Tell us a little about yourself. What’s your background? How did you start the business?
I’m Mark, 23 years old from Ireland. I started my first online store back in March 2015 on Shopify when I was 16 years old. It was in the video game niche. I scaled that to a six-figure business before the age of 18. That store was short-lived as I was only selling one product for a hot video game, which lost popularity after a couple of years. So after closing that store, I applied for a job at Shopify and joined them.
I spent six months as a Shopify employee before starting this business with my partner. I seen how many people needed basic help with their stores and decided to set up an agency that helps clients set up premium online stores.
I then left Shopify to pursue this service-based business. Fast forward to today, we’re now doing over 7 figures in revenue and growing every year.
As an e-Commerce business, where are your products made?
We run a service-based business. Our amazing team build websites for our clients.
How have you marketed the product and where are your customers originating from?
We’ve primarily used Facebook ads as our main customer acquisition channel. We also have some organic search sales.
Is the asset on your listing owner-operated, how much time does it take to run the business, who else is needed on the team, and what is automated?
The asset is 99% outsourced. I currently run Facebook ads to acquire customers. However, all the day to day operations is completely taken care of by our experienced remote team.
I currently work less than 20 hours per week. You could hire an ad agency to further reduce the workload.
What does someone need to do to continue operating the business in its current form?
– Run Facebook Ads
– Send Occasional Klaviyo Email
Or hire someone to take care of these tasks.
Can you list a few opportunities for a potential new owner to continue growing the business?
Our goal for the next 12 months is to focus on the Monthly Recurring Revenue arm of the business. We partnered with a couple of other SAAS products and negotiated a nice commission for every referral. Our current MRR is around $13k/mo and this is growing month on month.
Running other traffic sources like YouTube ads, TikTok ads, LinkedIn ads etc is also highly recommended. We literally only run Facebook at the minute which is foolish. We’re leaving a lot of money on the table by not diversifying our spending across multiple channels.
How does this business make money? What are the current revenue streams?
What marketing channels are most profitable for the business?
Facebook Ads (which includes Instagram)
How does the business currently acquire customers and what is your breakdown for marketing costs?
Facebook ads & this is broken down in the P&L sheet. It differs every month
How big is your current team? How many people does it take to run this business?
Currently 24 full time. We increased the size of our team when we didn’t necessarily need to in August 2020. The idea behind investing and over hiring was to train our employees so that we could handle the order volumes and fulfil efficiently when we scaled our marketing in a few months.
We could let go of more people to save money but that’s not what we’re interested in. We’d rather have a larger team and efficiently complete orders than have a smaller team and be overwhelmed.
What’s the reason for selling your business on Flippa?
I’m already familiar with the platform and have super seller status here on flippa. We would prefer to talk to interested buyers directly than work with a broker.
Our goal for this business was to become a 7 figure business. After 3 years, my business partner and I now think it’s time to move on and focus on other business opportunities. In my opinion, I don’t think this business will ever be a $100m+ business and that is our next goal!