All prices in USD
  • Avg. revenue /month
    $1,644
  • Avg. sessions /month1,108
  • Avg. profit /month
    $1,897
  • Inventory value
    $16,244

Business Story

Why this business was started

We started the business with a passion of finding a solution for affordable watches that can easily be changed up (interchangeable bands) to suit any occasion. Something that would be easily accessible to the Australian market. We wanted options so we created a line of unisex watches.

The reason of selling this business

Unfortunately, it was terrible timing when we started the business as one of our partners was posed with a work opportunity in the UK that we couldn't turn down. Therefore, the business had only been operating under 6 months before we had to make our move to the otherside of the world. We worked tirelessly with local influencers as well as a PR agency to promote the brand as much as we could before leaving Australia. We wanted to create a statement and put the brand forward however it required more time and it was quite hard to manage the business when both of us were abroad and this is where the business fell. The lack of attention we gave the business when it was only just starting out. We have built a strong foundation for the brand which a new owner with a new perspective could easily come in and grow. The last 24 months, we have put minimal effort into actively promoting the brand (which you can see by the direct traffic through Shopify), we feel like it's time to let go and give the business the opportunity it deservers give it to more willing hands. We've sold 1302 watches since the beginning at 68% margin which indicates growth.

We've been on countless printed media as well as reposts from social influencers via INstagram, been part of VOSN 2 years in a row and actively promoted at Christmas Markets .

What's involved in running this business

Product Design & Innovation: - Design of new watches (if you want to introduce new designs) - Innovating with new watch technologies - Getting watch manufactured ready to sell

Marketing: Paid search - Adwords & Bing ads Paid social - Facebook, Instagram, Pinterest Publicity & PR - Getting write ups in magazines as we have in the past Social Media management - Facebook, IG and Pinterest Affiliates - Using third party market places such as [REDACTED] They promote and sell our products on their site but we are responsible for distribution. They take up to 30% of the sale price but offer a good stream of cashflow.

Distribution: Because we design our products, all our stock is purchased and held (This is not a drop shipping business). Because we dispatch our own orders, we have full quality control on our products before we send them out (which we pride ourselves on). We are registered with AusPost with an automated label printing system that makes postage very easy on each order. All that is required is to dispatch the products at the post office or get the courier to pick them up.

Photography & Digital design: To promote and create a professional image, it's recommended to take good photos and prepare them to promote digitally. This can be done by yourself, a professional, or social media influencers.

Website Content management (Through Shopify) Managing stock, pricing, products, promotions and wording on the website.

Customer Service: Respond to any customer email enquiries.

This business was founded: over 3 years ago
Time to run this business: approximately 4 hours per week

Traffic and Performance

  • Avg. revenue /month
    $1,644
    Verified
  • Avg. sessions /month1,108Verified
  • Avg. profit /month
    $1,897
  • Inventory value
    $16,244
  • Profit Margin79%
  • Avg. sales /month78
Other details about profit: We have only started using Shopify in August 2016 so not all the sales are on this platform. We have sold 720 items (watches & straps) on Shopify. Before them, we used Squarespace which wasn't ecommerce focused but still managed to sell 688 items. We also use Affiliate partners who have sold 164 items but have taken 30% of the sale price. We've made $203,668 AUD in revenue since with a profit of 62%. We still have all stock available (stock list to send over on request) so there will be very little overhead cost.
Total revenue
  • $67,388
  • Revenue data comes directly from Shopify and cannot be edited by the seller
    Total traffic
  • 45,446Visits
  • Traffic data comes directly from Shopify and cannot be edited by the seller

    Expenses

    • Shopify plan
      $83
      /month
    • Inventory warehouse
      $1
      /month
    • Employees
      $140
      /month
    • Domain
      $1
      /year
    • Klaviyo
      $20
      /month
    • Adwords
      $20
      /month
    • Readytoship - Label printing and posting
      $46
      /month

    Sale Includes

    • Physical inventory

    • Logo and branding assets

      All files including: logos, branding assets, promotional photos, promotional designs, social media photos, influencer photos, press releases, press release photos will all be sent over online in a large zip file.
    • Personal support after sale

      I will offer 3-4 weeks support for anything regards to suppliers, manufacturing, design, marketing set ups and general enquiries. We will also ship the products to new potential buyer and transfer any other required knowledge. As we have only ran this as a 2man business, and the foundations have been built there is very little that is required to be transferred or set up again.
    • Domain

    • Product photos

      All professional product photos will all be sent over online in a large zip file.
    • Social media

      Total followers11,240subscribers
    • Suppliers

    • Mailing List

      1,735subscribers

    Seller‘s Advice

    How to grow this business

    In Australia, there is still plenty of opportunity to grow. First, I would push affiliates to boost brand awareness and cashflow. Target aggressively on paid media and paid social as we have never done this before. Reviewing our emailing list and start pushing through this channel. It would work best if we had an all channel strategy to drive traffic rather than my experience where I pushed one channel at a time with very little to no experience.

    Create a new collection to revive the brand range and allow for growth.

    International - Plenty of opportunity to target high disposable income markets again using social media influencers in different regions and target small printed advertisement such as flight magazines.

    We predominately targeted Australia only and didn't have a big budget to tap into overseas markets.

    Skills to have

    Marketing ideas and ability would be very beneficial Design and creative perspective E-commerce experience Eagerness to grow a brand to the next level

    Share

    PT
    Peter T.Current store owner
    After promoting my last two brands, it has led me to get into digital marketing space. I have now worked in two digital advertising agencies and have boosted my understanding of people management and performance marketing.

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