A fitness enthusiast who started his business at a bank for only £ 7,000, now has £ 5 million in sales.
34-year-old Chris Billington, who lives in Milton Keynes with his partner and baby daughter, has seen gym equipment company Muscle Squad gaining momentum since its launch in 2017.
Last year, the gym remained closed for several months, resulting in a significant increase in sales from people exercising at home during the blockade. Coronavirus crisis.
“I’ve always been interested in fitness,” said up-and-coming entrepreneur Chris, who worked in the gym industry for 10 years before Muscle Squad.
He was hired by several major retailers to help develop and create a variety of products, but was left to start advising companies on how to build an e-commerce business.
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Here Chris began to learn more about online sales and created Muscle Squad to test and learn the theory and strategy of digital sales.
The website started out as a hobby, but soon sales grew and Chris realized that he had a serious business in his hands.
After launching MuscleSquad with his own money (including £ 4,000 for the first stock container, £ 1,000 for the website, and a down payment for the storage locker), he was also able to raise £ 300,000 through the government’s corporate investment scheme (which included a down payment for storage lockers). EIS).
EIS supports the growth of a company by offering tax breaks to individual investors who buy shares in the company.
He states: “What started as a hobby worked with a passion for fitness and quickly accelerated into an unblocked full-time business.
“I locked myself in a room, built a website, created an advertising campaign, and understood the marketing philosophy of a business.
“When the first inventory arrived, I added the products to the website and listed them all on the website. eBay..
“I still remember how I felt when I received my first order. Since then, we have continued to drive profits and reinvest in order to offer a wider range of products to meet our customers’ needs. . “
In the first year, the Muscle Squad, which operates only online, earned £ 180,000 and rose to £ 5 million last year.
It also expanded from a one-person business to a team of 14 and two non-executive directors, and Chris became the first employee in August 2020.
Chris has a staff member (stock manager) in Australia after moving us to Australia while working in business.
He states: “Employing early people felt like a big leap, and to be honest, it was pretty nervous.
“I remember telling my first employee, Darren, that he might have a job this month, but he’s not sure about the next month. There are few most motivational speeches for a new starter!”
Chris argues that not accepting pre-orders and selling only what is in the warehouse is part of the reason behind his success.
This prevented customers from waiting for orders, and “Covid-19’s logistical challenges” helped strengthen this strategy, he says.
In the future, Chris wants to create a MuscleSquad app that allows people to track their fitness progress. He also wants to expand his service to Europe.
Product prices start at £ 10 with two 1kg weights and go up to £ 200 with 32.5kg adjustable dumbbells.
For larger equipment, you’ll pay £ 2,150.00 for a multifunction rack and £ 1,200 for a bench, barbell, and weight package.
In addition to selling equipment, MuscleSquad also has a free training plan that you can download online to help with your training.
He states: “The blockade really proved that we don’t all have to be in one place all the time. In the future, we also plan to bring our brand to Europe.
“We’re a young company and we barely walk when it’s closed, so it’s hard to see what’s going on normally.
“We’ve seen incredible sales growth, but it will soon slow down and maintain customer reputation.”
Fitness enthusiasts who started their own business for £ 7,000 now bring £ 5 million a year
Source link Fitness enthusiasts who started their own business for £ 7,000 now bring £ 5 million a year