If you are an entrepreneur, you have probably come across a business being sold so cheaply that you considered purchasing it. However, being business savvy enough to differentiate between fantastic buying opportunities and energy-destroying lemons can be very tricky. So in this episode, we have Brian Lejeune and Janine Do, owners of VirginiaBoysKitchens.com, joining the show to discuss how they purchased a business that had not made a profit in over half a decade and turned it into a profitable, growing company.
Listen in as Brian and Janine share how they knew the business had potential and how price increases were essential to improving the business. You will learn how they were able to dramatically increase their margin through supply chain optimization, how they advertised, and how they improved the products by improving the customer service. If you are considering purchasing a business, this is the episode for you.
You'll learn:
- Why Brian and Janine decided to purchase and what potential they saw in the business. (5:40)
- What they really liked about the business before they took it over. (8:50)
- How they improved the products by improving the customer service. (12:42)
- Sourcing nationally versus internationally. (19:30)
- How Brian and Janine tested out product increases. (24:16)
- The biggest changes they made to increase profitability within the company. (28:52)
- Why they decided to turn off Google Ads. (37:00)
- How they grew their Shopify. (44:55)
(With your host Andrew Youderian of eCommerceFuel.com and Brian Lejeune and Janine Do of VirginiaBoysKitchens.com)
What Was Mentioned
- Virginia Boys Kitchens
- Frequently Bought Together
- In Cart Upsell & Cross Sell
- ReConvert
- PPC Entourage
- Parachute Coffee
- Rob Bramwell
- Chad Ross
- Mike Hutzel
- Nabil Rab
- Jason Richardson
- Jack Carrier
- XL Walnut Cutting Board
- eCommerceFuel Forum
- Klaviyo
- One Click Upsell – Increase Sales 15%+ with Pre-and Post-purchase Upsells. (On average, Shopify users increase sales 15% immediately after installing the app!)
Ideas Worth Sharing:
“Being able to have the wisdom to discern the opportunities from the nightmarish, soul-sucking, energy-destroying lemons can be tricky.'”- @youderian
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“We’re okay with slowing down growth as long as we’re making money from every single sale.”-Brian Lejeune
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“You’ve got to look at the search terms and trim out the fat. Literally, it’s death by a thousand cuts.”- Janine Do
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The post Buying and Transforming Underperforming Stores appeared first on eCommerceFuel.
