Do you love the outdoors? How about the gentle ambiance of a scented torch burning during a twilight beach event? If you are listening to this podcast, there is a good chance you like business, entrepreneurship, and money. Today’s guest combined her love of outdoor ambiance and TIKI Torches to create a product that enabled her to take that leap off the corporate cliff.
After 25 years, Gina Seneca was able to leave her corporate employment and devote her energy full-time to a product that she truly loves and believes in. She didn’t just take the leap, though. She spent two years slowly building the business while maintaining her already established career. She also did her due diligence and hit the pavement to make sure that her market research was spot on and that there was a demand and desire for her product.
Her product is a twist on the traditional TIKI Torch which has been a backyard staple for the last 50 years. Gina has always loved outdoor entertaining, but she noticed some things that could be improved on the traditional torches. She started writing down her ideas and features until she was sure that she had a great product that would beat the competition. Gina Seneca is here today, to tell us all about her product the KiKi Torch. She explains what sets this product apart and what market it would suit best. She also shares her origin story in business and with the product. She even shares info on investing, startups, mentors, and finding out more.
You can find Gina here:
Call for your strategy session 775-588-9200
- [02:11] Gina spent a good portion of her career in health care. She was in this arena for over 25 years and made six figures.
- [02:36] Gina was ready to leave the corporate world and chase her dream.
- [03:11] Someone had told Gina, if you’re going to take the leap, just jump straight down and do it.
- [03:33] There are layers of funding needed when creating a product. For two years, Gina continued working her job and paid for her new startup along the way.
- [04:02] She took the jump in June of this year and finally left the corporate job to devote her time to her new startup.
- [04:05] Gina has finally perfected her wonderful product the KiKi torch.
- [05:02] Gina needed to take the jump, because she needed the time to work on her business. She was tired of burning her candle on both ends.
- [05:30] You have to do your research and your homework. Create a list of things you need to do and make sure that you know your costs.
- [06:52] Find a mentor to help guide you when you have burning questions that you don’t know the answer to.
- [07:58] Gina had TIKI Torches in her yard for 25 years. She started writing down her product ideas for the perfect TIKI Torch and her list of features grew.
- [10:01] She didn’t want her competitors oil in her torch, so she started making an oil with a light eucalyptus scent. She plans on adding other scents like lavender and citrus.
- [11:11] KiKi Torches are one of a kind personalized torches. You can insert an image or a logo into the clear cylinder. They also offer four heights. It’s also lightweight and well designed. It’s also rust proof. The oil canister is also wide mouthed, no funnel needed.
- [13:19] It also comes with the eucalyptus fuel.
- [13:37] Gina talked to people in order to validate her idea. Her target market uses their outdoor space or hosts events. Brides are a number one segment she is looking at.
- [14:33] It can also be used as signage. She is also targeting high end hotels, RVers, and beach weddings. It’s also a great realtor gift.
- [16:27] Gina’s molds are paid for in full. The average price is $59.99. She’s hoping for next year to be about $350,000 to $400,000 in revenue. She’s looking for her first large run of 10,000 units.
- [18:12] Gina is looking for a strategic partner who knows how to scale a product.
- [18:31] There are three giant players that the KiKi Torch is competing with.
- [20:22] You can reach Gina at (954) 993-9378.