- Avg. revenue /month$3,308
- Avg. sessions /month5,111
- Avg. profit /month$500
Why this business was started
My partner and I started the business at the start of the COVID pandamic. We both had reduced working hours, due to the economic impact and we wanted to start a side business to make up the loss in wages. We both had a passion for home decor products but we wanted a business with limited upfront capital.. hence our lovely home decor dropshipping business was born!
The reason of selling this business
We have decided to sell as we want to pursue our home renovation business and we're now back at work with full time hours.
What's involved in running this business
We fell in love with the simplicity of running a dropshipping business.
Our main priority when running this business was marketing our brand and products, and ensuring as much traffic and conversions as possible. Our main marketing was via Facebook and email.
On top of running the marketing day to day, we also had to fulfil customer orders which we did via our sourcing agent in China. Our agent would access our Shopify store and process the orders for us each day and ensure each customer had their item shipped efficiently with updated tracking information.
The agent had no contact with our customers and we were always the face of the business so we would deal with any customer service or support queries. It is a super efficient way to free up time by using a great agent to fulfill/ship our customer orders for us. We then had time to concentrate on marketing and growing our revenue!
Traffic and Performance
- Avg. revenue /month$3,308Verified
- Avg. sessions /month5,111Verified
- Avg. profit /month$500
- Profit Margin16%
- Avg. sales /month165
- Shopify plan
- Email marketing and Shopify Apps
Physical inventoryNot Included
Logo and branding assetsWe can provide this via email and package file
Personal support after saleNot Included
Product photosWe can provide this via email and package file
SuppliersCurrently using a sourcing agent in China to get faster shipping and cheaper product prices. Happy to connect and ensure this relationship continues.
How to grow this business
The business is primed to be taken to the next level. We've only scratched the surface in getting the brand/business exposure, so there's a number of opportunities to grow!
- We have only advertised on Facebook using static stock images of the products. We've received great results so far using this, however significant conversion and profit margins can be increased using professional product images
- Capitalise on video advertising to improve ROI
- Tap into relevant influencers to build the brand and revenue
- Scale internationally, as we have only advertised in Australia predominantly and haven't touched massive overseas markets such as USA, UK and CA
- Increase the product catalogue to increase average order value and appeal to a wider market. This will open up more revenue opportunities
- Bring inventory in-house to speed up shipping times and increase conversion rates
- Capitalise on the growing email list and regularly use email marketing for free revenue
- Tap into marketing on Pinterest as this is a rather uncluttered environment that will provide more efficient CPM's and is very relevant for this niche as people seek for inspiration in their home
Skills to have
We were new to dropshipping and running an e-commerce store so you can certainly learn the skills required to run this business if you don't have them already!
The first skill we learned and that was important was sourcing and researching products within our Niche. We used Youtube and Google trends to find out what products were working within our niche and sourced them accordingly.
The other skill we learned and is certainly important for driving revenue, was Facebook ads manager. This seemed like a daunting task but we got the hang of it easily and again researched techniques and tutorials via youtube to improve within this area! We definitely recommend looking into different marketing channels and mastering these to drive the business forward.
We believe there's amazing growth to be had by marketing on Pinterest within this niche :)
The final element where knowledge/skill would be important is customer service. You'll receive a number of customer queries throughout the week so you'll need to ensure you have a customer focus and knowledge to ensure you're satisfying the customer and helping them with any queries they might have. If this isn't your strongest skill then that's not a worry as there's plenty of Virtual Assistants who can help you with this task and skill!
Overall we learnt all of our skills throughout our journey and has been an amazing experience learning how to run a business which we can apply to our next challenges!!
Our features for a secure experience
- Verified revenue and traffic
- Secure messaging platform
- Escrow payment system
- Dedicated migration team
Why use Exchange?
Exchange is the largest and fastest-growing marketplace for Shopify e-commerce stores
Verified listing data
The revenue and traffic data that you see on each listing is pulled directly from its Shopify account. This means that the data has been verified. Exchange reviews and monitors listings for thorough and accurate information.
Secure messaging platform
You will be able to communicate with sellers via a secure messaging platform. After you log in and request information from a listing, sellers are notified and have the ability to respond. When you are ready, you can make an offer.
Encrypted payment capture
Exchange and Escrow.com have partnered together to provide you with safe transactions that have bank encryption, making sure that payment is securely captured. Escrow.com ensures that its users pass verification checks before transactions can proceed.
Take time to inspect the business
Once you submit payment to Escrow.com and the payment has been secured, the funds are held until you confirm that all assets received are as negotiated. You can use the inspection period to ask the seller any extra questions about the business.
Safe store transfer
When the transaction is finalized, the dedicated migration team at Exchange will begin the process of making you the new owner of the store. Buyers and sellers will be notified via an email from the Exchange team once store transfers have been completed.
Post-purchase 24/7 Shopify support
Once you log into your Shopify account for the first time and choose a subscription plan, Shopify Support Gurus are available 24/7 to help you with the settings of the store.