Website Closers® presents an eCommerce Brand in the Mobility Products niche, primarily electric wheelchairs. The market is large and increasing, as powered wheelchairs are helpful for patients suffering from severe mobility disorders and neurological conditions that hamper their daily lives. Electric wheelchairs are gaining popularity because of their benefits, such as ease of use, convenience, and unproblematic usage. They are often used by patients who cannot use manual wheelchairs or users who want to cover longer distances in wheelchairs.
The company’s results are staggering – with a 10X increase in sales and earnings over the TTM, and another 2X planned for the balance of the 2022 Fiscal Year. This massive rise in sales and earnings is happening in an otherwise difficult year for many other eCommerce companies in this segment given the current economic climate – that spells big future growth for this titan for many years to come.
Besides electric wheelchairs, the company also offers Folding Mobility Scooters, Standard Portable Wheelchairs and Standard Aluminum Folding Wheelchairs. They also offer accessories, including Headrests, Cup Holders and Baskets.
Operations are incredibly lean and entirely run by one full-time rep who manages sales and customer service. Fractional services are required for warehousing, call center, and bookkeeping. Overall, this lean and profitable business is ready for more growth in the B2B and D2C arenas.
Products are sourced from a private manufacturer who custom makes the products for this business with the company logo, customized manual and packaging. All orders are shipped from a 3PL in the US. A total of $100,000 to $120,000 in inventory is maintained at any moment. No stock is stored at the manufacturer. The manufacturing turnaround time is swift, and no payments are made before orders ship from China. Now that shipping rates are coming down, they will transition into single 20ft. container shipments for convenience and order monthly. This should also lower the overall landed cost of the products. No minimum order quantity from the manufacturer has allowed management to order inventory on a much more frequent basis.
Sales are primarily generated through a Shopify Website, with a recently launched Amazon storefront making up the remainder. There is enormous room for growth on Amazon, and a focused strategy to boost the brand could double or triple revenue quickly. International markets are also areas to further scale the business, through Amazon and other 3PL services.
The typical customer is an older consumer with mobility needs that tends to come back for accessories for their chairs. The owner works only three to four hours weekly, focusing primarily on placing inventory orders, managing ads, and responding to employee questions. He also looks at utilizing B2B distributors and expanding growth opportunities like Amazon.
A customer service and sales rep handles the day-to-day business operations. Contractors are used for advertising, logistics, the call center, and bookkeeping.
Lead generation is driven by strategic Facebook, Google and Microsoft Ads. The company has consistently witnessed a 13X return on ad spend. As successful as the business is, they have yet to tap into email marketing opportunities, affiliate marketing, or wholesale. All options have shown a great return on investment with focused campaigns and work wonderfully in this market segment. Over the past two years, this brand has benefited considerably from its fast-growing customer base, and the company has enormous growth options as they look to the future.
Besides an expanded product line, launching on popular eCommerce sites such as Amazon (recently launched) and Walmart would introduce their SKUs to millions of new customers. The brand has a similarly prosperous option of establishing a wholesale program that markets its SKUs directly to the facilities where the target market lies. Each option would take this already profitable and successful business to new heights.
This business has the history, systems, customer base, and service values that consumers love and appreciate. The company’s operation is simple and easy to learn because of practical and manageable processes. Management has systemized the business well, making it an exciting acquisition for new owners who can enjoy the benefits of a turnkey business or focus on vast expansion in a multitude of ways, depending on their expertise.
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