Executive Summary

This is a France-based ecommerce store (site on Shopify) selling polarized sunglasses and related outdoor/sport eyewear. The business began activity in 2023 (zero months early 2023 then ramp) and reports annual revenue ≈ €152,950 and annual profit ≈ €75,344 (reported profit margin ~49%). The model is described as a mix of dropshipping and ecommerce, and the Flippa summary positions the product category as high-momentum (“the hype on polarized sunglasses is real”). Monthly P&L shows a growth curve in 2023 with a strong holiday spike (Nov 2023). Seller uses a profit multiple 1.3× and revenue multiple 0.6×.

Why this is interesting: high reported margins, product category with proven global demand, and an apparently low-complexity digital storefront on Shopify. The business could scale rapidly if gross unit economics, supplier reliability, and ad performance verify.

Primary caveat: extraordinarily high reported margin for a dropshipping model (49%) is unusual and must be validated. Also, key metrics are missing publicly (AOV, conversion rate, CAC, number of customers/orders, email list stats). Proceed to a structured diligence phase before any valuation or term sheet.

Key insights

• Rapid revenue ramp in 2023: gradual growth from March → Nov 2023 with high months in Aug–Nov; suggests seasonality and/or successful marketing campaigns in H2.

• High reported profitability: 49% margin on a dropshipping/mix model is unusually strong and could indicate (a) premium pricing, (b) very favorable supplier pricing, (c) omitted costs in the public P&L or some combination. Verify carefully.

• Dropshipping + ecommerce mix: reduces inventory carrying risk but increases reliance on suppliers and shipping partners; it also creates potential for longer delivery times and returns complexity.

• Product category momentum: polarized sunglasses have sustained consumer demand for sports/outdoor and fashion; good potential for repeat buyers (accessories) and for upsells (cases, lenses, cleaning kits).

• Seasonality & marketing effectiveness: the monthly ledger suggests concentrated sales months. Understanding which channels drove those spikes is essential to forecastability.

Detailed analysis

Website performance & metrics

Website Speed (technical health)

• No Lighthouse/Core Web Vitals data provided. As a Shopify store, speed is influenced by theme, image sizes, and third-party apps.

• Action: run Lighthouse on mobile/desktop and request Google Search Console access. Typical priorities: compress/serve modern image formats, defer third-party scripts, and use CDN/caching.

Product variation & number of SKUs

• Public listing notes polarized sunglasses and broader sports/outdoor items. SKU count and SKU-level margins were not provided. For dropship models SKU breadth can be large; confirm SKU list, average SKU margin and best sellers.

AOV & Customer Lifetime Value (CLV)

• AOV not provided. Given sunglasses price ranges, estimate AOV likely €20–€80 depending on product mix; this is speculative; needs Shopify order data. CLV requires cohort data (repeat rate & purchase frequency).

Repeat customer rate

• Not published. In dropship/fast-fashion categories repeat rate can be low unless brand/quality/returns policies encourage loyalty.

Website conversion rate

• Not published. Industry benchmark for fashion/accessories: ~1–3% overall; best practices can push higher for targeted traffic.

Website design & presentation

• Shopify storefront described as user-friendly. Quality of product imagery, lifestyle shots, and trust signals (reviews, guarantees) will materially influence conversion for eyewear (where perceived quality matters).

Brand positioning & customer sentiment

• Positioning implied: trending, value-priced polarized sunglasses for sports/outdoor. Public Trustpilot link present on listing but no aggregate score included. Check verified reviews to assess returns, shipping complaints, and product claims.

Marketing & efficiency / CAC & scalability

• No ad account metrics provided. The business clearly scaled at points (per monthly revenue); you need to know which channels (paid social, Google, affiliates). High margins suggest room to scale paid acquisition, but CAC sensitivity must be verified by channel and creative.

Product offering & repositioning potential

• Options: private-labeling best sellers to increase margin, bundle offerings (case + lens cleaner), introduce higher-margin replacement lenses or prescription partnerships, or reposition as premium lifestyle brand (if product quality justifies it).

Finances

Reported public numbers:

• Annual revenue: €152,950

• Annual profit: €75,344 (49% margin)

• Monthly average revenue: €12,745; monthly avg profit €6,278 (per listing).

• Monthly breakdown (2023) shows growth: notable peaks Aug–Nov 2023 and consistent positive profits in later months. January–March 2023 initially low/zero.

Red flags/verification needs:

• 49% margin is high for dropshipping; confirm whether expenses such as shipping, returns, VAT, marketing, payment fees, marketplace fees, and subcontractor/agency costs are fully captured.

• Request merchant processor statements (Stripe/PayPal), bank statements, and full P&L with line-item expenses (COGS, shipping, advertising, returns, transaction fees, platform fees, software, outsourcing).

• Reconcile revenue with Shopify order export and marketplace (if any) payouts.

Valuation multiples

• Seller uses profit multiple 1.3×, which yields a low headline EV relative to profit. This could reflect small absolute profit base, transfer risk, or buyer/seller expectations. Revenue multiple 0.6× also conservative.

Marketing (Paid & Organic)

Paid: No read-only ad access provided. Critical to obtain Meta/Google ad accounts to audit ROAS, CPA and creative performance. The 2023 spikes indicate successful paid pushes. Determine if those are repeatable.

Organic: SEO and content potential for sunglasses is moderate; product pages should be optimized for purchase intent keywords (e.g., “polarized sunglasses sports,” “UV protection sunglasses”). Email marketing and retention are unreported. Please request list size and performance.

Marketplace & channels: dropshipping suppliers sometimes use marketplaces; verify if any marketplace sales contribute and percentage of revenue.

Recommended growth levers:

• Validate scalable paid channels (Meta, TikTok, Google Shopping).

• Implement/revamp email flows (welcome, cart abandonment, post-purchase cross-sell).

• Build higher-conversion product pages (detailed specs, UV protection tests, clear sizing, reviews).

• Consider influencer/performance partnerships targeted at outdoor and sport audiences.

Operational Efficiency

Fulfillment & suppliers: dropshipping reduces inventory risk but increases dependence on supplier lead times, product quality, and shipping reliability. Obtain supplier list, typical lead times, return policies and MOQ options for private label.

Returns & customer support: sunglasses are sensitive to fit/quality; a high return rate would materially affect margins. Request returns rate and handling costs.

Systems: Shopify + analytics stack presumably in place; request access to order flows, fulfillment dashboard, and any third-party integrations (dropship automation, tracking, returns portals).

Customer data & relationships

Customer base & email list: Not provided publicly. Determine number of customers, repeat buyer counts, email subscriber count and engagement metrics (open rates, revenue per email). Customer service quality can be inferred from Trustpilot reviews. Pull and analyze reviews for recurring complaints.

Retention levers: Warranty/guarantees, product care guides, loyalty discounts, and bundling are practical levers to increase repeat purchases in eyewear.

Legal & compliance due diligence

Certifications & product safety: Sunglasses making UV-protection claims should meet regulatory standards and be supported by lab testing (e.g., UV400 rating tests). In the EU, sunglasses fall under personal protective equipment and/or consumer goods standards depending on claims. Please obtain test certificates and any CE/standard compliance documents where required. If the business sells into other territories, verify compliance with local standards (e.g., FDA for medical claims in US is not directly applicable, but labeling rules still matter). If unsure about standards, ask the seller for lab test reports.

Intellectual property & brand: confirm ownership of domain and trademarks. If private-labeling is planned, check for potential conflicts.

Consumer law & VAT: verify VAT registration, VAT handling on cross-border sales, returns policies compliant with EU consumer protection laws, and any outstanding tax liabilities.

Dropshipping liabilities: ensure supplier warranties and liability handling (who covers defective products, shipping, customs). Get supplier agreements in writing.

Challenges Identified

1. Unusually high reported margins for a dropshipping model (49%). This is must verify. Could indicate omitted costs or extremely favorable supplier relationships; both scenarios change valuation.

2. Supplier & shipping dependency. If the business relies on overseas suppliers with variable lead times, scaling and customer satisfaction may be constrained.

3. Lack of granular public metrics. No AOV, CAC, conversion rate, order count, or email stats publicly available. This increases valuation uncertainty.

4. Returns & quality risk for eyewear. Product defects or mismatched customer expectations can cause reputational damage and costs.

5. Seasonality & marketing concentration. Monthly sales spikes suggest dependence on campaigns or seasonal demand. Forecasting and smoothing revenue may be challenging.

6. Regulatory/compliance exposure. Without certificates for UV/optical claims, product liability risk exists; selling safety equipment without proper testing is risky.

Recommendations

Immediate (pre-offer). Must request):

Ask the seller to provide the following before any LOI / offer:

1. Shopify order export (CSV) for at least 12–24 months (orders, SKUs, gross sales, discounts, refunds).

2. Merchant statements (Stripe/PayPal/Shopify Payments) for same period.

3. Full P&L & trial balance with line-item expenses (ad spend, shipping, returns, bank fees, software, contractor fees).

4. Supplier list & invoices (last 12 months), including unit costs and shipping terms (DROPSHIP vs pre-purchased).

5. Ad account read-only access (Meta, Google, TikTok) and creative library.

6. Returns & warranty log and RMA policy performance (return rate % by month).

7. Customer counts & email list export and email performance (open/CTR/revenue).

8. Product compliance docs/lab tests proving UV protection and any necessary CE/safety markings.

9. SOPs and fulfillment flows plus a list of contractors/agencies.

10. Evidence of Trustpilot reviews (export) and any legal disputes or claims.

Near-term value creation (0–12 months after close)

1. Validate margins & unit economics. If margins hold, scale paid acquisition incrementally with rigorous tracking of CAC → LTV.

2. Test private label for top 2–4 SKUs. Moving from dropship to private label or hybrid fulfillment can increase margins and control quality.

3. Implement robust CRO improvements. Better product imagery, technical specs, fit guides, user reviews and faster site speed.

4. Build retention program. Email flows, warranties, and accessories bundles to increase CLV.

5. Secure supplier SLAs & backup suppliers to reduce single-source risk and lower unit costs with volume.

6. Certify products with lab UV tests and publish certificates on product pages to reduce returns and increase perceived quality.

Deal structure suggestions

• Given data gaps and category risk, prefer a lower upfront cash price + performance-based earn-out tied to verified revenue/profit and retention of seller support for handover (30–90 days).

• Use escrow for inventory claims if any inventory is transferred post-close; include reps & warranties about supplier relationships and product certifications.

Suggested buyer questions to include in the data request

• Provide Shopify export + merchant statements for the last 12–24 months (orders, refunds, chargebacks).

• What is the AOV, number of customers, and total number of orders (monthly)? Please provide cohort LTV or at minimum repeat purchase % by cohort.

• Provide ad spend by channel and ROAS metrics for each major campaign.

• List suppliers, their agreements, lead times, and whether dropship or pre-purchase is used. Are there minimums or exclusivities?

• Provide proof of product testing and compliance for UV / optical claims and any CE or local safety standards.

• Provide a list of returns in the last 12 months and their cost impact.

• Is any intellectual property (trademarks) registered? Who owns the domain(s)?

• Are there outstanding liabilities, legal claims, or chargebacks in process?

Conclusion

This brand presents a potentially attractive, cash-generative ecommerce asset in a high-demand product category. The combination of an apparently high margin and a clear product market (polarized sunglasses) creates upside for a buyer that can (a) validate the public financials and margin sustainability, (b) professionalize supplier relationships and certifications, and (c) scale predictable paid acquisition while improving retention.

However, significant diligence is required because: (1) the reported 49% margin is unusually high for a dropshipping mix and needs reconciliation with full expense detail; (2) product safety/certification for eyewear is material and must be verified; and (3) critical growth levers and CAC data are missing. If the core metrics verify, a buyer with operations and brand-building experience could scale Turbo Polar profitably; if not, the business may require restructuring (private labeling, supplier renegotiation) to reach projected margins.