- Avg. revenue /month$7,020
- Avg. sessions /month7,385
- Avg. profit /month$2,500
Why this business was started
We started The EV Shop a year ago with the intention to build a brand around Tesla accessories and a mission to offer the best accessories to current and prospective Tesla Owners. Our goal was to help owners equip their vehicle with the best accessories. 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 electric vehicle space.
The store has a large inventory of vehicle accessories ranging from rideshare accessories for Uber/Lyft drivers, food delivery accessories for Uber Eats, DoorDash, Grubhub, and Instacart drivers to Tesla accessories for Tesla owners. Our YTD sales are currently at $65,704.01 with over 65,822+ unique visitors to the store. Last month we did $11,140.81 in net sales and had 14,784 unique visitors to the site. That's 43% increase in new visitors from the month of September and a 58% increase in sales. Additionally, average over value increased 13% to $135.80. Gross profit margin month to month varies between 45% to 50% depending on affiliate commissions and if discounts are offered while net profit margin is 25% to 35% depending on expenses. Gross profit for the month of October was $6,272.33 and net profit after all store related expenses was $3,385.40. Expenses for the store range from $300 to $1,800 per month. Each month is different but generally speaking, the higher the sales for a given month, the higher the expenses. For the month of September total expenses were $2,000. This includes all PayPal fees, apps, services, ad spend, shipping fees, 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.
For the month of November, as of the 2nd, we are currently doing $374 in sales with a gross profit of $200 and net profit at ~$200. At this rate, we are on track to hit over $10,000+ in sales this month and achieve a target gross profit of $6,000 or higher, and an overall net profit goal of $3,000 or higher. We're also averaging over 600 unique visitors to our store each day. These metrics are expected to increase as the month goes on.
A note regarding returns. Our return rate is considerably low. While every month is different, our return rate from month to month is usually less than 5% of total net sales. In the sales reports that we have uploaded, you may notice a high amount in the returns section. This is because when Shopify generates sales reports, they group all refunds into the returns category without taken into account whether the order was shipped and then returned or if it was an instant refund issued by us due to a customer wanting to cancel their order or because of high risk orders that we always refund after they were placed. Since they don't differentiate between these different scenarios, all refunds get grouped together. Please be mindful of this when reading through the sales reports which we have uploaded in here.
2020 Q4 sales guidance: we are striving to do anywhere from $10k to $15K per month in net sales and achieve ~$3k-$5k in net profit per month during this quarter. Our goal is to end the year with a total net sales for the entire year at or close to $90k. We will achieve these metrics by onboarding several affiliates in the EV, food delivery, and rideshare space through our growing affiliate program. Additionally, we will be ramping up our existing sales channels by importing more winning products. Furthermore, we will be spearheading partnerships with new brands and suppliers to increase our product catalog to over 700+ products. Also, we will be increasing organic reach by growing our social media accounts( primarily Instagram & Facebook) through daily, engaging posts, and increased activity. Lastly, we plan to launch Facebook Ads and further scale Google Ads by increasing our ad spend on currently running profitable ads. I am confident we will either meet or exceed these metrics set forth for this upcoming quarter.
The shop is primarily running as a dropshipping store meaning we don't mainly hold 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 accessories. As of October 1st, Tesla has a market cap of over $418+ billion and is valued as the largest automaker by market cap in the world beating out even Toyota Motor Corp. In the next few years, Tesla is expected to reach a market cap of over $1 trillion+ joining the likes of Apple, Google, Microsoft, and Amazon. 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, food delivery, or even in 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) 500+ Products
9) Over 20+ 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 $90,000. 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 three to six installments with a 90% down payment if paying the advertised price. You can pay the remaining 10% from the profits of the business each month.
Here's how we are valuing our growing online store at $90,000.00: we are taking the projected net sales for this year of $90k and using a 1.0 multiple. Furthermore, we're factoring in development costs along with my personal support for 3 months with the acquisition of the business. Additionally, we're taking the average net profit of ~$2,550 and multiplying that out by 36 to get ~$90,000. Lastly, I'm factoring in the fact that net profit will most likely increase to $3k to $5k each month going forward. 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! If you purchase this store, you will get your money back within 4 years or sooner. In its current state, it's a 3YR to ROI. However, if you grow the store's revenue and net profit over the course of 3 years, then you could get your investment back a lot sooner. I personally believe EVs such as Teslas are expected to further increase in popularity, food delivery and rideshare services are expected to attract and reach more demographics thus increasing the potential for the store to capture a larger market share and attain an influx of sales. It's very possible to scale this store to $30k+ in net sales per month and $10k+ per month in net profit. Therefore, at $90,000.00 this store is a very good investment for the hungry entrepreneur or anyone with drive and ambition. It's the perfect opportunity for someone or a group of individuals to build on something that can have a very large impact not only today but more importantly, for years to come as we transition to an all electric, on demand future.
I kindly request that you only reach out to me if you are seriously interested in purchasing this business at or around its asking price of ~$90k. With that said, I am open to all offers that are at least $80k or higher, and I'm open to fair negotiations. However, I will not sell this store for a price I feel don't feel captures the true value and long term potential of the business. Reach out to me if you wish to discuss this promising opportunity further!
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 and/or concerns. We primarily rely on Google Ads and 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 other sales channels where we are driving some traffic and conversions.
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.
Traffic and Performance
- Avg. revenue /month$7,020Verified
- Avg. sessions /month7,385Verified
- Avg. profit /month$2,500
- Profit Margin30%
- Avg. sales /month100
- Shopify plan
- All Apps and G-Suite Business
- Affiliate Commissions and Google Shopping Ads
- Wholesale Supplier Membership Renewal, Theme Support Renewal, and LLC Annual Registration Renewal
Physical inventoryNot Included
Logo and branding assetsMain Logo with the source file.
Personal support after saleI will personally provide 3 months of one on one support to the new owner on how to operate the business. This will include general store operations such as order fulfillment( ordering products), handing customer concerns/questions, and general marketing/ outreach efforts to grow the store. Furthermore, I will provide templates and scripts on how to engage and deal with certain situations. 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 the acquisition.
Product photosAll product photos will be transferred to the new owner.
SuppliersI will provide you with all of the suppliers that I am working with for the store.
How to grow this business
We have barely scratched the surface of what can be achieved with this store. The store's sales can be grown exponentially by starting Facebook Ads and scaling Google Shopping Ads. Currently, we are driving traffic and sales from Google Shopping Ads and several influencers as our affiliates. In fact, Facebook Ads were never ran on this store, so the potential for long term growth is very promising. Furthermore, more sales can be driven through e-mail marketing and social media marketing. We haven't spent time with either, but the opportunity to develop these channels and drive converting traffic is limitless.
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.
Our features for a secure experience
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- Escrow payment system
- Dedicated migration team
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