**Key Highlights**

Closet Spice, an online retailer, has carved out a niche in the competitive Home market. Established in 2015, this e-commerce business has swiftly risen to prominence by leveraging direct shipping and a wholesale strategy. With a meticulously curated selection of storage & organization products, Closet Spice offers consumers stylish and practical solutions for closet organization and decor. The company’s profitability is fueled by its e-commerce operations and the efficiency of its wholesale model, ensuring a seamless experience for customers from browsing to delivery.

**Operations**

Central to Closet Spice’s revenue-generating strategy is its multi-channel approach that maximizes reach and efficiency. The e-commerce store’s primary sales channel, its website, powered by Shopify, features a user-friendly interface that makes online shopping intuitive and enjoyable for its customers. The online revenue is highly supported by Amazon (US & CAN), Bed, Bath & Beyond (US), Walmart (CAN), and Today's Shopping Choice.

Another pivotal operation channel is Closet Spice’s wholesale model. By selling products directly to big box stores such as Winners, HomeSense and Marshalls, the company doubled its revenue through this model. This lean approach allows Closet Spice to offer competitive pricing while maintaining strong profit margins.

Today, Closet Spice products are sold through a diverse distribution mix:
• 45% Wholesale: Trusted partnerships with HomeSense, Winners, and Marshalls across Canada.
• 45% Amazon: Strong reviews, bestseller placements in the hanger/closet category. A well qualified and vetted Amazon account that is 9 years old, never flagged and operated under a white hat strategy.
• 10% Shopify: Direct-to-consumer sales via closetspice.com with repeat customers and organic growth.


**Customers**

Closet Spice targets a diverse customer base, ranging from homeowners seeking functional and aesthetic enhancements to their closet spaces to interior designers and contractors looking for innovative organization solutions. The company prides itself on understanding the nuances of its customer demographic, focusing on delivering items that prioritize quality, design, and functionality. Customer satisfaction is further enhanced by the company’s commitment to delivering items swiftly and reliably through its direct shipping model, fostering trust and encouraging repeat purchases.


**Financials**

Since its inception in 2015, Closet Spice has maintained a steady trajectory of growth, buoyed by its strategic operations efficiencies. The business model, underpinned by e-commerce and a wholesale model, has enabled the company to reduce operational costs. Through careful financial management using QuickBooks, the company ensures transparency and accountability in its financial reporting, making it an attractive venture for potential investors. Despite the challenges of a rapidly evolving online landscape, Closet Spice remains well-positioned to sustain its upward momentum and continue its expansion in the Home market.



**Growth Opportunity"

Closet Spice has a lot of potential for growth opportunities with financial support. Bulk ordering for inventory stocking and decreasing the cost of goods, adding new wholesale suppliers such as Loblaws, Costco & Walmart, which were previously declined due to low stock available. Email marketing, with 800 mailing list, it's an easy $200-$500 per month revenue, which doesn't get utilized at all. Brand awareness, with current 0 market efforts through Google or Social Media, Closet Spice can leverage this new aspect of revenue with brand reach. Moving to a combined warehouse facility, the current storage is held in a self-storage which is at a premium rate.