All prices in USD
  • Avg. revenue /month
    $9,854
  • Avg. sessions /month10,587
  • Avg. profit /month
    $9,000
  • Inventory value
    $30,000

Business Story

Why this business was started

We created Wiplabs because too often we couldn't find tech accessories that would meet our functional or quality demands, so we deiced to create our own brand. We created a brand that now sell its own- and third-party products that always have an innovative Design or Technological aspect to them. This includes our patented and best seller Slope Tablet Stand.

The reason of selling this business

We decided to sell our business because it has always been a side activity for the two founders, and we feel that to accelerate the growth of the business it need a higher dedication than the time we (the founders) put in the business on a weekly basis (8h combined).

What's involved in running this business

Find and designing innovative tech products. Following up on production. Fulfilling orders and client management.

This business was founded: over 9 years ago
Time to run this business: approximately 6 hours per week

Traffic and Performance

  • Avg. revenue /month
    $9,854
    Verified
  • Avg. sessions /month10,587Verified
  • Avg. profit /month
    $9,000
  • Inventory value
    $30,000
  • Profit Margin25%
  • Avg. sales /month750
Other details about profit: We can provide the buyer access to our Quick Books and Trade Gecko accounts to see all the details of our performances. The bulk of our sales are not reflected in Shopify as we sell most of our products directly to distributors or end users. For example, out of the 5660 YTD (September 2019) Unit sold 4011 were sold directly, 732 on Amazon and 917 on Shopify.
Last 5 years revenue
  • $640,483
  • Revenue data comes directly from Shopify and cannot be edited by the seller
    Last 5 years traffic
  • 688,166Visits
  • Traffic data comes directly from Shopify and cannot be edited by the seller

    Expenses

    • Shopify plan
      $186
      /month
    • Inventory warehouse
      $1
      /month
    • Employees
      $500
      /month
    • Domain
      $100
      /year
    • TradeGecko (inventory Management $200 / Month), QuickBooks (accounting $16 / Month)
      $216
      /month
    • Mailchimp ($150 / Month), Facebook and Instagram ($150 / Month)
      $300
      /month
    • QBO
      $200
      /month

    Sale Includes

    • Physical inventory

    • Logo and branding assets

      All Photoshop and source (vector) files would be transferred to the buyer. All files are stored on Dropbox and a full access will be given to the buyer for ease of transfer.
    • Personal support after sale

      For 3 months we will help the buyer with any questions they might have on the supply side and the customer support side. We will ensure the relationship with the key supplier is established and that the buys is fully able to source the core products sold by Wiplabs.com. We will walk the buyer through all the procedure that were written to manage our shopify platform. The procedures were written to help new support functions add or managed products in our integrated Shopify / TradeGecko ecosystem.
    • Domain

    • Product photos

      We have high quality photos and videos of all our products that would be transferred to the buyer. This includes Art Works of the logos and the necessary .PDS files.
    • Social media

      Total followers57,382subscribers
    • Suppliers

      Not Included
    • Mailing List

      20,000subscribers

    Seller‘s Advice

    How to grow this business

    Wiplabs currently sells both our own products and third-party products but always with an innovative design twist. Over the years we have learned Wiplabs makes the most money on its own products, obviously because of the bigger margin, but also because we have a better control on the quality and after sales support. Our advice is then to continue and increase sales of proprietary products as opposed to third-party products. Another advice would be to continue to find product that have limited failing point and that age well like our Slope Tablet Stand.

    Skills to have

    Understanding of eCommerce would always be a big plus. The biggest challenge for Wiplabs over the years is keeping and increasing online visibility. There are many ways to advertise on online business today but understanding the intricacies of social medias, search engines and SEOs will also be very helpful.

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    KW
    Kevin W.Current store owner

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