99. How to Sell Premium Products ($4,990/Piece)

The UpFlip Podcast

Getting into a motorcycle accident in Thailand launched Ryan Duey on a journey of self-discovery that culminated in him starting a float tank business. Find out how he started his business and his advice on how to sell an expensive product in this podcast episode.

Ryan was a float tank user before he started a business in the niche. He found the immersion experience so transformative that he was driven to bring it to people in Sacramento. While opening his flotation therapy spa, Capitol Floats, he met Michael Garrett, who owned his own float spa in the Bay Area. The two became fast friends, but it wasn’t until the pandemic shut down their float spas in 2020 that they decided to become business partners with Plunge cold water therapy tanks.

Making high-ticket sales can be a challenge, especially when you’re catering to a niche clientele. In this interview, Ryan explains how to sell a premium product to both individual consumers and other businesses. He’ll also share how Plunge’s appearance on Shark Tank helped them grow their business and the biggest challenges he and Michael had to overcome when they took the plunge and started their company.

Resources:

• Plunge.com - Learn more about Plunge at their website
• UpFlip HUB - Tips and advice to start or grow a business
• How SharkTank Helped Bunch Bikes Grow to $2.7M Revenue in 2021 - Episode 19 of the UpFlip podcast
• How I Built This - Podcast hosted by Guy Raz who interviews famous entrepreneurs
• My First Million Podcast - Podcast that takes a deep dive into business opportunities
• Acquired Podcast - Learn the playbooks that built companies in this podcast

Connect with UpFlip:

• On Facebook
• On Instagram
• On Youtube
• @UpFlipOfficial on Twitter

For more insights to start, build, or grow a business, check out the resources on UpFlip.com or head to the UpFlip YouTube channel to see more interviews with business owners and experts.

Thanks for listening!

Capitole

1. 99. How to Sell Premium Products ($4,990/Piece) (00:00:00)

2. The making of Plunge (00:01:04)

3. Co-CEOs - How it's working (00:04:00)

4. Near-death experience to entrepreneurship (00:07:13)

5. Plunge product development (00:10:52)

6. Why it's necessary to expand products and services (00:15:45)

7. Fan Blitz Questions (00:19:40)

8. Pricing and affordability of cold plunges (00:23:07)

9. SharkTank experience (00:25:17)

10. How to scale a product business (00:28:29)

11. Overcoming growth challenges (00:32:02)

12. Podcasts recommendations (00:37:06)