Tell us a little about yourself. What’s your background? How did you start the business?
Studying biomedical science in the week and mountain biking on the weekend. It quickly became apparent there had to be a scientific solution to preventing water drops from ruining my GoPro footage. Six months later, I had a working prototype in my hand, and an ambition to revolutionise the action camera lens.
As an e-Commerce business, where are your products made?
Materials sourced from Japan, products assembled in China.
How have you marketed the product and where are your customers originating from?
We are very proud of our organic sales (= 39.73%). These originate from our free sample program which has built up a large portfolio of youtube reviews, blogs posts.
Facebook ads have been the largest generator of revenue for us with a ROAS for the year of 2.89 and over 4mil video views.
Word of mouth and affiliate marketing has been fundamental also.
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?
I would routinely spend on average 7 hours a week. This included a lot of brainstorming!
What does someone need to do to continue operating the business in its current form?
Maintain inventory, test and run ads. For growth, we would also be thinking of different niches and products our technology can branch into/chasing up bespoke clients.
Can you list a few opportunities for a potential new owner to continue growing the business?
Customers regularly ask for a liquid suitable for sunglasses, motorbike visors, goggles, other cameras/phones. We also had some huge bespoke clients but lacked the resources to follow up. These included infrared cameras on trains/robots/mining equipment. (we found a manufacturer that can make these).
The application of this technology is limitless. Yes, we have focused on the GoPro market, but this brand is certainly not limited to this niche in the future.
What has been the evolution of this asset since its launch?
We built a product that improved the GoPro and cemented itself in the GoPro community.
How does this business make money? What are the current revenue streams?
With a product that solves a problem, but with a relatively low purchase price (for GoPro accessories at least!) we utilise impulse buying in our ads. From there we have designed other accompanying products perfect as upsell/down-sell.
When new a new GoPro is released we take advantage of our 18k email list. (It’s very common for our customers to own every GoPro!).
Facebook ads keep our cogs turning, but are accompanied by an affiliate program that encourages youtube reviews and blog posts that continually bring customers.
The problem of water drops is huge in the GoPro community so we also acquire a lot of customers directly through SEO.
What marketing channels are most profitable for the business?
Facebook ads, Youtube reviews and ads.
How does the business currently acquire customers and what is your breakdown for marketing costs?
Advertising Campaign 2020:
We achieved 4,445,969 video plays,
We spent: £14,449 to generate: £41,692.55 giving an average ROAS for the year of 2.89,
(Average: £7.19 CPP mainly cold audience this year, AOV: £24),
Of which 538,929 with 100% views (all videos 15 to 30 seconds).
How big is your current team? How many people does it take to run this business?
Me, VA for customer service, outsourced warehouse team. We also outsource a lot of design work and marketing material.
What’s the reason for selling your business on Flippa?
As previously mentioned my other passion is biomedical science. I have been crucial in setting up the covid response across NHS Highland. This has rightfully taken priority in my life. Despite having my most profitable year yet, I have made the decision to focus my skills on my role in the NHS. I will still offer my full support for 6 months to assist the transition. I hope to pass this on to someone who will continue to grow it and give it the focus it deserves.