- Avg. revenue /month$5,293
- Avg. sessions /month3,606
- Avg. profit /month$3,292
- Inventory value$20,000
Why this business was started
I decided to start the business because I was an avid customer in the industry and I thought there was a better way to serve the people. I knew that there were a lot of overpriced items and a lot of confusion with origin of manufacturing when it came to water pipes. So I decided to start a business where I could provide products that I love to people with affordable prices and honesty.
This business was started as a side hustle to supplement my daily income and I couldn't think of a better way than with a product that I love. All of the suppliers are companies that I have vetted and that I know make an awesome and quality product. Sourcing and inspecting the items is important because you make sure that every piece that goes out is of high quality. It is something that really shows with our customers' appreciation.
The reason of selling this business
The business has grown rapidly over the last 1.5 years (over 200%) and I do not currently have the time to grow it to the next level without quitting my 9-5. Unfortunately this isn't a good time in my life to leave my day job, so I think it makes more sense to sell it to someone else who can give it the time it needs. Via quality SEO services alone, this business could easily double in 6 months to one year.
What's involved in running this business
Currently everything is done in house, which includes: 1) ordering inventory and inspecting it as it is delivered 2) order shipping supplies 3) fulfilling orders 4) creating listings for new products 5) responding to customer questions. All of this work takes about 5-30 hours per week depending on different tasks. I would recommend a new owner hire an individual to inspect new supplier shipments and fulfill orders. Anybody can do these services and they can be the most time consuming. By doing this, you can focus strictly on growth. Currently the business does not do any advertising or run email campaigns. A new owner can step in and implement those and grow quickly.
All traffic is generated via SEO work that was done by the owner. Traffic is already built in and the owner does not need to do anything additional to keep the traffic as is. To grow the traffic it is recommended that a new owner invest in a quality SEO company to take it to the next level. The existing owner can provide recommendations as he has vetted a few firms and has one in mind if he does not sell the business first.
It would also be beneficial for a new owner to look into some additional forms of digital advertising.
Traffic and Performance
- Avg. revenue /month$5,293Verified
- Avg. sessions /month3,606Verified
- Avg. profit /month$3,292
- Inventory value$20,000
- Profit Margin64%
- Avg. sales /month194
- Shopify plan
- Inventory warehouse
- paid app
- All other business expenses
Logo and branding assetsLogo, gmail, and social media accounts will be transferred to new owner with the sale of the website.
Personal support after saleSeller willing to remain as support for 2 weeks after sale. Support will be provided in person for the initial transition of inventory and business sale. Ongoing support for two weeks is available via the phone or video chat. Seller is also willing to consult of the phone with buyer from time to time in the future if they have questions.
Product photosall photos are held within website and buyer can access them once given shopify login.
SuppliersWe have relationships and negotiated discounts will all suppliers that will transfer with ownership.
How to grow this business
1) I would invest in advertising and high-quality SEO services to drive additional website growth. 2) Increase the number of product offerings. 3) Open up a wholesale division. 4) Launch a branded product. 5) Open up a physical store that way you can offset the cost of inventory storage by also selling at a physical store versus just online.
The owner has primarily seen success growing the business via SEO work that he has done himself as well as the addition of good brands to the product selection. The best way to continue to grow it would be to invest in additional SEO work with a quality SEO firm and to continue to look at new products to add.
If I do not sell the business I would also probably open up a retail shop to increase the number of sales and to offset the cost of storing items. Based on my experience the business could double in size in the next year by investing in strong SEO, the only reason I have not done it myself is that I don't have the time to dedicate to running the business at that scale. This is also the reason that I am thinking about selling it.
Skills to have
There are no specific skills needed to operate this business, but the owner should have the entrepreneurial spirit so that they can step in and grow this business to the next stage. Additionally, it is beneficial for the owner to know how to properly delegate work. If the owner has strong SEO or advertising experience they could benefit from saving money on those expenses and growing the business on a discount.
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.