- Avg. revenue /month$9,010
- Avg. sessions /month5,927
- Avg. profit /month$4,200
- Inventory value$40,000
Why this business was started
I realised the potential in this industry that not many others were able to tap. I have been a regular user/customer of the product I wanted to sell, hence it gave me an edge and immense knowledge about how the store and customer experience should be designed.
The reason of selling this business
I really wish I didn't have to sell this business as it's my baby, and I had big plans of scaling this business up, but I'm moving back to my home country, and this business is setup in the UK and requires my physical self for managing the inventory (It's not a dropshipping business).
While the business doesn't require excessive amount of hours, but it does have physical stock and requires warehousing + fulfilment from within UK. (I currently have dedicated one whole room of my student house for the warehousing)
What's involved in running this business
The main activities involved in running this business are drafted below: - Monitoring Facebook Ads. - Processing Orders (packing & posting orders thrice a week) - Ordering stock from suppliers (contacts of multiple suppliers will be provided) Purchase Orders are mainly processed for two things: (1) Inventory of the product (2) Packaging supplies (bottles, padded envelopes, etc)
- Basic accounting so that you can count your profit each month :D
Traffic and Performance
- Avg. revenue /month$9,010Verified
- Avg. sessions /month5,927Verified
- Avg. profit /month$4,200
- Inventory value$40,000
- Profit Margin42%
- Avg. sales /month440
- Shopify plan
- Inventory warehouse
- Klavio & Review Apps
- Facebook Ads
Logo and branding assetsWetransfer or Dropbox
Personal support after saleI will be available digitally via Zoom to assist or help you understand any complications you may find, although everything set up is pretty easy to understand. Once the sale is confirmed, I would like to do an hour long session with the buyer of this business to help them understand my own analysis of areas where the business can grow, and what do they need to be careful about. I would go over all the Facebook ads that we run, and will also study the email marketing we have done in the past to ensure the new owner of the business has complete understanding of how to not only continue the business, but also grow it. I will also take responsibility of any chargeback/refund requests for orders placed while the business was under my ownership for upto 60 days.
Product photosWe have conducted basic product photography, and some photoshoots for Instagram & Facebook, all of which will be transferred to the new owner via WeTransfer. Bonus: We have a product photography template picture, which you can edit the name for any new scents you want to introduce.
SuppliersSupplier Relationships for both, the product and the packaging will be provided.
How to grow this business
The global perfume market size was estimated at USD 32.50 billion in 2019 and is expected to reach USD 33.69 billion in 2020. Much of this growth is due to these alternate perfume options, such as Perfume Oils (our main product).
All the basic requirements of any successful e-Commerce business are fulfilled already with a smooth website design and winning Facebook/Instagram ads. We have achieved upto 20% Return Customer Rate, which is great as per the industry standards and are a proof that the business is well designed. Another proof of success for this store is the 6.0+ Conversion Rate (way above industry standards)
There are many potential growth areas that I did not get to try due to the burden of my MSc thesis work, and my sudden move back to the home country.
Currently the business is only marketing and serving UK based customers, but the product has great potential to target customers in the EU Market, which can increase the customer audience by 10x instantly.
The store currently retails Perfume Oils; another way to grow would be to introduce Beard Oils, Car Air Deodrants, Humidifier Oils & most demanded Perfume Sprays.
As I only give this business (1) One Hour Per Day, and had to pack almost 30 orders per day, I didn't get the time to experiment and test these new products as I was already satisfied with my current earnings.
As mentioned earlier, there are many potential options to scale the business up, the simplest would be to increase the Facebook ad spend, try Influencer Marketing, and do paid marketing on multiple different platforms.
Skills to have
The owner should have basic computer literacy to understand and process orders. I hire additional help for £8/ per hour to process and package all our orders, I just make sure they don't do any errors. The business at this stage is setup smoothly to have sustained revenues and profits. However, in order to scale, the following skills will be helpful and required: - Facebook/Google Ads Knowledge - Basic Design understanding to cater for seasons such as Valentines, Christmas, etc.
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.