All prices in USD
  • Avg. revenue /month
    $1,629
  • Avg. sessions /month1,244
  • Avg. profit /month
    $1,629

Business Story

Why this business was started

We started The Rideshare Shop a year ago with the intention to build a brand around ridesharing and a mission to offer the best vehicle accessories and driver resources to current and prospective rideshare and food delivery drivers. Our goal was to help drivers drive/deliver safer and more profitably. While we certainly delivered on our mission, we strongly believe there's an untapped potential for the shop to capture a huge vehicle accessories market in the rideshare and food delivery space.

The store has a large inventory of vehicle accessories ranging from rideshare accessories for Uber and Lyft drivers to Tesla accessories for Tesla owners. Our lifetime sales are currently at $28,728.27 with over 19,000 unique visitors to the store. Last month we did $14,478.47 in sales and had over 3,700 unique visitors to the site. That's over a 100% increase in sales from the month of March, and close to a 40% increase in unique monthly visitors from March! Profit margin is around 30% to 45% depending on affiliate commissions and if discounts are offered. Gross profit for the month of April was $6,165.10, and net profit after all store related expenses was ~$4,000. That's a ~115% increase in gross profit and over a 100% increase in net profit from the month of March. Expenses for the store range from $300 to $800 per month. Each month is different but generally speaking, the higher the sales for a given month, the higher the expenses. This includes all eBay/PayPal fees, apps, services, ad spend, and affiliate commissions. We have a lot of optional apps and services, which you don't need to operate the store. So for the new owner, your expenses will be a lot lower. As of May 25th, we are currently doing $4,271.18 in sales with a gross profit of $2,137.28 At this rate, we are on track to hit over $5,100 in sales this month with a target gross profit of $2,500 or higher, and an overall net profit goal of $2,000 or higher. We're also averaging over 150 unique visitors to our store each day. These metrics are expected to increase as the month comes to an end.

The shop is primarily running as a dropshipping store meaning we don't hold any inventory at our office. Instead, we have our wholesale suppliers fulfill each order. We simply order the product from our supplier once the customer places the order, and then our supplier ships the product to the customer. There is some shipping involved, however, it accounts for less than 10% of all orders. In the case of shipping items, you will have to ship products to the customer after they arrive at your location. Overall, it's mainly ran as a semi-passive business. Ultimately, we're looking for a new owner who can devote some time to it and strategically grow the store across all of its channels. The current owner is now involved in other projects, so he doesn't have time to devote to this store anymore. The store has a lot of potential and with the right owner(s), can become another profitable business opportunity for them.

For the new owner, this an opportunity to own a truly turnkey dropshipping store where everything from the design and development has been optimized for the consumer in mind. Each element of the store has been uniquely designed and custom tailored for the highest conversions and satisfaction among brand loyal customers. The store is utilizing a premium theme; however, we have modified the theme so much that it is now truly a custom designed store from the ground up. What you see today is the culmination of a whole year worth of custom modifications to the underlying design and development. If you were to compare the original theme to what you see on our store, you would notice numerous stark differences! The store is designed in such a way that as a prospective owner, you can take it in whichever direction you wish to. You can add or remove any niche. We are simply just scratching the surface. This store has the potential for huge growth in any category!

Don't just view this as another purchase. Instead, envision this as an investment to grow an existing brand in the rideshare industry that is projected to reach over $285 billion by 2030! Not to mention that the food delivery industry is soon to be worth over $200 billion! Over half of all our products are aftermarket Tesla Model 3 accessories. As of May 18th, Tesla has a market cap of over $150 billion. In the next several years, Tesla is expected to reach a market cap of over $1 trillion+. This is a store that is capturing market share in multiple billion dollar industries and has the potential to become a leader in the aftermarket/vehicle accessory space. Therefore, Imagine this as an opportunity to own a platform that can channel all of your current and future businesses in the rideshare industry, food delivery industry, or even the growing EV industry! For the new owner(s), here's a lucrative opportunity to own a well-branded store in the automotive space and the potential to take it to new heights.

The Sale Includes:

1) Custom Designed Store( Includes Shopify Account)

2) All Brand Assets

3) Professional G-Suite Business Email

4) LLC Transfer( Will update all information in the articles of organization with the buyer's information)

5) Premium Domain Name

6) 6 Free Months of Theme Support( Renews at $40 for every 6 months afterwards)

7) Disclosure of Current Suppliers

8) 170+ Products

9) Over 17+ Apps to Ensure a Seamless Customer Viewing and Buying Experience

10) 90 Day Premium Support

11) All Social Media Accounts and Growing E-Mail List

12) All Website Content and Files

13) Growing List of Brand Loyal Affiliates

With that said, the investment opportunity for this store is $19,999. We believe this is a very fair price considering how much time, money, and effort went into the overall development and design for the store. If necessary, we can work with you on a fair payment plan of one to two installments with a 80% down payment.

Here's how we are valuing our growing online store at $19,999: we are taking the average net profit for the last 3 months( Feb-Apr) of ~$2,000 and multiplying that out for the entire year to get ~$24,000. This is a very reasonable valuation as a lot of businesses often use a 3x or 4x multiple on their gross sales per year to value their business! We are then discounting the store's price by $4,000. By purchasing this store today, you are getting a great deal with an amazing discount. If you purchase this store, you will get your money back within a year or a lot sooner. At $19,999 this store is the perfect opportunity for anyone with drive and ambition. The opportunity to scale this business is endless.

The reason of selling this business

I have started a corporate job which doesn't give me enough time to devote to this venture any longer. Also, I don't have the ad budget to scale the store to 6 to 7 figures.

What's involved in running this business

The whole store is partially automated through our wholesale suppliers, which allows you to order and fulfill products directly from them. Very minimal time is required to operate the store. Day to day operations involve fulfilling orders, and handling customer questions. We primarily rely on influencer marketing to drive targeted traffic to our store. Currently we have several YouTube influencers who are our affiliates. Every month, if an affiliate has generated any sales with their link, you will have to pay them through PayPal or another manual payment setup via Refersion, our affiliate tracking partner.

Over the past several months, we have opened up another sales channel, eBay, where we are finding a lot of success.

Occasionally, some products will run out of stock and the supplier won't update their inventory so you'll have to override the product with another supplier that is selling the same product. Apart from this, nothing else is required. The new owner has the potential to scale this store to over six figures in revenue or higher with Facebook Ads and Google Shopping Ads. Also, the new owner can drive additional sales through targeted e-mail marketing campaigns.

This business was founded: over 1 year ago
Time to run this business: approximately 20 hours per week

Traffic and Performance

  • Avg. revenue /month
    $1,629
    Verified
  • Avg. sessions /month1,244Verified
  • Avg. profit /month
    $1,629
  • Profit Margin30%
  • Avg. sales /month150
Other details about profit: Most of the sales have been from our affiliates and Google Shopping Ads The biggest drivers for generating the highest profit will be the product cost and the customer acquisition cost. As long as you can find the product for a good price and your markup is $15 to $20 higher than the product cost, then you can expect 30% to 40% in profit margins on all sales as long as your advertising cost isn't too reasonably high.
Total revenue
  • $26,067
  • Revenue data comes directly from Shopify and cannot be edited by the seller
    Total traffic
  • 19,918Visits
  • Traffic data comes directly from Shopify and cannot be edited by the seller

    Expenses

    • Shopify plan
      $29
      /month
    • Domain
      $14
      /year
    • All Apps and G-Suite Business
      $95
      /month
    • Affiliate Commissions and Google Shopping Ads
      $500
      /month
    • Wholesale Supplier Membership Renewal, Theme Support Renewal, and LLC Annual Registration Renewal
      $25
      /month

    Sale Includes

    • Physical inventory

      Not Included
    • Logo and branding assets

      Main Logo with the source file.
    • Personal support after sale

      I will personally provide 3 months of support to the new owner on how to run the business. This will include general store operations such as order fulfillment( ordering the product),handing customer concerns/questions, and general marketing/ outreach efforts to grow the store. It will be my priority to ensure a smooth transition for the new owner and continued support over e-mail. Ultimately, my goal will be to make sure the new owner is successful with this acquisition.
    • Domain

    • Product photos

      All product photos will be transferred to the new owner.
    • Social media

      Total followers735subscribers
    • Suppliers

      I will provide you with all of the suppliers that I am working with for the store.
    • Mailing List

      1,000subscribers

    Seller‘s Advice

    How to grow this business

    We have barely scratched the surface on what can be done. The store can be grown with Facebook Ads and Google Shopping Ads. Currently, we are driving traffic and sales from Google Shopping Ads and several influencers as our affiliates. Facebook Ads were never ran on this store, so the potential for long term growth is very promising.

    Skills to have

    If you plan to grow the store through paid advertising such as Facebook Ads or Google Ads, it would be helpful to learn how either ad platform works. Since we mainly generate sales from Google Shopping Ads and our affiliates, we never needed to run Facebook Ads. However, if you plan to scale this store to 6 figures or higher in recurring monthly gross revenue, learning Facebook Ads would be helpful. With that said, it isn't required as it can always be outsourced to an agency or a third party that can run ads for you.

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    SM
    Sean M.Current store owner

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