Portfolio of Jewellery Brands in Europe - Sell Project

Key Highlights & Valuable Assets  Product market fit that requires little advertising efforts. The jewellery gift niche is characterised by a very impulsive purchasing behaviour from customer that inevitably means less persuasion efforts compared to other niches such as beauty, health etc.Good margins and high perceived value. The product's shiny effect and emotional trigger with the message card ensure a high perceived value for the customers. With a 70$ AOV across the different sotres, there is enough room for advertising spentIn.-house team of custome rsupport agents, video editor and graphic designer who have been trained to function on autopilot. Top Tier Pricing with Shineon Supplier saving 3$/unit (still a great way to test products before transtioning to the Hybrid model with stock in China.Available Stock in China (we have 7k units in our Chinese warehouse) - these usually take one month for manufacturing Untapped European Markets with great opportunity to scale. The European markets offer a great opportunity in the e-commerce field with less competition compared to the US, Canada, Australia and UK. Each store comes with its own facebook page with a healthy feedback score between 3 and 4 You will be introduced to our contacts to easily open Klarna and Mollie (payment processors you will need in europe) Farmed ad account that can be moved to your existing FB business manager Proven to work optimised funnels with Zipify that have a current take rate of 10% on post purchase upsells.One hour coaching call with us to learn all the ins and outs of the industry. This is on top of the support we would give you for the onboarding and transfer of assets and any related questions you have along the way. We also offer an extensive list of SOPs that have been put together after 2 years of selling jewellery and gifts , these include the following: In-depht SOP that outlines all the different scenarios and customer complaints/questions, with best practices on how to handle each. This has been put together after more than 10.000 tickets handled in the last 2 years. A-Z Tiktok Guide on how to scale to 10k$/day, including best practices on how to test and scale campaigns, how to shoot and edit content, how to keep account organized and daily optimizations needed. SOPs on Facebook moderation comments/DMSOPs on how to handle Paypal disputes. More than 300k$ transactions and only experienced a one week hold on 25% of the balance once.Country niche analysis with best performing niches for each country and market research SOP on how to set up funnels and maximise AOV with Upsells for each sub-nicheSOPs on how to test products and what KPIs to look at on the different advertising channels SOP on how to upload products on Shopify and create landing pages Product Page Templates Translated to easily replicate into new marketsOnboarding SOPs with training for new Employees Facebook agency account top up SOPProduct MockUp SOP on how to create the designs SOP on how to navigate the CLickUp Project Management toolSOP on New Translator tasksNew Website SOP guide (4+ hours video and different SOP to expand to a new country - Executive VA already trained to do it)Content Creation SOP50+ Facebook Copy translated in the respective language ready to be uses1000+ (yes more than a thousand) creatives that still need to be tested between video and picturesFarmed Agency ad account and Pixel with thousands of euro spentFacebook pages with 3.5+ feedback score ready to advertise onDatabase of 100+ winning designs and products to testMethod to access all spy tools for 50$ a month (pipits, ad spy, mines, dropsy…)Email marketing agency at a very low rate with decent resultsGoogle Ads agency at a competitive rate that works on autopilotOperations & Business Model The pain point is simple: most people struggle to find a well-thought gift, especially men. They want something that is guaranteed to be liked by the recipient without spending countless hours doing the research, but mostly they want to make a good impression in the eyes of their loved one. Our product meets all of the above requirements given its high perceived value and unique heartfelt message card. Each piece of jewelry comes with a unique message card on the back. This note is the USP and triggers the impulsive purchase behavior from our customers. We spent countless time refining the process of message card creation and we now have a solid system to come up with winning designs that trigger the viewer’s attention and lead to a conversion. Our best sellers are guaranteed to make the recipient cry and that’s the reason why our satisfaction ratings are so high. Our VA is trained to successfully del with all customer complaints and is very familiar with all the ins and outs of the industry.Our video editor can dleiver high-converting creatives in less than 2 hours. We are able to bring to market 10 creative video variations for winning products when scaling in less than 2 hours. This gives us an edge and allows to never encounter creative fatigue on advertising platforms. What are the day-to-day tasks? Day-to-day tasks include sending orders to suppliers for the fulfillment, checking social media ad performance, creating new video ads, and responding to customer support inquiries.Many of these tasks are heavily automated thanks to the help of a rockstar VA form the Philippines who handles all of the customer support. All the processes and systems from message card creation and product sourcing to running ads answering to customer’s reply are documented in a collection of in-depth Stand Operating Procedure Documents that we have put together after two years of being in this industry.Our primary task has been advertising and driving traffic to the website, The rest is taken care of by video-editor and customer support VA agent.Opportunities The jewelry niche offers a great opportunity given the relatively low effort it requires to run ads compared to other niches such as healthcare, fashion etc. While many claim it is a seasonal industry and heavily relies on the Christmas season, this is also a big misconception because people buy gifts throughout the whole year for birthdays, weddings, mother’s day, Father’s day, Valentine’s Day, Easter and so on.After selling this type of product in 10 different markets for the past two years and scaling to multiple 7 figures, we can guarantee that sales do not stop throughout the year. The product indeed has a very high perceived value, ensuring high margins. Some of the opportunities for growth in 2023 include the following: 1. In-house fulfillment → lower costs, higher customer satisfaction, higher returning rate2. Expand the target audience by entering different niches → more scale and volume3. Expand the product line → more scale and volume, expanding even more the audience. Add bracelets, earrings to the available products. 4. Exploit different traffic sources → more scale 5. Expand to marketplaces such as Amazon and Etsy. 6. Expand to other markets in Europe such as Spain, Portugal etc.6. Optimize for SEO with gift blogs and articles. 7. Improve social media and organic reach by repurposing existing content into viral Instagram reels and Tiktoks. To this date, we are still relying on fulfillment from China. Bringing the fulfillment in-house would be one of the ways to level up the business, leading to improved shipping times, higher returning customer rates, better branding ,lower costs by ordering in bulk and stand out from competition.By in-house fulfillment this can be either with a 3PL in Europe or still in China. For Europe, we had already reached out to a 3PL after doing some research https://goborderless.com/. This would allow shipping to any country in Europe. There are also several opportunities when it comes to exploring different niches. We have only sold products in a few niches: from son to mother, from father to daughter, from father to son, from boyfriend to girlfriend.You can target women who give gifts for daughters, grandmothers for their granddaughters, brothers for sisters and so on. This way you would increase the customer base and expand the buyer persona to different demographics, leading to massive scale. Another opportunity is Valentine’s day which is approaching soon. During this time the demand is at the highest and all men are desperate to look for the perfect gift. As the numbers show proof, our product has market fit and is enjoyed by our customers so there is no doubt whether they will buy it or not, it’s just a matter of how well you can scale and the commitment you put into this business.We also did not exploit all the different traffic sources. We mostly focused on Facebook and Tiktok, but we do see the huge potential to explore other sources such as Pinterest and Snapchat, but also Influencer Marketing. It is clear that the product has market fit and is liked by the different markets.. WIth the current list of more than 5 thousand customers in each country the buyer can build a community of men and who have relationships. At the end of the day, people are buying to show love so there’s many other products that can be sold to this target audience, such as courses on how to improve relationships or other digital products that could increase the AOVB even more. The buyer can also consider expanding to more markets in Europe by easily replicating the stores with our trained VA. With a Translator taking care of the translations, our VA can launch a store online in less than a day. CustomersGiven the nature of the business and the different product designs that target different demographics, there is no “one size fits all” customer. For example, the father to daughter niche targets 25 + males who have a family and daughter. The son to mother niche targets 18+ males with mother. What is common to all niches and demographics is the social class. Our products are most suited for a low-middle class audience.These are mostly impulsive buyers that are emotionally triggered by the phrase on the design and decide to buy on the spot.We have a list 20.000 + customers across all the different stores. FinancialsThe business has been sourcing goods form a supplier based in Europe who has Warehouses in Amsterdam (name is Shineon)After noticing that the customers were comfortable with longer shipping times and realizing the high costs of sourcing from Europe (see table Shineon Supplier) the business has transitioned to a hybrid model with dropshipping from China (see table private Agent China Pricing)From Nov 22nd we started shipping our winning products in each European country from China , thus, leading to noticeably imporved margins.To ensure shorter lead times, we hold stock in china. This way, goods would arrive at doorfront in 7-10 days for our customers and we did not experience any drop in feedback rates from the previous 3-5 days Shipping from AmsterdamThe Hybrid model led to some changes in accounting and bookkeeping. You will find the Month of November and December looking slightly different from the other months in the country by country breakdown.From the 22nd onward we updated the COGS inside shopify for each product (our best sellers had X cost while the rest Y cost). Since we were driving traffic only to our best sellers that were shipping from China and all of them had one unique variation (mahogany box silver) we could now simply pull the COGS from Shopify instead of breaking down the quantities and multiplying by the cost per unit as done during previous months The French market had a hard time finding the product-market fit so we made the move to transition to the french-speaking side of Canada and immediately found success. You will notice a spikein the French accounting sheet during November. That is when we made the move. You will also notice the values being converted from CAD to Euros because of that.Each country has a dedicated exchel sheet and the values are all converted at the current exchange rate pulled from Google Finance (see table Google FInance Exchange Rated on this sheetEach country has a breakdown of its own operating expenses such as email marketing agency, shopify plan and apps used to run the storeWith the business relying on festivities such as Mother's day, Father's Day, Valentine's day and Christmas season, it is to be expected that some months will result in weaker performance. However, the stronger months most of the time will compensate for the small losses from weaker months.A team of contractors composed of 2 customer support agents, one video editor, one graphic designer and one translator for each store. These expenses are accounted for in the MERGED P&L sheet that adds app all the individual metrics from each country. Video Editor: Part time, paid hourly. Works 4 hours a day during high season and less during low season. 3$ / Hour. He is in charge of creating the video assets we use for advertising.Customer Support VA: full time 8 hours a day. Earns 160$ / week. She manages all emails, social media comments and fulfillment. Graphic designer: Part - time. 3$/hour. She is in charge of creating the image creatives we use for advertising. She works 2-4 hours per day depending on the scale and volume of creatives required. She is also in charge of creating the designs that are used for the product.Translators: each store has a translator who is available any time to help fix mistakes on the website or understand certain complaints by customers. Each is paid from 70$ to 150$/month and works on a demand basis when we ask for help with specific website translations for example.