Dorm Company Corporation

DormCo
Founded Buffalo, New York, United States (2010 (2010))
Founder Jeff Gawronski
Headquarters Buffalo, New York, United States
Products College supplies
Website www.dormco.com

Dorm Company Corporation, also known as DormCo, is an American online retailer headquartered in Buffalo, NY that specializes in dorm supplies for college students. The company was founded in March 2010 by Jeff Gawronski.[1]

History

In 1999, Gawronski invented and built a product called the Bed Post Shelf and sold these as dorm items to incoming college freshman. The idea behind the Bed Post Shelf was to provide a shelf to college students sleeping on the top bunk.[1]

After selling the Bed Post Shelf to incoming college students, Gawronski attempted to bring the Bed Post Shelf to market to large retailers, but after some roadblocks, started his own website selling college supplies in 2006.[1] The original dorm products company ousted Gawronski in April 2009 and Gawronski re-launched as Dorm Company Corporation in March 2010.[1][2]

In 2011, DormCo had $1.2 million in revenue, which increased with 2013 revenue at $4 million and 3-year growth of 405%.[1][3] In 2014, DormCo was listed as #1098 on Inc. 5000's list of the fastest-growing privately held companies.[4] DormCo has also been featured by several media outlets, including The Today Show, Seventeen magazine, Oprah, MSN News, and Family Circle.[5]

Industry

Recent trends show that more college students and families are using online retailers for back to school shopping, with 35.6% of families planning to shop online.[6] With total spending for college reaching $43.1 billion in 2015, college students are changing their dorm-room decor needs.[6] In recent years, college students are increasing the amount they spend on matching bedding, curtains, and other dorm-room supplies with an average of $126.30 per student being spent on dorm-room decor and dorm supplies, a figure that is up 30% from $96.70 in 2014.[6]

Products

DormCo provides dorm supplies for college students, including bedding, compact-storage options, trunks, rugs, seating, and decorations.[7][8] They also have a gift registry and wish list that allows students to share what they need with family and friends.[9][10]

Acquisitions and investments

In October 2013 DormCo purchased Primo Lights, a company that offers Christmas and Craft Lighting for all occasions.[11] DormCo has also partnered with College-Ave, which sells DormCo's dorm supplies through their web store.[12]

In August 2009, Gawronski launched Yak About It, a website for inventors to advertise their inventions by participating in daily/weekly competitions. The website was featured in Entrepreneur Magazine, but the initiative was unsuccessful and the site currently sits dormant.[13]

References

  1. 1 2 3 4 5 Williams, Geoff (August 31, 2011). "Jeff Gawronski, Dorm Co: Back To School Means Big Bucks". The Huffington Post. Retrieved September 27, 2015.
  2. ↑ Gawronski, Jeff. "Company Takeover: Turns Successful Rebuild". Under 30 CEO. Retrieved October 1, 2015.
  3. ↑ The Editors of Inc. "Dorm Company". Inc. Retrieved September 27, 2015.
  4. ↑ Glynn, Matt (August 22, 2014). "Buffalo's Imagine Staffing Technology makes Inc. 5000". The Buffalo News. Retrieved September 27, 2015.
  5. ↑ "Check Out DormCo in the News!". DormCo. Retrieved September 27, 2015.
  6. 1 2 3 Grannis Allen, Kathy. "After Splurging in 2014, Families Trim Back-To-School Spending For 2015". National Retail Federation. Retrieved October 1, 2015.
  7. ↑ Fontana, Frank. "Dorm Design: From Dreary to Dreamy". Oprah. Retrieved September 27, 2015.
  8. ↑ Koncius, Jura (August 12, 2010). "Tiny dorm rooms: The first test collegians cram for". The Washington Post. Retrieved September 27, 2015.
  9. ↑ Lobosco, Katie. "Weddings? Babies? Now college kids are registering for gifts too". CNN. Retrieved September 27, 2015.
  10. ↑ Shaw, Alexis. "High School Grads Set Up Registries to Handpick Gifts". ABC News. Retrieved September 27, 2015.
  11. ↑ "Primo Lights Store". Primo Lights. Retrieved September 27, 2015.
  12. ↑ "College-Ave Store". College-Ave. Retrieved September 27, 2015.
  13. ↑ Wang, Jennifer. "Genius Resources and Products for Entrepreneurs". Entrepreneur. Retrieved September 27, 2015.
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