Candid Conversations With Our FBA Sellers
A conversation with Eva Maxfield, founder of Florensi, a yoga, sleep, and meditation accessories brand.
Tell us a bit about your entrepreneurial journey and the history of your company.
I’ve always had aspirations to own my own business. My journey officially began in 2015 when I quit my career in corporate finance to finally make it happen. Initially, I started a jewelry brand. Then, after dealing with a few personal issues, I decided to focus more on finding peace within myself. I tried meditation but I found it difficult to focus and relax, so I looked for tools that would help me feel calmer and be more productive. After an unsuccessful search for quality meditation aids, I decided to make my own, and that’s what led to the creation of Florensi.
Why did you choose to sell your brand?
Managing your own business is challenging, even more so when you’re pregnant. It began to take a physical and mental toll, and at 8 months pregnant, I wanted more time to spend with my baby and fully enjoy being a mom. Florensi was the most mature out of all my businesses, and I decided it was ready to sell.
How did you hear about Forum Brands, and what led you to choose us?
I heard about Forum Brands from a friend of mine, who previously sold his business to Forum. We were both in a group called Million Dollar Sellers and he had amazing things to say about Forum and how seamless the acquisition process was.
When I was ready to sell Florensi, my friend introduced me to Brenton. I was open to other buyers at the time, but what drew me to Forum Brands was their great communication. From the start, Brenton was very proactive about the timeline of the selling process. Forum also understood my needs. I needed to close fast, make sure operations could be picked up after the deal closed, and get a fair market value – all before I gave birth. Forum’s team of ex-Amazonians also helped me feel secure in the selling process since they really understood the industry landscape and I could trust them to effectively grow and scale my business.
What should an e-commerce entrepreneur think about when deciding to sell?
The two main things an e-commerce entrepreneur should think about are documenting and organizing your supply chain and knowing your numbers.
The supply chain is a big challenge for many e-commerce businesses because there are so many parties involved, making it easy to lose track of the process. You also want to get your business’ financials in order. You need to know your ad spend, ROI, and what products comprise what percentage of your revenue. Knowing these things and keeping yourself organized will help make the transition go smoothly.
Once you have these items taken care of, you should then look for a buyer you have chemistry with and one that will be able to respect your selling timeline. Having chemistry with the team taking charge of your business is important as a seller because you want to feel that your business will be in good hands. A buyer that respects your selling timeline is so valuable and contributes to making the process hassle-free and less stressful.
What does it take to become a successful e-commerce business owner?
To be a successful ecommerce business owner you have to be comfortable with change. The field of ecommerce is constantly transforming. There may be a drastic change in the way the supply chain works, or your host site can suddenly change its policy regarding customer returns. Either way, as an ecommerce seller, it’s important to be a quick learner and open-minded to cope with these constant adjustments.
From a brand perspective, I think you need to be creative and understand your customers’ needs. You need to think of creative ways to build chemistry with your customers, especially when you’re an online business. This could mean utilizing YouTube videos, Instagram, or even traditional advertising techniques like newsletters and email marketing to develop a relationship with your customer base.
What does this sale mean for you and your personal and professional future?
Thanks to the sale, I have been able to spend more time with my baby and relish the experience of being a first-time mom. The funds from this sale will also allow me to buy my first home in an ideal location.
Professionally, I’ve been able to reorient my focus onto expanding my other businesses. Now I have more time I can pour into my other entrepreneurial endeavors and scale them into successful brands like Florensi.
If you enjoyed reading the above Q&A with an entrepreneur who sold their FBA business, be sure to follow us as we publish more candid conversations with our sellers.