Friday, March 17, 2006

A Tech-Head Becomes Nostalgic, Earns Millions At It

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Mike Becker Story

Working in Washington's high-tech hub in 1998, all Mike Becker heard about was high-tech this and future that. So Becker took a look at what his fellow Redmonites were doing--and did exactly the opposite. Inspired by an article in Entrepreneur magazine and having long collected nostalgia-based toys and items from his childhood, Becker surmised "There's got to be people like me out there [who love nostalgia], where I could have a cool little business based on that love." Choosing to resurrect the bobblehead, Becker pulled out his life savings of $35,000 and took a business trip down memory lane.

Becker makes his "Wacky Wobblers" out of plastic. Focusing on characters and personalities he enjoyed from the past, Becker chose Bob's Big Boy as his first licensing conquest. He convinced the distributor who sold to the gift shops in Bob's Big Boy restaurants it would be a hit, and after a couple thousand sold, he landed a big order for 13,000. Becker then applied his profits toward new licenses, characters and molds.

Becker's second licensing deal came with the help of a business acquaintance who is the licensing director at New Line Cinema. His break took advantage of the afterglow following the first Austin Powers movie, which resulted in shagadelic sales of 80,000 bobbleheads.

Becker's growing line of Wacky Wobblers (recent additions include Bozo the Clown, Lucky Charms and Pink Panther) helped Snohomish, Washington-based Funko Inc. reach $2 million last year without selling to large discount merchants. Opting instead for the small, cool, independent gift and specialty shops, Becker is content with Funko's volume, but has plans to diversify with other products, keeping with the nostalgic vibe he's created.

And although he's now the one being approached by companies for licensing about half the time, the self-titled "chairman of fun" hasn't swayed on lucrative deals that didn't fit with his ideology, such as the promotional sports figures his competitors have jumped on. He continues to be the sole decision-maker judging which characters are Funko-worthy and vows to keep his small, eight-employee family-and-friend operation anti-corporate. "My dog's here every day, and we wear shorts and play video games like we wanted to in the beginning," Becker shares. "As long as I'm doing what I want to do and we're making a profit, I can't imagine anything better."

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