Pressbox and Tide Cleaners: Vijen Patel. The $1.99 Gamble That Built a National Brand

Pressbox and Tide Cleaners: Vijen Patel. The $1.99 Gamble That Built a National Brand

What if the best startup isn’t sexy at all? In 2013, Vijen Patel left private equity to pursue “the least-worst idea”: dry cleaning. No patents. No app wizardry. Just laundry lockers in high-rises, ruthless unit economics, and a $1.99-a-shirt price that was seared into America’s brain.

From bootstrapping routes at 5 a.m. to breaking even in 6 weeks, Vijen and co-founder Drew McKenna scaled Pressbox to hundreds of locations, stared down well-funded competitors, and ultimately sold to Procter & Gamble, where Pressbox became Tide Cleaners (now ~1,200 locations). After the exit, Vijen launched The 81 Collection, a VC fund backing “boring” businesses that quietly power the economy.

This episode is a masterclass in building profit first, creating user behavior (not changing it), and protecting customer retention like your life depends on it.


What you’ll learn:

  • How the “least-worst idea” found product-market fit
  • How sidestepping rent + labor can flip margins from 15% to ~40%
  • The efficiency insight that beat “Uber-for-X” rivals
  • The new-residence edge: creating customer habits with a welcome-kit
  • Why Pressbox had to set crazy-high retention goals (98%!)
  • How to keep competitors close—and turn a Goliath into your buyer
  • The post-exit premise: “boring” businesses are engines of the middle class


Timestamps:

  • Choosing dry cleaning with a private equity lens: don’t do it for passion–focus on practicality — 00:09:30
  • The SMS “app”: low tech, high convenience — 00:14:14
  • Unit economics breakthrough: lockers (26 transactions per hr) versus scheduled pickup (4-6) — 00:18:55
  • The $1.99 insight: a price everyone expected — 00:24:58
  • How getting into Chicago’s top high-rise was a game-changer — 00:31:11
  • Margins that work: if you’re a high-rise “amenity,” you don’t pay rent — 00:33:08
  • Competing with Washio: convenience wins — 00:39:07
  • Vertical integration: building the plant, staffing via Spanish newspapers — 00:41:48
  • P&G looms: head-to-head, then the acquisition dance — 00:51:25
  • Burnout, trade-offs, and life after exit: launching a VC fund that specializes in boring businesses — 01:03:28


This episode was produced by Alex Cheng with music composed by Ramtin Arablouei. It was edited by Neva Grant with research help from Olivia Rockeman. Our engineers were Patrick Murray and Maggie Luthar.


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Avsnitt(771)

Advice Line with Brian Scudamore of 1-800-GOT-JUNK?

Advice Line with Brian Scudamore of 1-800-GOT-JUNK?

1-800-GOT-JUNK? founder and CEO Brian Scudamore joins Guy on the Advice Line where they answer questions from three early-stage founders. First we meet Theresa in Denver, who’s wondering if she should diversify her edible flower products or double down on a core offering. Then Jake in Los Angeles, who’s seeking clarity on his customizable skincare brand’s target customer. And Theo near Sacramento, who wants to nail a second attempt at drastically scaling up his live poultry sales company.Thank you to the founders of Flouwer Co., Notion Skincare, and Fox & Hen Fine Poultry Co. for being a part of our show. If you’d like to be featured on a future Advice Line episode, leave us a one-minute message that tells us about your business and a specific question you’d like answered. Send a voice memo to hibt@id.wondery.com or call 1-800-433-1298.And be sure to listen to 1-800-GOT-JUNK?’s founding story as told by Brian on the show in 2017. This episode was produced by Carla Esteves with music by Ramtin Arablouei. It was edited by John Isabella. Our audio engineer was Neal Rauch.You can follow HIBT on X & Instagram and sign up for Guy’s free newsletter at guyraz.com.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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BARK: Matt Meeker

BARK: Matt Meeker

When Matt Meeker started sharing a Brooklyn apartment with a Great Dane, he didn’t know it would inspire him to launch a multi-million dollar company. But, disappointed by what pet stores offered for big dogs like his, Matt co-founded BARK, a subscription service for dogs of all sizes. After launching in 2012, the brand expanded to include food, furnishings, and luxury charter flights, where dogs roam free about the cabin. Along the way, Matt applied critical lessons from his past startups, including a failed text-messaging company, and the social platform Meetup.This episode was produced by Devan Schwartz with music composed by Ramtin Arablouei. This episode was edited by Neva Grant, with research by Olivia Rockeman. Our audio engineers were Patrick Murray and Maggie Luthar. You can follow HIBT on Twitter & Instagram and sign up for Guy's free newsletter at guyraz.com.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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Advice Line with Angie Hicks of Angi

Advice Line with Angie Hicks of Angi

Angie Hicks, founder of Angi (formerly Angie’s List), joins Guy on the Advice Line where they answer questions from three early-stage founders. First we meet Paige, a dirt bike rider in Southern California looking to expand her women’s motocross clothing brand into retail stores. Then Dianne from Massachusetts, who’s wondering how and when to bring on new leadership to help her grow her e-commerce homegoods business. And Keisha from Kansas City, who’s hoping to reach new customers for her online Spanish language learning program.Thank you to the founders of McRey Motocross Co., Weston Table, and Bridge the Gap Spanish for being a part of our show.If you’d like to be featured on a future Advice Line episode, leave us a one-minute message that tells us about your business and a specific question you’d like answered. Send a voice memo to hibt@id.wondery.com or call 1-800-433-1298.And be sure to listen to Angi’s founding story as told by Angie on the show in 2016.This episode was produced by Chris Maccini with music by Ramtin Arablouei. It was edited by John Isabella. Our audio engineer was Cena Loffredo.You can follow HIBT on X & Instagram and sign up for Guy's free newsletter at guyraz.com.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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Black Diamond Equipment: Peter Metcalf

Black Diamond Equipment: Peter Metcalf

In 1989, after years of scaling some of the most challenging peaks in the world, Peter Metcalf took on a daunting new risk: resuscitating a bankrupt climbing-equipment company, and putting himself into deep debt to do so. From the defunct assets of Chouinard Equipment, Peter launched Black Diamond Equipment, and capitalized on the growing popularity of sport climbing to grow it into one of the most recognizable outdoor brands in the world. By the way, Yvon Chouinard, the founder of Chouinard Equipment, went on to build his next company, Patagonia, into an iconic outdoor apparel brand. It’s a great HIBT story, and you can listen to it HERE.This episode was produced by Josh Lash, with music by Ramtin ArabloueiEdited by Neva Grant, with research help from Alex Cheng.You can follow HIBT on Twitter & Instagram, and email us at hibt@id.wondery.com.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

28 Okt 202454min

What It Really Takes To Build a Food Business: Part 2

What It Really Takes To Build a Food Business: Part 2

This is part two of our special series on building food businesses presented by Klaviyo. If you haven't heard part one from last week, go back and check it out.In that episode, three founders of three different food brands – Becca Millstein from Fishwife, Brian Rudolph from Banza, and Caue Suplicy from Barnana – shared how they got their start.Today, you’ll find out how these founders have grown their brands into category-defining businesses. You’ll hear about some challenging moments – and also strategic advice if you’re building your own business.This episode was produced by Alex Cheng with music by Ramtin Arablouei. It was edited by John Isabella. Our audio engineer was James Willetts.Our thanks to Klaviyo for sponsoring today’s episode.You can follow HIBT on X & Instagram and sign up for Guy's free newsletter at guyraz.com.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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Advice Line with Michael Preysman of Everlane

Advice Line with Michael Preysman of Everlane

Everlane co-founder and former CEO Michael Preysman joins Guy on the Advice Line where they answer questions from three early-stage founders. First we meet Todd in the Bay Area, who’s looking to spread the word about his pickleball apparel brand with a younger demographic. Then Anna in Sydney, who wonders if she should expand her eco-friendly kids clothing line to include adults. Then Pall in British Columbia, who wants to change how people think about reusable plastic containers.Thank you to the founders of KTCHN, Earthlings United and Mr. Lid for being part of our show. If you’d like to be featured on a future Advice Line episode, leave us a one-minute message that tells us about your business and a specific question you’d like answered. Send a voice memo to hibt@id.wondery.com or call 1-800-433-1298.And be sure to listen to Everlane’s founding story as told by Michael on the show in 2023. This episode was produced by Kerry Thompson with music by Ramtin Arablouei. It was edited by John Isabella. Our audio engineers were Robert Rodriquez and Gilly Moon. You can follow HIBT on X & Instagram and sign up for Guy’s free newsletter at guyraz.com.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

24 Okt 202449min

21 Seeds: Kat Hantas

21 Seeds: Kat Hantas

Kat Hantas turned her home hobby of infusing Tequila into a $160 million business. Her story began when her nightly glass of wine started to give her headaches, and her doctor recommended she replace it with a distilled spirit, like Blanco Tequila. To soften its harsh taste, Kat infused it with fruit and herbs, and began sharing it with appreciative fellow-moms. She eventually realized that hyper-targeting to moms was the perfect way to break into the male-dominated Tequila business. In 2018, she recruited her sister and a friend to launch 21 Seeds, and despite multiple challenges, their mom-strategy paid off. Just three years after launch, 21 Seeds sold for $160 million to Diageo, one of the largest alcoholic beverage companies in the world. This episode was produced by Carla Esteves with music composed by Ramtin Arablouei. This episode was edited by Neva Grant, with research by Olivia Rockeman. Our audio engineers were Robert Rodriguez and Gilly Moon.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

21 Okt 20241h 6min

What It Really Takes To Build a Food Business: Part 1

What It Really Takes To Build a Food Business: Part 1

Innovation is a constant in the food industry. But it’s incredibly difficult to go from a tasty idea to an actual spot on the grocery store shelves. So if you have an idea for a food business, how do you turn it into reality?In this special two-episode series brought to you by Klaviyo, three founders share what it took to get their products on those shelves – and what it still takes today to keep their brands growing. This episode covers the journey from ideation to production and actual sales. Guy is joined by Becca Millstein from Fishwife, Brian Rudolph from Banza, and Caue Suplicy from Barnana.This episode was produced by Alex Cheng with music by Ramtin Arablouei. It was edited by John Isabella. Our audio engineer was James Willetts.Our thanks to Klaviyo for sponsoring today’s episode. You can follow HIBT on X & Instagram and sign up for Guy's free newsletter at guyraz.com.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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