As a small business owner and someone diagnosed with Bipolar and other high anxiety disabilities, this Textiles Depot site is his main generator of income. Life can always be worse, but he works hard at living for the day as well as being happy for the gift of life and appreciating the beautiful people he’s met along the way. Living with mental illness can be very traumatic in somebody’s life causing many types of hurdles new and old. Living in the present and righteousness in life is a testament that individuals with mental health problems can make a positive difference in this world. The person writing this PR is the small business owner mentioned above. Remember, do the right thing, what makes you happy, pays the bills, and be able to retire comfortably! As somebody once said the car's windshield is bigger than the rearview mirror so don’t live in the past!. With that being said jumping off the soapbox and, let's take a look at the eCommerce business with some advice for new and even seasoned entrepreneurs.
The family business, started in 1928, is the oldest in Southeast TX which was started when my great grandpa hit the "Irish Sweepstakes" which is like a modern day small lottery. He used the proceeds start a dry cleaning company because he had experience in that field that has now evolved into multiple companies and is a fourth generation family business and hopefully a 5th!
The first eCommerce business was started in 2016 called FRoutlet (that still prospers) for flame resistant clothing that these following industries have to wear by law: petrochemical, utility, offshore, and oilfield. Contacted the previous owner of that URL via telephone and tried not to burst out laughing because he wanted $500 for FRoutlet.com that was expecting to pay 5K to 10K for! Had support from the owner of the previous company and essentially had a blank checkbook and learned lessons OTJ (On The Job) and by using WAG (Wild Ass Guess) Have an bachelor's in Entreprenurial Management from TCU and learned quick that you can read every entrepreneur book in the world and still have no experience. That's why case studies are important in entrepreneurial classes is to learn from other peoples' mistakes on their dime, not yours and can imply those tactics that the individual learned from or executed that hopefully created a good company or know what not to do! If you're going to start an eCommerce business focus on conversion rate, profitability, niche, high ticket/margin items (because Pay Per Click is expensive), and mystery shop your future competitor's site(s) using tools like SEMrush or Ahrefs. FRoutlet does very well and now has high barriers to entry as manufacturers have entered the eCommerce space, but the company is still in the Top 1% for private eCommerce companies in sales.
Textiles Depot has been in business since 2021 and focuses on the healthcare and hospitality industry. Most of the business is hospitality, but has some long term repeat business with some hospitals and other clients. Price competitive hotels, hospitals, mental health facilities, restaurants, and other establishments is a low margin business, but leveraged the family business's buying power for a competitive advantage over the competition. If you're thinking about a site, do research with the aforementioned tools, you can even Mystery Shop your competition and say your interested in a particular item, then ask how many of these do people usually buy, and your next question is the most important. Just out of curiosity what's your average purchase size? That last sentence is golden. Knowing a ballpark or good AOV (Average Order Value) is paramount in eCommerce becuase then you can account for margins, adspend, and do research on the conversion rate which differs by industry. Furthermore, find a business in the niche you want to get into and ask them for distributor pricing because your goal for them to be one of your or biggest supplier in X niche. They might even want a piece of the rock (equity) which could be a win/win and get some runway (cash to use for startups). Remember to treat your customers the same no matter how big or small they may be. That's not only the right thing to do, but can also help with referalls, have repeat business and both parties have a good business and/or personal relationship.
The current venture takes pride in excellent customer service and having a large healthcare selection of blankets, towels, patient gowns, disposable and reusable pillows, baby gowns/sheets/receiving blankets, smock, frocks, lab coats, hospital sheets, and dignity garments, bath towels and bulk beach towels. Most of these products can be washed commercially especially the smocks, frocks, lab coats, and hospital sheets/towels. Have connections with warehouses across the USA for strategic shipping. Once you start your eCommerce business quickly getting a shipping app like ShipStation or Shipping Easy for cheaper prices because of strength in numbers AKA buying power as previously mentioned. You should google Quiet Light to get access to listings and learn different things about eCommerce businesses that are up for sale and you should find a few "golden nuggets" of wisdom there. In addition, go find a mentor who has a sizable eCommerce business and bring them a gift basket and they can help point you in the right direction. Once your business is in the 7 figures, join eCommerceFuel which is an online community of entrepreneurs that help each other out in different industries. This was tremendously helpful in for the first site, FRoutlet and a major reason for the site's success.
Thanks for reading this and hopefully you learned something thought provoking today! The goal is to get this company to be a nonprofit and help people with mental health issues, substance abuse issues and other good causes. Try to be bright in a dark universe, practice righteousness and peace be with you!
Website of Source: http://textilesdepot.com
Source: Story.KISSPR.com
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