Looking for a buyer.
Scaling Mid-Century Modern Furniture eCommerce Brand – Preferred Wayfair Partner – also Sold on Many Other Sales Channels – 40 Staff Members Website Closers® presents an offering in the Mid-Century Modern Home Furnishings vertical that is selling on many sales channels, including multiple retail establishments, their Shopify Website as well as online marketplace sites, like Wayfair. The business is every bit as chic and sleek as the mid-modern designs it sells. This business, which began as just two retail shops and grew into a large Internet Company, has blossomed into a successful eCommerce enterprise with glowing reviews from a rapidly expanding customer base— particularly millennials. This company has experienced skyrocketing success in less than 6 years as the modern furniture market has heated up. The thriving U.S. housing market has played a role in driving this because with the further development of new homes, there is a growing need to fill the home with furniture. The company thrives on its Shopify Website as well as Online Marketplaces like Wayfair (where 65% of online sales are generated) as well as Overstock, Wayfair, and Home Depot. With more than 1,000 imported and stocked private label SKUs on offer and an impressively high Average Order Value of $1,000, sales have surpassed $22 million. The brand is well-positioned to expand, and current opportunities place them on track to pull in $100 million in sales. Their products are in high demand. Since 2016, the company has been selling its brand of mid-century-inspired modern furniture that includes living room, dining room, and bedroom furniture pieces. That includes products manufactured specifically for this brand and others that are not. Living room items have become their top seller, making up 70% of gross revenue, with dining and bedroom sets bringing in the remaining 30%. Their revenue has increased considerably as the brand’s product line expanded beyond 1,100 SKUs. Sales remain healthy through the year, with November serving as their strongest month thanks to Black Friday purchases. The company has done particularly well appealing to young professionals who prefer smaller apartments, condominiums, or townhouses near urban centers. Their compact furniture offerings just make sense in compact accommodations, and the growing trend toward smaller but more modernized luxury apartments holds promise for their future sale prospects. Multiple Sales Channels are a major strength. In the past few years, the brand has enjoyed a massive 77% YOY Revenue Growth as they continue to expand onto new sales platforms, most recently onto Home Depot, Walmart, and Target this year. They’ve reaped massive benefits by exposing their SKUs to the millions who use those sites. That enabled the company to expand sales well beyond its two brick-and-mortar stores in Houston. Today, Wayfair makes up 65% of the company’s sales, and just 10% of revenue comes from its retail stores. The organization has dedicated internal processes in place to keep quality superb. Products are sourced from multiple manufacturers across the globe, and the company has cultivated excellent relations with its suppliers to ensure products are available in a timely manner. By consistently maintaining $5 million worth of inventory stocked in their 4-level, 90,000 square foot storage warehouse, they ensure that shipping times are never behind the industry standard. The company has an experienced team in place, consisting of 40 employees who handle daily operations and maintain high levels of customer satisfaction. On both their own website and on Wayfair, the company receives many 5-Star ratings from happy customers. Advertising Utilizes Social Media to Boost Sales. Much of the brand’s effective marketing has been built around social media. They have a strong presence across multiple sites, with nearly 10,000 followers on Instagram and over 8,000 on Facebook. They use their YouTube channel for video marketing, which is particularly appealing in the space. The brand employs PPC ads on Facebook to boost sales, while relying on Wayfair’s internal marketing to expand its customer base there. 100,000 monthly visitors across all websites speak to the efficacy of these campaigns. This is a company that benefits from a reputation for quality products, excellent reviews and customer referrals, and a niche place within the thriving furniture industry. Having established a vivacious customer base among millennials and Gen X consumers, this brand will have ensured profitability for decades to come. The mechanisms are in place for rapid growth from a highly successful start-up with demonstrated mass-market appeal, including the ability to expand its SKUs into new areas such as lighting and to launch listings onto Amazon. This enterprise creates a perfect opportunity for the right buyer. Contact Michael Freedman or Michael Adams today so they can provide additional details. Asking Price- $27,500,000 Cash Flow- $6,751,650 Gross Income- $23,419,621 Year Established- 2016 Employees- 40
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