- Avg. revenue /month$32,544
- Avg. sessions /month45,858
- Avg. profit /month$9,609
- Inventory value$85,000
Why this business was started
I was watching the Google Developers Conference in 2014 when they passed out Paper VR headsets (Google Cardboards) to the attendees. They open sourced the design, so I created Knoxlabs to sell Google Cardboards. I was one of the first and in under a day there were about 500 pre-orders. And then Google + other brands contacted asking me to manufacture for them as well and grew from there. In the last 6 years, Knoxlabs was able to manufacture about 3.5M headsets, create a new VR development platform from this and now has transformed into a full-fledged marketplace.
The VR world is very much wild wild west, there is so much to build and it is us super fun. Yet, it is still riddled with the paradigms of yesterday, both hardware and software wise, so there's much work to do, that's why it's interesting. The place where commerce meets VR is the most interesting as at the end of the day things must sell. So being the VR marketplace makes sense, also Knox is the only one at the moment.
The reason of selling this business
I want to concentrate on building a niche VR product -- VR controller bracelets.
What's involved in running this business
Ideally having your own warehouse space would be great to store. Someone to manage inventory and print things and send it. Really good customer service. Constant communicating with Vendors, buying bulk. Good operations person + shipping. Good communication with customers. Sales person for certain high tag products.
Traffic and Performance
- Avg. revenue /month$32,544Verified
- Avg. sessions /month45,858Verified
- Avg. profit /month$9,609
- Inventory value$85,000
- Profit Margin30%
- Avg. sales /month640
- Shopify plan
- Inventory warehouse
- paid apps
- Google Ads
- Dropbox, slack
- Fulfillment + shipping
Logo and branding assetsLogos + anything web related or brand related, social media, any graphics. Everything is on Dropbox, so can be transferred easily.
Personal support after saleCan transfer customer service and will help with telling the existing vendors of the transition. Can be available for 2 months.
Product photosEverything you see on the site and everything we have
SuppliersClose relationship with all our suppliers, exclusivity on two major ones. I will help with transitions here.
How to grow this business
Become the one stop shop for anything VR. Concentrate on niche VR products that do not have representation in North America. Many innovate VR products are made by small startups outside of the US. You can negotiate 30-50% discounts on the products and don't have to do the legwork on actually making a product but enjoying similar benefits as if you were to manufacture yourself.
Become the face and extension of these products in the US by providing the infrastructure (shipping, storing, customer service and sales) and making it super easy for these companies to enter the US market. Concentrate on bundling things together and offering a seamless experience.
Why many buyers buy from Knox instead of Amazon now is because the knowledge we show towards VR. Become the first VR shop selling VR things. Definitely own the instagram "VR news" market, it's completely open now -- through this you can push VR products naturally, without the need of obtrusive ads. Become the launchpad of all the new VR products, such as the Vive's and Oculuses. Knoxlabs is almost at that stage. Also look at which products sell well and start manufacturing those products yourself. Become the Logitech+Amazon of VR.
Skills to have
Good branding. Friendliness with both vendors and customers. Handling of backend logistics of ebb and flow of inventory.
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.