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Buying An Ecommerce Business: Key Strategies For A Successful Purchase
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In this episode of the 7 Figures and Beyond Ecommerce Marketing Podcast, Greg Shuey welcomes Gentry Jensen of Cordova Outdoors to discuss the intricacies of purchasing an e-commerce brand. Gentry shares his journey from a Navy SEAL to a successful brand owner, highlighting his transition from corporate finance to owning Cordova Outdoors, a company specializing in high-quality coolers. The discussion delves into the considerations for buying an e-commerce brand, focusing on assessing barriers to entry, evaluating financial health, and identifying growth opportunities.
Gentry emphasizes the importance of understanding a brand's barriers to entry, such as existing manufacturing capabilities and intellectual property. For Cordova, the substantial investment in manufacturing equipment and unique product features, like patented lid locks and durable handles, provided a competitive edge. He also discusses the impact of the COVID-19 pandemic on the acquisition process, noting how the pandemic's disruption affected the company's operations and necessitated a strategic approach to due diligence.
The conversation further explores the due diligence process, including verifying financials, assessing customer relationships, and evaluating potential growth channels like Amazon and corporate partnerships. Gentry highlights the importance of leveraging existing customer relationships and exploring new revenue streams, such as corporate gifting and OEM partnerships. The episode wraps up with insights on negotiation tactics and the challenges faced during the acquisition process, offering valuable lessons for anyone considering buying an e-commerce brand.
Episode Links
Greg Shuey LinkedIn: https://www.linkedin.com/in/greg-shuey/
Gentry Jensen LinkedIn: https://www.linkedin.com/in/gentry-j-17b42a9/
Cordova: https://cordovaoutdoors.com/
https://www.stryde.com/how-to-buy-an-ecommerce-business/
Chapters
1. Acquiring an E-Commerce Brand (00:00:00)
2. Assessing Business Value and Opportunities (00:09:02)
3. Assessing Business Acquisition Process (00:17:58)
4. Navigating Unexpected Challenges in Business Acquisition (00:23:36)
5. Building a Successful E-Commerce Brand (00:29:47)
39 episodes
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