SingaporeOverview
Financial Performance
Revenue
Under S$5K
Gross Profit
Not Provided
Net Profit
Not Provided
Monthly Rentalt
S$0
Business Operations & Assets
Stock
S$2,328
Price Included
Year of Incorporation
2013
Owner Role
Full Time
Business Details
Reason For Sale
We have a low capital & budget therefore we are unable to produce the resources necessary (manpower, transport) for this business to hit its high potential. Also, we the owners are constricted with time by other commitments to continue this business (serving national service).
Description
Our partnership was started by 2 entrepreneurs with a plan.
The plan:
To approach independent convenient shops a.k.a Mama Shops (500 over shops in Singapore, we have the addresses) and sell our products directly to them, simply because at stores like these the owner is usually running the store so they are able to make the decision on the spot whether to take up our products or not.
The result:
We now have 34 retailers (out of 45 that we went to, only 11 shops rejected us) that we are distributing our products to, mainly Money Changers in central area (Orchard, Somerset) and Mama Shops in east area (Bedok, Marine Parade). We currently only have one product that we are distributing, Clipper Lighters.
Sales are good, people love the lighters and our retailers are restocking constantly. We have 100 cartons (48 lighters/carton) in stock. However the downside is that the cost of the lighter is high so profit margin is low, we were counting on our second product onward for the increased profit margin. Clipper was just our entry ticket into the market because it is a nice lighter that is in demand in Singapore, we are the only distributor for it.
The potential:
We have covered Central area and Bedok/Marine Parade area and have proven that this is a working sales plan, there are more than 10 other areas in Singapore to be covered around 400+ more Shops. Profits will multiply as you add products to your catalogue.
With this plan and the necessary resources required to execute it, you can potentially build a big wholesale company. All it needs is to be in the hands of the right people with the proper vision for the company.
We are also exploring the option of doing a JV so do contact us if you are interested.
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