Founder Spotlight: Monique Evancic of Seed Play Love
Monique, founder of Seed Play Love. Photo courtesy Monique Evancic.
We caught up with Monique after her company Seed Play Love (Boise) was acquired by Country Creek Acres (Brentwood, MO) in early 2021.
Monique created the original Seed Play Love product based on play tents she made as a child while growing up in Southern California. After researching the market, she saw a need for an all-in-one kit, and bootstrapped the e-commerce company in 2019. After building relationships at trade shows, growing wholesale accounts at nurseries, and growing the online store, she was able to find the right buyer in Country Creek Acres, an organic heirloom seed company.
Was there a specific KPI or metric that helped you know that Seed Play Love was ready to sell?
“I built a strong brand and had achieved an intimate understanding of my target audience and had sales and momentum. The time was ripe for a more established company with a much larger recurring customer base to take it to the next level.”
You had mentioned having an end game in mind while you’re building your business; what specific steps or resources helped you plan your exit?
“I received good advice to start with the end in mind especially in terms of branding. I modeled the brand after successful companies with a similar target audience. I identified potential future buyers and tried to package my business so that it would fit into their product portfolio seamlessly, thus making it more attractive to buyers.”
Do you have any pieces of wisdom or tips that could help an entrepreneur navigate the negotiation stage?
“I consulted a couple founder colleagues of mine that had gone through the sale of a company. I learned a simple truth: regardless of the size of the sale, the principles remain the same: understand what the buyer wants. That's why I encourage other small business owners (even Etsy shops) to consider selling their business instead of just dissolving.”
Resources Monique Recommends: Idaho Women’s Business Center, Idaho SBDC, Business Resource Center at Zion’s Bank