- Avg. revenue /month$5,467
- Avg. sessions /month2,047
- Avg. profit /month$726
- Inventory value$6,636
Why this business was started
I actually purchased this business from its original owner in April of 2019 after a long search for a dropshipping based business. As mentioned earlier, I own/operate a small portfolio of internet businesses with multiple monetization methods and really wanted a dropshipping business to add to that portfolio. After much back and forth with the original owner (whom I still have a great relationship with) I determined CRAFTR to be a solid business and we were able to work out a deal.
The reason of selling this business
As of Dec. 2020 I cleaned up the Apps/Subscriptions for the business that were no longer needed and was able to save roughly $120/month. I also turned off Google Ads due to time limitations for this business and you'll see that reflected in the decreased traffic/earnings in recent months.
UPDATED 2020 P&L AVAILABLE UPON REQUEST
Unfortunately my plans for CRAFTR got derailed for 2 reasons:
Time This business really didn't fit with my other businesses and thus required specific attention whenever I wanted to make any changes/adjustments. Due to the fact that my other businesses are very similar in structure, it's very easy for me to make changes across the board, whereas this business is structured very differently and made it further out of my skill set than I had originally planned. In turn this required more time to study and get familiar with apps and marketing I don't typically use. Don't get me wrong, this business can be operated at it's current production with about 2 hours per week of time invested. However you can easily up that to 40 hours or more if you're looking to make major changes or focus on this business as a "full time" job.
Lack of familiarity with Google Ads Piggybacking off of the "Time" issue, I didn't have any previous experience with Google Ads coming into this business and thought I would have the opportunity to learn them. Fortunately/Unfortunately, my other businesses started to take off around the time I acquired CRAFTR and have rendered me unable to focus the time and attention needed to really understand how to utilize Google Ads to grow the business.
**Please note: there are several highly reputable marketing firms out there that you can outsource this task to, however I'm financially not in a position to where that make sense. If you'd like more information about this, I'd be happy to refer you!
What's involved in running this business
Day to Day this business really couldn't be more simple. You'll really only need to fulfill orders, update tracking information, and respond to any customer emails/inquiries. I'm usually able to knock this out in around 20 minutes, unless it's been a high volume order day.
On a monthly basis, I take a general accounting of the business through Quickbooks, but this can easily be done on a Google or Excel Spreadsheet. I also go through the apps once a month to make sure they're all up to date.
Obviously the marketing side is a huge part of the business (as I've mentioned multiple times at this point) but I don't really have a firm enough time estimate to list here. There are currently ad sets running on Google Ads that were created by the previous owner that I monitor, but haven't adjusted just for lack of knowledge on my part.
Traffic and Performance
- Avg. revenue /month$5,467Verified
- Avg. sessions /month2,047Verified
- Avg. profit /month$726
- Inventory value$6,636
- Profit Margin16%
- Avg. sales /month26
- Shopify plan
- Inventory warehouse
- Shopify Apps & Amazon Fees
Logo and branding assetsAll Logos, Branding Assets, and photos are contained in Dropbox files and will be transferred via Dropbox.
Personal support after saleI am willing to provide 30 days of Skype and Email support as well as introductions to suppliers. Although I am happy to answer the occasional email at any time after the sale.
Product photosAll Logos, Branding Assets, and photos are contained in Dropbox files and will be transferred via Dropbox.
SuppliersThere are 2 main suppliers with which we do all of our business with. I have personal contacts with both of these suppliers and the transition is incredibly simple to do.
How to grow this business
SUPPLIER CONTRACTS ARE INCLUDED OPEN TO EARNOUT NEGOTIATION
Marketing through Google Ads, no question. The business is very well placed in the niche, has repeat customers, and a fantastic infrastructure. Where it struggles is marketing. Specifically getting products in front of buyers during routine searches. Due to the technical skill involved in beer brewing, most of the customer base know exactly what product they need and it's often a matter of making sure your product is seen first and for the right price.
For this reason Google Ads, through the use of the shopping feeder, is the way to go. I've experimented with advertising through social media, but it seems to lack effectiveness compared to straightforward shopping ads.
The second growth technique I would incorporate is the use of affiliates. The business currently has one active affiliate and a small network of inactive affiliates that could definitely be utilized more. One main benefit of this technique is that it can be more cost effective than traditional paid ad campaigns.
As you can tell from the traffic/earnings screenshots, this business has developed a strong base with almost no work on my end since acquisition. I really haven't tweaked any of the previously active marketing campaigns and have still managed to maintain an average revenue of $6,000/mo. over my time of ownership. The issue here for me isn't the business' ability to make money, it's the time and knowledge needed to grow it, which I don't have.
Skills to have
The day-to-day aspects of this business are incredibly simple to learn and can be mastered in a week or less with just a basic understanding of Shopify. I believe it took me only a few days to be able to process orders and respond to customer inquiries (this makes up well over 75% of the business).
If you intend to grow and scale the business, I'd say a background in online marketing, specifically Google Ads is definitely a plus.
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.