A big payday for friends Bonnie Kelly and Teresa Walsh, who decided a few years ago to start their own business out of their basement just to earn a little extra cash for themselves. The two friends turned a little basement business in to the million-dollar business Silpada, a jewelry party themed business with thousands of jewelry representative selling at in home parties. A few months ago Avon reportedly bought the company from the two friends for a whopping $650 million dollars.
The two women laugh about how they started out, using one of their kid’s notebook and drawing up a rough draft of a business plan while eating at McDonalds. They were both stay-at-home moms just looking to supplement their income for their families, and deciding on jewelry was something they were both interested in and could do together.
Not wanting to grow too fast and wanting to make sure they did it right, they started out selling jewelry from other suppliers, while planning ahead till they eventually were only selling what they designed. Without any idea or training on how to go about selling through direct party sales, the two did their own on the job training, learning as they went.
Even though the company was sold to Avon, the two are still good friends and in fact still design all the pieces of Jewelry Silpada carries, which is made in several locations all over the country. After having managed to build a multimillion dollar business out of a basements, Walsh told reporters it was truly an American dream.
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