High Margin Fast Growing Fashion Products to Customize Your Shopping Bags – $84 AOV

Asking Price:
$198,000
Sales:
$134,352
Profit:
$73,346
Year Established:
2020
Multiplier:
2.7x

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A SellerForce offering, this innovative young business in consumer products can turn your everyday shopping and carrying bag into a chic tote, purse or handbag! For the Do-It-Yourself lover or customer who wants the ability to reuse those designer shopping bags, the company offers the ability to create memories and adding value to everything you own – including reusable paper bags. The company offers the first DIY tote kit in the US complete with accessories and add-ons. Image all your bags and purses reworked, restyled, and up cycled into the ones you’ve always wanted.

The company has a fantastic average order value of over $84, with over 38 products available for sale on their website. All products are sold through their website and dropship directly from the factory. The model requires no inventory for a new owner to carry. The company introduced a new and fun way to repurpose bags at home – specifically shopping paper bags and dust bags. Customers receive a DIY tool kit that has the vinyl cover (some may be leather pieces), bag handles and required tools. Accessories are also offered as an extra add-on option, to match with their DIY totes.

The ideal customer for this product is a someone who likes to look and feel rich, clever and fashion forward, without breaking the bank. Most customers are generated through Instagram marketing and other social media driven advertising content. Many customers love to use social media for fashion discovery, product inspiration and letting others know how responsible they are being to the environment through reuse.

New opportunities are abundant for a new owner. There are multiple platforms that products can be expanded to, such as Amazon, FB Marketplace, Pinterest, LinkedIn, and Tumblr, amongst others. Marketing and advertising can also be pushed to other platforms outside of Instagram, generating more customers and revenue for the company. The company is the only one in the space that provides accessories along with the DIY tote bag. There are several opportunities for a new owner to expand the accessories to upsell customers into other products, to include utilizing a sustainability angle to make a customer feel even better about their product purchase.

There are currently 3 owners for the business. The current owners spend a total of 7-10 hours weekly maintaining the website, earning between $5-10k monthly. The primary tasks of the business owners include monitoring order status and customer inquiries, maintaining the website and social media, and communicating with vendor/fulfillment partners. Customer service could be easily outsourced and comes with an average of 3-5 emails and a coupled of Instagram DMs per day. The most challenging task would be to reach out and expand influencers and social media marketing.

Alongside the excellent sustainable DIY products, the company also has a Instagram following of 17.2k followers to help expand products.

Listing ID: SF82

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