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Listing ID: 2754564

Profitable Internet Apparel Biz (Relocatable) For Sale

Orlando, Florida, United States

$ 1,400,000

(Inventory / Stock included)

Revenue: $ 1,600,000

Cash Flow: $ 560,000

Business Description

eCommerce + Casual Fashion + Millennials + International = Profits

GetOnFleek, LLC is a combination casual fashion house and on-line marketing company featuring unique, eye catching, fashionable casual designs that appeal to Millennial’s in the US and overseas. Operating in a completely outsourced environment, GetOnFleek has gained notice for outlandish designs, creative marketing and capturing the zeitgeist of Millennial’s who want to be both unique and stylish.

GetOnFleek combines creative graphic design with outsourced high-resolution sublimation manufacturing and has created a Millennial brand that brings outrageous artwork to life in the form of wearable apparel.

With significant sales in the US, Australia, Canada and the UK, and positive mentions in media outlets as diverse as Vouge, USA Today and NBC, GetOnFleek has only begun to capture the market for fun, creative clothing. Ranging from a new take on traditional t-shirts to rompers, GetOnFleek products are fun to wear and fun to give (75% of sales).

In 2017, the Company made significant investments, at a cost of sales and margin, in platform technology (WooCommerce) and can now seamlessly integrate with third-party applications such as Amazon, Facebook and Google. The eCommerce portal includes currency translation and can accommodate multiple languages. Additionally, made investments in product quality, more reliable suppliers and faster delivery.

The Company’s new “Ugly Christmas Romper” line, has already attracted major media attention and will the subject of press articles beginning in November.

In 2018, GetOnFleek will respond to consumer demand and introduce two new product lines: sportswear and swimwear. Collectively, these two lines will drive an additional $500,000 (assumed) to $750,000 in additional sales.

Operational Summary:

GetOnFleek is coordinated by CEO and founder Giovanni Mannella and the only employee, Production Manager, Thuan Le. In 2017, the Company refined its virtual model, with Thuan, coordinating all (outsourced) operational activities, while Giovanni overseas the (outsourced) digital marketing and new product development.

With minimal focus, approximately 1/3 of GetOnFleek’s sales are to international markets, with Australia, Canada and the UK being among the largest. These customers tend to have larger average order sizes and present opportunities for growth.

Among the Company’s strengths are the ability to leverage social media marketing and brand authority. This strength can be further leveraged by a skilled marketer, creative graphic designer or brand/lifestyle expert.

Identified Improvements:

Being first time entrepreneurs, the GetOnFleek team focused on introducing product to market. Opportunities for material margin improvement include:
• Cost Side: Bulk ordering popular styles: 15%-17% margin improvement
• Sales Side: Allowing companies/sports teams to custom order (currently rejected): 15%-20% top line opportunity
• Trend Capture: Speed order delivery to leverage media exposure/leverage trends
• Celebrity Tie-Ins: Little has been done to “leverage” the value of media and sports personalities who GetOnFleek
• Sell directly through the Amazon Store, with the corresponding exposure and quick delivery

Financial Summary:

GetOnFleek has experienced rapid growth with sales of $1.6 million in 2016. In 2017, the Company intentionally pulled back to optimize eCommerce, product quality and delivery; changes for a Company built to last. As a result, EBITDA in 2017 is expected to be $300,000 down from $560,000 in 2016.

However, with enhancements in place, and two new product lines (sportswear and swimwear) to be launched, 2018 promises to be a strong year with projected sales of $2.2 million and EBITDA of +/- $600,000.

Property Details

Years Established:

2015

Inventory Value:

$ 1,000

Other Details

Business Location:

Orlando, Florida (Relocatable)

Premise Details:

Virtual office; distribution outsourced. Design, marketing and ordering can be done from any locaiton.

Competition:

Casual/gift fashion

Expansion Potential:

Sportswear and swimwear to be launched in 2018. Greater focus on ex-US would be positive ROI.

Planning Consent:

none

Operation Details

Employees:

1

Trading Hours:

Internet sales occur 24/7

Support & Training:

Owner will provide support and training for an extended period of time (as needed).

Relocatable:

Business Relocatable

Miscellaneous

Financing Available:

Yes
Owner willing to provide secondary financing of up to $600K.

Reason For Selling:

Owner getting married.

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