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$29,000 USD

Solely Socks

www.solelysocks.com

Appears in Fashion and apparel , Canada, Alberta, Edmonton, Business and Franchises under $50,000, Medium Business, Inventory, Established stores, Highly Profitable businesses

General description

Solely Socks Inc. (o/a Solely Socks) is a premium sock brand based out of Edmonton, Alberta, Canada. It is incorporated and 100% of the shares belong to a single shareholder, the Owner. Currently sells online and in person, and wholesale to physical retail stores (shoes stores, kiosks, clothing stores.). The following assets are included in the sale: website and all registered domain names, Facebook and Instragram business accounts, all photography and logos, professional photo studio, sock design templates, hang tag design templates, all corporate records, previous tax filings through accounting firm, trade mark filings, manufacturer contact info and ordering instructions, 1000 Branded shipping boxes, Zebra thermal label printer, cash register with commercial receipt printer, 6 plastic foot mannequins, 50 branded rotating countertop display racks for retail stores, 7,200 pairs of men’s and women’s socks, customer base and contact info for prospective customers, 3 hours of coaching each month for the first 3 months, introductions to existing retail store owners, 3 year non-compete commitment from current owner.

Financials and traffic

September through to January have the majority of all the sales. The "annual revenue" section below shows $6,606.00 USD of online verified sales through the stores checkout last year, however additional $4,400 USD was sold through cash or cheque totally 11,000 USD. In previous years when I marketed more, revenue was $20,000 USD per year.

Average profit/month

$950 USD

Average overall profit margin

75%

Average number of sales/month

30

Value of inventory

$21,000 USD

Recent revenue

$36,759.00 USD

Recent traffic

10,326 Sessions

Revenue and traffic data from this graph is calculated by Exchange and can not be edited by the seller. Average profit, profit margin and number of sales are provided by the seller. Learn how Exchange calculated this data.

Business Expenses

Expense item

Cost

Shopify plan

$100.00/month

Subscriptions (ie. Mailchimp, apps)

$20.00/month

Advertising (ie. Adwords, Facebook ads, etc.)

$50.00/month

Inventory warehouse

$5.00/month

Domain

$2.00/month

Inventory

Located in Edmonton, Alberta, Canada

Willing to ship inventory

Willing to transfer relationships with suppliers

What’s included in the sale

  • Physical inventory
  • Logo and branding assets
  • Social media accounts
  • Personal support after sale
  • Domain
  • Product photos

Social Media

Facebook

solelysocks15

Mailing list

300 subscribers

Social media followers

3,500 people

Q & A

Why should someone buy this store?

Turn key business, ready for someone to take over.

How can the future owner improve the business?

My wife and I had a baby last year, and I no longer have time to dedicate to the business. The buyer would just need to market more and have designs created once per year. This can be done through freelancing, however I made all of the current designs by using Shutter Stock, and similar licensing websites. Prior to having a kid, I easily ran this business while working a demanding full time job Monday through Friday.

What work have you put into the store?

I store all of the inventory at my house and fulfill all of my orders myself. I ship to customers by dropping off packages at any local courier location.

How many hours does it take to run this business per week?

2 hours

$29,000 USD

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