Today we’d like to introduce you to Olufemi Agbato.
Olufemi, let’s start with your story. We’d love to hear how you got started and how the journey has been so far.
DAM Coolers started out as an Executive MBA project while I was at Kennesaw State University a few years back. Myself and my project mates put heads together to come up with a viable business plan that could get us good grades and also bag us a potential investment. KSU’s EMBA program’s final business plan project is judged by local Atlanta investors and they do put in seed money from time to time, turning an MBA project into a real business.
We had a great business plan and won an award “The most likely to start a business.” So we did just that. Founded DAM Coolers LLC. It is now run by me alone as the lead project manager and only remaining active co-founder. Backtracking a little. What is DAM Coolers. Its a fun outdoor and lifestyle company that has a cool and innovative approach to outdoor products like coolers, backpacks and more. Our flagship product are the DAM25/35 V.I.P hard coolers. V.I.P stands for Vacuum Insulated Panel. Our coolers us vacuum insulation to improve thermal performance, weight management and ease of design.
From 3d printed prototypes during KSU days to completing several production moulds with our global manufacturing partners, we have officially launched DAM Coolers to the world. We successfully ran a crowdfunding campaign in July of this year, which raised over 300% of its goal and is still funding on Indiegogo.
Our products now include the DAM Hard Coolers, High Utility Soft Coolers and a unique 2-in-1 Backpack Cooler. All products are currently under manufacturing contracts and will be ready to ship to customers soon. We would like to share our story with Atlanta and introduce outdoor enthusiasts, tailgaters and fun lovers to Atlanta’s own Outdoor and Lifestyle company.
Great, so let’s dig a little deeper into the story – has it been an easy path overall and if not, what were the challenges you’ve had to overcome?
It has not been a smooth road. We started officially in December 2015. We had our EMBA presentation and award in March 2016. We got accolades but not the funding we expected to come in. I personally worked on the project on a part-time bases for two years until I found global partners to improve design and development.
In 2019 I attempted crowdfunding on Kickstarter, which failed. I only reached 21% of my goal. The failure was due to many problems; Late prototype development, wrong marketing partners, poor marketing strategy and low marketing budget. All of these issues dragged our summer launch and put us in the late fall. We missed the buying season for our industry by months.
2020 has not been much different. A better marketing team improved marketing strategy and budget, and even better DAM products did not save us from every curveball that 2020 had to throw at us. Months and months of production, hidden expenses, logistical issues and more plagued our build-up to our Spring 2020 launch. It had to be pushed to late Summer. Eventually, we launched and funded despite 2020. It could have been much better, but it could also have been much worse. For that, we are thankful.
Alright – so let’s talk business. Tell us about DAM Coolers – what should we know?
We are a lifestyle and outdoor brand. Not unlike YETI or Pelican or Igloo. We design and manufacture hardware for the outdoors. Coolers, containers and backpacks. We are known for our V.I.P technology. Vacuum Insulation technology that goes into our flagship cooler.
We are proud of our development process. We did not compromise anything and kept working through all of the downturns. We came out stronger after our initial Kickstarter failure with a better product and more products to follow. We are set apart by our beliefs. Light.Tight.Right is our moto. It means; Efficient, Versatile and Practical, and these three powerful words can be found breathing life in our products.
Is there a characteristic or quality that you feel is essential to success?
Persistence in an almost saturated, yet growing industry. Quality of the product is just as important as its uniqueness. Also, continuing to groom our 12k strong social media following will ensure greater success for us.
Pricing:
- Hard Cooler – DAM25 – Starting at $187. Take off up to 30% with discounts
- Soft Coolers – SOFTCOOL – Starting at $180. Take off up to 40% with discounts
- 2-in-1 Backpack – Starting at $199. Take off up to 40% with discounts
Contact Info:
- Address: 1840 Jardin Court, Alpharetta, GA
- Website: www.damcoolers.com
- Phone: 14044688913
- Email: femi.agbato@damcoolers.com
- Instagram: https://www.instagram.com/damcoolers/
- Facebook: https://www.facebook.com/DamCooler
- Twitter: https://twitter.com/DAMCoolers
- Other: https://igg.me/at/DAMCOOLERS
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