Men’s Dress Shoes and Accessories Brand with Strong Social Media Following
Gatsby Shoes is an eCommerce brand selling men’s dress shoes and accessories under its own trademark. The company has a strong social media following and has generated more than $8 million in lifetime revenues. Their products are designed to offer style and comfort to fashion-conscious buyers, across different age groups. The company sources products from multiple factories and sells them via social media, email marketing, SEO, and PPC ads. With low overhead costs, limited competition, and high demand for men’s shoes, the company is well-positioned for growth.
OPERATIONS
Gatsby Shoes operates on a simple but highly efficient eCommerce model where the company buys Men’s dress shoes from a factory, brands them, then resells them through the advantages provided by social media, email marketing, and a strong SEO program. The company has strong ties with their manufacturer and all the products are drop-shipped to the buyers. With the assistance of an experienced team of contractors, the owner spends only 2-5 hours every week monitoring email support and posting on social media.
The company has built strong working relationships with all their manufacturers, and their main supplier can provide 100% of its inventory. All the products are drop shipped by the manufacturers to the buyers. The owner checks in with suppliers to monitor inventory levels and logistics.
MARKETING AND KEY METRICS
To reach their customers, the company has taken maximum advantage of social media marketing to drive sales. That includes Facebook and TikTok to boost organic traffic to their site. The company benefits from a robust email marketing campaign, generating approximately 25% of their total revenue. The company has an SEO program that includes multiple blog posts and backlinks to generate more online traffic, and it is working. They have also made use of PPC ads on Facebook and Google to boost sales.
The company can explore expanding the product line by adding new SKUs and opening new distribution channels such as Amazon, Walmart, or eBay, as well as making an international push on Amazon’s international platforms. The company can also take on wholesale accounts to boost sales, including upsells and cross-sells, to their existing customer base.
The company’s Average Order Value is $86, and they are now shipping 275+ orders per day. With 120,000+ subscribers in their email database and 300,000+ monthly visitors to their website, their email newsletters are driving up to 25% of their total revenue. Up to 10% of their revenue comes from TikTok, and 8% of their sales now come from repeat buyers.
The company’s customer base consists of both men and women who purchase their fashionable men’s dress shoes and accessories. Their primary customer base is men aged 40 years and older who are fashion-conscious, but they also have sales from women who purchase the shoes as gifts for men.
BUSINESS MODEL & RESOURCES NEEDED
The company is operating with an experienced team of contractors to handle daily operations. The current owner spends only 2-5 hours per week running it, with the assistance of an experienced team of contractors. The owner is available to provide assistance during the transition.
THE INDUSTRY
The footwear industry is globally projected to earn $133 billion in 2022 and grow by a projected 10% through 2025, with footwear being a necessity and demand remaining high. The industry offers products that are constantly in high demand, including luxury, business, and sports shoes, and sneakers. This is an evergreen industry with products that are constantly in high demand, including orthopedic leather shoes, dress shoes, high tops, formal dress shoes, and loafers, and accessories such as leather belts and dress socks.
OPPORTUNITIES TO SCALE
The company is well-positioned to scale quickly. With low overhead costs, limited competition, and high demand for men’s shoes, the company can start taking on wholesale accounts, adding their listings to popular sites such as Amazon, Walmart, and eBay or make an international push on Amazon’s international platforms. The company could also expand what they offer their existing customer base with new SKUs and add new distribution channels to boost sales.
Asking Price: $2,500,000
Gross Income: $6,741,582
Cash Flow: $677,703
Year Established: 2020
Employees: 1
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