3 ms·
You can build a business on a single product, but you can't sustain one. Consider Magpul[0]. They built their company selling a what basically amounts to a thi
by LyndsySimon 8y ago
You can build a business on a single product, but you can't sustain one.
Consider Magpul[0]. They built their company selling a what basically amounts to a thick rubber band with an extra loop on one side[1].
Over the course of the following seven years, they landed defense contracts and made enough profit on that little doodad to design and manufacture the PMAG[2], which is their best-known product now - and I strongly suspect, their primary profit driver. They've sold absurd numbers of PMAGs over the years.
After that, they were a well-known name in their target demographic, and were able to parlay that into a line of "furniture" for ARs - stocks, hand guards, grips, etc. These days they sell everything from rifle magazines and accessories to wallets and iPhone cases. They come to mind immediately for me because I saw yesterday that they'd launched a line of safety glasses[3]... that start at ~$150.
Magpul's product line is the very definition of "durable goods", but they've managed to build a thriving business around them. The keys to that as best I can tell are: never stop building your brand, and never stop researching and releasing new products.
0: https://en.wikipedia.org/wiki/Magpul_Industries https://en.wikipedia.org/wiki/Magpul_Industries
1: https://gunxtras.com/image/cache/data/MAGPUL-Original-Magpul-556-NATO-3-Pack-Black-MAG001-BLK%20(3)-500x500.jpg https://gunxtras.com/image/cache/data/MAGPUL-Original-Magpul...
2: https://www.magpul.com/products/pmag-30-ar-m4-gen-m3 https://www.magpul.com/products/pmag-30-ar-m4-gen-m3