Website Closers® presents an innovative and streamlined technology platform tailored for purchasing and selling high-end commodities such as art, watches, jewelry, automobiles, boats, and various other luxury items.
Business Broker Takeaway
Our analysis of this business shows that the value propositions present are strong for a buyer looking to enter this lucrative online space. We are excited about this business for 3 important reasons:
- Catering primarily to a discerning clientele of means who prioritize discretion and confidentiality, the company sets itself apart by exclusively offering certain items with a minimum value of $1,000.
- In its commitment to ensuring the highest levels of security and authenticity, the platform meticulously verifies the identities of both buyers and sellers. This process entails the validation of a PayPal account in conjunction with a linked bank account. Importantly, no personal information is divulged to external parties. Instead, individuals are referred to solely by a randomly generated user ID, safeguarding their privacy and anonymity.
- The company has implemented a minimal seller commission and buyer premium, which is highly attractive to all parties. Furthermore, it generates supplementary revenue through shipping, handling, and specialized services fees. Sellers receive prompt payment via wire transfer, while buyers benefit from the assurance of their purchased items being shipped via a secure and insured express carrier. In doing so, the business reduces the financial burden and time investment for all.
Revenue Generation
The company derives revenue from four primary sources:
Sales Commission: It levies a 6% seller commission and a 6% buyer premium on the gross sales price. Additionally, sellers are responsible for fees associated with insurance, storage, preparation, and other industry-standard services.
Concierge Services: This facilitates the sales process by securing escrow funds, covering expenses related to the transaction, transferring funds to the seller, and arranging the shipment of the item to the buyer. Moreover, an expert is engaged to compile a comprehensive report for the buyer detailing the item’s identification, description, condition, authentication, and value. Buyers incur charges for the concierge report, shipping and handling, and any additional requested services. These fees are typically paid upfront using the escrow funds.
Advertising Revenue: Management anticipates generating advertising revenue from luxury brands seeking to reach affluent clientele, including esteemed names like The Ritz Carlton®, Rolex®, and Louis Vuitton®.
Interest: The company earns interest on escrow funds, contributing to its revenue stream.
Management Team and IT
The business boasts a seasoned management team with a proven track record of success. Their past endeavors culminated in the growth of a previous business to $50 million in sales, with a robust presence spanning over 4,000 retail outlets. Their expertise equips them aptly to implement this model effectively.
The primary domain has been duly registered and trademarked. Additionally, all software and applications are safeguarded by copyright, and the personalized contact number features the company’s name. Furthermore, its app is accessible on both the Apple Store® and Google Play®.
Unique Services
Clients are offered several specialized services designed to ensure seamless transactions and enhanced security:
1.Premier Concierge: This service stands as the pinnacle, orchestrating transactions and communication between buyers and sellers while preserving anonymity, authenticity, and prompt payment through a secure platform. Each sale is assigned a personal concierge, acting as an intermediary to manage offers, information requests, inquiries, and correspondence between parties. Upon agreement of price and terms, the concierge oversees various critical tasks:
- Facilitating the receipt of the bank wire for the purchase and associated fees held in escrow.
- Managing the physical transfer of the item unless alternate arrangements have been made between the buyer and seller.
- Compiling an assessment report concerning the item’s authenticity, value, and condition for the buyer’s assurance.
- Concluding the sale upon final approval from both buyer and seller.
- Effectuating payment to the seller and arranging the shipment of the item to the buyer via a fully insured and secured carrier.
2. Authentication Guarantee: Items undergo authentication by bonded and insured experts. If a sold item deviates from its description, the company pledges to refund the purchase price along with an additional 10% of its value.
3. Price Protection: The business commits to refunding the price difference plus an additional 10% if an identical item is found elsewhere at a lower price.
4. Only site offering loans to buyers and sellers
Once the company secures additional funding and finds a partner through this initial exit process, it will enlist the expertise of a seasoned social media team to bolster all marketing and promotional endeavors. The team has also engaged a reputable New York-based PR firm. An initial media blitz has been initiated, resulting in coverage by over 80 media outlets and featuring press releases and images. Consequently, the company’s website has soared to the top of Google® rankings.
Outlook
The burgeoning online resale sector, known as “reCommerce,” is currently one of the most dynamic markets, marked by a flurry of IPO activity. Moreover, the company’s adept management team possesses ambitious plans for significant expansion, outlined in a clear and comprehensive roadmap. Potential buyers or investors Outlook stand to gain substantial returns on their investments.
