- Avg. revenue /month$1,888
- Avg. sessions /month376
- Avg. profit /month$900
- Inventory value$8,000
SwingLab answers the growing demand for stylish porch swings with a sleek, modern look. Since 2012, design-conscious customers around the world have sought out our flagship product: A thoughtfully crafted swing with clean lines and modular backrests that easily move for sitting or lounging in different positions.
It's time to scale up, but SwingLab is a part-time endeavor for me. I avoid promoting it, because I can only handle a few orders a month. For the buyer willing invest in marketing — and in the inventory to fulfill the resulting increase in orders — SwingLab is poised to fill a large and profitable market.
This business launched a one-of-a-kind product that earned acclaim from design leaders, who have featured it numerous times in print publications, blogs and social media outlets. SwingLab satisfies a market niche few competitors are addressing. Since it has grown steadily with virtually no spending on promotion, there is tremendous potential to grow both the product and the SwingLab brand.
Since 2012, I have continually streamlined the production process to maximize financial and time efficiency. In addition to the SwingLab Shopify store, I am also selling the plans and designs for the product. This includes all specs, supplier contact, marketing materials, and available inventory.
Many customers want to customize the color of the metal and the color and species of the wood. A wider product offering with more size and design variations would certainly lead to more sales. Focused marketing, particularly to Indians and Indian-Americans (a particularly strong customer segment) would yield results. I never implement these changes because my manufacturing and supply chain couldn't handle the volume of orders I know it would generate.
Someone with a good mind for fabrication could reduce the cost of making the product and boost profits. Full-time employees or relationships with factories could help. This could include overseas manufacturing. I currently make, or have made, all components in the USA. This is a great part of the story, but it makes for an expensive product.
A talented designer could add more products to the SwingLab family, which would surely boost sales.
Proprietary design of the product.
Product engineering. Marketing.
Proprietary design of the flagship product Product engineering Branding Marketing (Shopify website, exposure at events in NYC, social media accounts, etc.) Professional photography Professional video production Supply chain management Packaging design PR (resulting in coverage on design blogs like Apartment Therapy, Design Sponge, etc) Personal customer support
Traffic and Performance
- Avg. revenue /month$1,888Verified
- Avg. sessions /month376Verified
- Avg. profit /month$900
- Inventory value$8,000
- Profit Margin40%
- Avg. sales /month2
Other details about profit: While shopify is the main sales channel, I also sell some through Houzz. I also have a small number of direct sales. Numbers below are estimated averages.
- Shopify plan
- Inventory warehouse
I would start by increasing some targeted marketing. An ad in something like Dwell would be a good fit. For cultural reasons, high end swings are very popular with people from India. Targeted advertising to this community would be low hanging fruit. I would also invest in doing some specific high-end tradeshows, such as the International Contemporary Furniture Fair.
In order to handle the volume of orders I would expect, I would plan to train someone to do the woodwork in-house. I would also find a less expensive aluminum fabricator for the frames, possibly in Mexico, and buy them at a higher volume. I believe consumers would tolerate a manufactured frame, but value American craftsmanship for the wood.
Finally, I would diversify the product line. Customers are constantly asking for more choices in both wood and frame color. I would also create more products that fit into a "family" with the existing swing. This would offer the opportunity for price architecture, with some products at higher and lower price points.
This business would be great for a "maker". Besides hands-on fabrication skills, someone who knows how to get things manufactured and can keep up manage supply chain. Knowledge and appreciation of high end, contemporary design would help develop more product choices and communicate with SwingLab's typical customer.
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