Businesses have taken a massive hit as a result of the pandemic, but where there have been losers, there have also been some winners.
The lockdown boosted the sales of home cooking kits, meal delivery services, pet adoption agencies, and quarantine-friendly entertainment services for people who were stuck at home for months on end.
According to a recent survey by Business Insider, companies that sold DIY kits for edible goods saw more success during the lockdown because they offered an element of fun and adventure during a time when people didn't have anything better to do than sit around and watch Netflix.
One such company is called The Kombucha Shop, which made $300,000 in April alone by selling DIY kits for making your own kombucha at home. The uptick in revenue is massive, especially if you consider the measly $75,000 the company made the same month last year.
Kate Field, the founder of The Kombucha Shop, says that she noticed a trend during the lockdown as more and more people were getting into baking and being creative with DIY projects. It was then that she got the idea that
Field started the company in 2013, but after seeing such a massive demand for her products this year, she decided to sell it to another entrepreneur, Habib Bakshi, in hopes that his experience with marketing will take the company to new heights of success. The former CEO still hopes to remain a part of the company and help it grow in the future.
If you're considering entering the market or pivoting your business towards selling more DIY kits, here's your blueprint for success.
Watch Your Competitors
While Field was passionate about brewing her own kombucha, she had to try a bunch of kits from other companies before creating her own. Doing this homework was crucial in helping her understand her market and make products that her customers will actually love.
Choose the Right Marketing Strategy
While The Kombucha Company's message is fun and cute, the company changed its marketing strategy during the pandemic to help spread some positivity and hope during difficult times. It also focused on having fun indoors and including the whole family in the DIY activity.
Communicate with Customers
If you expect any delays in the production or delivery of your products, make sure to communicate it with your customers and have some inventory on hand so that you don't stock out.