The Gold Kingz Is an Online Jewelery store that my team and I have created, targeting the fashion trend in the Hip-Hop Culture. Our Products Range From Gold Chains, such as 14mm Cubans, Cuban Links, and Rope Chains To Pendants, Watches, Rings, Bracelets, ect. Our Store has done extremely well over the past year, Generating over $32K In revenue, and has quite a good SEO ranking. The Gold Kingz is also very well established in the market, With Over 2000
Financials and traffic
1 Order would usually cost the customer around 120$ on Average. The Product itself will cost 35$, and Ad spend per day was around 15-30$. Therefore, The Profit is at least at 50% Just By making one order per day.
Average overall profit margin
Average number of sales/month
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This Store has been fully functional on its own for over a year, and has done extremely well generating over $3K Per Month for the past year. No inventory is required as the products are dropshipped straight through Oberlo. This Store Requires a maximum of 2 hours per week of work. Selling at a much lower price than valuation. Valuation is listed as $24.5K.
How can the future owner improve the business?
This Store could definitely be improved into something quite major. In my case, i was not able to dedicate enough time to the store as i am in my final year of my Degree, however with barely any time this store ran on its own extremely well. This store could definitely be improved by adding new products, and collaborating with influencers On instagram and other platforms.
What work have you put into the store?
I have created the website myself, as well as find the right suppliers and the right products to sell to my target audience. The Store also comes with a Facebook page that has over 2000 Likes. It is a well established store and extremely capable of going for even better things.
How many hours does it take to run this business per week?