Incredible opportunity to acquire a single product eCommerce business with unbelievably great margins.
Watch the video below to learn a bit more about the owner and his business.
Tell us a little about yourself. What’s your background? How did you start with this project?
I graduated with a business degree about 15 years ago then started two successful offline companies. Three years ago it hit me how everyone is shopping online. So I decided to start an online store. My first product was a phone car mount that sold well then I decided to test bible keychains and that product took off like a rocket. After that I decided to turn my store into a brand and design my own product which is the one of a kind exclusive bible necklace.
How are you marketing this product and what sort of return on ad spend are you seeing?
I only market this product through facebook ads and i’m getting 2-3 times return on my ad spend. Please note that i’m not a facebook expert which means if the new owner is very skilled at facebook he/she can get an even higher return.
What explains the massive jump in revenue over the past couple of months?
After about 1-2 years designing this product I had it sitting in my garage for about a little over 1 year because I was so busy with both of my offline companies. The beginning of this year is when I did a very light launch of my product around Feb then covid hit and I stopped the launch to focus on my offline companies. A round the end of summer my friend told me i’m sitting on gold and its the perfect time to relaunch my product because its Q4. When I relaunched around August I noticed my facebook ads was getting alot of of likes, comments, and shares then I started to slowly over the months scale.
How much time does it take to run the business, who else is needed on the team, and what is automated?
It’s a very simple business to run. All you have to do is respond to emails and fulfill orders. Most of your time will go toward fulfilling orders but I recommend hiring someone to do that are hire a fulfillment company like shipmonk to handle orders.
Can you list a few opportunities for a potential new owner to continue growing the business?
- Email list – I have thousands of subscribers and never utilized my list. I don’t think I ever sent out 1 email to subscribers this Q4. I recommend the new owner to definitely use this list to your advantage by sending emails regularly with coupons to add more revenue.
- Phone Number – I left alot of money on the table not from just emails but also not having a contact number for people to call and make orders. Some people are more comfortable talking to someone over the phone than placing orders online.
- Amazon – I think this product will sell great on amazon if you know how to sell on that platform.
- About us page and physical address – I recently noticed by talking to customers that some have been scammed in the past and afraid to order from online stores without a physical address and about us page I know adding these two things alone will add more revenue.
- Wholesaling – I have received 2 emails from offline store buyers asking me to wholesale my product but I never responded. This is another direction the new owner can take to add more revenue.