All prices in USD
  • Avg. revenue /month
    $36,274
  • Avg. sessions /month25,329
  • Avg. profit /month
    $4,581
  • Inventory value
    $1

Business Story

Why this business was started

I started Rice Love because I was disappointed with the lack of transparency in existing "give-back" brands. A lot of brands say they give back, but I wanted to show customers the proof! Every item we sell comes with a unique hang tag number that customers can use to see the photo and story of the family they help! So far, we've hand-delivered over 60,000 kilos of rice to families in need in India!

The reason of selling this business

The business is doing well and has unlimited potential. However, I have been running it for over 5 years and I'm ready to pass on the torch! I typically change jobs/projects every 1-3 years, so I'm overdue. I'm ready to begin a new chapter in my life and I'm excited for you to begin yours!

What's involved in running this business

  1. Product development and ordering. Working with factories on new designs and ordering product
  2. Collaborating with our partner in India to hand-deliver rice
  3. Maintaining a content calendar so that fresh content is shared on social media and through email marketing.
  4. Social media ads - you can work with an agency.
  5. Experimenting with new sales channels and in-person events.
This business was founded: over 5 years ago
Time to run this business: approximately 30 hours per week

Traffic and Performance

  • Avg. revenue /month
    $36,274
    Verified
  • Avg. sessions /month25,329Verified
  • Avg. profit /month
    $4,581
  • Inventory value
    $1
  • Profit Margin12%
  • Avg. sales /month1,000
Other details about profit: All revenue from online retailing, wholesale, and events are recorded in our Shopify account.
Total revenue
  • $2,357,803
  • Revenue data comes directly from Shopify and cannot be edited by the seller
    Total traffic
  • 1,646,433Visits
  • Traffic data comes directly from Shopify and cannot be edited by the seller

    Expenses

    • Shopify plan
      $79
      /month
    • Inventory warehouse
      $500
      /month
    • Employees
      $2,622
      /month
    • Domain
      $30
      /year
    • Email marketing, shopify apps $40
      $225
      /month
    • Facebook/Instagram Ads, Adroll Display Ads, Advocate Program commissions, photography
      $10,651
      /month
    • Bank service fees $82, Office supplies $445, Payment processor fees $728, Sales Tax $105, Travel $410
      $1,770
      /month

    Sale Includes

    • Physical inventory

    • Logo and branding assets

      All branding assets are stored in our Google Drive account. An account will be created for the new owner. Then, ownership will be transferred over.
    • Personal support after sale

      As the new owner of Rice Love, I want to see you be successful! I'm happy to answer questions for 6 months after the sale. Starting in April 2017, we successfully partnered with a Third Party Logistics (3PL) company for warehousing and order fulfillment. After the business is transferred to you, I will facilitate an introduction and you will be able to decide if you want to continue to work with this 3PL or transfer inventory elsewhere. Either way, it is important to discuss the timing of the transfer of responsibility on past customer orders so that both parties have an excellent understanding of who is responsible. Before the transfer, I will ensure that all open customer orders will be fulfilled by our 3PL so that no orders are left outstanding. This will be verified in Shopify with postage tracking numbers listed on every order that was shipped. In the rare occurrence of a chargeback, where a customer reports to their credit card company that they did not receive an item they purchased, we simply submit the tracking number to the credit card processor and the chargeback is denied to the customer. If you provide me with staff access on the Shopify account, I will help resolve any chargebacks for the first 6 months. If a chargeback is approved by the credit card processor for an order that was placed before the date of transfer and no tracking number was provided, I will take financial responsibility for it. Chargebacks are very rare. Since January 2016, we have had a 6-month return/refund policy and a 6-month warranty policy. You may make new policies after the business is transferred to you, however, you will need to honor these policies for customer orders from the 6 months prior to transfer. Here is how you will be expected to honor the policies by previous customers: According to Rice Love's existing return/refund policy, customers are responsible for the cost of shipping products back to the warehouse. If products are returned in re-saleable condition within 6-months of the date of the order, you (as the new owner) will be liable for the refund as you (as the new owner) will regain possession of the product and be able to resale it. If a product is not returned in re-saleable condition or not within 6 months of purchase, you (as the new owner) do not need to provide the customer with a refund. You are welcome to be more generous than this, however, you will incur the expense for being more generous. That being said, a generous attitude is typically rewarded with a positive reputation and customer referrals. Rice Love has a very low return rate. As the seller, I will not be financially responsible for any refunds, but if I'm provided with access, I am happy to provide you with the support as they occur. According to our warranty policy, customers can make a warranty claim on defective products within 6 months by emailing a photo of the defect or damage to hello@ricelove.com. Compensation includes a partial to full refund or sending out a replacement product. I will assist with all warranty claims determinations for the first 6 months after the sale according to the same standards we have had since 2016. The respective vendors have been responsible for defective products by deducting the cost of these products off of future invoices. However, I will be financially responsible for all approved warranty claims costs that the vendor does not cover. I will provide examples of defects and review these standards with you in more detail. The cost of rice giving is a value added service that is included with the cost of each product. All rice giving (1 kilo of rice provided) was paid for at the time the inventory was purchased. For all of the items in inventory, the rice will have been delivered to families in need and all corresponding photos and stories will have been uploaded to ricelove.com. We take great pride in this effort and will review this with you to ensure that you are 100% satisfied.
    • Domain

    • Product photos

      Rice Love owns thousands of original digital lifestyle and product photos. These photos will be transferred to the new owner via Google Drive.
    • Social media

      Total followers81,500subscribers
    • Suppliers

      All supplier relationships will be transferred to the buyer.
    • Mailing List

      37,666subscribers

    Seller‘s Advice

    How to grow this business

    I recommend reaching out to the media to get free publicity! Rice Love has an amazing story that has plenty of room to be told. Rice Love has a loyal following waiting for new products. Keep making new products and you'll have customers waiting to buy them.

    Skills to have

    You should have a desire to give back. You should be interested in fashion, particularly the beach-boho style. And, you should have some business education or e-commerce experience.

    Share

    CT
    Corbin T.Current store owner
    My name is Corbin Thomander. I founded Rice Love LLC in 2015 with a goal to build a business that helps people and the planet. After 6 years of operation, I'm stunned to see that we've done just that! Rice Love has not only improved my life, but thousands of families in need in India. It's not just a product, it's a movement - that changes the world one bag at a time. I hope you envision yourself owning a business that not only is a great investment, but makes a positive impact on the world.

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