Impressive post Ron.
I admire you guys, as it's a very delicate balance for a small business to provide a good product at a reasonable price, the level of customer service many have come to expect (even when the owner is on vacation), and appropriate support through the lifecycle of the products, all balanced with ***staying in business***. It takes a lot of guts, smarts, faith, luck and hours to make it in these businesses. (I'll admit I'm a wimp, having left a very small company in a small speciality industry segment because I had a wife, 2 small kids and was tired of the bouncing paycheck dreams.)
Those who successfully navigate these challenges face more difficult problems as they and the industry segment grows. Two of the more obvious challenges include:
"Waking up the giants"(if Coleman goes ultralight tomorrow, how are you going to compete with their volume, distribution, marketing, support system and pricing. As a small company, you probably didn't have the money to establish Intelectual Property rights, so you have no claim against their 100% copy of your designs and research.
"Snuggling up to an alligator" (if you decide to go the teaming approach, and REI starts selling your gear tomorrow becoming 70% of your business, how are you going to keep them happy, and avoid the "Rubbermaid / Walmart problem", where one ended up in bankruptcy.)
If you look at the basic tenents of Ultralight, they're solid, and this segment should expect good growth into the future. I sincerely hope the current "cottage industries" *DO* find the time to form an industry trade association. These have a history of helping the little guy, while giving customers a level of confidence in whom they're dealing with, and set expected standards and practices.
Further, trade associations have a tendency to highlight and advertise the benefits of their entire segment, giving credability to the business area and a boost to their members. These segments are often good investment areas.
Great input Ron,
thanks,
MikeB
P.S. Ryan J, is this something you'd be interested in helping to kick off? ;)