From idea to $766M viral sensation 🚀

Hey Hustlers, today I am going to do something different.

I needed some inspiration this week. Lately I’ve felt stuck and listless. So I started digging around and found a story that blew me away. It’s the story of a guy who took an incredibly simple idea and blew it up into a $766M sensation.

You’ve probably heard of it, it’s called the Blackstone Grill. It’s basically a propane griddle.

Which seems incredibly simple. It’s one of those “Wait how did this not exist before?” ideas. And in some ways it did. But like so many things it needed some tweaking, dialing, and (like most things that rocket to the moon) some killer marketing.

Here’s the story:

Humble Beginnings

Roger Dahle's journey with griddles began in his childhood, inspired by his father's annual trips to the Lions Club Fourth of July breakfast. These events featured homemade griddles, sparking a fascination that would eventually become his life's work. As Dahle grew older, he noticed that griddles were a staple at large family gatherings, Boy Scout trips, camp-outs and community events, yet they were hard to find in stores. This planted the seed for what would later become Blackstone Products.

In the early 2000s, Dahle decided to turn his vision into reality. He realized that people loved outdoor cooking, but traditional grills limited what you could cook. A griddle allowed you to cook almost anything, and to cook for all three meals. A grill just can’t do that (try cooking eggs on a grill).

Armed with sketches on a yellow notepad, he began the process of creating a commercially viable griddle. It took about a year of sourcing a factory in China and refining prototypes before the first Blackstone griddle was ready. The product made its debut at a local retailer in Utah, and by 2006, Blackstone griddles were available to the public.

The Slow Burn to Fame

Despite the initial launch, it took years for the Blackstone griddle to gain traction. Dahle faced challenges in finding the right retail channels, as the product didn't fit neatly into existing categories. Hardware stores saw it as a sporting goods item, while sporting goods stores considered it too bulky. Nevertheless, Dahle persevered, driven by his belief in the product and its potential.

The turning point came in 2015 when Dahle decided to focus exclusively on Blackstone. He divested from other business interests and dedicated all his efforts to building the brand. The company started investing in TV advertising, leveraging Dahle's experience in the infomercial world. This traditional marketing approach began to pay off, driving awareness and interest in the Blackstone griddle.

The Social Media Boom

While TV advertising laid the groundwork, it was social media that catapulted Blackstone to viral fame. Platforms like TikTok and YouTube became crucial in spreading the word about the griddle. Influencers and everyday users alike shared videos of themselves cooking on Blackstone griddles, showcasing the versatility and fun of griddle cooking. The phrase "I finally got a Blackstone" became a common refrain, signaling the griddle's status as a must-have item.

Recognizing the power of social media, Blackstone hired influencers to create content and run their YouTube channel. The company also closely monitored user-generated content, often reaching out to passionate fans to bring them on board as brand ambassadors. This strategy not only amplified Blackstone's online presence but also fostered a strong, loyal community around the brand.

Innovation and Expansion

Blackstone's success is built on more than just social media savvy. The company continually innovates, expanding its product line to meet customer demands. From adding air fryers to griddles to developing a range of accessories, Blackstone listens to its users and adapts accordingly. For instance, the idea for a hard cover for griddles came directly from customers who were improvising with homemade solutions.

The company has also ventured into consumables, launching a line of spices and sauces tailored for griddle cooking. These products are designed to enhance the cooking experience, further embedding Blackstone into the daily routines of its customers.

Challenges and the Future

Despite its rapid growth, Blackstone faces challenges typical of a fast-growing company. Supply chain issues, competition, and patent infringements are ongoing concerns. However, Dahle remains optimistic and focused on innovation. The company is exploring new markets, including international expansion, and considering new product categories that align with its core strengths.

One area of interest is electric griddles, designed for both indoor and outdoor use. This product line addresses potential future regulations on propane use and caters to a growing market for versatile cooking appliances. Blackstone is also looking at diversifying its manufacturing base, with potential production in Vietnam and the United States.

Let’s Talk Money

It appears that Blackstone was gearing up for an IPO in late 2021. But there is no ticker that I can find, so it looks like it was aborted.

But the company projected revenue in 2022 to be $608 million, which was a 26% over 2021. I can’t find 2023 data anywhere, but if we assume that the growth rated continued, they’d be sitting at $766 million. They estimated EBITDA of $81 million for 2022, which would translate to somewhere around $100 million in ‘23.

And you can bet this business is still growing. I did some spying on the company’s Amazon store and estimate that it is doing close to $80 million a year on Amazon alone. That’s ONE chanel.

Between direct response TV infomercials, big box store sales, and sales through their website this is easily a billion-dollar business.

All because a dude in Utah liked to cook outside and didn’t like his options.

That’s pretty inspiring to me…

Kriss Berg, Car Wash Guy