- Avg. revenue /month$10,196
- Avg. sessions /month4,558
- Avg. profit /month$3,500
Why this business was started
I started this to solve a problem I personally had, that I felt was underserved by existing options. To solve the problem, I took a modular product from a domestic supplier and created predetermined configurations as SKUs, allowing consumers to purchase the whole kit at once rather than build it out themselves (as the suppliers do it). This leads to higher conversions and consumer confidence, as the entire experience is streamlined. If people want/need things done custom, we're able to do that too.
The reason of selling this business
I'm in university full time and getting into 4th year, which is becoming a lot more demanding than 2nd and 3rd year. If I was working on this full time I would be ready to bring on new suppliers, add more SKUs and hire a VA, but at the moment most of my time working on the business is spent maintaining the day-to-day, and I'm not able to expand the business the way I would like to.
What's involved in running this business
It's on the drop shipping model, so we don't hold any inventory, but the purchasing process isn't 100% automated just yet.
When a sale comes in, we create a PO in Google Sheets and email it to the supplier. They charge our cc automatically (high ticket sales, amazing for points), and the order goes into the queue. When it ships (5-7 business days), an automated shipping notification is sent which we input into the Shopify tracking. Then, we send a boiler plate email outlining the delivery process for the customer. All of this can be automated with Zapier, I just haven't gotten around to it.
Beyond that, we get around 6-8 phone calls per month, sometimes people want things custom or have questions. We also have live chat on during business hours, probably around 5 chats/week even if we're getting 300-400 website visitors per day.
Traffic and Performance
- Avg. revenue /month$10,196Verified
- Avg. sessions /month4,558Verified
- Avg. profit /month$3,500
- Profit Margin15%
- Avg. sales /month15
- Shopify plan
- Chat widget, review widget, VoIP etc
- Google Ads
Physical inventoryNot Included
Logo and branding assets- Social media banners and templates for blog posts and highlighted review posts. Original logo and icon with brand color guide (designed in-house, not outsourced or copied). Information graphics, branded instruction manuals, and sizing charts for different SKUs. All assets created in-house, .psd and jpg files are included. Transferred via WeTransfer or Dropbox.
Personal support after saleI'll personally train you on fulfilling orders, using the suppliers 3D virtual tool (for creating custom configurations/sketches for customers), and talking to customers via chat and phone. I will also explain our Google Shopping campaigns, the strategies we've used so far and what opportunities there are to maximize efficiency. I will provide support for up to two months after the sale, for a maximum of 40 hours. If more is needed, that can be negotiated.
Product photos- 30-40 exclusive photo-realistic renders of best-selling SKUs (most customers think they're photographs). 200 exclusive product/component photos against white studio backdrop (professionally shot in-house, not from the supplier or outsourced). 25-30 color corrected, cropped and web optimized photos of individual product components, originally from the supplier.
SuppliersThe supplier of our hero products is a domestic supplier/manufacturer and they hold international patents to the products we sell. The products we offer are not available on Amazon or any other online marketplace, making us one of the only places these products can be purchased. We're the #1 retailer for our supplier in sales volume for this product line. They always answer our calls and are 100% committed to our success and our customers. We have a dedicated customer service rep and a dedicated sales rep for bigger questions/conversations. They also handle all shipping for us and charge us based on the value of the order (not size, weight, or distance), so shipping costs are 100% predictable and can all be factored into COGS for the accurate prediction of margins, every time.
How to grow this business
I would look to move further up the sales funnel to truly dominate this space on all levels. Our products are very unique and endless content can be created around them, something that our suppliers don't do. We haven't spent a dime on social media marketing, so there is a lot of potential there.
I would also look to bring on more domestic suppliers and add more SKUs to the product mix. Our hero products sell well, but as the store gains more authority, that influence should be used to sell adjacent products as well. I have about a dozen domestic suppliers shortlisted, just have not gotten around to calling them as things have been very busy and I'm in school full time. I'd be happy to share this list with the buyer.
The business has consistently grown in the last 8 months, and sales have always been inline with advertising spend. Sales are not dependant on virality, we simply offer the best solution for a common problem.
Skills to have
The product is quite simple and can be understood quite quickly. The items are high-ticket, so some customers prefer to call in and ask a few questions, so basic customer service is helpful to have. Beyond that, there are no technical skills required. The advertising campaigns are on auto-pilot and the store is completely operational on its own.
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.