We were lucky to catch up with Nadia Yacoub recently and have shared our conversation below.
Alright, Nadia thanks for taking the time to share your stories and insights with us today. Let’s jump right into the heart of things. Outsiders often think businesses or industries have much larger profit margins than they actually do – the reason is that outsiders are often unaware of the biggest challenges to profitability in various industries – what’s the biggest challenge to profitability in your industry?
Pilates equipment is known for its relatively high cost, attributed to the expenses associated with production and the use of premium materials to craft top-quality products.
For large and heavy equipment like Pilates machines, both storage and shipping costs across the United States can be significantly expensive and pose logistical challenges.
For a standard piece of equipment weighing 300 lbs, the combined expenses of storage fees and shipping from one state to another can amount to approximately $1000. This cost is in addition to the production expenses and the utilization of high-quality materials.
We offer the same equipment for less than $2000, with production costs estimated at approximately $1200. Our approach involves cost-saving measures, such as minimizing storage expenses and reducing shipping costs. We achieve this by initiating production only after an order is placed, and we strategically choose the nearest production and distribution center to the customer’s location for the equipment’s fulfillment.
Awesome – so before we get into the rest of our questions, can you briefly introduce PersonalHour to our readers and why you started it.
PersonalHour’s objective is to make Pilates and yoga equipment accessible to people at the lowest possible prices without compromising on quality.
I initiated this business out of a deep passion for yoga and a firm belief in the significance of dedicating at least one hour per week to engage in balancing exercises.
Pilates is undeniably one of the most enjoyable balancing exercises. However, many individuals found it challenging to engage in without access to a proper instructor and a club equipped with the necessary apparatus.
Recognizing that home Pilates equipment in the market tends to be quite costly, we made it our mission to devise affordable yet high-quality designs, making Pilates accessible to a broader audience.
Can you tell us about a time you’ve had to pivot as a person?
My professional background is rooted in technology, with over 22 years of experience in developing and overseeing IT technology products. During my career, I had the privilege of working with notable companies, including Amazon, where I served as a product manager for one of the e-commerce sub-sites they acquired.
The IT and technology industry, particularly product management in large companies, can be quite demanding and stressful. While I had a deep passion for my profession, I also recognized the need to step away from the desk and engage in activities that would help me maintain a sense of balance and keep moving. That’s why yoga became an integral part of my lifestyle, enabling me to achieve the equilibrium I sought.
After a while I thought life is short and following the passion while working is something that may be a good risk to take.
Nevertheless, technology continues to play a crucial role in my business. It encompasses various aspects, from e-commerce technology and supply chain systems to tracking, inventory management, and enhancing the delivery experience. More recently, we’ve ventured into creating smart devices for Pilates. Technology remains an integral part of my life, but I’ve learned to strike a harmonious balance with it.
Can you talk to us about how your funded your business?
I began with self-investment, taking some calculated risks by securing personal loans to fund the initial stages of my venture. A few months down the road, I successfully brought an investor on board.
Contact Info:
- Website: https://personalhour.com/
- Instagram: personalhour
- Facebook: personalhour
- Linkedin: https://www.linkedin.com/company/5012498/admin/feed/posts/