Reluctantly, due to limitations on my time at present, I have decided to sell our family online personalised gift store based in the UK.
I have spent the past 4 years building the business up from nothing to the successful store we are today. A small established brand with around 700 fully personalised products on offer.
Our conversion rate is well above the industry average and our cart abandonment rate is significantly below other ecommerce companies. This is largely down to our very well designed website and our high quality products/service!
We have established an email list over around 3000 and a further 3000 followers on our Facebook page. We have taken over 4000 orders over the past few years and have an average customer satisfaction rating of 4.8 out of 5 stars based on over 600 genuine reviews.
We operate on a dropshipping business model meaning that there is no stock for us to carry. All orders are passed on to our suppliers who take care of everything from there. We work closely with 5 carefully chosen suppliers, all based in the UK, and all of whom provide the high standards of product and service that is essential to be successful these days.
It would be ideal purchase for anyone looking to enter the ecommerce business but who is not sure where to start and doesn’t want to start of from scratch. All the tricky technical aspects are already in place. The store runs very smoothly as do a number of vital apps that have been integrated in to the shop to improve functionality and customer experience.
I would also be happy to provide as much education as necessary to handover to any prospective new owners. Even though I'm selling, I would like to think it would be in good hands and continue to grow going forward.
Financials and traffic
The business has made a net profit for the last two years (2.5% and 5% respectively). Profit is steadily improving, but to be honest, I no longer have the time to continue the improvement.
Average overall profit margin
Average number of sales/month
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The business can be operated from anywhere remotely (via an internet connection) and would only require a part time resource to keep it running. The sale include everything needed to run the business including:
Graphics and images.
It is very easy to ramp the business up and down according to your available time and budget. The more effort you out in the greater the rewards.
How can the future owner improve the business?
My suggestions and indeed planned next steps would be to improve the marketing and advertising. Sales could be massive on Facebook and Instagram with the correct customer targeting (probably the area I have struggled most with).
We can ship most gifts all over the world and have had orders from many different countries. However, we have never marketed outside of the UK before, so this could be a big opportunity!
There are also a lot more improvements to be made in getting more returning sales from existing customer base (e.g. segmented email lists)
What work have you put into the store?
So many hours that I cannot count! It has been my full time business for the past 4 years and a LOT of effort has been put in to making a very slick, user friendly store and maintaining best in industry levels of customer satisfaction!
How many hours does it take to run this business per week?