Business
Limitless Venture Group, Inc. Enters the E-commerce Marketplace
Limitless Venture Group, Inc. Enters the E-commerce Marketplace.
About this update from Limitless Venture Group Inc.
[{"type":"text","content":"TULSA, OK / ACCESSWIRE / July 20, 2022 / Limitless Venture Group, Inc. (OTC PINK:LVGI) ("LVGI" or the "Company"), a publicly traded holding company that provides its shareholders with access to investment opportunities in small and medium-sized businesses uniquely positioned for rapid growth is pleased to announce today that it has signed an agreement with G-Venture Group, LLC., a company which specializes in e-commerce store management services, to create an e-commerce store to be hosted on Amazon, Facebook Market, and our own Shopify store to list and sell the highest volume products with the greatest profit margins on these platforms. LVGI has done extensive market research into this type of arrangement, and we believe it can become a solid revenue generating opportunity with good earnings within a relatively short period of time. LVGI will own 100% of this new business, operating under its newly formed company Limitless Technology Group, LLC, and has solely, internally, financed this acquisition/start-up with the assistance of our CEO Joseph Francella."I'm once again going all-in on LVGI using my personal relationships, credit and personal assets to back this low interest loan and line-of-credit to begin our newest business venture with no shares or dilution associated with it." states Joseph Francella, CEO"In 2017, Amazon's market share of the U.S. e-commerce retail market was 37 percent. As of the date of the last survey completed in 2021, Amazon's market share now accounts for 50 percent of the entire e-commerce retail market's gross merchandise volume (GMV). These are huge numbers and provide extensive opportunities for on-line business development. Based on our estimates and research, we feel that in one year, our stores could generate roughly $500k in revenues. The goal for LVGI is to open 4 of these ecommerce stores over the next 3 years and generate estimated revenues of $5.5M with close to $1M in EBITDA. With the help of G-Venture Group, LLC., we will be able to bring strong revenues to LVGI in a growing new market opportunity." States Devon Diaz, COO of LVGI."I was absolutely elated when Devon and Joe decided to reach out to my top sales specialist, Scott Weingold" states Sachet Gagwani CEO. "Being able to assist a public company in one of the world's top growi...