The paint-by-numbers business, established in October 2018, has rapidly grown with total revenue surpassing $1,100,000. From 2019 to 2020, net income increased from $69,306.41 to $112,529.14, with an average monthly profit of $8,723 based on 18 months of data. The brand distinguishes itself with exclusive rights for bestselling designs, high-quality products, fast shipping, exceptional customer service, and a returning customer rate of 8.4%. The business is well-positioned for expansion, as demand for at-home activities and unique gifts rises.
Currently promoted through Facebook and Instagram ads, there is potential to increase revenue via influencer marketing, Pinterest, and Google Ads, as well as through subscription models. Customers often make repeat purchases, boosting the customer lifetime value, with some having placed over 10 orders. Products are sold through their e-commerce platform, yielding significant profit margins per item.
The operational process involves bulk purchasing from a supplier in China, with products shipped to a U.S.-based fulfillment center that handles storage, shipping, and returns. Orders placed through the online store are dispatched promptly, all managed remotely.
The business is on sale due to the founders seeking new ventures. Assets include valuable social media followings, intellectual property, a large email list, and existing relationships with suppliers. There is current inventory worth $8,500 retailing at $62,000 and incoming stock valued at $17,874 retailing at $162,000. Additional assets feature brand materials, customer databases, and various digital accounts and services integral to the business's operation.