Website Closers® presents an incredibly lucrative opportunity for an ambitious buyer. The flagship patented product solves the problem of rust and clumps in leftover paint and stores it for over ten years with a silicone seal, extra threads, and a uniquely designed blending sphere for rapid mixing. Other paint products have built out the brand and make for expanded carts on Amazon and the website. The company is also providing Walmart sidekick displays with these additional products. The longer-term goal is to fill a section within retail locations providing various paint solutions.
Their secondary line of food preserving containers is ideal for grocery placement and private label within Costco as well as various donut, bagel, and pastry locations around the world. The bacon grease pouch has recently been introduced and attracted the interest of big-box retailers.
The first invention, the ingenious paint storage and blending cup, is the company’s top-selling product and is offered in an individual, two-pack, and three-pack. The three SKUs make up 80% of annual sales, but management is strategically shifting this concentration by introducing additional products of the same brand and marketing their other six SKUs.
eCommerce accounts for 28% of revenue now, while wholesale makes up the remaining 72%. Both channels are primed for explosive growth. 95% of that eCommerce income is made through Amazon, and the company has hired a top agency to increase sales through keyword research and PPC advertising. Orders on the eCommerce giant surpass 100 per day and are expected to double in the next year. Online sales enjoy an Average Order Value of $23.69, with high-profit margins, while retail sales vary in the region of $700,000.
The company is projected to sell 500,000 units to retail this year as most all major retailers are showing immense interest since the featured episode on Shark Tank. Growth opportunities are endless. Home Depot, Ace Hardware, True Value, Menard’s, DoIt Best, PPG, and Sherwin Williams are viable outlets and make up another 23,000 conceivable locations. The company estimates 50,000 potential worldwide locations for the paint accessory brand and another 30,000 for its food storage lines.
The brand sources all products from China, which are manufactured specifically for them, and they own the rights and patents. All products are stocked with a 3PL in Cincinnati and inventory on hand for D2C sales, FBA, and Lowe’s and Walmart. In addition, Canadian Tire is provided PO’s FOB China. Most of the products are under the company’s branding, with the exception of a private label to Canadian Tire, but the company maintains ownership of the patent.
The existing business owners operate as a two-person crew, and projections suggest that an investor with capital and a team with the necessary expertise could scale the enterprise tremendously.
The owners endure a varying workload. The two roles, sales and operations, involve managing all aspects of the business, including sales to new retail outlets, overseeing Amazon, inventory control, quality control, shipping and logistics, managing current accounts, and customer service. They utilize contractors for graphic design, packaging, and Amazon strategy.
Scale opportunities include optimizing Amazon, organic growth within current retail partners, and securing additional large retail outlets. In addition, the fantastic opportunity to continue using the Shark Tank logos and “As Seen on Shark Tank” with the licenses they have in place is a significant contributor to their credibility and marketing efforts. They could also hire a social media manager and spread brand awareness through popular sites like Instagram, Facebook, and Pinterest.
The ability to capitalize on Shark Tank association through these channels would likely create extensive interest in the products, particularly from potential customers unaware of the brand.
The owners have built a brand from a one-concept product into a multi-million-dollar company with nine products. A potential buyer has a tremendous opportunity to grow the online portion of the business and expand the 6,000 retail locations already secured.
The brand has surpassed all expectations with Walmart and Lowe’s in regional tests and has subsequently been awarded all Walmart and Lowe’s locations. The main products are patented, and retail is taking note of the brand and allowing additional products into stores. In the right hands, this company is poised to grow to over $50 million in the next five years! Contact Website Closers to learn more about this unique offer, which is likely to sell before the paint dries.
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