- Avg. revenue /month$7,174
- Avg. sessions /month1,280
- Avg. profit /month$1,100
Why this business was started
[PRIVATE INFO] is focused on helping fellow boaters purchase the small watercraft and accessories they desire in a low stress environment through an informational and easy to navigate web store. The business has a strong identifiable brand in the small boat segment while striving to provide detailed product information and outstanding customer service. The brick and mortar boating stores are known for high-pressure sales tactics that are driving customers to online stores in increasing numbers.
The reason of selling this business
[PRIVATE INFO] is searching for an enthusiastic buyer that understands the boating industry and is ready to grow an established web brand. The current owners have a new project about to set sail and are ready to support new owners in their Wee voyage to success.
What's involved in running this business
[PRIVATE INFO] is not a hands-off business and it does require providing customer service in order to keep customers happy and telling their friends and family that [PRIVATE INFO] is fantastic! Products on [PRIVATE INFO] are expensive, which means lots of revenue/order (Average Order Value “AOV” in 2019 is $1,817 and in 2018 it was $1,477), but it also means that customers will sometimes have questions before they pull the trigger on an order. The website has lots of information on the products but customers sometimes just want to hear a human voice, or get an email from a real person, before they authorize a credit card purchase in the thousands of dollars. This doesn’t necessarily take a lot of time but it does mean you cannot ignore the business for days on end without risking lost sales.
The current advertising campaigns are all running in Google Ads, no Facebook ads at the moment, and have been well optimized with current ad spend of about $262/month total (2019 average per month through 10/31). During the same period, sales were $116,396 resulting in a Return On Ad Spend (ROAS) of $43.43. For comparison, total add spend in 2018 was $2,801 and sales were $85,548 resulting in ROAS of $29.54. That is a 47% increase in ROAS! The current advertising campaigns only need to be updated when new products are added to the store. There is always room to learn in the fast moving area of PPC advertising but it is clear that the current campaigns are performing very well.
To continue growing the stores revenue, additional products need to be added and this will require research, negotiating with the suppliers, and then updating the website. Orders are currently fulfilled in a somewhat manual process but this is based on the supplier; there is the possibility of automating some if not all of these fulfillment processes.
Traffic and Performance
- Avg. revenue /month$7,174Verified
- Avg. sessions /month1,280Verified
- Avg. profit /month$1,100
- Profit Margin11%
- Avg. sales /month8
- Shopify plan
- App for product accessories
- Google Ads
Physical inventoryNot Included
Logo and branding assetsLogo files and other branding assets (social media cover photos, etc) will be transferred by dropbox or another electronic cloud-based tool.
Personal support after saleIn order to support a successful transition of the business to a new owner the following: An initial 2-day review of the business (Shopify backend, Google Analytics account, Google Ads account). For 2 months after the sale, support via email, with 3-day turnaround times, and weekly 1 hour telephone calls at pre-arranged dates/times. Support will not include training on the fundamentals of Shopify, Google Analytics, Google Ads, Google Merchant Center, Facebook Ads, other e-commerce tools, tax advice, or legal advice.
Product photosProduct photos are currently in the Shopify back-end of the website but they will also be transferred by dropbox or another electronic cloud-based tool.
How to grow this business
To grow this business I would: 1. Grow the product portfolio. 2. Improve control of the fulfillment process by taking some inventory of the best performing products. 3. Invest in social media PPC advertising.
Skills to have
Basic business and marketing skills will be found to be useful but these days most, if not all, specific technical tasks can easily be outsourced to highly skilled individuals (e.g. website design changes, analytics, etc). Starting with a functioning business that is generating consistent revenue reduces in urgent need to learn new skills. Any skills that are determined to be needed can be added as time permits.
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.