All prices in USD
$8,950
  • Avg. revenue /month
    $1,150
  • Avg. sessions /month585
  • Avg. profit /month
    $800
  • Inventory value
    $1,500

Business Story

Why this business was started

I enjoy well-made items and was tired of working at Chickfila. I became passionate about watches in highschool and realized that the strap industry is relatively unsaturated but there is room for growth.

The reason of selling this business

I am tired of running it. I haven't had the time to actively manage it, and Covid caused sales to slow down drastically.

What's involved in running this business

Communicating orders with our employee(s), maintaining the website, shipping orders, and communicating with clients.

This business was founded: over 2 years ago
Time to run this business: approximately 8 hours per week

Traffic and Performance

  • Avg. revenue /month
    $1,150
    Verified
  • Avg. sessions /month585Verified
  • Avg. profit /month
    $800
  • Inventory value
    $1,500
  • Profit Margin60%
  • Avg. sales /month10
Other details about profit: I haven't really made money myself because I spent so much on equipment and photography gear. However, if managed properly, there is certainly profit potential. Sales have obviously slowed down because of Covid, and my numbers have not factored this in. I am valuing the business at $25,000 because if managed properly for 40 hours per week, this could be an extremely profitable business. I have set up an excellent website and brand that have a lot of potential. I think the right investor could see a return in under 18 months. By working around 8 hours per week, I have been able to generate a profit of around $14,000-$20,000 annually as a side hustle. I also feel that my numbers are skewed since there have been extremely busy periods where I have had to focus fully on school and not work at all on my business. When I am able to work 8-10 hours per week, I make good money. We also make a lot of sales (probably 15-20%) on Paypal that are not reported on Shopify.
Total revenue
  • $31,060
    • Revenue data comes directly from Shopify and cannot be edited by the seller
    Total traffic
  • 15,800Visits
    • Traffic data comes directly from Shopify and cannot be edited by the seller

    Expenses

    • Shopify plan
      $30
      /month
    • Inventory warehouse
      $0
      /month
    • Domain
      $14
      /year
    • Paid apps
      $12
      /month

    Sale Includes

    • Physical inventory

    • Logo and branding assets

      I have a logokit that I paid about $800 for.

    • Personal support after sale

      I'll help with the transition for 2-3 weeks by answering any questions. I will also include a document that explains exactly how our products are made.

    • Domain

    • Product photos

      They're on the site already.

    • Social media

      Total followers2,350subscribers

    • Suppliers

      I'll let you know what to look for in finding quality materials.

    • Mailing List

      Not Included

    Seller‘s Advice

    How to grow this business

    It depends how it was managed. I have put minimal time into it since I'm a full time college student.

    If I was to work full time on this business with the intention of growing it, I would do the following:

    Join all major watch collector groups on Facebook. If this store is purchased, I will let the buyer know which groups convert the most sales.

    I would then pay to be a sponsor of the Watchuseek forum. Apparently it yields great results. I have not done it because I would have to hire more help to fulfill all of the orders we'd receive and I have not had the time.

    I would also hire about 5 full-time leather artisans. This would allow for much bigger revenues.

    Facebook ads should be utilized. I attempted some ads but had no luck and didn't want to put too much money into them. With practice, it would be very profitable.

    Skills to have

    They should be able to communicate with their employees and study how watch straps are made.

    Share

    DC
    Daniel C.Current store owner
    I'm an MBA student and started making watch straps during my undergrad. I started this business as a fun hobby and I'm ready to sell. An EBIT multiple of under 2x is a great buy. Even if you don't grow the business at all or put much time in, you'll make your money back in under 2 years.

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