The power of small businesses: loft pens
We review some of the winners of the eBay for Business Awards 2020 to find out what a difference winning has made for their businesses and how the pandemic has impacted them. Today we are looking at Loft Pens.
Entries for this year’s eBay for Business awards are now closed, we are awaiting judgment before we can announce the results.
Power of small businesses
The eBay for Business Awards spotlight many small businesses that depend on eBay for their livelihoods, but it doesn’t end there. For a quarter of a century, eBay has always been a champion of small businesses and this month they launched the Small Business Power campaign, as part of their commitment to help entrepreneurs survive and thrive beyond the market. pandemic. The new support package includes:
- A series of offers for new sellers, including a 5% fee reduction, as well as a 75% reduction on new listing costs for existing and new professional sellers to help them get the most out of online sales
- Coupons and discounts for eBay buyers to incentivize small business purchases
- Investing in training programs to help sellers get the most out of the eBay platform
- Increased investment in marketing our small business vendors through TV, social, print and online media
Loft Pens – 2020 The Young Upstart Award
Sam’s dad first bought him a fountain pen for Christmas, since then he’s been passionate about collecting all kinds of pens – whether rare, vintage or modern. After researching a specific type of pen, Sam realized that there was a gap in the market for high quality but low cost pens and decided to turn to eBay to start his business. He made his first sale within 24 hours of the posting of his ad, and three years later, at the age of 23, he owns over 1,000 different types of fountain pens, ballpoint pens, pencils and supplies. calligraphy. Sam has also developed a line of Loft-branded leather pouches, nibs and ink cartridges.
How did you use the prize money for your reward?
I used the Â£ 5,000 price tag to elevate my business, I did this by purchasing a larger lathe, along with a new compressor and pressure pot. This was very important as it allowed me to improve the overall quality of my handmade pens.
How has your business developed over the past year since the awards ceremony?
The company has definitely grown over the past year. Our eBay store has grown in popularity since the lockdown, which means we are selling more pens than ever before. I am always busy with make and send orders and with the variety options available, I am constantly learning and bringing new products to customers.
Has the pandemic had an impact on your business?
Yes, we have seen an increasing trend in sales. During the pandemic, many consumers resorted to online shopping because all stores were closed, which benefited our business. In addition, many people have discovered new hobbies such as lettering and calligraphy, which has helped our business to grow.
Has eBay been a useful lifeline during the pandemic?
Absoutely. The perks offered by eBay such as the Anchor Store, as well as the presence in eBay’s marketing campaigns have really helped promote Loft Pens, which is reflected in the growing number of orders we have.
What are your future plans for your business?
I really hope one day Loft Pens will become a household name for fountain pens, but I know it won’t be for a long time! So, over the next few years, I would like to become more efficient in my retail and manufacturing operations.
Our next step will be to expand our product line, giving customers more choices and options.
Do you have any advice for future candidates?
It’s not just about your revenue, the volume of products you can sell, or your eBay review score. It’s about how your business has impacted your life and the lives of others through what it does. Good luck to all who apply for the awards!