Very Promising Online Pound Shop
- One of the largest online pound shops in the UK
- Superb reputation, evidenced by 143,000 ever growing Facebook likes
- Massive product selection with over 3,500 lines
- Excellent relationships with manufacturers and distributors of the products it sells
- 13,000 strong and growing customer database, and great upside potential
The owners launched their online pound shop in 2014, something that only one other company was having any success with at the time.
Gaining customers for discount products, including well-off customers, in a positive economic environment, and sourcing cheap but quality stocks, were both contrarian thinking that have laid the grounds for the business’ rapid growth and unlimited scope for additional expansion.
Not many classes of business do well when the economy is booming, and do even better in recessions. Discounters are such businesses and certain discounters, namely pound shops, are exploding. A relatively young market, pound-shop super growth is being driven by the appearance of large store networks, ever increasing variety, including major brands, and wider acceptance amongst more affluent consumers. While internet shopping is expanding much faster, there are not many online pound-shops, most likely for the technical savvy required on-top of retail experience, and for the acumen needed to setup efficient and cost effective supply and delivery services.
This business, however, has surpassed these difficulties, and found the perfect formula for virtualizing the pound shop. It has secured supply for over 3500 items, sold (mostly for one pound) on its state-of-the-art website, and offers its own delivery service throughout the UK using couriers such as Hermes and Yodel, with free shipping for orders over £35. It has, consequently, built an incredible following since its launch in 2014, yielding stupendous turnover closing in on £350,000.
Intelligent Business Transfer are thrilled to have received the instruction for one of the UK’s largest online pound shops, with a stellar reputation and tremendous upside potential.
Going from zero to 144,000+ likes on a Facebook page and from zero to nearly £350,000 in revenues in just under two years are, undeniably, remarkable feats, that underscore the gap in the online shopping market place that this web-based pound shop fills. To reach such a status, the business has effectively utilized SEO, and an active Facebook presence which is growing constantly, but mostly its owners and employees have worked hard to ensure orders are processed on time and shipped correctly, something that customer feedback indicates they have done exceptionally well.
As is, this business is an excellent investment, moreover for the numerous growth options it offers. Probably most interesting, is the potential to sell overseas, a ploy that has been successful for the business’s only competitor of similar scope. AdWords and other types of advertising could also generate more store traffic. Specifically, the owners feel regional advertising could be especially potent.
The owners are involved in other business interests that require their full attention, and have therefore retained Intelligent Business Transfer to locate an individual or a competitor already selling discount brands online as potential buyers. They have given their consent to stay on for transition for up to one week.