Jeff Frank
High Point, NC (USA)
Role(s):
Founder/Owner/Principal
Simplicity Sofas
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Startup
Location:
High Point
Industry:
Manufacturing
Year Founded:
2007
Number Employees:
10-50 people
Business Stage:
Growth (not profitable)
Entity Type:
"C" Corporation
Description:
Simplicity Sofas is a North Carolina manufacturer and e-commerce retailer specializing in Furniture for Small Spaces & Tight Places.
The company opened its first factory in 2007, just as the Recession officially began. During the company's first 4 years sales increased from $0 to $500,000 during a period when 40% of American furniture manufacturers closed their doors.
The company currently has sales of nearly $1 million annually. Due to minimal financial resources and restrictions from the day the company opened, Simplicity Sofas has never been able to take full advantage of its competitive advantages in major market niches with little or no competition and extremely high barriers to entry.
Simplicity Sofas is the world's only company manufacturing and selling a complete line of self-assembly seating that sells for more than $1000. More than half of company sales are above $2000. 40% of sales are above $3000.
Company management has worked together for over 5 years. Jeff Frank, the owner is a 30 year veteran of the furniture industry, including 4 years in retail sales management and 6 years as a buyer for a major retail furniture chain.
Jeff and co-inventor Glenn Laughlin share 7 U.S. patents for self-assembly upholstered furniture designs and technology. 6 have been commercially successful generating total sales of over $35 million so far.