DIYers and professionals alike know how frustrating it can be to hunt for nails and screws while working on a project.
That’s what led Andre Woolery to create MagnoGrip, a line of magnetic tool-storage gear that keeps screws and nails within an arm’s reach. The Jamaica native’s idea came to him during his first year of business school at Stanford. Why not substitute pockets with magnets to eliminate that worry on the jobsite?
It started out small, with just one MagnoGrip product in a few hardware stores in the San Francisco Bay Area, but it wasn’t long before Alex had grown the business to include multiple products distributed nationwide.
We sat down with Andre to learn more about MagnoGrip’s beginnings and how a partnership with The Home Depot helped him grow at scale.
What did your first order from The Home Depot look like?
The Home Depot was the first big box retailer to stock our products. We started in 2009 on HomeDepot.com with a few items like tool belts, pouches, and our magnetic wristbands. After a successful run online, we got the opportunity to test the program in 130 stores across four markets – from Northern California to New Jersey.
Tell us about your partnership with Home Depot.
At all times, The Home Depot has been supportive. They’ve always been fair, but firm; they pushed us and I think we were better off overall because of that. The merchants challenged us on our pricing and product quality – I think we’re a better company because of it.
Any advice for new small and diverse suppliers that are just starting out?
- Understand that it’s a process; sometimes hearing “no” from a merchant simply means that there is more work to be done. Also, consider that speed bumps are really there to help you get over hurdles later in your journey.
- Welcome feedback, even if it is critical. Initially, our retail price was a bit high, while our product quality needed work. Hearing direct feedback from the merchants helped us to improve in both regards.
- Be prepared!
Click here to learn more about MagnoGrip’s line of products.
Learn more about Supplier Diversity at The Home Depot here.
