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WEB/DIGITAL How to Sell A Niche Brand

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MarkM

New Contributor
Dec 27, 2017
3
10
13
Nashville, TN
I have been running a small niche brand called Ginger Problems for the last 2 years. I bought the company from a friend of mine and had been growing and working pretty hard at it up till about September of 2017. I am just plane old burnt out on it.

So, people that are in niche companies, how do I go about selling the company and/or what are your thoughts on cutting costs and reducing time spent in order to keep myself interested?

The site is www.gingerproblems.com.

I have a new project I am working on and althogh this profits $12k or so a year, its just not worth my time. Or maybe it is and I am not looking at it the right way?
 

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StartUpDavid

New Contributor
Read Millionaire Fastlane
Jan 17, 2018
8
7
16
25
Washington, D.C.
Hi MarkM. What's the time investment on your part? How many hours do you spend and doing what?

Are you able to grow the business? Have you looked at other advertising mechanisms (e.g. Facebook targeted ads)?

The first thing I would look at is how much my time is worth. If you are spending 5 hours per week, that $1000 profit per month works out to about $50/hour that can keep you afloat while you start other ventures. Is that worth it for you or would selling it be a better use of your time?

The second thing I would analyze is whether you can grow it and how much. Is it worth the investment to do so for the potential revenue or exit value?

Finally, I'd look at cutting costs via outsourcing what can be outsourced. That doesn't seem to be the main issue here (due to low revenue), but that could give you incentive to keep a revenue source while doing the minimal work possible. Customer service, shipping, etc. may be able to be outsourced. You'll lose part of your profits, but you would drastically increase your $/hour of work.

Flipping niches should be doable via online marketplaces. For example, you could use Flippa. Depending on how much work is required, the price will differ (e.g. if this involves dropshipping, it should be a breeze).
 

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