- Avg. revenue /month$3,802
- Avg. sessions /month1,553
- Avg. profit /month$3,000
Why this business was started
This business was started as a endeavour to support my expenses as a full-time graduate student and took months of painstaking work, involving cataloguing of products, establishing communications with suppliers and shipping agents to ensure a smooth journey.
Drop shipping allowed me to stay-home, do my due diligence as a student and earn a decent income. Imagine being able to pay for car/bike installments just by responding to inquiries and clicking away at a computer. That was what this business allowed me to do!
I carved out a niche in Pendant Lights and LED Ceiling Lights which were expensive and only available in traditional retail stores in Singapore. Therefore, I was able to receive the attention of customers who are attracted to the unique, attractive and wide variety of designs, coupled with competitive prices.
The reason of selling this business
I've finally graduated! I am ready to leave this in the hands of someone who is either experienced or non-experienced (will provide guidance for half a year after take-over). I am moving on to a full-time job and will have less time, but a good sizeable monthly income and will therefore, no longer need this business to supplement my income.
You may expand the business as you wish, there is a lot of potential for overseas sales.
What's involved in running this business
You will have to handle daily inquiries from Facebook, Carousell and WhatsApp directly from the website. The amount of inquiries depend on amount you spend on ads and other factors that will affect listing views.
Occasionally you'll need to spend more time, as there a bigger clients whom are contractors/designers who are sourcing for their clients. We've worked with Huta Group from Saudi Arabia, delivering more than 100 pieced for their resort project. If you are interested to find out more, you may leave me a message to get some photos and as well correspondence of proof.
These projects easily net you upwards of 2-3 months worth of profits and are worth spending your time on, even if it means losing some sleep to go the extra mile for the client.
You will have to liase with Chinese Speaking suppliers to order and have the goods moved to the warehouse in China, before they are shipped to Singapore. You can also organise your own logistics to other parts of the countries.
At this point in time, I am also offering installation services that are outsourced. This also provides an additional avenue for generating additional profits. However, you will have to manage the installations dates and time. The current contractor has been with me for over a year long, I've built a relatively good relationship with the contractor, he is offering top-notch services and will go out of the way to assist you with technical issues, without extra charges (For Singapore / Malaysia (Johor Bahru))
Traffic and Performance
- Avg. revenue /month$3,802Verified
- Avg. sessions /month1,553Verified
- Avg. profit /month$3,000
- Profit Margin35%
- Avg. sales /month24
- Shopify plan
- Google Adwords & Facebook
- Pixlr & Canva
Physical inventoryNot Included
Logo and branding assetsAll logos and branding assets will be transferred through drop-box or other cloud-drives.
Personal support after saleI will provide guidance on how to run the business, including fulfillment and following up with customers for a period of up to 3-months after the hand-over
Product photosAll product photos will be transferred through either drop-box or a meet-up to transfer the pictures through storage device.
Mailing ListNot Included
How to grow this business
I would be spending more on advertisements and targeting the exponential growth in home ownership in Singapore. Light fixtures are a part and parcel of renovating a new place and consumers are increasingly taking their purchases of light fixtures, furnitures etc online due to the wide-offerings of designs that are available.
I would also take the business off-line, opening up another sales channel by carrying some of the latest designs in inventory. We have to accept that there will be a portion of consumers who will prefer to view the products in person, before making a purchase. A multi-distribution channel approach is what I will adopt once the business reaches specific goals.
I will also be open to taking up projects, where I supply and install the lights for other small-business owners when they set-up shop. They are usually able to provide better margins then home-owners.
Skills to have
You will need some knowledge on the basic parameters of lights, and a basic technical skills if you'd like to continue the installations part of the business.
You will need to converse in Mandarin sometimes when communicating with the supplier since most of them are from China. The agent will handle your orders, pack and ship them as well as provide after sales support. All you need is to install WeChat and communicate with them. Services are provided 24/7.
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.