Flippa
FOR SALE
Business Name

Confidential

Business Model
e-Commerce
Industry
Home and Garden

$249,999

Asking Price

+ $10,000 Inventory

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Art Cove has been selling arts & craft supplies for almost 50 years now and online since 1999. We sell on www.artcove.com and on marketplaces such as Amazon, eBay, Walmart, Etsy,
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Facts and Figures

Location
United States
Date of Founding
1999
Full-Time Staff
1 to 10
Annual Revenue
$431,526
Annual Expenses
$526,377
Annual Net Profit
-$94,851
Profit and Loss
Evidence of Revenue
Note: Where the business is less than 12 months old the annualized data represents total sales for the period of operation.

Recent Performance

Month April 2019 May 2019 June 2019
Revenue $35,692 $30,725 $32,334
Expenses $40,312 $36,295 $28,945
Net Profit -$4,620 -$5,570 $3,389
Month May 2019 June 2019 July 2019
Pageviews 25,834 22,352 18,337
Users 5,369 4,972 4,509

Note: Traffic data was provided on 30 July 2019. Enquire for more recent data.

Business Description

Art Cove has been selling arts & craft supplies for almost 50 years now and online since 1999. We sell on www.artcove.com and sell on marketplaces such as Amazon, eBay, Walmart, Esty & shopify (which gives us the ability to sell on Facebook and Google Shopping). Our website www.artcove.com carries over 6,500 items and a large majority of these items are unique products that many large craft stores do not carry.

How does your business make money?

We are an ecommerce company which has a website and sells on five marketplaces (amazon, ebay, walmart, etsy, shopify ) that generate revenue

Why should someone buy this business?

We have been in the business almost fifty years and selling online since 1999 so we have a trusted name in the field. We have a niche market (arts & crafts) with lot of unique products that only we carry which gives our company website a huge boost. We have long term relationships with suppliers that come with benefits and deep discounts. Selling on several marketplaces gives you several streams of income and broad exposure. We use several softwares to automate the process so that you can focus on working on your business and not in your business. The business has lost money over the last two years but that was expected because we have been focused on long term growth, plus adding new products and new marketplaces. Revenue history: 2014 $141,837 (Website), 2015 $209,652 (Website & eBay), 2016 $284,784 (Website, Amazon, eBay), 2017 $394,593 (Website, Amazon, eBay), 2018 $430,000 (Website, amazon, eBay, Walmart, Esty, shopify Store). From 2014 to 2018 we have grown 204% in revenue.

How can the future owner improve this business?

I would have not fulfilled things myself but sent my items to amazon FBA (People want fast and cheap delivery)
Focusing on my items with higher profit margins and dropping products with lower profit margins (avoiding the race to the bottom most marketplace sellers are in)
Not selling products on marketplaces for less than $10. (Realized that the sweat spot is making about $3 per order)
I carried too many products (less is more)
I had too many vendors. I would cut down to 3 or 4 vendors tops.
I would have asked some of my vendors to drop ship
I would have got more items from china instead of vendors for better prices
I would not list products unto the website and marketplaces one by one but in bulk
I would spend more time focusing on my website and marketing to my customer base
I would have hired a marketing & SEO company

Why are you selling this business?

This is a family owned business which reaches back 3 generations and almost 50 years. I have been involved with the business my whole life but 3 years ago I took over as the owner of the business for my father who still works with the business part time. In this time I realized that I was doing this for him but deep down inside this is not what I want to do with the rest of my life. Moreover, I do not have a formal business education and doubt I am the one to take this business to the next level. I have decided recently that I am going to change careers and become an ordained minister.

Business Strengths

  • Key Words Ranking
  • Brand and Community Loyalty
  • High levels of Automation
  • Large Customer Database
  • Scalable Business Model

Opportunities for a new owner

  • Start Selling into New Markets
  • Capitalise on the Emerging Market
  • Introduce Further Revenue Streams

Key day-to-day operations

  • Managing Staff
  • Customer Support / Service
  • Launching New Products
  • Supplier Relationship Management
  • Website Maintenance

Marketing

  • Amazon PPC
  • Email Marketing
  • Google Adwords

Inventory

Value
$10,000

Assets

  • Brand assets
  • Contracts (written or verbal) with customers and suppliers
  • Customer databases
  • Domains
  • Inventory on hand or on order at the time of closing
  • Registered trademarks
  • Social media accounts
  • e-Commerce platform accounts

Social Media

Facebook
1.5K followers
Twitter
72 followers
Instagram
61 followers

Post sale support

This is support provided by the seller when transitioning the business to a buyer.

Included

Confidential

Verified Account

United States