- Avg. revenue /month$4,255
- Avg. sessions /month7,160
- Avg. profit /month$1,500
- Inventory value$4,890
Why this business was started
I wanted to turn my hobby into a business and be able to sell unique cycling products to a broad range of customers.
The reason of selling this business
I have began a new career in a very demanding field after graduating college last spring. I started this in my last few semesters of college and had plenty of time to invest into the business. Now, I have a demanding job and lack of time to invest into the business/ running ads/ learning and sales have decreased because of this.
What's involved in running this business
I pay someone $60 per month to post a few times per week on post on Instagram to our 18K followers. I would estimate it takes 4 hours to run this business per week (responding to customer emails and ordering products/ shipping orders). I have an excellent supplier who knows the products very well, and is extremely honest but the products can be sourced from a variety of sellers as it is not exclusive to this supplier. I started by buying in bulk and shipping the products myself but packing the orders was way too time consuming so I switched it to dropshipping. I still have a lot of inventory so sometimes ship the orders myself if I have the products on hand. There's so much potential that I don't have the time to take advantage of regarding advertising, product variability, marketing, and sales channels. I have taken a step back from the business due to lack of time so sales have dropped. I have spent $11000 in FB ads and $1.2K in google ads so I will be transferring these ad accounts to the buyer.
Traffic and Performance
- Avg. revenue /month$4,255Verified
- Avg. sessions /month7,160Verified
- Avg. profit /month$1,500
- Inventory value$4,890
- Profit Margin40%
- Avg. sales /month65
- Shopify plan
- Inventory warehouse
- Loox Reviews App, Frequently Bought Together App, and Limespot
- Instagram posts
Logo and branding assetsIll send a flash drive with all the logos and photos.
Personal support after saleI will assist on support of any orders prior to the sale, connect you with the supplier, as well as anything else you may need help with for about 2 weeks or more if needed.
Product photosIll send a flashdrive containing all the product photos
SuppliersI will connect you with my main supplier. We communicate via wechat.
How to grow this business
I would grow the store by private labeling products within this niche and running ads to broader audiences. There are specific products on the website that are doing better than others and with the time put into listing more similar products, I think it can do extremely well. I would also setup a business/ wholesale section on the website to be able to sell products to bike shops across the country. Many shops are emailing us that they want to buy the products in bulk but I have not yet implemented a wholesale section on the website. Advertising is very important so posting on Facebook, Instagram, and other platforms would create sales as well as doing giveaways which we have done in the past to drive clicks and conversions to our site. Another big opportunity would be to start selling on amazon. Some products are already private labeled so you can begin to sell on Amazon as a new brand.
Skills to have
Any specific skills or knowledge the new owner should have is a simple google search away. It would be beneficial to have a little background on bicycles but it is not necessarily needed to run this successfully. This was my first ecommerce store and I never took a course on ecommerce and I was still able to run this just by researching everything on my own. I had no idea how to do any sort of marketing or ecommerce in general but I was still able to succeed using shopify and youtube videos for help.
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.