Website Closers® presents an eCommerce Brand that provides stylish and high-quality Apple® Watch compatible straps and accessories to customers worldwide. The range of products includes metal, silicone, and leather straps and covers various colors and styles.
The products are currently only offered DTC via their Branded Websites, so there is tremendous upside to adding various marketplaces, including Amazon and Walmart to their sales channel mix.
One of the key features of the watch straps is that they are easy to adjust, with a help section on the website to assist customers with the process. Management understands the importance of finding a watch strap that fits comfortably and securely; they strive to make this process as easy as possible for customers.
In addition to the core product line, the brand is constantly looking for ways to improve and expand its offering through product testing.
The website also includes information about the brand and its products, as well as customer reviews. To increase sales, the business works with a conversion rate optimization agency which has proven fruitful. The partnership involves testing different website elements to see what works best. In addition, the team uses a variety of marketing strategies, such as structured email campaigns and paid media advertising, to drive traffic to the website and convert that traffic into paying customers.
Products are sourced with the assistance of a Chinese sourcing agent who has over ten years of experience in logistics, fulfillment, and sourcing. She has proven to be a precious asset to the business in many operational aspects. Her wealth of knowledge and expertise will significantly benefit any potential buyer and lighten their workload.
The brand utilizes a hybrid inventory model. Physical stock of established products is maintained at distribution facilities, while DropShipping is used for testing new products. As soon as a SKU begins selling well, it is stocked in the company warehouses. This allows the brand to meet product demand better and provide customers with faster shipping times. 10% of inventory is stored in China and 5% in the US, totaling between $10,000 and $15,000.
The partners also own the fulfillment center that provides their brand and other eCommerce brands with a range of services. A buyer interested in acquiring this business can keep the fulfillment center service as part of the deal.
Only the best materials are used to ensure top product quality, and each watch strap is thoroughly tested. The company has a warehouse in Asia and works with a third-party logistics provider in the US to handle the fulfillment and shipping of orders. On average, 250 shipments are made daily between the two facilities. This enables management to focus on growing the business.
The business experiences little seasonality in sales besides the standard industry peak during the holiday season.
Digital marketing primarily encompasses Google and Facebook Ads. The brand has recently witnessed a significant increase in sales through its Instagram efforts with a social media manager. Posting content regularly and consistently has created a snowball effect, and the team can now capitalize on user engagement.
Emphasis is put on creating quality content, promoting user-generated content, and professional photography. The team is currently testing between 10 and 20 creatives weekly on Facebook and Instagram, combining images and videos to improve the return on ad spend.
An ambassador program is also proving successful, with a 20% commission paid on sales made.
The typical customer is a middle-aged, affluent woman who wants to personalize and accessorize her Apple® Watch with stylish and modern straps. She usually purchases several products to match different outfits or to suit different occasions and is willing to pay a premium for high-quality, fashionable items.
The owners focus primarily on marketing, website maintenance, logistics, product identification, order management, company management, and hiring.
The business has a full-time, in-house team for customer support. 1 team leader + 2 agents. We also have a FT UGC manager. Content creators work as contractors on a per-project basis.
Three agencies are used for conversion rate optimization, Google Ads, and customer support.
Warehouse order fulfillment, product sourcing, and quality control are performed by the sourcing agent and 3PL, respectively.
As successful as this business is, various methods are readily available to significantly scale the top and bottom lines. The acquisition opportunity is ideal for an ambitious new owner to maximize its potential and enjoy a swift and substantial return on investment.
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