- Avg. revenue /month$3,567
- Avg. sessions /month2,480
- Avg. profit /month$2,200
- Inventory value$90,000
Why this business was started
I decided to start the business, because I was looking for a new eCommerce project to test some skills. I was working on a few projects at the same time. After testing weighted blankets, it converted well, so I decided to dive in head first. It started out more as a pet project but grew rather quickly.
The reason of selling this business
Simply put, I don't have the time to grow it. I'm working on two other projects right now, one with a co-founder, this solo. It's taking away from my other project which we have external funding for, and I just need to put my focus there. This project does need a time commitment to make it grow, it's definitly not a set it and forget it investment. This is a great template and framework for a skilled digital marketer to take to the next level, and commit the time to growing it further. The infrastructure is in place, it just needs a commitment. I have let this go in the background for months, checking the Shopify app here and there. I decided to try and sell, as I did put a lot of time and effort into getting started at first, and I'd hate to see a solid template go to waste.
What's involved in running this business
Just running: Not a lot. All orders are shipped through a great 3PL in Ottawa. Very cheap shipping. They handle returns as well. Just replying to customer questions via our onsite chat or email. Future inventory orders will need to be managed, and inventory planning taken into consideration. The product takes 20 days to produce and can only be shipped by sea, as it's rather heavy. Meaning you must think 2 months ahead. I see this as an advantage as this is a growing industry, but there is no room for small sellers. You really have to be committed.
There are two Shopify accounts for the .com and .ca (both included). I have set it up to the .com acts as the master. This means all site updates can be made on the .com and pushed to the .ca.
Moving forward, to grow the business time will need to be spent properly advertising, and creating new campaigns, managing socials etc. Something I really haven't done up until this point.
Traffic and Performance
- Avg. revenue /month$3,567Verified
- Avg. sessions /month2,480Verified
- Avg. profit /month$2,200
- Inventory value$90,000
- Profit Margin25%
- Avg. sales /month60
- Shopify plan
- Inventory warehouse
- Email marketing/referral marketing/geo targeting
Logo and branding assetsI have professionally designed logo in a few variations, icon sets, and a brand board (fonts/colours etc.) All in SVG/PNG/JPEG format Also included is 5 long form blog posts, and a 5000 word "pillar page". All great, original and professionally written content. I just recently put these posts on the .com, but they are unlisted at the moment. The long term plan was to add these to a retargeting campaign and email campaigns.
Personal support after saleThis can be discussed and expectations can be managed. The primary reason for selling this is I do not have time, so I cannot spend hours a week on assisting, but I intend to have a warm handoff. I will intro to suppliers/3PL. I will write a "manifesto" that details all tools used, for what and how. I will also include all actions/findings/research I have done thus far, so you can hit the ground running. We can setup initial handover/training via video (or locally if you are in Ontario/Quebec.) and all further assistance can be managed via email.
Product photosI did a professional photo/video shoot. 380 edit photo + 50 second video with captions ready for socials. I can also include 1,700 raw, unedited photos and 30 mins of raw video footage. All in RAW/1080p format. There is over 100gb so it might be easiest to send a harddrive
How to grow this business
I organically got a few leads for large orders (30+ units) from nursing homes etc, and realized there was a great opportunity here. My background is in sales, so I started to workout a frame work for a cold outreach campaign, and was going to have a VA manage it, but unfortunately I just never got around to it due to time. I see this being a massive opportunity, as the sales I did get from these types of customers required little work, and resulted in $5k plus orders.
I started reaching out to wellness providers (Massage therapists, naturopaths etc.) to act as ambassadors, offering commissions for each sale they bring it. There was/is a lot of great interest here, I just stopped managing this/responding to inquiries again, due to time. I already have a cold outreach campaign process, and long list of contacts. If the buyer is interested I can train on this as well.
I have received customer feedback, and put it into designing "the ultimate" weighted blanket. There was a lot of back and forth, testing etc. with the manufacture but we locked in a perfect new design. I will hand over this research and new product design info, and ship the sample units I have. The buyer could choose to use this design for future orders. The cost is about 5% more/unit than the current design, but I believe it could greatly effect conversion, making up for the difference in cost. The only down side of this is, as the design/look is completely different, it would require new visuals (photo/video). which is the primary reason why I never got around to launching the new version, as again, no time to manage a photoshoot.
I would add small high margin complementary add-on products, as an up-sell at checkout to increase ticket size. I considered dropshipping essential oil diffusers as an add on at checkout, but decided against it as I didn't want to deal with any customer service confusion it may have caused. Again, no time.
Third party marketplaces:
Currently only sold via my Shopify store, but I would add this to all third party marketplaces as another avenue (Amazon, Walmart, Jet etc.)
Skills to have
This would be a fit for a digital marketer looking to dive into a turnkey project. The site, logistics and manufacturer have all been sorted. Months of back and forth, product testing and tweaking, user feedback etc. has gone into the product. For someone that already has a portfolio of projects and put their digital marketing, SEM/Social advertising skills to good work, this is a good fit.
This is NOT a dropshipping business. This requires purchasing inventory direct from the manufacture we work with. Although it is not a dropshipping business, it's still a great fit for a digital nomad, as we are setup with a third party logistics provider in Ottawa, Canada, which takes care of all shipping logistics for North America. You don't have to worry about physically shipping the units. I currently live about 3 hours away from where the stock sits, and never physically touch it (except for new shipments to test quality.) The benefit of this not being a dropshipping business, is, there is a high demand for this product, and yes of course there is competition, but there is a high barrier to entry. The item cannot be dropshipped, and as a heavy product, must be shipped by sea. This means it really only makes sense to order FCL, if you want to stay competitive. It's not the type of site side hustle Sam can start over night on his free weekend. It's also hard to build a relationship with these suppliers, as they aren't really interested in talking to small buyers. As I have a longstanding relationship with the manufacturer, I'm getting preferred rates, and access to new items as they come available.
There are a lot more moving parts to this business than a simple dropshipping side, but most of the pain was in the setup. I have setup a supply chain that is very easy to manage, the third party logistics provider is linked into the Shopify store, and all new shipments for directly from the port to their warehouse.
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.