Back in 1994, while still in university, I started a side hustle building and selling "refurbished" PCs out of my parents’ basement. I assembled them using a mix of new and used parts, working with whatever little money and time I had available.
It didn’t take long to realize I’d stumbled onto something huge. Back then, brand new computers were very expensive and were constantly being upgraded. Mainstream stores didn’t bother with refurbished products, leaving a gap in the market and a growing supply of obsolete inventory.
A year later, I teamed up with one of my suppliers and took the leap to open our first small store in an old K-Mart plaza in Brampton. What started on a shoestring budget eventually scaled into 24 stores with an average footprint of 10,000 sq ft. They were packed with refurbished and closeout computers, electronics, and home goods at prices 20 to 50% lower than market.
Our online presence, debuted in October 2000, at the dawn of the internet era. It quickly rose to become one of Canada's premier retail websites, attracting over 3 million users annually.
Over nearly three decades, Factory Direct generated over $1 billion in sales, served millions of customers, and created jobs for thousands of people.
A the end of the day, what made it work was embracing change and being backed by a truly amazing team. It was a hell of a ride, and the lessons were priceless!