- Avg. revenue /month$23,381
- Avg. sessions /month10,366
- Avg. profit /month$7,000
- Inventory value$60,000
Why this business was started
My wife and I started the business as we could not find any good leather bags on the market which had great quality which we could afford. We either found designer bags with a huge price tag or cheaply made products with bad materials that fell apart. There was a gap in the market for well designed bags made from quality materials which would last a lifetime and not break the bank - so [PRIVATE INFO] was born. In the beginning we started small with some key styles and went to lots of shows to prove concept and get direct feedback from customers. This was successful so we sold via a mixture of wholesale and e-commerce but we concentrated on wholesale as this is what we knew. As the brand has developed we have transferred to direct to consumer and as a result we catapulted the online revenue in 2020 by 2.5x to $750,000
The reason of selling this business
We have decided to sell the business as we have been in the fashion industry for nearly twenty years and would like a change. My partner and I love developing new products and since having three young girls we are looking to do more work in the baby/Children’s industry. We want to try something different and new whilst leveraging our skills as brand designers and entrepreneurs.
What's involved in running this business
[PRIVATE INFO] has been selling bags since 2014 so we have a loyal customer base and good brand presence. We currently generate traffic through a mixture of organic and paid advertising. We create brand awareness via our blog articles as well as our facebook and instagram social feeds and actively creating content such as videos for paid social generating great brand awareness. Once we have traffic going to the site we capture these leads through email sign ups and add them to our email database so we can retarget these customers through both paid advertising and email marketing. We maintain our customers through good communication and email flows as well as news updates and new releases. We run loyalty offers to our VIP customers through email marketing (Klaviyo) and for new customers offer other products they may also be interested in. We get product and customer journey feedback through our reviews app Loox and monitor online behaviour with Hotjar so we are constantly looking at ways to improve our customer experience and optimise conversion rates.
Traffic and Performance
- Avg. revenue /month$23,381Verified
- Avg. sessions /month10,366Verified
- Avg. profit /month$7,000
- Inventory value$60,000
- Profit Margin20%
- Avg. sales /month350
- Shopify plan
- Inventory warehouse
- Referral candy, Loox, hubbox, facebook feed, gem pages, pre-order management, fera product reviews
- Facebook, IG, Adwords
- Canva, Quickbooks, Upworks
- Agency fees for marketing , bank fees, accounting fees
Logo and branding assetsWe have all of our assets in various formats in Google docs or we are happy to send via any other file sharing apps.
Personal support after saleWe are happy to offer support for one month after the sale via email, telephone, Skype, Zoom.
Product photosPlease see our site for product pictures these again are already in Google docs or we can supply by other file sharing apps.
SuppliersWe have an extremely good and long term relationship with our supplier so this would be easily transferred to the new owner if required.
How to grow this business
We have seen a fantastic increase in revenue (2.5x) since going D2C last year and spent the last twelve months really concentrating on paid advertising in particular facebook and IG advertising. This not only puts you in front of hundreds of thousands of potential buyers creating great brand awareness and has contributed to over 50% of 2020 total revenue. To continue to scale its vital that this continues as well as pushing the organic sales through more traditional campaigns such as blogs, news, journals and social feeds. To continue to scale, the email database needs to be increased (currently 8k) by getting sign ups through competitions and joint brand ventures. We have a good conversion on email marketing making up 17% of total revenue with the lowest cost of acquisition from all sales channels so this is a channel that needs to be pushed more heavily. This has increased from 5% to 17% in one year so with some more work this should achieve 25% of total revenue.
Skills to have
As you will be buying a brand that is already established and we can advise what products sell in high quantity I would say the most important skills are digital marketing and content creation. These can be done in house or by many freelancers or agencies. Other skills which are going to really help are website management (good at Shopify), customer service and having a sharp eye for good aesthetics/design.
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.