Bay Sports Update: How We Grew Revenue 10% Over Last Year
This is a follow up story for Bay Sports. If you're interested in reading how they got started, published over 6 years ago, check it out here.
Hello again! Remind us who you are and what business you started.
Expanded our range of kayaks into high-quality drop-stitch inflatables, a new range of ABS thermoformed lightweight kayaks, kids kayaks, and expedition & touring kayaks.
Inflatable kayaks due to their compact size and rigid nature are popular, along with the mid-length touring kayaks which are lightweight and so versatile.
Continue to reinvest in new exciting products to meet the ever-growing demand for kayaks, paddleboards, and camping gear to meet customers' needs and desires. So many new designs, composite materials are being developed, we continue to grow our range to provide the most extensive range so we have something for everyone!
Expanded into the USA to capture the 350 million-strong population, with sights on Europe for 2022. Our high-quality inflatable kayaks and paddleboards are sought after, as we have been able to deliver high-quality packages at price points not seen before, and can provide a really good customer experience with industry-leading warranties giving customers confidence in their purchase.
Tell us about what you’ve been up to! Has the business been growing?
Grown steadily, naturally as we expanded our range so we had revenues approximately 10% per year. We continue to find new products that complement existing ones to provide a one-stop-shop for our customers, allowing them to get everything they need from the one place, and in turn, increasing the average order value.
Keep your customers happy, then your staff will be happy, then your business will organically grow.
New employees handle Customer Service and Orders & Delivery, ensuring from pre-sale to after-sales service is provided - especially important being an all online watersports company.
Getting a digital marketing company on board to develop our brand voice, and allow people on social media to engage with us, as well as discover new products. It isn’t an impulse purchase, so having retargeting and automated email flows to educate, advise and bring customers back to make an informed purchase is key.
What have been your biggest lessons learned in the last year?
Not being able to travel to China due to COVID meant we could not have the level of Quality Control that we wanted, so relying on our partners in China to do the QC checks to the standards we hold has been challenging.
It comes down to expectations and ensuring it is documented so they are held accountable, ensures our customers experience the same high-quality level of products and service they have come to expect of Bay Sports.
What’s in the plans for the upcoming year, and the next 5 years?
Expanded into the USA with our inflatables, and next year into Europe. Big populations and knowing the products are high quality with low warranty claim rates and good support for customers gives us the confidence to grow in those markets. We expect to open warehouses in the USA to offer our full range of products, not just inflatables.
Advice for other entrepreneurs who might be struggling to grow their business?
- Take risks, but calculated risks.
- Invests back into your business, this is key to growth and having a strong position should there be a downturn.
- Customers are #1, without them, there is no business, without a business you have no staff. Keep your customers happy, then your staff will be happy, then your business will organically grow.
Where can we go to learn more?
If you have any questions or comments, drop a comment below!
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Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
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