Build-A-Bear Workshop Inc. Overview

Build-A-Bear Workshop Inc. 

Introduction

Build-A-Bear Workshop, Inc is a North American retailing company whose headquarters is located in Saint Louis, area of Missouri, United States. The company primarily deals with the sale of teddy bears as well as other stuff-designed animal characters. Recognized as one of the most efficient and prominent bear-building corporations, Build-A-Bear Workshop, Inc is committed to delivering excellent and unequal service delivery to its customers through its artistic style of creating and innovative style of operation. The company had adopted the use of a series of taglines to attract customers in a bid to make them a glimpse of what services it offers. Taglines such as, “Where Best Friends Are Made” adopted from 1997 through 2013, as well as “The Most Fun You’ll Ever Make” which was adopted after the aforementioned was dropped are leveraged by the company. Customers who are willing to patronize the company would undergo a series of interactive sections by the company’s staff in order to better understand their preferences and determine how best to serve them.    

Key Statistics & Facts  

Founding Year: Build-A-Bear Workshop, Inc was founded in the year 1997, approximately 25 years ago.       

Industrial Ranking: Build-A-Bear Workshop, Inc is recognized as one of the largest retailing stuffing corporations in the United States as well as the world.     

Company Type: A Public Corporation Company (PLC)       

Market Reach:  Build-A-Bear Workshop, Inchas almost 500 retail offices and stores operating globally alongside a vast digital market reach that extends beyond most of its counterparts.  

Industry Type: Retailing, Animal Stuffing  

Trading Type:  Build-A-Bear Workshop, Inc is traded on the New York Stock Exchange (NYSE) market under the ticker symbol, BBW. Its stock is a component of the Russell Microcap Index.  

Workforce Strength: As of 2011, Build-A-Bear Workshop, Inc has a total number of 5, 643 in its workforce globally. 

Historical Background  

The vision of Build-A-Bear Workshop, Inc was birthed in the mid-1990s when its founder, Maxine Clark decided to resign as one of the top officials in a company operating under the name, Payless ShoeSource to form her own enterprise. During this time, Maxine underwent through series of operations all boiling down to her figuring out how best to establish her business startup. She drew a couple of business plans and eventually got settled for the Build-A-Bear Workshop plan after it as been selected by a group of children she conducted as her panelists and jury, so that in the year 1997, Build-A-Bear Workshop, Inc was founded and incorporated. 

After founding Build-A-Bear Workshop, Inc,  Maxine indicated her interest in buying another animal stuffing company recognized as Basic Brown Bears, a company which was in the year 1985 and categorized under the DIY (do it yourself) retailing animal stuffing company. When the company was eventually bought, Maxine had a series of business goals in ensuring the business picks up a rapidly growing style which is relatively unusual in the industry. She thought about expanding the business by opening a couple of more stores in a relatively short period of time. Typically, she set a short-time goal of having a total number of 100 stores within five years. According to research, her first and initial recorded sales went above the projection line as she recorded a total sum of $377, 600 USD. 

In the year 1998, Maxine went into a deal with an investment company operating under the name, Kansas City Equity Partners. The deal gave her the leverage to open her second office in Overland Park, Kansas around August of that year. Afterward, she secured another deal with a company operating under the name, Windsor Capital which brought in a total sum of $4.5 million USD into the company’s operation. The deal resulted in two additional stores being opened in Chicago with the overall revenue of the company hitting $3.3 million in sales. 

In the year 1999, Build-A-Bear Workshop, Inc signed another deal with another investment firm recognized as Walnut Capital Partners which invested a total sum of $5 million for the company’s expansion. As usual, the deal extends the company into opening more outlets which ultimately amounted to Build-A-Bear Workshop, Inc having a total number of 14 outlets under its management. In the same year 1999, Build-A-Bear Workshop, Inc sent out letters to a couple of companies who were alleged to have infringed the company’s intellectual property (trademarks and copyrights), and in total, the company has a total number of 14 lawsuits to protect as high as up to 380 trademarks, and patents, and copyrights. 

In the year 2004, Build-A-Bear Workshop, Inc went into public with its first initial public offering (IPO). Its first international franchise was opened in an area known as Sheffield, England, United Kingdom, licensing a company operating under the name, Hasbro. And later that year, the company opened another new store in Pittsburgh, and Ohio, United States with a totally new concept known as “make-your-own-doll.    

By 2006, Build-A-Bear Workshop, Inc had already recorded a total number of 9 Friends 2B Made stores under the company’s management.  

Dating from 2011 to 2013, the company recorded an increase in Millennial women’s patronage of accessories to be used and worn for their pets. In the year 2013, one of the lawsuits of the company against Cepia, LLC regarding copyright and patent infringement was resolved. And in that same year, the founder and CEO, Maxine Clark stepped down as the company’s CEO with Sharon Price John being onboarded as the new CEO of the company. Build-A-Bear Workshop, Inc licensed two companies operating under the name, Little Pony and On Direction to become part of its franchises. 

In the year 2018, on July the 12th the company organized a program across several countries, typically, three– the United States, Canada, and the United Kingdom, giving patrons the leverage to pay a token for a bear using the age of their child. The discount window led to a massive responses from customers in these countries who came out in mass storming every location of the company as well as other shopping malls where the company’s products are sold.  

In August 2018, launched a brand that was tagged to operate with the name, Kabu. The brand was a pre-teen lifestyle brand. In the same year, the company also opened a six-pop-up pilot outlet in Walmart stores. The launching of these six outlets led to more series outlets being opened in 25 other Walmart locations. In October of the same year 2018, the corporation released its radio station. 

In the year 2020, Build-A-Bear Workshop, Inc moved its head office which was formerly located in Overland to St. Louis, Missouri.   

Product & Market Niches 

New Arrivals 

Holidays 

Stuffed Animals & Clothing 

Character 

Kids & Adults 

Giftshop 

Sale (Cyber Monday Deals, Clearance). 

Financials 

Revenue: $358 Million USD (2017). 

Brands 

The following highlighted names are recognized as the Build-A-Bear Workshop, Inc brands 

Build-A-Dino 

Beary Fairy Friends 

Honey Girls 

Kabu 

Promise Pets 

Division & Subsidiary 

Build-A-Bear Label (JV) – Division 

Build-A-Bear Entertainment, LLC – Subsidiary 

Pros and Cons 

The following under-listed reveal the pros and cons of Build-A-Bear Inc based on employees’ reviews on Indeed.com as well as critical reviews of the company. 

Pros 

Fun place to work for 

Supportive environment 

Customer Commitment 

Flexible working hours 

Good remuneration 

Cons 

Relatively bad managers 

Lack of compensation and other related benefits 

Conclusion 

 No doubt, Build-A-Bear Inc has an astounding and enviable performance in the industry sequel to its style of commitment to customer service as well as it is support from avid and giant partners who are the industry’s top leading companies like Warner Bros Music partners with entertainment music segment of the company. However, deducing from this review, Build-A-Bear Inc has played a great role since its inception in the year 1997 up to this day. Ultimately, this piece has comprehensively reviewed all there is to know about the retailing company, Build-A-Bear Inc, addressing carefully all major aspects of the company in a bid to expand your knowledge about the company. That said, I hope you are able to absorb every detail provided. Additionally, I hope you would agree that Build-A-Bear Inc has all it takes to remain a strong pillar in the animal-stuffing industry due to its pioneering ability, however, on the off chance that the company keeps its momentum just it has since inception, in no time, it would not only be recognized as one of the leading companies in the animal stuffing industry but also by extension, become the best and the overall leader the retail industry.