Finding a gap in the market
In 2009, in order to buy motorbike parts, it had to be sourced abroad or purchased through a mechanic or main dealer. Having identified a big hole in online availability for aftermarket motorbike parts, Stephen Ingham and Helen Coates decided to start their business, F1MOTO.
“Our main focus was dirtbike parts both – performance and maintenance – whilst specialising in the junior market for motocross,” said Helen.
Selling a wide range of dirtbike parts sourced from Australian Importers as well as direct agencies, their business selling specialised high-end quality products began to grow.
They had started trading online through eBay immediately and built an ecommerce website within 6 months of commencement. However, it was not until they moved to Neto that their online sales truly started to flourish.
Room to grow
Before discovering Neto, they found listing batches of products both to eBay and their website impossible.
“Managing orders from all channels and shipping were manual, time consuming and difficult to track. We had no system for capturing email addresses and marketing information and no reporting function for KPIs.”
Making the move to Neto
Neto has not only helped F1moto improve sales but streamline processes and reduce overhead costs.
“Neto’s holistic approach to solving administrative problems has played a major factor in our business growth,” said Helen.
“We have been able to grow our business massively without requiring lots of staff to cope with paperwork.”
“We have been able to increase our product offerings from just under 1,000 to over 20,000 and can manage these products effectively without a large team of people. Changes to our products and new listings are quick and easy to upload.”
“We currently have Saasu integrated with Neto and use Australia Post for the bulk of our shipping. Having Neto integrate with our accounting package saves a huge amount of time in processing and administration.”
“Neto’s flexible functionality copes with items shipped from our warehouse and also drop shipped from our suppliers – allowing us to fulfil our customers’ requirements quickly and cost effectively.”
“Neto is intuitive, easy to use and flexible enough to handle a range of different requirements. We are constantly finding new features to help us grow our business and cope with that growth without the constant need for additional staff and costs.”
What was the result?
“F1moto has grown in every measurable way since we started with Neto in 2012,” said Helen.
“Our turnover has grown from $680,000 year end 2013, to $1.317 million in year end 2015.”
“Our inventory has grown from $80,000 to $180,000 year end 2015 with the total orders processed growing by 150% in 2013 to 2014 and 25% 2014 to 2015 – with a total of 8,425 orders processed from our website, eBay store and phone.”
“We currently average nearly 500 new customers per month and have just under 10,000 customers in our mailing list grown from 1800 at year end 2013.”