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With passion and small steps to success

Fatih-Kağan Taşkoparan

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The founder of the Liebesschloss-Factory Daniel Krüger in the fynax podcast about his journey to becoming a successful e-commerce business, his pride in craftsmanship and the difficult search for the best tax advice.

A clever business idea is one thing. But successfully establishing an e-commerce business also requires foresight, many small steps and staying power. Daniel Krüger can also testify to this in the latest episode of the fynax podcast "Thanks for Shopping" sing a song. The founder of the Love Lock Factory spoke with fnyax managers Saravanan Sundaram and Nadja Müller about the path and goals of his company. The entrepreneur provides deep insights into the challenges faced by "new starters" in e-commerce.

Today, the Liebesschloss-Factory sends great emotions from Berlin all over the world in the form of hand-engraved love locks. The company started in 2015 with simple means. Krüger, who had previously experienced the high returns rate in the textile sector as a problem, developed the idea of an online store for love locks in his search for customizable products. With success: the personal symbols of affection reduced the returns rate to 0.1 percent.

Krüger and Engravo GmbH, to which the Love Lock Factory belongs, tackled the road to success step by step. After the classic start on eBay to check the demand for today's ubiquitous love locks, a store was gradually created with a lot of passion. Although it was set up with simple means, it was able to set itself apart from the competition by prioritizing the visual presentation, thus laying the foundation for the future.

According to Krüger, the move to Amazon and the leap into international business followed in 2016. However, this also showed that new challenges arise with every step forward. In particular, the tax rules in cross-border e-commerce - keyword one-stop store - showed him how essential qualified and specialized tax advice is for new players in this area.

Despite the fact that the company's love locks now hang on landmarks all over the world, Krüger still sees a lot of potential for Engravo GmbH. So far, "only 2 percent of the potential of gravure-capable products has been exploited". In future, the product range is to be significantly expanded. But despite all the professionalization, the manual work with the help of the company's own small engraving workshop is an in-house process that will be retained. After all, passion and personality have taken the company's own love locks all over the world.

You can find out all about the company's roadmap, the hurdles involved in taxes in e-commerce and an insight into the most curious engravings in the company's history in the current episode of "Thanks for Shopping"which can be heard here free of charge.

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