Started in 2018, this socks and hosiery business is a true success story. In the trailing twelve months, it had top-line sales of $5.2M and a net profit of $963K. This is the kind of evergreen business that buyers dream of acquiring. It’s in a strong and stable niche and has seen significant year-over-year growth of approximately 50%. Backed by numerous trademarks, the diverse product line is comprised of three main categories: Solutions (medical), Novelty (animal and other unique designs), and Outdoor/Active (wool for work or boots). The company considers its products to be the best in class in terms of quality and features.
Sales are made through diverse channels including, Amazon 64%, major offline retailers 25%, smaller novelty shops 10%, and the company’s own website 1%. The major offline retailers include Kohl’s, Kroger stores, Shoe Carnival, and Tractor Supply. The company’s online presence is impressive as well. They have a 93% lifetime positive seller feedback rating, and the four top-selling products have almost 12K reviews and an average of 4.6 stars.
While the company is already growing at an impressive pace, a new owner could take advantage of multiple opportunities to accelerate that growth. This includes things as basic as optimizing the Amazon listings and marketing campaigns, to expanding the medical solutions-based brand. With a really solid foundational business, there are hundreds of medical conditions that the solutions category has yet to address. Pursuit of any of these and the countless additional unlisted opportunities is a pathway to reap impressive results.
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Chuck built his first profitable website in 1996 at 18 years old. In college, he studied computer software engineering which taught him the skills to analyze search results and implement strategies that took advantage of the observations he made. Throughout his career of developing, managing, consulting, and investing in internet-based companies, Chuck has developed a keen ability to spot opportunities and develop strategies that lead to growth and profitability.
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