- Avg. revenue /month$6,237
- Avg. sessions /month2,946
- Avg. profit /month$2,000
- Inventory value$45,000
Why this business was started
I always had a strong interest in the IT and Electronics field and since selling my old PlayStation on eBay I was then hooked on running my own business. I never wanted to just go to work and do something I didn't love, and while running a business does have it's ups and downs it has always been a great feeling to know that you are the one benefiting from the work you are doing. From there it has simply grown to become a full time job and I now no longer need to work.
The reason of selling this business
Whilst IT and Electronics were a strong interest of mine, I decided to do a different degree at University and therefore feel that the business would perform better with someone who had a deeper understanding of the products sold. I also have a number of other online stores and have realised I need to decide on a store to focus on as splitting my time between them means none of them are reaching their full potential.
What's involved in running this business
Responding to Customers Enquiries, Listing Products (E.G. adding images, descriptions), Fulfilling Orders (Through dropship or posting for in-stock products), After Sales Support (E.G. Returns, product help), Accounting (Checking invoices were created correctly, inputting supplier invoices), Updating website , Working with Suppliers
Traffic and Performance
- Avg. revenue /month$6,237Verified
- Avg. sessions /month2,946Verified
- Avg. profit /month$2,000
- Inventory value$45,000
- Profit Margin10%
- Avg. sales /month250
- Shopify plan
- Inventory warehouse
- Shopify Apps, Datafeed Subscriptions
- Google AdWords
- Data Transfer System (Custom Made) to Sync Inventory with Suppliers and Automatically Add New Products
Logo and branding assetsLogos, Themes, Colour Scheme, Invoice Templates, Letterhead, Customer Database
Personal support after sale1 Week of Training to include a run through of all operations such as: - Ordering/sourcing products - Listing products - Freight/Dispatch - Accounting - Assisting Customers - Updating the Store - Social Media/Advertising Able to be provided in person at our office or over the internet/phone if not able to meet with us.
Product photosAll product photos will be included and are uploaded in Shopify
How to grow this business
Would recommend using the current product range to offer Technology as a Service (TaaS) (E.G. managed print services, IT consulting) and taking a more personable approach to develop a recurring income in addition to the revenue currently received from product sales. Would recommend moving away from the dropship model and towards purchasing stock as these products have a much higher margin and less competition. Would recommend looking at developing products independently to sell through the store (E.G. your own brand of products) as we used to do this and they had a much higher margin. Would recommend using social media to engage and attract new Customers. Would recommend continuing to develop supplier relationships (E.G. we recently became authorised HP and Cisco partners)
Skills to have
Would recommend having a background and passion for IT and electronics. Would recommend having some customer service experience. Would recommend having some accounting knowledge or hire a bookkeeper/accountant.
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.