- Avg. revenue /month$48,830
- Avg. sessions /month44,951
- Avg. profit /month$17,000
Why this business was started
Selling towards women online through our experience has been very profitable and this is where our strength in skill is. So we decided to create a Women's Fashion Store. Right off the bat, Spirited Jungle found success in it's first year of operation ($1M+ in revenue) and we knew we had a golden asset in ours hands. Originally the idea was to have this store niche-specific towards Swimwear ONLY. Then came the thought of how are we going to operate profitably through months when it is not suitable for Swimwear? So in August 2018, we quickly expanded the store to all types of womenswear. Initially, the revenue did not come running in which is why we had to make some testing adjustments. But shortly after, the remaining Q4 of 2018 was a bang for the effort we put in as you can see in our performance.
And besides this, as personal interests, fashion is something we are interested in so it made sense as to why create something in the fashion industry.
The reason of selling this business
My partner (Jan) and I were on an excellent run of form with the business, revenue was immense and profit margins were large. My partner then decided to renounce his prime ownership of the business, he cited ambitions for other undertakings and a loss of passion as his reasons for departure (making money wasn’t sufficient enough for him to stay.) The mantle was then left to me. I simply did not have the chops for sole ownership, this combined with a rigorous semester for me at university spelled a poor performance for the business. Any loss experienced under my tenor can be attributed to my negligence as an owner. I eventually lost interest in trying to maintain the business, even though I knew it could be very lucrative. What saddens my partner and I is watching something we created, that was once prominent, devolve. We fully believe, in the hands of competent and motivated people, the company will see a strong resurgence.
What's involved in running this business
Our faithful team handles all of the nitty gritty: Order fulfillment, customer service, social media maintenance, contact with suppliers, etc... With nearly a year and a half of experience, the two have become experts, they’ll be able to handle anything you throw at them. When it comes to marketing, we have established accounts on Pinterest, Facebook, Google, and 72,000 members in our email list (~38,000 accept marketing). Marketing and product research were our only focuses, the team could virtually handle all else.
Traffic and Performance
- Avg. revenue /month$48,830Verified
- Avg. sessions /month44,951Verified
- Avg. profit /month$17,000
- Profit Margin12%
- Avg. sales /month2,850
- Shopify plan
- Email marketing, Up-sell Apps, Pop-ups, Store improvement
- Facebook, Google, Pinterest, Other (Cost Varies by mo.)
- Freelancers, Fees, Other (Expense by month varies)
Physical inventoryNot Included
Logo and branding assetsCan be transferred through Google Drive Files. Mainly logos and other image work we have created.
Personal support after saleIf the new owner would like support or basic guiding how to operate the business we will provide 2 weeks of navigation through Spirited Jungle.
Product photosNot Included
How to grow this business
E-commerce is a exponentially growing industry, it would be unwise as of 2019 and moving forward to NOT be a part of the trend to get your piece of the pie. The best part of it is we are still it its earliest stages of evolution as more and more buyers transition to purchase goods online.
Fun facts related to E-commerce and why you should have an online business: 1. 46 percent of online shoppers count social media when deciding whether to buy something online. 2. 47 percent of shoppers say that Facebook has the greatest impact on what they buy (Our primary source of revenue.) 3. 54 percent of Facebook members use their phones to browse. There’s no doubt that mobile e-commerce has grown rapidly and continues to bring in billions of dollars for retailers who have mobile-accessible online stores. Side Note - With mobile shopping growing in popularity + the increasing amounts of social media accounts being created, there is huge upside to be involved now. 4. More than 80 percent of the online population has used the Internet to purchase goods and services. 5. 50 percent of the population online has shopped at Internet retailers more than one time.
Source: https://www.creatingawebsitetoday.com/15-facts-about-ecommerce-thatll-keep/ (For additional facts)
Back to the original question. As Facebook has been our primary source of revenue we would double down even further on learning newer advertising strategies with Facebook for a bigger success rate than we have had in the past. Reason for saying is this because we had a method we used to advertising and we just rinse-washed-repeated for every new 'selling product' we had. Rather than continuously testing new ideas. We have experimented with other platforms to get a taste of what else we can achieve through them and we have some advice to the owners on what we can recommend to scale Spirited Jungle successfully.
Huge opportunities to grow this business in OVER FACEBOOK = Google + Pinterest. I'll be honest here, we had a beginners luck in success with Google Shopping Ads as you will see in one of our performance screenshots. There is even further upside to the seasoned advertiser who has a wealth of knowledge with this platform to further scale and reach new customers. Rather than being like every other store on Facebook. We'd only consider ourselves novices to the Google Platform.
Now WHY must we also mention PINTEREST?? Pinterest has always fascinated me but I just could not figure out a way to make it work. We still took an active approach on the platform generating us at a peak of about 1 MILLION MONTHLY organic page visitors which is pretty much free revenue. Oh and the best part is (drum roll please).... We spent $0 on advertising when I finally one day realized we were getting all this traffic. Now we are currently at about 330k monthly page visitors, organic with 0 advertising and all we do is just post to our boards.
Pinterest has a huge potential for the owner who may be experienced or has an interest in this platform which I strongly suggest look into it. Personally, even through networking in the industry there are very little out there who actually know how to operate profitably through this platform. And those who do, we have heard they make monstrous amounts of revenue strictly only through this platform. Not only this but this platform has our target demographic as the majority.
And what does our demographic do on Pinterest related to fashion? Search for inspiration/ideas for outfits, seasonal trends, etc.
Here are some cool facts why we'd focus on Pinterest advertising heavily in the future: https://blog.hootsuite.com/pinterest-statistics-for-business/
We hope you get the idea here why this is a lucrative opportunity at this time of the E-commerce evolution (There are very few who are doing it.) And those who are spending advertising capital towards this platform are getting a killer deal on their metrics. On average our CPMs with some tested campaigns were $1.50-$4 for US traffic. Amazing.
But any-who, besides focusing a little more into these platforms and testing more ideas. We'd continuously also research the industry and further test our website layouts for the most possible optimized website for conversions. And as well seek new arising trends in fashion for profitable opportunities.
One last side note, we'd strongly too focus on email marketing efforts as we have barely scratched the surface of what is possible.
Skills to have
Experience in drop-shipping, especially in fashion would be a huge plus.
Also an 'eye' for fashion or just interest in the industry. This is how we were able to spot trends and maximize our profits.
Everything is in place for success, the key is just finding a winning product.
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.