All prices in USD

Private listing #771947

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$250,000
  • Avg. revenue /month
    $9,019
  • Avg. sessions /month2,093
  • Avg. profit /month
    $5,077
  • Inventory value
    $61,099

Business Story

Why this business was started

The [PRIVATE INFO] was born in 2016, out of a love for travel and design. Charlotte and Matthew Tully launched the business as a means to share captivating and unique finds from around the world. They had both been dreaming of a venture for years, and this "passion project" quickly formed upon the heels of an inspirational trip taken together.

Hunting for that special piece is a challenge and an art form. Charlotte's interior design education and experience guide the aesthetic, while Matthew's business and marketing background enable the communication and platform. Partnering their skills, they source and sell product they believe is truly exceptional.

The reason of selling this business

We love our shop, its been a passion of ours for years. We now are in a position with kids and other projects that we just do not have enough time to give the business what it deserves to scale. We essentially have been growing organically, doing over 100k in sales for several years, but to grow past this it's more of a time commitment than either of us currently have.

With strong imagery and dedicated marketing, the business has the ability to scale very fast. The barriers to entry are high in this market. Knowing suppliers of the best rugs is extremely tricky, and due to our rugs being sourced from North Africa (Morocco), it's hard for other businesses to replicate.

What's involved in running this business

Day to day operations include:

Customer service - Responding to emails about orders, inventory or general product questions. We do an occasional color match if needed. We often get requests for custom orders or sourcing a specific rug which we have the ability to do with our suppliers.

Packing and shipping products that are ordered. We have packaging materials and printables that go with all orders. As mentioned we are going through a rebranding and will be including all new rebranded items.

Reordering of inventory with our suppliers. We have rugs that we like to keep stocked which always get reordered. We also have our own designs and have those being ordered semi-regularly. We also often get new styles from our suppliers which we can choose from. We are expanding our "made to order" category which will allow us to further scale and sell more products outside of what is just in our physical inventory.

We have a "final sale" policy, but every so often we will take a return for store credit (only have taken a handful in our years of operation).

Posting, commenting and replying to social media questions and comments.

Marketing - We have a small marketing campaign going on Instagram (28k followers) and Pinterest, but other than that, media posts and regular email blast to our 1400+ email subscribers.

This business was founded: about 4 years ago
Time to run this business: approximately 10 hours per week

Traffic and Performance

  • Avg. revenue /month
    $9,019
    Verified
  • Avg. sessions /month2,093Verified
  • Avg. profit /month
    $5,077
  • Inventory value
    $61,099
  • Profit Margin55%
  • Avg. sales /month3
Other details about profit: We have very strong margin on our products, and due the the high end nature, each sale is on average $2,500, with an average margin of 55% per full sized rug. We do offer designer or trade discounts and that is a 15% discount, and we will do sales quarterly but rarely exceed 15% discount. Shipping is paid by the customer, and is on average around $70 per rug shipment via UPS ground.
Total revenue
  • $450,937
  • Revenue data comes directly from Shopify and cannot be edited by the seller
    Total traffic
  • 104,688Visits
  • Traffic data comes directly from Shopify and cannot be edited by the seller

    Expenses

    • Shopify plan
      $26
      /month
    • Inventory warehouse
      $110
      /month
    • Domain
      $17
      /year
    • Gmail and Adobe Lightroom
      $16
      /month
    • Facebook/Pinterest
      $600
      /month
    • Later (social media software/0
      $20
      /month
    • Storage Unit
      $110
      /month

    Sale Includes

    • Physical inventory

    • Logo and branding assets

      We will send everything over via dropbox and will work with the buyer to make this seamless! We have trademarks, legal documentation, insurance etc, all of which will be transferred. 5 years of photography (product photos, professional photo shoots, client photos, small amount of video content) We have our current branding content and are going through professional rebranding which will be included. Recreated logo, new website with enhanced functionality, designed printable (to go with orders). We will include all social media and digital: Instagram, Facebook, Pinterest, Mailchimp.
    • Personal support after sale

      We will provide support for 3 months, and are willing to commit up to 6 hours per week. We can assist with introductions to vendors, working through a formal transition plan. We can provide times for calls or screen shares to walk through the buying, ordering, restocking process from front to back. We will provide training and guidance to the team while the transition occurs. We will also review the advertisements we have running on social media.
    • Domain

    • Product photos

      We have years of product imagery, and we will send via dropbox.
    • Social media

    • Suppliers

      We have fantastic and vetted supplies that we have worked with for years. The supplier connections and relationships are key, along with negotiated wholesale rates. These contacts, and relationships will be transferred, and we can stay engaged where necessary during the transition. We have wholesale rates negotiated, and we will make sure all details are setup for the buyer.
    • Mailing List

      1,449subscribers

    Seller‘s Advice

    How to grow this business

    We are currently in the middle of a full rebranding, website refresh, updated logo etc. The next 5 years will rely on dedication to marketing, social media content, imagery and time.

    Skills to have

    The business is actually humming. The only skills the owner needs to have is a passion for home décor and time to promote and market the business.

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