Flipville, trading online as OGD Commerce is a specialist ecommerce platform, focusing on household fragrances and cleaning products. Operating for nearly five years, and led by a director with a background in running cleaning businesses, Flipville has plenty of experience to help guide its course. Flipville is seeking to be at the forefront of household cleaning online retail, which it achieves through competitive pricing and good customer service.
Delivering a great service at an amazing price
Welcome to Flipville, where cleanliness meets convenience. In today's fast-paced world, maintaining a tidy home is essential but often time-consuming. That's why I founded Flipville, an innovative digital commerce platform designed to streamline the process of purchasing household cleaning products. My background is in running cleaning businesses, so I’ve years of experience on the other side of this industry in order to ensure that Flipville is the most competitive e-commerce platform for cleaning products. The business started with zero funding and we are now turning over 7 figures yearly with a GROSS profits of 6 figures for the past 2 years. We have been doubling in size each year since the beginning too.
The household cleaning products market is ripe for disruption, with an increasing demand for efficient solutions that align with modern lifestyles. Flipville stands out by offering a curated selection of premium cleaning products from trusted brands, all conveniently accessible through our user-friendly online platform. From eco-friendly cleaners to advanced disinfectants, we cater to diverse consumer preferences and priorities. We also pride ourselves on good customer service, appreciating that our consumers are the keystone keeping our business aloft. By giving them a service that they deserve, we can continue to operate and gain more loyal customers.
Since our launch, Flipville has experienced rapid growth, attracting a loyal customer base and forging strategic partnerships with leading cleaning product manufacturers. To fuel our expansion efforts and capitalise on emerging market opportunities, Flipville is seeking a £54k investment to scale operations. Join us in revolutionising the way households approach cleanliness and hygiene. With Flipville, the future of home cleaning is brighter than ever.
Credit commentary
The directors Yanislav Doynov and Octavian Guse are providing a personal guarantee, which means should the business fail and have insufficient assets within the business to repay the loan, we can look to the guarantor(s) to repay any shortfall on repayment. There have been no CCJs for the business or director. Our assessment of risk is There have been no CCJs for the business or director. The Equifax score and grade, which we use to assess risk, are based on the 2023 accounts. The company has a strong EBITDA of £58,988, indicating enough funds to repay loans. Turnover surged by 75% from 2022 to 2023, demonstrating significant growth. Positive cash flow is evident from recent bank statements, with a balance of £45k in February. The TNW is around £7,810k in 2023, reflecting the company’s stability. Moderate 13% net gearing suggests manageable financial risk. Both director salary and net cash from financing activities increased, indicating positive financial trends. Notably, 2023 marked a significant turnaround with a net profit of £58,988, after a net loss of £57k in 2022.
Inflation Risk
As the majority of the business’s lending is at a fixed rate, any potential interest rate increases will not have an immediate impact. The company has stated that inflation will not significantly affect them, as they sell essential items that are used on a daily basis such as home, cleaning, and laundry products. However, in the event of inflation, the company will raise their prices, just like the rest of the market.
Loan
