💡Hat Brands: Why You Should Create One Today

Good evening, Odd Night Family! They say some of the best treasures are hidden in plain sight, often right over our heads. Tonight, we dive into one such business. Let’s get into it.

Kicking off this month's first business idea, we'll dive into a case study of a killer brand. We'll unpack their triumphs and more importantly, how you can mirror their success in your niche.

Here’s what we got for you today:

💰An inspiring tale of 3 fathers - DadGang
📈The joys of one size fits all
🔥Overheating phones

Today’s Drop 💼

🧢 Start Your Own Hat Empire

🍿 The Big Picture:

Tonight, we're delving into the world of... hats. Those everyday, sun-shading, bad-hair-day-hiding heroes. And if you're thinking, "It's just a hat!" DadGang might have a $2 million story to change your mind. They're our inspiration today, and we're diving into their world.

🛠 The Idea:

A trio of friends, bonding over dad tales, coined the term "DadGang". Inspired, they crafted 100 hats with this phrase, and in just 3 days, they were flying off the shelves! 16 months later, these gents turned it into a $2 million hat venture. 

They used iPhones for pics, Canva for ads, and a barage of UGC - that’s DadGang's winning recipe.

Let's decode this gem, Odd Night style.

👇 (but first let’s talk numbers 🤑)

🍞 Revenue Potential:

Why hats?

One Size, All the Profit: Hats don’t have to deal with the clothing industry's ‘size’ headache. No stressing over size distributions or handling returns due to size mismatches. One size truly does fit all, simplifying inventory and keeping initial cost low. If you're venturing into apparel, hats are a no-brainer start.

Margins: The ON team has been deep diving in the cost of hats so you don’t have to (y’welc), and we managed to find great hat’s manufactured at a $3 cost per hat. With solid branding and quality, you can market it for $20 or more. That's a profit margin other businesses might envy. The numbers speak for themselves.

Easy Entry: Launching a hat business won't break the bank. Low initial investment with high potential ROI.

🚀 How to Get Started:

Niche Research: 
Dive deep. Find a niche, something you're passionate about. DadGang's niche? The universal, sometimes hilarious struggles of dadhood.

Branding:
Understand it, live it, breathe it. It's the backbone of your business. It's not just about a logo; it's about emotions, stories, values.

Design:
Not a designer? No sweat! Platforms like Fiverr and Upwork are brimming with talent waiting to bring your vision to life. Remember, simplicity is key.

Product:
Quality, quality, quality. Dad Gang bet big on embroidery hats, attracting celebs from the NFL and NBA. Request samples, wear them, love them. If it's not on your head every day, rethink it.

Marketing:
Build your community. Start small, be genuine, engage. Use platforms like Instagram to showcase your products, share customer testimonials, and build a tribe. Sending out free products to influencers in your niche for exposure always works a treat.

🔥 Is the Market Hot?

Numbers don't lie. With the headwear market soaring at a value of $28 billion in 2023, and steady global demand over the past five years, hats are here to stay. It's not just a phase, it's a fashion staple!

🎯 Conclusion:

There you have it, the Odd Night guide to turning simple hats into serious bank. With a dash of passion, a sprinkle of creativity, and a dollop of determination, you too can create your hat empire. So, what are you waiting for? The hat's in your court! Seize the day and begin your headwear hustle!

Tweet of the Day

It’s only right to feature Bart, founder of Dad Gang.

Midnight Meme 😂

Odd Notes:

• Thousands of customers are complaining about the new iPhone overheating

• Work with smaller influencers: according to a new study, nano-influencers boast a 12% engagement rate, outperforming top-tier celebrities who average just 1%.

• Jeff Bezos famously banned powerpoint presentations in meetings, here’s a video of him explaining why.

Business concluded for tonight. Our next meeting on that odd evening will reveal more of the family's dealings.

Have a business idea that we could feature? Hit reply and share the 411. If we ride with your plan, you'll see your name in the credits. That a deal?

Disclaimer: This newsletter is educational, not financial advice. Exercise caution and conduct personal research before making investment decisions.