-40%
established online business for sale
$ 528
- Description
- Size Guide
Description
SummaryMy Organic Marketplace is a global online community where people come together to buy and sell organic, eco-friendly, small batch goods. We are dedicated to building a sustainable future by supporting independent farmers and artisans
At the moment it is just an online website and can be made into an app in the future.
This is a great business with great potential because of 2 things. 1. The name is self explanatory. The google traction on the name alone is amazing. 2. The current state of the world with everyone talking about sustainability means that this business has the first movers advantage. In the next 10 years, businesses like this will be everywhere and My Organic Marketplace if managed properly should be the standard that they would all be looking up to.
Operations
Originally, it started out as an online marketplace modelled on Etsy. The growth was exponential, and the very first sales were recorded in 3 days, which was quite shocking as I projected that that would happen in 2 months at the very least. This showed that there was real demand for the product, i.e the site.
Money was made by charging a commission for each sale, very easy and straight to the point. However, it was just myself, running the whole thing while being in college. I was the CEO, customer service representative, graphic designer, social media guy etc. I also had to handle finances and payouts to the sellers and handle shipping queries/disputes for the customers and fend off bots and hackers from the sites. In the end, it was overwhelming and I had to shut down the payment gateway and turn it into a listing site where vendors handled their own payments, (much to the disappointment of the sellers) . It can be easily converted back to a marketplace or even be both a listing site and a marketplace.
What needs to be done for this business to keep it running? In a nutshell, it needs manpower. This business has the potential to one day rival Etsy and maybe even be as big as Whole Foods. If you are looking to buy this, be prepared to invest money into hiring manpower in at least 3 key positions.
Also, with the economic state of the western world, i.e Europe and North America, the fears of the people could be useful in selling the ideology behind the business, i.e buy local, shop sustainably, etc. (Wether you see this as exploitation or just business, the fact remains the same, I personally, am a disciple of this ideology, why buy groceries from global conglomerates when I can buy the same thing from my local farmer's market)
There are many exciting options for expansion, including expanding into emerging markets such as Africa and Eastern Europe (these markets also have very little regulation, speaking from experience). Another option for expansion could be building a logistics operation from the ground up to cater to sellers, such as amazon prime) This provides for further monetisation and is an additional step to creating a circular economy. Ultimately, it can be built to a point where My Organic Marketplace becomes a one stop shop for anything organic, sustainable or eco-friendly.
Customers
The average customer is female and middle aged. Which is a very large part of the population in the western world, particularly the United States. Customers are acquired organically mainly through Google searches and Social media. Majority of Customers are in Ireland, the United States and United Kingdom accordingly. Due to the site being very niche, customers buy into the ideology and are very loyal which turns them into repeat customers.
Financials
No clear financials at the moment, the site is however very profitable if managed properly. There are obvious monetization methods for the site and not so obvious ones which can be provided.
Additional Notes
I am extremely reluctant to sell this business, so I am open to negotiations. If its okay with you, I would love to hold a minority stake in the business, just because I truly, truly believe in its potential and I don't want to be looking 10 years from now regretting the sale, Lol.