- Avg. revenue /month$253
- Avg. sessions /month208
- Avg. profit /month$1
- Inventory value$30,000
Why this business was started
First, it's important to define the term Maaser. In Hebrew it literally means "1/10th". It comes from the concept of donating "1/10th" of anything you bring into your home in a year back out to your community.
Maaser Home was started with the vision of using commerce to do more than sell really good product. Maaser was built on the idea that good values begin at home, and so that's where we began. Bed sheets came first as product, and we began there because none of us could identify with a bedding brand we were either loyal to or had ever interacted with. 25 years old at the time, we were just starting to replace the sheets our mothers bought us. The market data showed us the same thing, that people replace their sheets once in 10 years on average. In the last 5 years several direct-to-consumer bedding brands have emerged on the idea that they can influence awareness and eventually loyalty including Brooklinen and Parachute Home which have both been estimated to do more than $60M a year in revenue.
Maaser was going to carve out it's own type of consumer. The consumer who is in the market for a high quality linens experience, and would appreciate receiving a free extra blanket to donate to someone in need in their neighborhood. We also wanted to turn the concept of "buy one give one" on its head. Traditional models like TOM'S and Warby Parker will donate a pair on your behalf. We felt there was an opportunity in enabling our customer to do the deed themselves for their own personal good, and strategically as a content creator.
We were also fortunate and successful in sourcing the very best sheets (we can talk more about supply chain privately) and building a brand that embodied the purpose of our "why".
The reason of selling this business
We all started this business on the side, and fortunately or unfortunately (still not sure how to look at it) we have all grown quite significantly at our primary jobs. Beyond that, several people in our network reached out to us once Maaser was up and asked questions around who did the branding, photography, website, and so on. We said we did, got three "clients", and accidentally built a branding agency that took up most of our time. We also realized that's the lane we love to be in, building but not operating. Additionally and to be totally transparent, we built it undercapitalized. We had just enough money to build the brand, site, photography. We purchased our initial inventory on partial credit, and had no real money left over to begin buying ads and media. This business absolutely requires an ad budget, and if you are pretty good on operating the acquisition side, the sky is the limit for you.
What's involved in running this business
It's pretty simple.
- Buy Inventory
- Work with a 3PL to fulfill orders through Shopify (we can recommend a few)
- Post to social media a couple of times a day (we already have a feed format our followers are used to, but there is obviously opportunity to re-think and grow)
- Above everything. Customer acquisition and having the budget to do so.
- Our SKU assortment to date is very simple. We haven't had a single return or complaint.
- Ability to generate user content. We believe this is what takes the brand over top. We have quite a bit of video content to share for reference.
Traffic and Performance
- Avg. revenue /month$253Verified
- Avg. sessions /month208Verified
- Avg. profit /month$1
- Inventory value$30,000
- Profit Margin40%
- Avg. sales /month2
- Shopify plan
- Inventory warehouse
- We haven't spent money on a regular basis on ads, subscriptions, software, but can make recommendations on where we would have and what they should cost.
Logo and branding assetsGoogle Drive folder.
Personal support after saleWe will provide transition assistance and introduction to factory up to 45 days post purchase. We will also share ideas on how we think the business can be improved and taken to the next level, along with strategic freelance recommendations.
Product photosGoogle Drive folder.
Mailing ListNot Included
How to grow this business
1) I'd immediately start experimenting with Facebook, Instagram, and Pinterest paid advertising. This is a brand with a story, not just a quality product. Paying to tell the story in the early days is a way to let the story pay dividends over time. There is a clear cut way here to drive customer acquisition costs over time, but there is no question it is necessary today. If you don't have a follow up budget post-sale to put into marketing costs I don't believe this is the right business for you.
2) Add color. We're currently only selling White/Cream. Add color doesn't mean buying into a heavy amount of inventory, it means buying just enough to not alienate a customer who might've purchased from you had you offered a Navy.
3) Continue to find opportunities to tell story. Bed sheets came first with the natural opportunity of including a blanket for our customers to gift. A natural growth opportunity would be in adding Towels to the mix and with it including a "a clean up kit" with a mini mouthwash, deodorant, and body wipes that could be included as a gift.
4) Just Enough. Create just enough content off-line that would enable you to create ads with potentially viral outcomes. The downside of the larger linens brands created in the past 5 years is that their ads are always product focused (and obviously it works for them), but their business models are entirely dependent on having healthy acquisition budgets without a clear path into having a brand that is bigger than the product. Remember this step requires you have a marketing budget.
5) Collaborations. We make really high quality sheets. One avenue we always felt was worth pursuing was linking up with Hotels and enabling them to have a do-good story of their own without doing the heavy lifting. Sleeping on our sheets would mean a blanket is donated.
Imagine arriving to the Bryant Park Hotel in New York City with a card and blanket on your bed that reads:
"Welcome to New York. The answer is Yes. These sheets can be purchased in the Lobby. And this blanket over here? It's for you to gift one of the many people on our streets you will see in need as you explore this amazing city".
I can go on forever.
Skills to have
Customer acquisition is king. If you possess that know-how with budget, you will rock this.
Our factory is incredibly easy to deal with and they are educators before they are makers. You will learn everything you need to know about sheets thru them easily.
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.