The eCommerce Brand in Ireland markets itself as providing a platform for Irish customers to avoid hidden fees. They work closely with their supplier to bring a range of products to Ireland without the added cost of taxes and fees. Their mission is to offer high quality products and home essential goods to the local Irish market.
With 300+ SKUs and a healthy average order value of $42, this business is built on a Shopify platform and has systems in place to maintain year-long sales. They use a dropshipping method and rely on their agent to source suppliers and factories. Their supplier also manages shipping, so there is no need for the company to hold inventory or worry about the logistics of shipping. The two employees focus on customer service, social media advertising, website management, and administrative tasks.
The supplier manages the shipping process, adding a branded feel to the business, and enhances the customer experience with a Thank You card included in every order. Products are shipped directly to the customer by the supplier, which mitigates the risk of holding inventory.
MARKETING AND KEY METRICS
The company primarily uses social media advertising to test products for their popularity. They also use Google ads and outsourced email marketing for revenue generation. They have over 50,000 email subscribers in their database and use newsletters to drive sales and web traffic. Finally, the company attracts visitors through superior SEO content and advertising efforts.
The company predicts that adding inventory in Europe and Ireland would reduce product cost and improve delivery time, as well as markedly increasing revenue. Hiring a social media manager would also improve their presence and conversion rates on these platforms.
The company sees 90,000+ unique visitors each month and has a high ROAS on Google ads (4.92). They have achieved a 30% revenue rate through email marketing and average around $1.3 million in gross income annually.
The company targets the Irish market, offering them products without hidden taxes and shipping fees. They attract visitors through superior SEO content, reliable supplier sources, and excellent customer service.
BUSINESS MODEL & RESOURCES NEEDED
The eCommerce Brand has a dedicated Customer Support Agent to handle email and social media communication with customers and a VA for Shopify website upkeep. They have a detailed training process for current and future staff members.
The eCommerce market in Ireland is growing, with increasing demand for online shopping. Major players in the industry include Amazon Ireland and IrishTimes.com, while sector specific eCommerce sites like Elverys.ie and Hollandandbarrett.ie are also popular. The market is expected to increase 7.6% per year between 2021 and 2028.
OPPORTUNITIES TO SCALE
Opportunities for expansion include adding inventory in Europe and Ireland, and hiring a social media manager to capture more customers through advertising. Testing more products and implementing proven strategies could lead to exponential growth in sales and profitability.
Asking Price: $1,000,000
Gross Income: $1,343,535
Cash Flow: $274,853
Year Established: 2021