$10K - $100K

About the business Key Highlights Since our inception in 2020, we've turned over more than £200,000, shipped 17,000 orders whilst also being featured in the press multiple times. We're currently sat at 629 subscribers. As at February month end, our monthly churn was 14.02% with an average lifetime value of £81.46. Our front end website is currently custom HTML, backend and CMS is handled by Subbly (www.subbly.co). Subbly also handle the customer log in portal where they can go on to manage their subscription etc, reducing customer service requirements. Our payments are handled by Stripe. Our subscribers typically have peaked in the festive period, where we have hit just over 800 subscribers in January 2021 and January 2022. We are, however, beginning to transform the business to be less seasonal in terms of customer acquisition. In March, we were 700% up on new customers MoM, so these efforts are starting to pay off. This has resulted in an over 15% growth MoM in terms of overall subscription numbers (growing from 540 to 629). Operations We currently operate predominantly via a 3PL. There is also the software and processes to bring everything back in house, should the new owner wish. We do not have any fixed lease agreements or staff, so the business is easily relocatable and flexible for the new owner. We also have an agreement in principal with a new supplier to provide an all-in-one supply + fulfilment arrangement. This will make the business fully hands off for the new owner. Customers Our main customer acquisition efforts are concentrated in the festive period. After running this business for a few years, we've found these customers to have the lowest acquisition and highest LTV overall. Our product works fantastically as a gift for a loved one. As mentioned in the highlights, however, we are trying to transform the business to be less seasonal in the case of a quieter Christmas. This would be a great development opportunity for a new owner. Financials Our biggest months in terms of revenue are typically December and January. This is because roughly a third of our subscribers (most of which are gifts) opt to pay either 3, 6 or 12 monthly. Otherwise, our revenue typically sits between £5000-8000 per calendar month. Development Opportunities There are a few areas of development I would focus on as the new owner. Principally would be increase customer acquisition efforts out of season as above. We've proven that the concept is more than capable of doing this in the last few months, but there is still a lot more that could be done with a capable marketer in charge. Secondly, there is always work that can be done on retention of current customers. Naturally, retention is cheaper than acquisition. There is adequate scope to improve the product, either through the physical product the customer receives or the messaging. Again, there is a lot that could be done in this area to further increase LTV. Thirdly, there is the opportunity to sell the books individually via marketplaces/own website (like World of Books or Better World Books). We have the supply lines in place to be able to do this profitably. This could provide another source of revenue to then reinvest in customer acquisition, growing the recurring revenue element

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