+ $10,000 Inventory
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Facts and Figures
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Note: Traffic data was provided on 30 July 2019. Enquire for more recent data.
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.
- 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
- Amazon PPC
- Email Marketing
- Google Adwords
- Brand assets
- Contracts (written or verbal) with customers and suppliers
- Customer databases
- Inventory on hand or on order at the time of closing
- Registered trademarks
- Social media accounts
- e-Commerce platform accounts
Post sale support
This is support provided by the seller when transitioning the business to a buyer.