- Avg. revenue /month$11,291
- Avg. sessions /month12,428
- Avg. profit /month$5,219
Why this business was started
I saw many people making hundreds of thousands to millions of dollars a year with drop shipping stores and was being targeted like crazy for paid courses, drop shipping courses, and other website building "promise to make you rich" seminars. I did not use any of those resources. I started this store for 2 reasons; the first reason was to see if I was capable of building a successful store by myself and scale it quickly and the second was to add an additional income stream for myself as I am a self employed entrepreneur working on multiple ventures.
The reason of selling this business
I have decided to sell this e-commerce business to focus all of my efforts on my digital currency startup. My digital currency startup was recently funded with outside investment and I now need to focus my efforts solely on that venture.
What's involved in running this business
The store is turn-key and 80%+ automated.
Weekly responsibilities include: 1) Monitoring or tweaking FB/IG Advertising campaigns (as needed/weekly) 2) Answering customer/support emails. I chose to do this myself instead of outsourcing. This can easily be outsourced to the same team that does all of our order fulfillment. (Daily/weekly) 3) Adding new products to the store or deleting old products (as needed) 4) Tweaking the Shopify store theme design (as needed) 5) Overseeing our 2 virtual assistants to make sure all order have been fulfilled timely + help them solve any issues they may encounter with a specific product, variant or supplier. (As needed/Weekly)
Traffic and Performance
- Avg. revenue /month$11,291Verified
- Avg. sessions /month12,428Verified
- Avg. profit /month$5,219
- Profit Margin27%
- Avg. sales /month904
- Shopify plan
- Paid Apps (Upsell Software, Review Importer, Size Chart, Abandon Cart Recovery, Automatic Discount)
- Facebook & IG (fluctuates between $8,000-$9,500)
- COGS (Cost of Goods Sold) *Inclusive of shipping price*
Physical inventoryNot Included
Logo and branding assetsALL logo assets, banner images, social media images, marketing images, graphics, and social media accounts, domains, and handles
Personal support after saleThe store is turn-key and 80%+ automated. I am willing to meet in-person with the new store owner or provide Skype / FaceTime sessions to help the new store owner with transition of ownership. This period should take only a day or two, but I can assist for an additional 3-5 days if needed.
Product photosAll photos and product imagery will be transferred.
How to grow this business
1) Social media growth - I did not utilize facebook or instagram organically for growth whatsoever. There is a HUGE opportunity for growth in these areas.
2) Influencers - I never paid a single person to wear our swimwear. I just used stock photos supplier by our manufacturers. With implementation of influencer marketing via Instagram there are limitless possibilities for growth.
3) Brand Ambassador program- We have not yet implement any incentive program. A program similar to that of popular fashion company, Fashion Nova. They use a "GIVE 30% AND GET $30" approach. "Send your squad a discount code for 30% off at FashionNova.com, and you’ll get $30 for every friend who makes a purchase." This is a huge untapped growth channel of existing and future customers.
4) Increase in ad spend across all platforms. We have only used FB and IG. There is infinite room to scale campaign 10,20,30x times the ad spend we have allocated. Additionally, we have not yet ever used Google Ad Words which is another entire untapped advertising channel which will also increase web seo and search engine ranking for organic purchases.
Skills to have
Facebook/IG Advertising - I taught myself quickly by watching youtube videos.
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.