5 Year Old FDA-Registered Hearing Aid Brand on Amazon FBA
This FDA-registered hearing aid brand focuses on offering affordable hearing aids through Amazon. They have built a strong customer base by providing high-quality, FDA-registered hearing aids at a fraction of the cost of traditional prescription hearing aids.
OPERATIONS
Over the past 5 years, this brand has successfully marketed their hearing aids on Amazon, with 2020 being one of their most profitable years. They offer 7 model SKUs, with an average order value of $232. The company also sells accessories such as hearing aid dehumidifiers, ear drops, and earwax removal kits.
The company utilizes Fulfillment by Amazon for efficient shipping and maintains inventory in Amazon and Walmart warehouses. They offer volume-based discounts on larger orders.
MARKETING AND KEY METRICS
The company utilizes PPC ads on Amazon to reach their target audience and has built awareness through social media marketing on platforms like Facebook, Twitter, Instagram, and Pinterest. They also have a strong email marketing campaign and maintain a blog to drive organic traffic to their website.
The company sells its products on Amazon, their own Shopify website, and on Walmart. They have already benefited from their affiliate marketing program and could expand internationally through Amazon’s foreign platforms.
The company’s key metrics include 33% of gross revenue coming from repeat customers, profits increasing by 34% YoY, and a growing email database of 31,000+ subscribers.
The company’s customer base consists primarily of men between the ages of 55-60 with a household income above $55,000+. 33% of their gross revenue comes from repeat customers.
BUSINESS MODEL & RESOURCES NEEDED
The company is operated by a current owner who spends 20 hours a week on customer service. They have two full-time employees for customer service and inventory processing, and a contractor for website management, email marketing, affiliate marketing, and PPC ads.
THE INDUSTRY
The affordable hearing aids industry is growing rapidly, with the market projected to be worth $11.02 billion by 2028. The company targets an aging Baby Boomer population with household incomes above $55,000+. There is also a potential market for hearing aids for children with hearing defects.
OPPORTUNITIES TO SCALE
Opportunities for scale include expanding the affiliate marketing program, introducing new SKUs to upsell to the existing customer base, and increasing PPC marketing efforts to target the right demographics in the US and globally.
Asking Price: $750,000
Gross Income: $1,816,350
Cash Flow: $248,154
Year Established: 2016
Employees: 3
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