- Avg. revenue /month$6,574
- Avg. sessions /month7,022
- Avg. profit /month$3,187
Why this business was started
I started The EV Shop 2 years ago with the intention to build a brand around Tesla accessories and a mission to offer the best accessories to current and prospective Tesla Owners. My goal was to help owners equip their vehicle with the best accessories. While I certainly delivered on this mission, I strongly believe there's an untapped potential for the shop to capture a huge vehicle accessories market in the electric vehicle space.
The store has a very large inventory of vehicle accessories (2,100+ products) for Tesla owners. In fact, we are the largest aftermarket Tesla accessories store in the whole wide world. You can do a Google search and you will find that there is no other online store on the market that carries more Tesla accessories than our store. We offer more than 3x as many accessories as our closest competitor. With over 2,100+ products and counting, we offer a wide variety of unique Tesla accessories in a growing EV market segment. Last year we did $188,237.08 in sales with 50,000+ unique visitors to the store. Last month we did $4,202.56 in net sales and had 8,864 unique visitors to the site. That's a 7% decrease in unique visitors from the month of October and a 50% decrease in sales from the past month. Additionally, average over value decreased 26% to $226.18. Gross profit margin month to month varies between 45% to 50% depending on affiliate commissions and if discounts are offered while net profit margin is between 30% to 40% depending on expenses. Gross profit for the month of October was $2,752 and net profit after all store related expenses was ~$1,482. Monthly expenses for the store range from $100 to $500+ per month. Each month is different but generally speaking, the higher the sales for a given month, the higher the expenses. For the month of October, total expenses were $483. This includes all PayPal fees, apps, services, advertising cost, shipping fees, and affiliate commissions. We have some optional apps and services, which you don't need to operate the store. So for the new owner, your expenses will be a lot lower.
For the month of November, as of the 19th, we are currently doing ~$9,700.79 in total sales with a gross profit of $7,038 and net profit for the month so far at ~$6,469 (after all expenses are paid). This is all being achieved with running little paid advertising. Additionally, the store has had 6,149 unique visitors, a 37% increase from last month around this time. These metrics are expected to increase as the month goes on.
2021 Guidance: For fiscal year 2021, I'm expecting to do anywhere from $24,000 to $60,000 in net sales. Additionally, the projected net profit each month will be anywhere from $1,000 to $3,000+. Each month will be different but I expect the average to be around $2,500+ per month. This sales assumption is based on little to no paid advertising and mostly on sales derived from organic reach and our affiliates. Nothing is set in stone and this is just a projection, so please keep that in mind.
In fiscal year 2020, the store did ~$40,000 in net profit after all expenses. The months of Nov 2020 and Dec 2020 are anomalies and overall sales from those two months shouldn't be seen as a continuation in January 2021 or any successive months thereafter. I resold highly priced name brand items because of the holidays so that's why the sales were so high for those two months. The reason why the store was able to achieve $40k in net profit last year was because of numerous robust Google Shopping Ad campaigns along with sales from our affiliates . However, our Google Merchant Center account was suspended in January of 2021 so we can't run Google Shopping Ads anymore. I am trying to have the suspension removed but I can't guarantee if it will be removed or not. This is partly why I have listed the store for ~$60k instead of the valuation given to us by Exchange Marketplace of over $108k. We can still run Google Search Ads, though. As of December 2021, for the past 6 months, we've averaged ~$3,200 in net profit per month without running a single Google Shopping Ad. So that goes to show that there are other ways to drive traffic and get sales. Just look at the month of November 2021, the store is doing 6k+ in net profit. Sure, it might be a little more difficult to scale to $10k+ per month in net profit each month, but it's still doable with other advertising platforms. The other great news is that Facebook Ads were never ran along with Instagram Ads or Microsoft Ads. So there is plenty of potential for you to increase the sales through those paid advertising channels. The other thing I would recommend you do is scale the affiliate program, which I can help you do.
Therefore, in its current state if you were to do nothing after acquiring the store, you will make anywhere from $1,000 to $3,000+ in net profit thanks to our affiliates and organic search. Each month will be different where some months you may make on the lower end of this range in net profit and some months you may make over $3,000+ in net profit if you sell some of the higher priced items, which carry a higher profit margin. Keep in mind that this is without running much paid advertising. Whereas, If you run Google Search Ads, start running Fb Ads, Instagram Ads, Microsoft Ads, open up another marketing channel, run email marketing, grow the social media accounts by posting engaging content, and scale the affiliate program, etc., the sales volume can grow up to or above $10k-15k per month with net profit up to or exceeding $5k per month. Honestly, I just don't have the time nor the ad budget for it.
A note regarding returns. Our return rate is considerably low. While every month is different, our return rate from month to month is usually less than 5% of total net sales. In the sales reports that we have uploaded, you may notice a high amount in the returns section. This is because when Shopify generates sales reports, they group all refunds into the returns category without taken into account whether the order was shipped and then returned or if it was an instant refund issued by us due to a customer wanting to cancel their order or because of high risk orders that we always refund after they were placed. Since they don't differentiate between these different scenarios, all refunds get grouped together. Please be mindful of this when reading through the sales reports which we have uploaded in here.
The shop is primarily running as a dropshipping store meaning we don't mainly hold inventory at our office. Instead, I have our wholesale suppliers fulfill each order. I simply order the product from our supplier once the customer places the order, and then my supplier ships the product to the customer. There is some shipping involved, however, it accounts for less than 5% of all orders. In the case of shipping items, you will have to ship products to the customer after they arrive at your location. However, this is 100% optional as you don't have to carry any of the products that require shipping. Overall, it's mainly ran as a semi-passive business. So you could run this business without ever having to see the product even for returns. Ultimately, I'm looking for a new owner who can devote some time to it and strategically grow the store across all of its channels. The current owner is now involved in other projects, so he doesn't have time to devote to this store anymore. The store has a lot of potential and with the right owner(s), can become another profitable business opportunity for them.
For the new owner, this an opportunity to own a truly turnkey dropshipping store where everything from the design and development has been optimized for the consumer in mind. Each element of the store has been uniquely designed and custom tailored for the highest conversions and satisfaction among brand loyal customers. The store is utilizing a premium theme; however, I have modified the theme so much that it is now truly a custom designed store from the ground up. What you see today is the culmination of two years worth of custom modifications to the underlying design and development. If you were to compare the original theme to what you see on our store, you would notice numerous stark differences! The store is designed in such a way that as a prospective owner, you can take it in whichever direction you wish to. You can add or remove any niche. I am simply just scratching the surface. This store has the potential for huge growth in any category!
Don't just view this as another purchase. Instead, envision this as an investment to grow an existing brand in the electric vehicle industry that is projected to reach over $1 trillion by 2030! As of November 19th, Tesla has a market cap of over $1.2+ Trillion and is valued as the largest automaker by market cap in the world beating out even Toyota Motor Corp. Just take a minute and just think about that: Tesla is worth more than all of the 6 largest automakers (Honda, Toyota, GM, Ford, VW, Daimler) combined! Recently Tesla joined the ranks of tech giants such as Apple, Google, Microsoft, and even Amazon. By the end of 2022, it's very possible for Tesla, Inc. to be worth in excess of 2 Trillion, possibly even more. The 5 to 8 year projection for Tesla is to be worth over 5T+ and become the largest company by market cap in the entire world. This is a store that is capturing market share in a growing multi-trillion dollar industry and has the potential to become a leader in the aftermarket/vehicle accessory space. According to Deloitte and many other prominent sources, the EV sector is expected to enjoy a ~30% compound annual growth rate through 2030 and possibly for decades to come. Therefore, Imagine this as an opportunity to own a platform that can channel all of your current and future businesses in the growing EV industry! For the new owner(s), here's a lucrative opportunity to own a well-branded store in the automotive space and the potential to take it to new heights.
The Sale Includes:
1) Custom Designed Store( Includes Shopify Account)
2) All Brand Assets
3) Professional G-Suite Business Email
4) Premium Domain Name
5) Disclosure of Current Suppliers
6) 2,100+ Products
7) 15 Apps to Ensure a Seamless Customer Viewing and Buying Experience
8) All Social Media Accounts
9) All Website Content and Files
10) Growing List of Brand Loyal Affiliates
With that said, the investment opportunity for this store is $60,000.00 I believe this is a very fair price considering how much time, money, and effort went into the overall development and design for the store.
Here's how I'm valuing my growing online store at $60,000.00: I am starting with the $108k valuation given to me by Exchange Marketplace. I am then discounting it by ~45%! Additionally, I am taking the average of the net profit for the past six months including this month of ~$3,200 and multiplying it by 19 months to get ~$60,000. You should receive your investment back within 1.5-2 years at its current state. However, if you grow the store's revenue and net profit over the course of the next 1-2 years, then you could get your investment back a lot sooner, possibly within 12 months! I personally believe EVs such as Teslas are expected to further increase in popularity as more influential companies recognize its appeal, and are expected to attract and reach more demographics. Thus, increasing the potential for the store to capture a larger market share and attain an influx of sales. It's very possible to scale this store to $15k+ in net sales per month and $5k+ per month in net profit. Therefore, at $60,000.00 this store is a very good investment for the hungry entrepreneur or anyone with drive and ambition. It's the perfect opportunity for someone or a group of individuals to build on something that can have a very large impact not only today but more importantly, for years to come as we transition to an all electric and autonomous future.
I kindly request that you only reach out to me if you are seriously interested in purchasing this business at or around its asking price of $60k. The price is firm, so if you plan to make an offer below $60k, please do not reach out to me. Please understand that at the $60k ask, I'm only netting ~$42k after Exchange's fee and federal/state taxes I have to pay on the net proceeds. For me, $42k is one year worth of income that the store would otherwise generate (based on the last six months), so that's why I've priced it as such and that it's worthwhile for me to let it go at. If I was to take a lower offer, it might not be worth it since the store is doing ~3.2k in net profit each month give or take several hundred dollars. Every established business that's out there has an initial investment that's required. I've spent thousands of hours on it and getting it to where it is now. Selling it for anything less would be disappointing. Additionally, it's preferred you live in the USA for you to purchase this store. If you live in a country outside of the USA, please reach out and we can discuss a way for you to operate the store. Make no mistake, you can still operate the store if you live in a country outside the USA, but since our customers and suppliers are primarily based in the USA, it's more easier. However, we can discuss ways for you to make it work. I have also included screenshots of Profit & Loss statements for each month for 2021 including a month to date P&L for this current month. Please view those and if you want to see the first page of bank statements corresponding to those months, I can also provide that as well. Lastly, No requests for partnerships, investors, companies promoting their software, or consulting agencies. Thank you.
The reason of selling this business
I have started a corporate job which doesn't give me enough time to devote to this venture any longer. Also, I don't have the ad budget to scale the store to 6 to 7 figures.
What's involved in running this business
The whole store is partially automated through our wholesale suppliers, which allows you to order and fulfill products directly from them. Very minimal time is required to operate the store. Day to day operations involve fulfilling orders, and handling customer questions and/or concerns. I primarily rely on organic reach, Google Search Ads, and influencer marketing to drive targeted traffic to our store. Currently I have several YouTube influencers who are our affiliates. Every month, if an affiliate has generated any sales with their link, you will have to pay them through PayPal or another manual payment setup via Refersion, our affiliate tracking partner. Occasionally, some products will run out of stock and the supplier won't update their inventory so you'll have to override the product with another supplier that is selling the same product. Apart from this, nothing else is required. The new owner has the potential to scale this store to over six figures in revenue or higher with Facebook Ads and Google Search Ads. Also, the new owner can drive additional sales through targeted e-mail marketing campaigns.
Traffic and Performance
- Avg. revenue /month$6,574Verified
- Avg. sessions /month7,022Verified
- Avg. profit /month$3,187
- Profit Margin40%
- Avg. sales /month30
- Shopify plan
- All Apps and G-Suite Business
- Affiliate Commissions
- Affiliate Marketing Software
- Business Phone Number, Wholesale Supplier Membership Renewal, Theme Support Renewal, Professional Business address, and LLC Annual Registration Renewal
Physical inventoryNot Included
Logo and branding assetsMain logo file will be sent to you.
Personal support after saleI will personally provide 3 months of one on one support to the new owner on how to operate the business. This will include general store operations such as order fulfillment( ordering products), handing customer concerns/questions, and general marketing/ outreach efforts to grow the store. Furthermore, I will provide templates and scripts on how to engage and deal with certain situations. It will be my priority to ensure a smooth transition for the new owner and continued support over e-mail if necessary. Ultimately, my goal will be to make sure the new owner is successful with the acquisition.
Product photosYou will get them as part of the sale.
SuppliersI will provide you with all of the suppliers that I am working with for the store.
How to grow this business
I have barely scratched the surface of what can be achieved with this store. The store's sales can be grown exponentially by starting Facebook Ads, Instagram Ads, Microsoft Ads, and scaling Google Search Ads. Currently, it's driving traffic and sales from Google Search Ads, organic search, and several influencers as my affiliates. In fact, Facebook Ads were never ran on this store, so the potential for long term growth is very promising. Furthermore, implementing different marketing channels such as Walmart, Sears, and Bonanza can result in more sales. Additionally, more sales can be driven through e-mail marketing, social media marketing through daily Instagram, Facebook, Pinterest, and Twitter posts, and through scaling the affiliate program. I haven't spent time with these, so the opportunity to develop these channels and drive converting traffic is limitless.
Skills to have
If you plan to grow the store through paid advertising such as Facebook Ads, Google Ads, or Microsoft Ads, it would be helpful to learn how either ad platform works. Since we mainly generate sales from our affiliates and organic search, we never needed to run Facebook Ads. However, if you plan to scale this store to 6 figures or higher in recurring monthly gross revenue, learning Facebook Ads would be helpful. With that said, it isn't required as it can always be outsourced to an agency or a third party that can run ads for you.
Our features for a secure experience
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- Dedicated migration team
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