEOs, Startups, Founders

Nathan Latka

Ceo, Entrepreneurs, Founders, Software, Business, Entrepreneurship, Saas, Startups

4.6 • 683 Ratings

🗓️ 15 October 2019

⏱️ 16 minutes

🔗️ Recording | iTunes | RSS

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Summary

Rich’s passion for inventing and tinkering was ignited at an early age, when he attached some wires to a battery and a lightbulb and lit up his childhood bedroom for the first time. It also happened to be around the time he saw the movie Flubber, so it’s safe to say his fate was sealed.

Rich has a patent related to the military space and has experienced how difficult it is to get the products he’d spent years developing and prototyping actually made- this led to the creation of Inventaprint with his twin brother, Roland.

Rich has worked on numerous critical global supply chain initiatives across various multi-billion dollar industrial companies in the Aviation, Oil & Gas, Locomotive, and Renewable Energy sectors. He advises on hardware-related inventions and can be found doodling designs for new product ideas in his (non-existent) free time.

Transcript

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0:00.0	Founded the company back in 2017 InventaPrint.
0:03.1	Again, helping folks like me, right, or anyone that has an idea they want to get manufactured,
0:07.6	helps them save money.
0:08.6	They charge a fee, call it $5,000 per month to 20 of these producers right now.
0:13.1	They then pair them up with one of their 100 manufacturing partners they've worked with
0:16.2	and take about 10% of the total kind of fees that go through that platform. They've scaled about 100 grand per month in revenue fairly quickly on just 120 grand and funding
0:24.5	from tech stars too early to talk about churn and cack and things like that.
0:27.8	But they got a team of four people up in the northeast as they look to scale.
0:31.9	Hello, everyone.
0:32.6	My guest today is Rich McCullough.
0:34.8	His passion for inventing and tinkering was ignited at an early age when he
0:37.8	attached some wires to a battery in a light bulb and lit up his childhood bedroom for the first time.
0:41.9	It also happened to be around the time he saw the movie Flubber, so it's safe to say his fate
0:45.6	was totally sealed. He has a patent related to the military space and was experienced and has experienced
0:50.5	how difficult it is to get the products he'd spent years developing and prototyping actually made. This led to the creation of InventaPrint with his twin brother Roland. That's what
0:59.4	they're working on today. Richard, are you ready to take us to the top? Yes, let's do it.
1:03.4	All right. So what is Inventiprint and what is your revenue model? How do you make money?
1:07.7	Yeah. So Inventive print simply put is we apply intelligence to the hardware
1:12.5	development process. So we basically take hardware companies component specifications where they are
1:18.5	in the product lifecycle and give them a list of vetting manufacturers that can bring those products
1:22.6	to life. Our model is we're a SaaS plus company. So we have an annual license fee that hardware companies pay us.
1:30.5	And the plus side of things is we get paid on in transaction from the manufacturers.
	...

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