Jessica's Amazon Store Growth in 2021
Revenue before 8fig
Revenue after 8fig
Jessica’s Entrepreneurial Journey
Achieving entrepreneurial success as an eCommerce seller isn’t easy but the payoff is huge, with perks like financial freedom and schedule flexibility. These benefits appealed to Jessica, an Aussie-based young mother, when she heard an ad for an Amazon Seller course on Youtube. Jessica had spent 12 years as a physical therapist but after starting a family, wanted a new venture that would allow her to spend more time at home.
Nine months after taking the Amazon seller course she heard on Youtube, Jessica launched her first online store. Today, just 2 years later, Jessica is a 7-figure Amazon seller. Her partnership with 8fig helped scale her store 500% in 2021, and more importantly, it gives her more time to focus on what matters most: spending time with her family.
“Having your own business can be very demanding at times but it’s flexible,” Jessica said. “It’s totally changed me and my husband’s lifestyle. We have such a good work life balance now.”
8fig’s funding is designed specifically for online sellers. By taking into account the dynamic nature of the eCommerce industry and analyzing and validating each seller’s growth trajectory, 8fig delivers accurate and adaptable funding on more attractive terms, all without taking equity. This allows sellers like Jessica to unlock exponential growth in record time, while still keeping 100% of the business they built.
The Decision to Take on Outside Funding
Partnering with 8fig allowed Jessica to grow her sales of a niche toy product from $500,000 to $3,000,000 in just 10 months and unlock entrepreneurial freedom. But the decision to take on outside funding wasn’t an easy one.
“I was really scared about taking out a loan,” Jessica explained. “With Amazon you never know what’s going to happen – plus with shipping and logistics so many things can affect your supply chain.” Instead, she decided to ask loved ones for money to fund a relaunch of her successful toy product. The idea was to minimize risk, but then unprecedented inventory delays and a customs hold up slowed sales down.
“We earned around $60,000 from family and friends, but we weren’t able to pay them back as quickly as we wanted to,” Jessica said. “We thought it was the safe option but it sucked. You feel like you’re letting your loved ones down.“
After that, Jessica decided to seek outside funding. But getting a bank loan that made sense for her eCommerce store was impossible. “Since we were such a young business and had only been profitable for 6 months, [lenders] would say ‘okay, we’ll loan you $60,000 and see how that goes.’”, Jessica said. “But the interest rates were really high and we needed a lot more money than they were willing to lend.”
That’s when a friend told Jessica about 8fig.
Why Jessica Chose 8fig as Her Funding Partner
As an entrepreneur, joining a community of like-minded individuals can help you find solutions fast. Another Amazon store owner Jessica connects with regularly had also gone through the cash flow crunch before finding 8fig. This connection is what brought Jessica to our eCommerce funding platform.
“8fig hooked up to our Amazon account and said ‘sure you’re a new business, but look at your growth – we can fund that,’” Jessica said.
In order to get a funding estimate from 8fig, Jessica built a free Growth Plan and linked her Amazon account. From there, 8fig was able to see her store’s growth trajectory and help her build a Growth Plan that maximized opportunity and adapted to market changes.
As Jessica learned more about 8fig’s eCommerce funding solution, it appealed to her for a number of reasons:
- 8fig didn’t require putting up any collateral, such as a house, for security
- 8fig’s cost of capital was lower than other finance companies
- Flexible funding and change requests allowed for more control over the Growth Plan
8fig has allowed us to take money out and live comfortably.”
“8fig was seamless and very quick. Not only that, we could put inventory, shipping, and marketing and almost put as much as you wanted on 8fig,” Jessica said. “I really liked that flexibility.”
Since 8fig will fund up to 90% of a seller’s supply chain, Jessica didn’t have to use all of her store profits to fund product inventory and marketing. Instead, Jessica could use profits to launch new products, expand her store’s reach, and take money out of the business to pay herself. This financial flexibility came in handy when her husband had to take an unexpected career break earlier this year.
“When you have a growing business, it’s hard to take money out because all your money sinks back into growth. On paper, you’re rich, but in reality you don’t get to see that because it gets pumped back into the business, ” Jessica said. “8fig takes away the stress of keeping up with growth in terms of cash flow. It has allowed us to take money out and live comfortably.”
8fig Results: 7-figures and Freedom, Limitless Potential
When Jessica partnered with 8fig in early 2021, she was a $500,000 seller. Today, she’s at $3,000,000 and the growth doesn’t stop here. 8fig is on a mission to get 100,000 online sellers to 8-figures, and Jessica is poised to become one of them. With this extra revenue comes even more freedom to live the life she wants to.
“We’ve seen significant growth because we’re staying in stock. Plus, since 8fig allowed us to fund pre-existing products that were successful, we now have the cash flow to launch new products and we’ve expanded into the UK,” Jessica explained.
Entrepreneurial freedom comes in many ways, such as time, relationships, money, and purpose. As a young mother, Jessica yearned for all of these in the next stage of her career journey and with help from 8fig, she’s achieved them all.
“8fig has been a lifeline for us,” Jessica said. “We now have a peace of mind that our products are going to continue to grow and cash isn’t going to be a limit for us.”
8fig is a great resource for eCommerce sellers no matter where they’re at in their journey. You can sign up for a free Growth Plan today and apply for funding, or read more about how to scale your business to 8-figures (and beyond).