- Avg. revenue /month$20
- Avg. sessions /month58
- Avg. profit /month$25
- Inventory value$55,000
Why this business was started
My career and where I work is always a serious place, I wanted to do something fun. Where I can create new things, empower women and encourage people to live a fit life. I wanted to create a brand that will highlight strong women, may it be because they are single parent raising kids, women dominating sports, working moms who are providing and caring for their family. I wanted to build a community that supports a healthy lifestyle.
The reason of selling this business
I started LARO Athletics in 2018 and after establishing online presence, I was able to sell a few apparel online during the test phase of the business. When I finally ironed out all the processes and operations. The US Air Force ordered my family and I to relocate to Germany. so I was forced to pause my business for a year.
Once I got to Germany, I found out that if an American establish a business in Germany, the German government will tax not only the business income but also any income to include the income received from the Air Force. This basically force a business owner to pay taxes twice, one in the US and one in Germany. For this reason, I am not able to pursue any business in Germany. It is not sustainable and will only cause financial hardship.
Instead of letting my inventory sit in the warehouse. I decided to find someone who has a passion for fitness and entrepreneurship. Someone who can continue to grow the business to its full potential. The potential being, Global Sports apparel market is expected to garner $184.6 billion by 2020 with a 4.3% increase from 2015-2020 (Sports Apparel Industry).
If the new owner of LARO Athletics aims to target 1% of the total market, it will yield $1.8B. Yes, that is $1.8 Billion dollars!
What's involved in running this business
As a business owner, you will have to dedicate time. Time, for everything. Marketing, social media, community, quality of products, and most of all the people that supports your business.
Having a strong social media presence can boost profits and increase community support. Must understand the supply and demands for athletic apparel in terms of when to sell and when to design a line of apparel.
You will also have baseline tasks, like checking if there are orders, packing, shipping, and customer follow up.
Traffic and Performance
- Avg. revenue /month$20Verified
- Avg. sessions /month58Verified
- Avg. profit /month$25
- Inventory value$55,000
- Profit Margin25%
- Avg. sales /month1
- Shopify plan
- Inventory warehouse
Logo and branding assetsFormal business transfer
Personal support after saleI can provide support up to 40 hours of support as needed. Via call, chat or email Monday to Friday, for 1 month post sale. We can discuss order management, supplier relationship, and the creation of FaceBook ads and Instagram. The business is running on a Shopify platform. Shopify created a solid customer service. The new owner can contact Shopify 24/7 and they'll provide support.
Product photosEmails and potentially FTP transfer
How to grow this business
Fitness Industry can be segmented numerous ways which presents an opportunity to target a specific group or customers within the fitness industry. LARO Athletics initial market focus will consist of young professional actively participating in the sports of fitness performing functional fitness activities and this will represent 70% of the targeted audience, 20% will be focused on Yoga, running, strength and conditioning audience and last 10% will focus on women involve in leisure activities traveling, hiking and exploring.
The initial line of apparel will consist of women athletic pants, after establishing a brand and a community around the brand, LARO Athletics can begin to introduce athletic accessories such as, wrist wraps, hats, and a new line of women tanktops. The opportunity does not stop there, there is the Men's apparel side of business. Global Sports apparel market is expected to garner $184.6 billion by 2020 with a 4.3% increase from 2015-2020 (Sports Apparel Industry). This growth in sales is due to the significant growth in health awareness and increasing fitness activities such as aerobics, swimming, running and yoga among consumers.
Once you have a good community base which can be achieved by leveraging social media. The company brand will cary itself and sell itself through the community that supports it, like Crossfit community, yoga community, runners, and everything else in between.
Growing a business does not happen overnight. As a new owner you need to be able to dedicate time running the business and connecting with people.
Skills to have
In our present state, social media has become the platform in which people converse. As a new owner, you need to be able to navigate FaceBook, Instagram, and a few other social media platform to create your community, who will support and carry your brand.
You also need to be able to understand the market, when to boost your market and when to focus on your apparel lines (new design). This will help sustain supply and create demands through the community.
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.