The Founder’s Cut - Episode 18 - Phil Terrill of SoleSafe

Welcome to this episode of The Founder’s Cut. In today’s episode, we dive into the exciting world of sneaker culture and the rise of sneaker insurance. Today, we have a special guest, Phil Terrill, the founder and CEO of SoleSafe, which provides insurance for sneakers. Sneaker culture has exploded over the years, with collectors and enthusiasts willing to pay top dollar for rare and limited edition sneakers. But with the high value of these shoes comes a greater risk of loss or damage. That's where SoleSafe comes in, offering peace of mind to sneakerheads by protecting their investments and offering asset management for collectors. During our conversation, Phil shares the inspiration behind the creation of SoleSafe and the challenges and opportunities they face in the market. We learn that SoleSafe has tapped into a vast and growing market opportunity, as the sneaker industry is projected to reach a global market size of $128 billion by 2030. With the rise of sneaker culture (global resale sales hit $6B in 2020 and are estimated to be $30B by 2030) and the increasing value of rare and limited edition sneakers, there is a growing need for reliable insurance options (Specialty Insurance Market is projected to reach $178B by 2030). SoleSafe is filling this gap, providing a unique service that addresses the specific needs of sneaker collectors and enthusiasts. As Phil explains, their mission is to provide insurance and educate customers. So, whether you're a sneakerhead yourself or just curious about the world of sneaker culture, this episode is a must-listen. Join us as we explore the exciting and lucrative market opportunity that SoleSafe is tapping into, and learn about the future of sneaker insurance. #sneakers #sneakerhead #startup #entrepreneurship #startup #business #invest #founder

___________

About Adam: My name is Adam Choe, and this is my channel. I'm an investor, recovering entrepreneur, former managing director of a startup accelerator, an adjunct professor, a former research fellow, and a curious learner testing the theories of everyday life one theory at a time. This channel is dedicated to talking about all things entrepreneurship, investing, relevant current events, and other random topics that I think could be interesting or helpful to talk about. I'm a first-generation Asian-American, and my family came from South Korea 40+ years ago. Just trying to figure out this game called life one day at a time. Thanks for checking out the channel. If you like the content, like, subscribe, and stick around!