- Avg. revenue /month$2,493
- Avg. sessions /month2,633
- Avg. profit /month$2,000
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 electric vehicle, rideshare and food delivery 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 $47,516.12 with over 40,000+ unique visitors to the store. Last month we did $7,308.00 in sales and had 10,698 unique visitors to the site. That's an increase of 5% in sales from the month of July, and a 30% increase in unique monthly visitors from last month. 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 August was $3,332.69 and net profit after all store related expenses was $1,746.16. Expenses for the store range from $300 to $1,600 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 August the total expenses were $1,586.53. This includes all eBay/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.
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.
For the month of September as of the 19th, we are currently doing $4,313.51 in sales with a gross profit of $2,601.96 and net profit at ~$1,700. At this rate, we are on track to hit over $7,000+ in sales this month and achieve a target gross profit of $3,500 or higher, and an overall net profit goal of $2,000 or higher. We're also averaging over 350 unique visitors to our store each day. These metrics are expected to increase as the month goes on.
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 September 19th, Tesla has a market cap of over $412+ 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) 470+ 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 $37,500.00. 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 two to four installments with a 80% down payment.
Here's how we are valuing our growing online store at $37,500.00: we are taking the $34,400.00 valuation that was given to us by Exchange Marketplace and adding $2,500 in development costs and my personal support for 3 months with the acquisition of the business. 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 1-2 years. At $37,500.00 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 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$2,493Verified
- Avg. sessions /month2,633Verified
- Avg. profit /month$2,000
- 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 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.
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 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
- 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.