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$22,810 USD

My Gear Place

www.mygearplace.com

Appears in Health and beauty , Florida, Jacksonville, United States, Established businesses, Large Business, Business and Franchises under $50,000, Inventory

General description

This listing includes the online store, custom domain, custom logo, Facebook page, email list and copies of past advertising campaigns/videos. Online Store – MGP is an online general store designed and operated as a drop ship business. It currently has 419 individual product listings with 1941 variations. All products have a retail listing and some also have a Free Plus Shipping Offer. Products fall into the following niches: Health & Beauty, Kitchen, Fitness, Outdoor, Pets, Jewelry and Electronics, with most of the items falling into the Health & Beauty, Jewelry and Electronics categories. FaceBook Fan Page – Our fan page currently has 3,251 Likes. It is linked to the online store for easy shopping. Email list – Our email list is currently housed at Mailchimp. There are 4,400 addresses associated with MGP. (New customer welcome sequence and copies of past campaigns included.) Advertising Campaigns – I have several video clips for various products that have been branded with MGP name/logo, as well as pictures used in advertising campaigns. All will be provided to the buyer. I began this store in the spring of 2017 taking time to add products and apps, making it as good as I could before starting to promote it. As I began to advertise, sales started to come in, reaching their peak in October/November 2017. (Profit margins at that point were about 25%-30%. This should increase once the store is optimized for upsells and more attention is paid to email marketing.) I have not worked the store since the beginning of 2018, however it still makes sporadic sales. As previously mentioned, the store currently has 419 individual product listings spread through multiple niches. This gives the buyer of MGP a phenomenal starting point to build upon. All items (except one) are drop shipped to the customer after they make the purchase. I decided to try shipping my most popular item myself, and thus have that product for sale along with the online store. Most advertising for MGP was done via FaceBook ads. I also use Google Shopping ads for my other online store and would expand MGP into that if I were to continue running it. I have run MGP on my own. I do not have a bunch of VA’s doing everything for me. At the beginning of 2018 I had three online stores and was spending far too much time maintaining them properly and was forced to make some hard decisions. When I made that choice, I shut one store down completely. I kept MGP alive, but stopped putting any effort into making sales, focusing on the store I had decided to expand. At this point, I think it best to sell MGP instead of just letting it sit unattended – it has far too much potential for that to continue. Thus this listing to sell the store.

Financials and traffic

The numbers above are from last fall when I was putting time and effort into MGP. Please see the Shopify screen shot of last year's numbers for details. The numbers above are from last fall when I was putting time and effort into MGP. Please see the Shopify screen shot of last year's numbers for details.

Average profit/month

$6,000 USD

Average overall profit margin

30%

Average number of sales/month

400

Value of inventory

$1,500 USD

Average Monthly revenue

$2,981.60 USD

Average Monthly traffic

5,916 Sessions

Revenue and traffic data from this graph is calculated by Exchange and can not be edited by the seller. Average profit, profit margin and number of sales are provided by the seller. Learn how Exchange calculated this data.

Business Expenses

Monthly advertising expenses vary depending on where you advertise, as well as how many products you decide to advertise. If you spend $50 on advertising, your results will be less than if you spend $500 on advertising. You should always be testing new products to find the next “hot” seller.

Expense item

Cost

Shopify plan

$29.00/month

Subscriptions (ie. Mailchimp, apps)

$75.00/month

Advertising (ie. Adwords, Facebook ads, etc.)

$200.00/month

Inventory warehouse

$1.00/month

Domain

$1.00/month

Inventory

Inventory is stock of bestselling item.

Located in Jacksonville, Florida

Willing to ship inventory

Willing to transfer relationships with suppliers

What’s included in the sale

  • Physical inventory
  • Logo and branding assets
  • Social media accounts
  • Personal support after sale
  • Domain
  • Product photos

Social Media

Facebook

mygearplace

Mailing list

4,400 subscribers

Social media followers

3,251 people

Q & A

Why should someone buy this store?

This is the perfect way to jump-start your new business. It gives the buyer 400+ ready listed products to start without having to do a thing; and since they are spread over multiple niches, it also gives the opportunity to find multiple new products to build the store further.

How can the future owner improve the business?

The store needs attention - someone to enthusiastically work it. There are improvements that can be made to the sales funnels to increase the conversion rate, and the upsell process should be worked on. I never had time to properly develop the email list and send to them with any consistency. I system needs to be put in place to automate that correctly.

What work have you put into the store?

I built the store from scratch. I personally added all the products, and found apps that “play” well together. I built the email list and the Facebook page. If you pay attention to it and work it, MGP has potential to be a very strong ecom store.

How many hours does it take to run this business per week?

20 hours

$22,810 USD

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