Islebuy is a Classified Ads website & magazine on the Isle of Wight. We boast 30,000 registered users on our website and print/distribute 8,000 magazines locally each month.
Islebuy is a Classified Ads website (www.islebuy.co.uk) & magazine on the Isle of Wight.
We boast 30,000 registered users on our website and print/distribute 8,000 magazines locally each month.
- The Website
The website itself is one part of the business and is completely custom made - we have an agreement with a developing agency in place for the maintenance and any upgrades/updates required.
Currently, the total number of registered members is over 30,000. The population of the local area that we cover is around 120,000 - therefore a good quarter area covered.
- The Magazine
Due to limited advertising solutions on the Isle of Wight to reach new potential visitors, we decided the best and most affordable way to proceed would be to make our own publication.
This was launched in November 2016 with the first issue turning a profit immediately and every issue since also turning a profit, even with very minimal sales input (now on our 12th issue).
You can view the publication online, here:
We have 6, 12 and 24 month agreements with both national and local advertisers currently. This is guaranteed revenue to come in over the next 22 months.
- What the Business Needs
This business would benefit from someone who is already in the advertising/marketing industry, particularly if you already have existing clients who may wish to promote to this area.
This is not essential, but a good grasp on sales would be hugely beneficial.
An ideal person would have good knowledge of this area, as well as potentially living here to keep distribution costs down, most of this can be managed in-house.
- The Reason for Sale
I am just one person and have limited time. I can see the potential to grow and want the business to grow, but without a dedicated sales team and plenty of time I cannot expand as quickly as I believe this business has the potential to do.
Growing from nothing to 30,000 users in 2 years is a feat in itself, I just want to see as much traction made on other aspects of the business as the rest.
- Location of Business
I moved to Australia for 6 months and successfully ran the business completely remotely from there during this time, the only assistance that was required was for the storage and distribution of the publication.
This business can be managed from anywhere and if you are good with technology, your costs can be minimal when making simple design changes to the magazine, sales calls and such as one person rather than having the overheads of a whole team.
I have a registered business office, however the tenancy of this office space would not be passed with the business. This will be retained by myself for other projects that I aim to do for the future.
The primary revenue and profit currently comes from the magazine, however the website is currently monetized with Adsense.
The potential is there to sell advertising on the website or monetize it in other ways.