- Avg. revenue /month$539
- Avg. sessions /month931
- Avg. profit /month$167
Why this business was started
I noticed I had friends and family spending $100-$200 on watches that in my opinion were very low quality products, and I urged them to buy other watches that I think hold more value. Doing research for them, I realized I could sell a superior product at a lower price point, and still make money. Using my knowledge of watches, business degrees, and pricing/marketing knowledge, I was able to create a low cost, easily sustainable business model that satisfied a need, and was profitable. I believe this business can grow much more substantially if more time is put into it. I already have additional business plans and contacts to take the next steps.
The reason of selling this business
I am currently working full time as a Financial analyst at a multi million dollar HVAC company, and my responsibilities are growing. As my responsibilites grow, I have less and less time to invest into the business. There is lots of room for growth, and I have multiple plans and new suppliers to help us grow, the time just needs to be invested.
What's involved in running this business
Posting to social media everyday, keeping up to date with discontinuing products and updating new products, and fulfilling orders via oberlo.
Traffic and Performance
- Avg. revenue /month$539Verified
- Avg. sessions /month931Verified
- Avg. profit /month$167
- Profit Margin32%
- Avg. sales /month8
- Shopify plan
- Skype Phone plan
- Ebay Fees (This is an average per month - Ebay only charges when an item is sold)
Physical inventoryNot Included
Logo and branding assetsAll logos and branding will be sent via original source files.
Personal support after saleI will be available for support for 3 hours a week for 30 days, or an hour and a half a week for 60 days.
Product photosAll photos are provided by the suppliers in Oberlo
How to grow this business
Continue to add new models that our suppliers come out with, and communicate it with our past cusomters. Many customers are repeats. Buying some inventory to have on hand to decrease shipping time would probably help as well. I have new contacts to bring on some name brands that have quite a good profit margin and brand recognition.
I have seen an increased demand in our jewelry, and am planning on adding women's and men's jewelry to our store. The margin is also much better on this.
Skills to have
Skills/knowledge to have:
Need: -Basic understanding of types of watch movements and complications
Beneficial: -Basic knowledge of high end watches (most watches from our suppliers are homages) -Have a basic understanding of how to do basic watch repairs/modifications (battery replacement, band replacement, etc). Having a basic understanding to help describe to a customer how to perform these tasks will help create a relationship and trust.
-Most if not all of these skills can be learned by browsing forums, other watch stores, and/or youtube videos
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.