Woodworking eCom Selling Tools & Accessories

Relocatable, NA


Asking Price: Annual Revenue:
$470,000 $987,023

Retail: E-Commerce, Retail Websites


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RE: Woodworking eCom Selling Tools & Accessories Broker: Ron Matheson
Owner Financing is Available!
Negotiable

Quick Facts

Asking Price: $470,000
Annual Revenue: $987,023
Net Profit: Not Disclosed
Cash Flow: $157,924
Total Debt: Not Disclosed
FF&E: Not Disclosed
Real Estate: Not Disclosed
Year Established: 2019
Employees: 6
BBN Listing #: 224659418
Broker Reference #: WC2422

Email or Print Listing

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Business Overview:

Website Closers® presents a hands-on eCommerce company that has tapped into the passion many consumers have for woodworking. Giving these highly engaged and loyal customers the tools needed to get the job done more efficiently, this company has achieved rampant success by connecting deeply with their target audience using a Direct-to-Consumer model via their Modern, Branded Shopify Website.

This company is operating in an exceptionally vibrant market. Woodworking tools, from large machinery to handheld devices, are used by a large and growing customer base, from businesses large and small that manufacture essential products to individuals who enjoy the pleasures of being in their own home-based woodworking shop. The booming housing market is contributing significantly to the growth of this industry, with rising housing construction on one hand and an expanded level of home renovation activities projected to bolster future demand for woodworking tools. For this company, the timing is perfect.

Launched on a Shopify platform, this eCommerce website markets tools and gadgets targeted mainly to people who love doing projects on their own (Do-it-yourself, or DYI). As the company’s customer base has expanded to 12,615, those with a passion for DIY and home crafting have become the main customer base. That being said, sales have only touched the surface of where they can go, especially if the company branched into additional online marketplaces, wholesale, and B2B.

Their highly passionate and energetic community has helped the brand to scale rapidly. In fact, they now market 80+ products, which offer an average order value of $61.60. The products are diverse, ranging from clamp sets to customized cordless engraving pens and self-centering drill bits.

Their products are sourced from manufacturers in China; however, the company has made their SKUs unique through customizations and add-ons to the products that greatly improve quality. The business relies on an effective dropship model for fast shipping and processing, with the supplier sending products directly to customers.

While business has seen steady demand, sales picked up considerably in the fourth quarter of 2020. September through April turned out to be the most profitable yet for this company. Earning more and more every day, their initial average order value was $49.95, which has risen to $51.21 thanks to strategic upsells as new products are added to the SKU line. The company leveraged their social media accounts on Instagram where they have 4,100+ followers and Facebook, which carries 1,400+ followers, to introduce their products to the right customers and drive organic traffic to their website. They also run PPC ads on both sites for retargeting and expanded reach.

More recently, the brand started utilizing an influencer marketing campaign where they send free products to key players within the DIY social media universe, in exchange for video content, testimonials, and reviews. This also gives their influencers a discount code.

Email marketing has played a major part in this brand’s success as well. The company has a newsletter they send out to their 17,677 email subscribers, email marketing has also been important for product launches.

Additionally, their SEO program drives ample organic traffic to their website. The brand has an educational blog on the website that offers DIY tips on everything from how to build a dining chair to woodworking gift ideas for Father’s Day. These blogs are effectively used to attract prospective buyers and can be expanded upon greatly. The company has also invested in buying backlinks to gain more online authority. These programs are working, and the company now enjoys 81,700+ monthly visits to their site.

Their customer base is getting larger, and 7% of sales are now from repeat customers, and those numbers are increasing. Their demographics are focused on men, which make up 70% of customers, with the typical buyer being 40 or older. The company’s customers have been responsive to the message that their tools can help make woodworking faster and easier, that they provide unique tools that can’t be found in local stores, and that their customer service team is ready and available to help if they have any questions, including helping them learn to grow as a woodworker.

Even more critically, this business has helped its customers feel like they’re part of a large woodworking community, and their glowing reviews reflect that. Their fan page on Facebook has a 4.7 Feedback score out of a maximum rating of 5, indicating their customers are very happy with the products.

This is a target that is primed to grow fast. The company could expand its social media presence to include sites such as Pinterest or by employing video marketing on YouTube and TikTok to increase sales. Another option is to boost PPC ad spend on Google, emphasizing the uniqueness of their tools. There are additional opportunities through a more aggressive email marketing campaign, and by launching an affiliates program to build authority. The company could also expand its listings onto Amazon, which would open them up to the massive audience that eCommerce giant has.

The current owner is exploring the option of developing Info Products, since these educational digital products offering vocational training and the personal experience of others have become very popular and could be combined with the products they now sell, adding additional value to them.

The business is highly automated. The current owner now spends about 25 hours each week working on it, but a lot of the focus is on ways to make it grow rather than daily operations. Virtually everything else already is automated.

The owner’s other tasks include creating new PPC ads, selecting new products to add to the SKUs, and developing growth strategies. The owner uses several contractors to assist with daily tasks, which include handling customer service inquiries. The company now receives 10-20 email messages and 10-25 social media comments that they respond to.

Cutting down on the stress of transitioning, the current owner is prepared to teach the buyer about everything this company does, post-acquisition.

As the DIY market continues to grow and woodworking remains a strong, evergreen industry, this company has the ability to scale rapidly under the care of a new buyer.

Measure twice, cut once. This is a popular woodworking motto and it can’t be said enough about this proven, powerfully built company. This brand grew rapidly and found a loyal customer base in just 7 months, the future is looking very bright.

This eCommerce Brand Represented by:

WebsiteClosers.com
Technology & Internet Business Brokers
Listing ID: WC2422

To request more information regarding this listing, simply check the ADD TO REQUEST INFO BASKET button and when you are done searching and have made all your selections, simply click on the REQUEST INFO button at the bottom of the page.

Additional Details:

  • The property is owned.
  • The owner is not willing to train/assist the new owner.
  • This is not a homebased business opportunity.
  • This is not a franchise resale opportunity.

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