Featured here is an incredibly profitable eCommerce business based in the new and growing technology of controllable LED lights. Take a moment to run through the listing with us in the video below and to hear a bit about the opportunity from the seller himself with the questions that follow.
Tell us a little about yourself, how did you get started with NeonBite? What exactly is NeonBite?
My name is Gary. I’m a 38 year old eCommerce entrepreneur from Ireland. I have been doing eCommerce for nearly 10 years now and I own a large portfolio of eCommerce stores as well as several physical businesses.
Neonbiteco sells Smart LED Lights that connect to all forms of smart devices, from Amazon Alexa & Google assist to your smart phone or Tablet. While the business is young, I have been able to use my experience as an eCommerce entrepreneur to optimize it quickly and it is already delivering stellar profit on great margins.
Where are your suppliers located? Is everything drop shipped from their location or do you work with fulfillment centers across the globe?
I have 2 fully vetted suppliers that have dedicated english speaking account managers and they dropship everything for us. They are located in China. It’s a great opportunity for anyone looking for a drop shipping company rather than holding inventory and managing shipments themselves.
I have also been exploring suppliers from non-Asian countries and have identified India & Europe as possible suppliers.
You note that this business is only 8 months old. How were you able to grow the company so quickly?
I specialize in Digital Marketing and have grown the business through PPC advertising on many platforms. Mainly social media platforms and of course, Google. All strategies will be included in the sale as well as all winning creatives and data.
You note that you’ve built a supportive team of VA’s. With them on the team, how much time are you personally spending each week on the business operations?
Yes I have built a team of 3 with one being a team leader. I have a weekly Skype meeting with her. This team will come along in the acquisition.
This combined with other small operational tasks amount to an approximately weekly personal input of between 5-7 hours. I’d be happy to extend operational insights to the new owner so that they can be set for success.
You’ve had quite a bit of success with your new advertising platform. Presumably the new owner will be able to learn this system and use it on other projects as well?
Yes most certainly I will train/mentor or instruct the buyer or their marketing manager on how to grow the business further or continue as it is. This will be included in the final price.
Your profit margins have recently exploded. Is this all a result of your new ad system or have other aspects of the product been scaled efficiently?
It’s primarily as a result of my new marketing strategy as I was able to decrease cost while scaling (which is very difficult 🙂
I have also arranged a special price with the supplier and they are happy to continue in this arrangement with the new owner.
Both of these strategies have increased margins greatly.
Are there any key skills that a new buyer would need in order to successfully run this business upon acquisition?
I would say not as I have a great team in place that can pretty much auto run the business. I am willing to train or teach the new buyer on running the business for an agreed period. I can dedicate an agreed amount of time per week/month in whatever format the buyer would like.
I’m not selling because I don’t have time, I’m selling as I’m undertaking an aggressive expansion drive on one of my physical businesses and require a capital injection for it.
Some bullet points:
- I’m willing to set an escrow milestone for total buyer peace of mind
- I am willing to refund the buyer if they wish to use your Flippa due diligence service for extra peace of mind.
- Investor pack created by my Chartered Accountant here in Ireland.
- Team in place to operate the business
- Willing to provide mentoring/training should the buyer require it for an agreed period.
- Lots of opportunity to increase profits in the existing business
- Mass Audience & Growing