Curious about what goes into selling a fast-growing early-stage niche eCommerce business?
Jeff Richards is the founder of Rayneta, an agency helping companies grow their revenue with data-driven and paid media. Jeff hopped on the podcast to talk about the sale of his niche eCommerce brand, Wolf Republic, which he co-founded with his wife Brittney.
Jeff and Brittany’s first product for Wolf Republic, an outdoor dog goods eCommerce brand, was a high-performance doggy backpack. A genuine leather harness with carrying pouches that could be attached to a leash. The couple previously bought similar products for jaunts in the wilderness with their pet, but they were cheaply made with gaudy designs and kept falling apart.
While working full-time, the couple created their first high-quality, no-frills doggy harness called the Ranger Pack. Then they gave them away as gifts to doggy influencers on Instagram to help market them.
After a period of growth, they turned on paid ads for Wold Republic and business boomed. At its peak, Jeff and Brittany hand-packed as many as 250 orders on the side while working and preparing to have a child.
Finally, with a baby on the way, they realized they needed to sell the business and Acquire.com was their first choice.
Listen along as Jeff talks about:
- Growing the brand by gifting products (with no payments or ad requirements) to outdoor doggy influencers.
- When to start running paid ads for maximum growth.
- Working full-time jobs while running a company.
- The surprising benefit of failing a deal.
- Why you should reveal the flaws of your business in M&A.
- Transferring eCommerce inventory across the US post-sale.
A must-listen for aspiring deal pros: Jeff and Brittany settled on a unique deal structure to secure their final sale. It’s one that they believe will be far more beneficial (and profitable) to them and their buyer than any deal they would have dreamed up. Find out what it was on this Startup Acquisition Stories podcast.
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