🔑 Key Takeaways
- Unique businesses like Retrospect breathe new life into obsolete technology, preserving history and nostalgia while offering a distinct shopping experience. Founded by two college students, Retrospect grew from a passion project to a successful 40-person company.
- Started as college students, built a network to source vintage Polaroid cameras, grew from selling raw cameras to taking over refurbishing and repair for Impossible Project, now a significant hardware supplier
- Identify trends and expand offerings beyond initial focus to tap into demand. Expertise and dedication key to success in sourcing and preserving retro tech.
- A retro tech shop refurbishes old electronics, preserving them from landfills and providing functional devices with interchangeable parts and modular designs, ensuring peace of mind for consumers.
- Careful handling, innovative solutions, and continuous learning enable the preservation of vintage technology despite challenges like rust, mold, plastic aging, and yellowing.
- Prime Minister Trudeau discusses addressing populism and young voters through significant spending, and Franchhares highlights the economic impact of franchised businesses
- Retro Tech creates innovative products from vintage tech, such as a new 1 head cassette player, showcasing their expertise and keeping classic tech alive
- Creating precise cassette players involves extensive inspections, adjustments, and repairs. Consistent manufacturing and strong communication with suppliers are crucial to improving quality and affordability.
- Retro Tech prioritizes slow growth, long-term vision, and organic opportunities over quick funding. Their commitment to retro technology and unique collaborations have led to a thriving business.
- Repairing vintage electronics can be rewarding but comes with challenges like sourcing specific parts, extensive repairs, and significant investment in time and resources before seeing returns.
- The retro tech industry is larger than perceived, with operations restoring and repairing a wide range of devices, but the shift towards digital technology and proprietary components makes repair more challenging.
- Dedication to a unique niche and team's ability to adapt to challenges are key to success in vintage electronics business
- Retrospect's team of 45 includes repair and refurbishment technicians, customer service, and fulfillment staff. Hiring for passion and providing training is key. Refurb techs focus on cosmetics, repair techs on mechanics. Balancing productivity and quality, encouraging gender diversity. Detail-oriented tasks ensure customer satisfaction.
- Retaining skilled technicians is essential for companies in the electronic repair industry to ensure consistent and efficient services. The Midwest's access to skilled labor and manufacturing resources makes it an attractive region for these businesses. Cross-training and job variety can enhance technician satisfaction and reduce workforce redundancy.
- Founders of Retrospect Photo discovered unique advantages of Milwaukee location, faced challenges, but prioritize using local and US suppliers.
- Retro Tech refurbishes and sells obsolete tech, preserving value and experiences for all ages. Invites visitors to their Milwaukee facility for a tour.
- Direct sales from Retrospect's website offer a better shopping experience and support the brand directly.
📝 Podcast Summary
Reviving Obsolete Technology: A Thriving Business
There are unique and thriving businesses, like Retrospect, that specialize in reviving and selling retro tech, such as VHS tapes, VCRs, film cameras, and even digital watches. These companies provide a platform for collectors and enthusiasts to access hard-to-find items and keep obsolete technology alive. This not only preserves the history and nostalgia of these items but also offers a unique shopping experience. Retrospect, in particular, started as a passion project for two college students, Corey and Adam, who became major suppliers for The Impossible Project and grew their business to a 40-person company. Their story is a testament to the enduring appeal and value of retro tech.
From thrift stores to a successful Polaroid business
The journey of a retro tech business, as told by the founders of this particular venture, began with a deep connection to Polaroid film and a passion for preserving its use. Starting as college students who couldn't afford the skyrocketing prices of film on eBay, they turned to thrift stores and eventually built a network of sourcing vintage Polaroid cameras. Their business grew from selling raw cameras to the Impossible Project to eventually taking over the refurbishing and repair of these cameras for them. This passion and dedication, recognized by the Impossible Project, led to their growth from a hobby to a successful business, supplying a significant portion of their hardware.
From passion project to successful business
Starting a business from a passion project can be a calculated risk, even when faced with financial constraints. The interviewee shares their experience of transitioning from collecting Polaroid products as a hobby to founding Retrospect, an LLC specializing in retro tech. This shift occurred when they saw an opportunity to expand their offerings beyond Polaroid cameras and tap into the demand for refurbishing and selling other vintage electronics, such as Sony Walkmans. The interviewee emphasizes the importance of being ahead of trends and sourcing items that have been mass-produced to support their repair and refurbishment process. The journey began with ease as they leveraged resources like Craigslist and Minnesota's thrift stores to acquire cameras during a time when Polaroid film was discontinued. Now, with the rise of digital technology, Retrospect has expanded its offerings to include early 2000 digital cameras. The process of sourcing these items is more challenging, but the team's expertise and dedication to preserving retro tech continues to drive their success.
Reviving Unwanted Electronics
The retro tech shop, run by a couple with backgrounds in speech language pathology and occupational therapy, sources and refurbishes old electronics with a passion for preserving and giving new life to items that might otherwise end up in landfills. They focus on models with interchangeable parts and modular designs, allowing them to piece together functional devices from various units. This process involves assessing the condition of the items, making judicious decisions about what parts to replace, and providing a warranty for peace of mind. The couple's motivation stems from their experiences graduating during a tough economic climate and wanting to delay entering the workforce while also pursuing their interests. They found that their skills were in demand and chose graduate programs that didn't require extensive prerequisites. The refurbishment process varies based on the product, but their formal documentation, checks, and quality assurance measures ensure a high standard. Ultimately, their goal is to breathe new life into unwanted electronics, creating value for both the business and the end consumer.
Preserving vintage tech: handling challenges and finding solutions
Preserving vintage technology requires careful handling and innovative solutions. Rust and mold are common challenges, but not always deal-breakers. For instance, our team can clean moldy lenses. Plastic aging and yellowing, on the other hand, are issues that can't be fixed. In response, we built a professional paint booth to refinish certain items, like Polaroid cameras, to keep them functional. When faced with unfamiliar tasks, such as painting the inside of a cavity, we often try to problem-solve in-house before seeking external help. Higher education equips us with critical thinking skills that are essential for tackling these challenges. We also learn from online resources and each other. Interestingly, the retro tech community is filled with passionate individuals. While some collectors may be dismissive, those actively repairing and restoring technology display a remarkable level of kindness and support.
Interview with Justin Trudeau and Discussion on Franchhares
The Prop G pod, hosted by Professor Scott Galloway, offers listeners valuable insights from blue-chip thinkers and journalists, as well as a markets-driven episode every Monday, Q&A sessions every Wednesday, and a newsletter reading every Saturday. Prime Minister Justin Trudeau of Canada is also a guest on the show to discuss his plans to address struggles with populism and young voters through significant new spending. Additionally, the Franchhares investment marketplace was introduced, revealing the vast size and importance of franchised businesses in the economy. A nostalgic conversation about retro tech brought up HitClips, a precursor to digital music players where each cartridge held a part of a song and served as a fashion statement.
Innovating with vintage tech: Retro Tech's new cassette player
Corey and Adam from Retro Tech are not only experts in refurbishing and repairing vintage tech, but they also create their own innovative products, such as a portable cassette player. This is particularly impressive for a device as complex as a cassette player, where issues like light leak and degrading plastic can be challenges. A key difference between a 2 head and 3 head cassette tape player is that a 3 head player has dedicated heads for recording and playback, allowing for better sound quality and the ability to monitor sound in real-time. Retro Tech's new CP 80 1 cassette player is a testament to their ability to innovate in the field of vintage tech, as the last major manufacturer of cassette mechanisms went out of business over a decade ago. Despite this challenge, Retro Tech has continued to refine their skills and develop new products, keeping the legacy of classic tech alive.
Making high-quality cassette players: Challenges and dedication
Producing high-quality cassette players involves a complex and iterative process. The speakers discussed their challenges in obtaining the desired level of precision from factories, requiring extensive inspections, adjustments, and repairs. They emphasized the importance of consistent manufacturing and strong communication with suppliers before expanding production. Despite the demand for cassette players, achieving both high quality and affordability is a significant challenge. The CP81 is the initial iteration, with the CP82 under development, and the team is committed to improving both the technology and design. They expressed their passion for the nostalgic experience of cassette tapes and the unique listening experience they provide, despite the limitations of the format. The team's dedication to delivering a high-quality product is evident in their meticulous approach to manufacturing.
Growing Retro Tech without VC
Corey and Joe, the owners of Retro Tech, have chosen to grow their business without external investors or venture capital, prioritizing a slower pace of iteration and long-term vision over quick funding. They believe in the enduring appeal of retro technology and the growing interest in it among a new generation. Their opportunities often come organically, and they collaborate with individuals and companies approaching them for retro tech products. While they face rejection and the need to cast a wide net, they prefer being rejected to rejecting others. Their products have even appeared in TV shows through prop requests. Overall, Retro Tech's commitment to their vision and the enduring appeal of retro technology have led them to unique collaborations and a thriving business.
Challenges in repairing vintage electronics
While the business of repairing and restoring vintage electronics can be rewarding, it also comes with its own unique challenges. For instance, while mechanical items like cameras with fewer mechanical parts, such as digicams, may require less repair work due to their solid-state components, they can still present difficulties in terms of sourcing specific parts or components for replacement. On the other hand, more complex items like camcorders or portable cassette players, which have more mechanical parts and require more extensive repairs, can be frustrating due to the time and resources required to source and replace those parts. Additionally, the business model of holding onto a vast inventory of broken items, waiting for the demand and the viable solution to arise, can lead to a significant investment in time and resources before seeing any returns. Despite these challenges, the business of repairing and restoring vintage electronics can be rewarding, both in terms of the satisfaction of bringing old items back to life and the potential for profit when the right solution is found.
Experiences of reverse engineering Polaroid cameras and the retro tech industry
The modular design of Polar 600 cameras in the past made it easier for companies to reverse engineer and repair their products, but the shift towards digital technology and proprietary components in modern tech makes repair more challenging. The podcast discussion highlighted the experiences of reverse engineering Polaroid cameras and the importance of selling film to make a profit. Meanwhile, Corey and Adam from Retrospect shared insights on the repair process of various tech, emphasizing the differences between repairing mechanical parts and ICs, refurbishing versus repairing, and the scale of their operation. They also mentioned having a warehouse filled with tens of thousands of Walkmans, showcasing the surprising scale of the retro tech industry. Despite the niche perception, the complexity and size of these operations demonstrate the significance of repair and restoration in the tech world. However, the discussion also highlighted the challenges of repairing modern tech due to proprietary components and lack of availability of replacement parts.
Navigating unique challenges in vintage electronics business
Running a business involves navigating unique challenges, even in unexpected areas. For instance, our interviewee's business deals with refurbishing and selling vintage electronics. While it may seem easier to maintain the mechanical perfection of these devices compared to modern technology, it also comes with its own set of challenges and dangers. The team behind this business employs around 40 people, with an equal balance between office and factory staff. This strategic setup allows for a better work-life balance and prevents burnout, as customer service can be demanding and fulfillment requires a significant amount of attention due to the vast variety of one-off items they sell. Overall, their success lies in their dedication to their unique niche and the team's ability to adapt to the challenges that come with it.
Diverse Team for Vintage Camera Repair Business
Running a business like Retrospect, which specializes in repairing and refurbishing vintage cameras, requires a diverse team with various skills. The repair department alone employs around 45 people, including customer service and fulfillment, repair and refurbishment technicians, and specific techs. Some team members come with prior knowledge, while others are trained on the job. The company places great importance on its training program and believes that passion is a crucial factor in hiring. Refurb technicians focus on cosmetic cleaning and making the product presentable, while repair technicians handle the mechanical issues. The company aims for a balance between productivity and quality and finds that hiring people without prior experience can sometimes be beneficial. Additionally, there is a roughly equal male-to-female ratio among repair technicians, and the company is making an effort to encourage more women to apply for these positions. The process of repairing and refurbishing cameras involves various tasks, some of which are time-consuming and require a high level of detail orientation. For example, removing leather covers and scraping off glue, cleaning and polishing chrome, and performing quality inspections. The team's dedication to these tasks is crucial to the success of the business and the satisfaction of its customers.
Maintaining Efficiency in Electronic Repair Services
The process of repairing and restoring various electronic devices requires a significant investment in time and training. For companies specializing in these repairs, retaining skilled technicians is crucial to maintain efficiency and consistency in their services. The crossover between repairing different types of devices is possible, but the training time and expertise required for specific products may necessitate a more specialized workforce. The Midwest region of the United States, historically known for manufacturing, continues to play a role in the repair industry due to its access to skilled labor and manufacturing resources. Cross-training and job variety contribute to technician satisfaction and redundancy in the workforce.
Learning from Milwaukee's manufacturing scene
Visiting manufacturing sites and engaging with the people behind the production process was a valuable learning experience for the founders of Retrospect Photo. They discovered the unique advantages of being located in Milwaukee, including a strong workforce and a community of like-minded individuals. However, they also face challenges such as higher shipping costs due to their location. Despite these challenges, they prioritize using local and US suppliers whenever possible. Their current workspace, which includes a showroom, is a 15,000 square foot space that they are making the most of while focusing their resources on product development. Visitors are welcome to pick up orders or shop online, and tours can be arranged upon request.
Retro Tech: Preserving Obsolete Tech for Future Generations
Retro Tech, a company specializing in refurbishing and selling obsolete technology, sees the importance of fighting against obsolescence and providing tangible experiences for the curious and tech-savvy next generation. The founders, who initially kept their business private, now embrace sharing their passion and knowledge with the public. They believe that there's value in preserving and experiencing different formats like vinyl, cassette tapes, and film photography. Retro Tech aims to be a resource for individuals, regardless of age, to have an analog experience and live in both digital and tangible worlds. They invite anyone interested to visit their Milwaukee facility for a tour. To learn more or to purchase items, visit their website Retrospect.com or follow them on Instagram.
Shopping directly from Retrospect's website
Directly shopping from Retrospect's ecommerce website, retrospect.com, holds significant value for the brand. While their products can be found on other platforms like Ebay, Amazon, and through partnerships with Urban and Kohl's, the company places a high priority on sales made through their own site. This not only benefits the company but also ensures a more seamless and potentially more rewarding shopping experience for customers. So, if you're looking to shop with Retrospect, make sure to check out their website for the best experience and to support the brand directly.