- Avg. revenue /month$1,671
- Avg. sessions /month1,110
- Avg. profit /month$1,897
- Inventory value$16,244
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.
Traffic and Performance
- Avg. revenue /month$1,671Verified
- Avg. sessions /month1,110Verified
- Avg. profit /month$1,897
- Inventory value$16,244
- Profit Margin79%
- Avg. sales /month78
- Shopify plan
- Inventory warehouse
- Readytoship - Label printing and posting
Logo and branding assetsAll 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 saleI 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.
Product photosAll professional product photos will all be sent over online in a large zip file.
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
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.