Here’s How Sofia Vergara Grew Her Multi-Million-Dollar Businesses

Sofia Vergara was only 22 when she first got a shot in the Hollywood spotlight. She was soon drawn into the world of television shows and brand endorsements that have helped her create an identity for herself. After several failed pilots, she landed a role in Modern Family, the sitcom that made her a beloved household name everywhere. Along with working on the show where she made $500,000 per episode during the later seasons, she also worked on two dozen commercials that earn her more than $20 million every year. While juggling work and brand deals, Vergara has established three successful businesses, a talent management firm called Latin World Entertainment, her lingerie brand called EBY, and Raze, a Latino-focused digital media company.

Sofia Vergara used various tactics to grow her business empire and amass a $180 million net worth over the years. Her determination for equal rights for the Latino community and entrepreneurial spirit has made her successful. Let’s look at the different ways Sofia Vergara grew her businesses.

Cashing On Spanish Speaking Market

As Hollywood is still trying to grapple with creating a place for Latino representation, Sofia Vergara knew the potential of the Hispanic market before a lot of people. She capitalized on her popularity with the community and aggressively marketed to the Hispanic people who supported her work. According to Variety, Sofia Vergara cashed on the lucrative market by co-founding her an agency for Hispanic Management in the world of Entertainment.

Engaging With Customers

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While playing the character of Gloria Pritchett on the ABC sitcom Modern Family, Sofia Vergara was ranked the highest-paid actress by Forbes for seven consecutive years. Through her television presence, she created a customer base and established multifaceted businesses in fragrances, apparel, and furniture collections. She uses social media and television platforms to interact with loyal customers who buy her products and become a part of her business community.

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Taking Risks When There Is No Opportunity

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Sofia Vergara began her career as a host on the Univision network at 22. Being responsible for presenting on television, Vergara needed a manager to help her through the process. However, there were no managers for Latina TV personalities at the time. Managers only took musicians as their clients. In 1996, she co-founded a Hispanic talent management company called Latin World Entertainment with her partner and manager, Luis Balaguer. Twenty-five years later, she is still the company’s client, and co-founder and Latin World Entertainment have become a premier marketing firm in the United States, as noted by NBC News. She decided to create an opportunity for herself and the future of the Hispanic community in Hollywood.

Investing In Technology

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In 2017, Sofia Vergara went digital when she co-founded and launched a mobile video service with her partner Luis Balaguer also called Raze. She invested in technology that attracts younger Latino audiences with a slate of original programs featuring upcoming stars. The video service was created since there was a void of programming services for Latino millennials. As mentioned by The Hollywood Reporter, it has reality programs such as Raze Camp, Synchronicity, and Foodie Hero With Juana Martinez.

Using Subscriptions to Grow Customer Base

Sofia Vergara co-founded an indie-lingerie brand called Empowered By You or EBY in 2018 that creates underwear to represent empowerment rather than seduction. The company offers consumers subscriptions wherein they can get regular lingerie deliveries after periodic months at an affordable rate. The company marketed this to keep a steady customer base that will keep subscribing to the brand to buy more. Made with no-slip grip technology, EBY has created lingerie unlike anything on the market. Along with making sales, 10% of the profits are donated to the non-profit organization Seven Bar Foundation, which helps underprivileged women start their businesses. In August 2021, the business received $6 million funding from a Series A round investment, as stated by Daily Mail.

Negotiating What Is Right

Sofia Vergara is proud to be a global entrepreneur and is privileged to empower and lead Latino women in the world of business. The Hispanic community is still struggling to gain equality as the community is severely underpaid compared to others. She believes that it is important to negotiate and find the courage to ask for what is deserved. Vergara is an active speaker for Latino rights, and she used her platform as a Hollywood A-list celebrity to market her community through her businesses in the entertainment industry. This gained her a strong following from the Latino community.

She began her rise to stardom from an underappreciated community and became a pioneer in creating a platform for them through her businesses. Sofia Vergara has earned millions by concentrating on the lucrative Hispanic market with solid support from the Latino community. While providing a platform to empower her people, she has become a global entrepreneur everyone can look up to.

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Sources: Variety, NBC News, The Hollywood Reporter, Daily Mail

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