Salt and Lace Intimateswww.saltandlaceintimates.com
- Avg. revenue /month$68,122
- Avg. sessions /month54,773
- Avg. profit /month$11,100
- Inventory value$83,270
Why this business was started
I started my Shopify store as a means to make money as a stay-at-home mom. I love working from home and I love the flexibility to create my own schedule. I am fascinated by e-commerce and social media so this business was something fun to try. The drop-shipping business came with limited risk, and over the past 3.5 years, we have slowly grown into a hybrid drop-shipping/private label brand offering fast shipping from our Illinois warehouse to all 50 states and most countries. It's important to note that quality means everything to our customers so everything we drop ship now comes from reputable US-based lingerie brands.
2020 was spent elevating the brand. We now offer eco-friendly reusable silk gift wrap and a customer loyalty program. Literally everything I could think of to elevate our customer experience and brand presence was done. What we are seeing now is a 61% increase of returning customers compared to 2020. What an exciting time it is to take over Salt + Lace and scale leaps and bounds!
The reason of selling this business
This is the right time to sell because of the recent increased sales and interest in the brand. Selling my store will give me enough capital to invest in real estate and become a full-time stay at home mom. My youngest just started kindergarten last year and I would like to devote 100% of my time to creating a fun learning environment in the home. I'm really proud of the business I built and now I am ready to start a new chapter in my life. I believe the right buyer will know how to scale this business and improve profitability.
What's involved in running this business
My weekly tasks involve checking email, meeting with my various teams on Zoom, and running my social media. My Virtual Assistants (who live overseas) run the day-to-day customer service tasks and keep me free to do almost anything I want throughout the day. I only work when I want to, which is a couple hours a day and I schedule all my meetings on Thursdays to keep my week open and flexible.
We generate the bulk of our traffic using Facebook and Instagram Ads. Our traffic is highly targeted using look-a-like audiences and we have a 22.4% return customer rate (up 61% from last year). We maintain customer relations through our loyalty program, social media and email/SMS campaigns. We are constantly fine-tuning our funnel with retargeting ads and customized email flows through Klaviyo. We conduct customer and product research in the form of testing social media advertisements. Winning ads are rinsed and repeated across multiple lookalike audiences. We provide value with blog content related to our niche and promote the blog on Pinterest and then follow up with an email campaign to convert customers to purchase.
Much more could be said and I gladly look forward to discussing this at length and answering all of your questions.
Traffic and Performance
- Avg. revenue /month$68,122Verified
- Avg. sessions /month54,773Verified
- Avg. profit /month$11,100
- Inventory value$83,270
- Profit Margin8%
- Avg. sales /month1,496
- Shopify plan
- Inventory warehouse
- Klaviyo and GSuite
- Facebook, IG, Pinterest, Google
- Optional store apps
Logo and branding assetsWe will transfer our Canva account to you which has our brand portfolio. This includes colors, logos and previous marketing assets designed for social media and the website. Our Canva account is $12/mo. All other media is saved to our shared google drive. We run three gmail accounts which will also be transferred to the new owner.
Personal support after saleIf you require personal support I can make myself available to the new owner for any questions the first two weeks after the sale. I want to make sure the transition is smooth for you and for my entire team. I will co-join our team's weekly conference calls with you. I am here to help.
Product photosAll reports (sales and inventory spreadsheets) and image/video content are saved on our shared google drive which the new store owner will have access to. All model, photographer and influencer talent we use will be made available to you as well.
SuppliersWe have three main suppliers in China, Hawaii and Florida. We also support two other US-owned, small businesses by stocking their products as additional gifts which can be purchased during the holidays. We will make sure you are introduced and that the transition is smooth for all parties. My customer service team, who you will acquire, is fully capable of communicating with our suppliers and can answer any questions you may have.
How to grow this business
I would continue to improve AOV. Efforts made this year have increased AOV by 35% compared to 2020.
Improving conversion rate is a top priority. We recently launched a style/fit quiz to improve customer experience and product trust prior to checkout. There are only a few other brands in our niche doing this. We believe this sets us apart from our competitors and we are currently waiting on the results to see how much this has improved our conversion rates. I believe the right buyer will have more great ideas for increasing conversion rate. Our CRO team is at your disposal for implementing and analyzing split tests and heatmaps. All of this is reported to you each Thursday.
I would work with a PR agency to get published in magazines and gain celebrity endorsement. These efforts would allow @saltandlaceintimates to be verified by Instagram/Facebook which leads to brand trust and potentially higher conversion rates.
I would work to get Salt + Lace Intimates into retail stores. We are currently in one boutique store and we receive a lot of wholesale interest from boudoir photographers looking to add to their client closet as well as from lingerie boutiques. I believe wholesale is a great opportunity as a five-year plan.
We also receive 10% commission on referrals made to our largest lingerie supplier. I would nurture that side of the business more by improving our marketing approach to buyers interested in wholesale.
Previously, we shipped everything ourselves which was much more cost effective. I would consider moving back to a privately-owned warehouse space and hiring hourly workers to process orders and returns in order to save on 3PL costs.
Skills to have
I consider Salt + Lace 95% turn key! We are already contracted with experienced teams who handle our email marketing, SEO, Facebook, Instagram, Google, and Pinterest Ads, customer service, etc. A general interest in women's fashion or lingerie is a plus, but not required. If you don't want to run the social media and content creation, like I have done, I can give you a great recommendation for a social media marketing team. Ownership of Salt + Lace can be really hands off if you have the right teams in place. Largely, what it boils down to is making sure you are offering the right styles each season for the right traffic and existing customer base you already have. I will give you all the tools and winning strategies I've used to make you feel confident and thrive in your new business.
Our features for a secure experience
- Verified revenue and traffic
- Secure messaging platform
- Escrow payment system
- Dedicated migration team
Why use Exchange?
Exchange is the largest and fastest-growing marketplace for Shopify e-commerce stores
Verified listing data
The revenue and traffic data that you see on each listing is pulled directly from its Shopify account. This means that the data has been verified. Exchange reviews and monitors listings for thorough and accurate information.
Secure messaging platform
You will be able to communicate with sellers via a secure messaging platform. After you log in and request information from a listing, sellers are notified and have the ability to respond. When you are ready, you can make an offer.
Encrypted payment capture
Exchange and Escrow.com have partnered together to provide you with safe transactions that have bank encryption, making sure that payment is securely captured. Escrow.com ensures that its users pass verification checks before transactions can proceed.
Take time to inspect the business
Once you submit payment to Escrow.com and the payment has been secured, the funds are held until you confirm that all assets received are as negotiated. You can use the inspection period to ask the seller any extra questions about the business.
Safe store transfer
When the transaction is finalized, the dedicated migration team at Exchange will begin the process of making you the new owner of the store. Buyers and sellers will be notified via an email from the Exchange team once store transfers have been completed.
Post-purchase 24/7 Shopify support
Once you log into your Shopify account for the first time and choose a subscription plan, Shopify Support Gurus are available 24/7 to help you with the settings of the store.