Harvest Design Living: Online Furniture Business
Kay had a passion for beautiful furniture and for three years it consumed her life while she created the perfect business model to fit in with her lifestyle. She then spent 12 months building up what was now a great little online business selling popular rattan style furniture pieces, all while having a new baby and also a 2 year old at home. As you can imagine, the combination of mum life while running a new business meant that she was close to burning out and something needed to give. Kay was also faced with the saddening situation that many start up business owners sometimes face – she did not have enough capital to grow the business any further and had made the hard decision to sell her dream. In Kay’s words “I built something beautiful, so I really hope I can pass this onto someone just as passionate, make this dream flourish and give this business what it deserves!”.
Kay called Bonza to list her start up business for sale. While the business was breaking even at this point, it also had $30,000 worth of stock on hand and another container of stock valued at $35,000 arriving in December. The team at Bonza discussed the best way to market and price this business opportunity to make it attractive, keeping in mind that the new owner would also need to be able to fund another container of stock to keep up with the demand.
As the business sale progressed and the world was faced with the COVID-19 pandemic, online businesses started to notice a massive boom in profits and Kay’s online furniture store was no exception. Since the initial discussion with Bonza, this business had gone from a position of breaking even to now having a net profit of over $140,000 for the financial year! This meant that the marketing and price needed to be altered to suit the businesses current position. Changes and ongoing price advice are all part of Bonza’s full business sales service and come at no extra cost.
Over the space of just under 11 months, this online business received a massive 80 enquires, 27 of these happened after the price was increased. Running a business and then also selling a business can be an unpredictable roller coaster but when you have clients who achieve over $100,000 more then what they expected for the sale then you know it’s a ride worth taking.