This entirely absentee operated online tech retailer with an innovative concept has its very simple time keeping product and affiliated phone application manufactured in China, and drop shipped to customers in the U.S. and abroad (10%). The company, which has operated for less than 1 full year, has sold nearly 5,000 units and brought in over $220,000 in revenues, with only 2 major forms of promotion - an initial business Kickstarter program (which raised nearly $100k) and a successful press release.
Asking Price $149,000.
This firm is absentee operated. This 3 component product, which is manufactured in China at a $10 landed cost, is drop shipped from a contracted New Jersey warehouse at $1.50/unit. A $10 per hour part time assistant manages social media and customer inquiries 10 hours per week. The name is trademarked but the application cannot be patented. An iPhone and Android application has been developed and is included in the sale price. An accessory pack, which allows for desktop or necklace like placement, has been developed but not launched; it can retail for $20. Roughly $50,000 in inventory will be sold at cost at close in addition to purchase price.
Competition exists on many levels for the basic functionality that this product delivers. There are no direct competitors, however, for the greater ''meaning of life'' type of message that this novelty item inspires in its users. The product's cache and intrigue are not due to the simplicity of the concept, but rather the emphasis and reminder of what it stands for and the conversation piece it immediately becomes.
This absentee operated firm has generated over $120,000 in sales via one successful press release in January 2014, and a trickle of Facebook and Instagram social media activity since. The novelty produce is a great conversation piece, so it lends itself to viral sale. An active owner-operator may will to continue to submit press releases, engage in online marketing and advertising,etc