Leroy Hite discusses his entrepreneurial journey and experiences.
Key Takeaways
- Leroy built a luxury firewood company called Cutting Edge Firewood from scratch, growing it to 35 employees before a successful exit
- He emphasized the importance of resilience, creativity, and embracing challenges in entrepreneurship
- Faith played a significant role in Leroy's journey, providing guidance and strength during difficult times
- The business evolved from local deliveries to nationwide shipping, becoming a multi-faceted operation
Topics
Early Business Ventures
- Started a firewood company in college that failed due to inexperience and overambition
- Won a bid for Kroger's southeast firewood supply without proper infrastructure
- Learned valuable lessons about industry inefficiencies and customer experience
Founding Cutting Edge Firewood
- Launched in 2013 after being fired from a corporate job
- Initially operated solo with support from his wife
- Focused on creating a premium firewood experience, not just a commodity
Business Growth and Innovation
- Sold house in 2017 to invest in rebranding, warehouse, and first employees
- Patented a delivery rack system, reducing delivery times from 2 hours to 15 minutes
- Expanded into cooking wood and nationwide shipping
- Revenue quadrupled from 2019 to 2020 during COVID-19 pandemic
Marketing and Brand Awareness
- Utilized yard signs across Metro Atlanta for widespread brand recognition
- Invested in SEO to dominate online firewood searches
- Developed creative solutions for shipping challenges, like sending apology boxes
Business Structure and Exit
- Grew to 35 employees with departments for customer service, logistics, delivery, and warehousing
- Operated as "five businesses in one" - local delivery, same-day box delivery, nationwide shipping, bulk freight, and marketing/PR
- Successfully exited the business in 2024 after 11 years of operation
Post-Exit Activities
- Currently doing limited consulting for B2C companies
- Planning to launch a new outdoor product-focused business
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