Website Closers® presents an eCommerce business in the LED Lighted Vanity Mirrors and Medicine Cabinets vertical. These products add a sense of luxury to bathrooms that would be hard pressed to find at such affordable prices. The business enjoys 39% margins, a 35% Repeat Order Rate, and an Average Order Value of $820. The brand also exists within a market that has witnessed rising demand as more consumers renovate their homes to either sell or prepare for short term rentals, giving this already flourishing company the perfect opportunity to skyrocket with the industry.
The company has 113 branded, unique SKUs at the moment, all of which are high-quality and built to offer customers the same lavish experience that it offers the 5-star hotels, spas, and makeup studios that their products are also installed within. The brand offers a wide variety of mirror shapes and sizes for customers to choose from. They are built with an anodized aluminum frame with a separate mirror for easy installation – the LED lights promise to last roughly 50,000 hours of use. They even offer custom upgrades for people who enjoy color lighting, dimming solutions, and other fixings, meaning there’s something to suit everyone’s tastes.
The brand has managed to gather a large and loyal customer base within a short amount of time. Their website has a monthly visitor rate of over 15,000, indicating that not only do they see large purchases from a fair number of consumers, but those same consumers often come back for repeat purchases.
This is spurred on by the fact that many customers are commercial contractors and interior decorators, who are prone to buying such products in bulk.
They also have a strong presence on several social media platforms, with 7,000 followers on Facebook. They have seen their highest popularity on Pinterest, where they have an astounding 1.2 million views per month on their page.
The fact that these platforms are heavily centered around sharing photos plays to the brand’s advantage, as it helps customers visualize what the products might look like in their own home and dream remodels. They also engage with their customers by encouraging them to send photos of their installed mirrors and cabinets in their homes, then posting the photos on their social channels. This works to their advantage in a few ways, as it makes their current customers feel recognized, and gives prospective customers more examples of how the products look outside of professional images. The brand could cultivate this popularity by increasing their engagement on Pinterest along with Instagram, another heavily photo-based platform. They could also do video marketing on YouTube and TikTok, which would let them show the products from different angles and demonstrate how useful their functions really are.
The brand has great diversity among its sales channels. Though most of its sales are Direct to Consumer on its Shopify website, they have expanded to well-known online retail platforms such as Amazon, Walmart, and eBay. There is room for further scale here if a buyer expands into secondary online markets such as Houzz, Wayfair, and Home Depot, which would make the products more accessible to a wider audience.
They could also improve promotions and PPC advertisements on Amazon, which, given the sheer size of the platform, would bring even more attention on a platform that’s used by many people today.
They would benefit further by building marketing toward the commercial reseller market. Contractors and decorators are the ones responsible for most of the company’s bulk purchases, as they’re willing to put more money into a home for a better overall product for their clients. The company could capitalize this by posting ads on DIY and commercial contractor websites, showcasing how much their products could improve a home. They could also put more emphasis on reviews from companies over individual customers in these advertisements, to assert their appeal in a professional setting.
Additionally, the company’s already expansive SKU line could be built upon by incorporating other products that align with the bathroom remodeling industry – including other parts of the home. These could include sinks, faucets, and shower attachments, which would make the brand an even stronger source for contractors, designers, and individuals alike to turn to for decorating purposes.
A significant perk of this acquisition is that it fills a niche within the thriving U.S. real estate market. In 2020, the home furnishings industry reached $115 billion, and is expected to grow even further at a CAGR of 4% to $120 billion this year.
The niche field of bathroom mirrors has also been doing exceptionally well, currently valuing at $649.3 million and expected to reach a stunning $995.9 million by 2026.
All the company’s products and packaging are sourced from a single vendor, and are manufactured exclusively for them, as well as customized to their unique design specs. Thanks to their brilliant on-site warehouse group and customer service team, the products are then shipped out from their warehouse at a rate up to 40 mirrors per day, meaning that they don’t have to worry about relying on drop shipping or fulfillment centers.
The current owner works between 2 and 30 hours per week, depending on whether they’re involved in a project or offering CEO insight.
Much of the work is done by the brand’s capable full-time team, which consists of an operations manager, a customer service representative, and six warehouse workers. There remains plenty of flexibility for the buyer’s workload and can be adjusted further depending on new staff that is brought on.
With more Americans by the day developing an interest in the real estate market, products having to do with remodeling and improving homes are guaranteed to enjoy incredible success. For this brand, their customers range from both individuals looking to better their home for themselves and their families, to people hoping to sell their homes, to professionals needing to put forth the best possible offering they can for their clients.
As such, luxury products like the sort that this business offers will see no shortage of demand. It has an unimaginable amount of scale potential that, if taken, will cause it to catapult to new heights in such a prosperous market. If you’d like to hear more about this wonderful opportunity, contact Website Closers today to hear more.
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