- Avg. revenue /month$7,928
- Avg. sessions /month17,413
- Avg. profit /month$1,181
- Inventory value$11,705
Why this business was started
I started this brand because I have always wanted to start a business. eCommerce has become fascinating to me in terms of the opportunity it represents. (Anyone with a WIFI connection can now be an entrepreneur; that's awesome!).
For this brand specifically, I started it to be a force of positivity in the wake of the coronavirus. I see Face Masks as a long term market opportunity, and so we sell Face Masks as our front-end product. These Face Masks are stored in a warehouse outside of Chicago and are fulfilled by a company called ShipBob. We also drop ship products through our back end funnels.
The reason of selling this business
I have decided to sell this business in order to focus on a new project of mine. I am starting an eCommerce Consulting business based on what I have learned by building this brand, and developing a software tool to help people run profitable Shopify stores.
I am simply unable to devote the time that is needed to growing Yugenite to the next level, and believe it would be better off in someone else's hands!
What's involved in running this business
I have already mentioned the opportunities where I think MORE time should be spent. In addition to that, this is what I typically focus my time on:
- Managing Native Ad campaigns with RevContent
- Running Email Marketing campaigns
- Customer Service (Though, I recommend outsourcing this). I will provide a list of the FAQs and my common responses.
- Managing ShipBob for any issues with Order Fulfillment
- Running financials 1x monthly to monitor performance and make budgetary adjustments
Traffic and Performance
- Avg. revenue /month$7,928Verified
- Avg. sessions /month17,413Verified
- Avg. profit /month$1,181
- Inventory value$11,705
- Profit Margin9%
- Avg. sales /month364
- Shopify plan
- Inventory warehouse
- RevContent, Google
- Fulfillment Fees (per order)
Logo and branding assetsOriginal logo files can be emailed to you.
Personal support after saleI will help train on two unique tools we use: 1. ShipBob, used for order fulfillment. I will transfer the account to you and show you how to use their simple interface. 2. RevContent: This is an easy to use Native Ad platform that we have used with great success!
Product photosAll that is included with the store is all yours. Can send additional image files if needed, as well as some banner display ads if you want them.
Social mediaNot Included
SuppliersI will give you supplier details for the various face masks we sell. You will also inherit the Oberlo suppliers through Shopify.
How to grow this business
I will be perfectly honest. I believe this business has huge upside potential, but I have not spent as much time as is required in order for it to be hyper successful to date. I have simply been working on too many projects at once. As a result of this, the Revenue/customer numbers are very good, but we haven't achieved the level of profitability that I know is possible with this store..
I believe that with a bit of optimization and time, and by focusing on the opportunities outlined below, the store will become more profitable and then scale very well. Here are the areas I would focus on if I could devote more time to Yugenite:
- Getting Started with Facebook Ads
- Building a Social Media Following
- Optimizing Google Campaigns
- Leverage Brand Goodwill / Email Marketing
- Expand Product Line
- Blogging / Content Marketing
Focus on Subscription Revenue
Getting Started with Facebook Ads: Due to some issues with my Facebook Business Manager Account, I have been unable to advertise with Facebook. So all the numbers you see were achieved without spending on Facebook Ads. Instead, I primarily used Native Advertising through a platform called “RevContent”. If you are good with Facebook, you have the opportunity to cut costs with cheaper CPC Ads, and drive additional revenue. Thus, this is a huge opportunity to make the business more profitable.
Building a Social Media Following: Due to my time constraints, I have not focused AT ALL on growing a social media following. You are starting from scratch here, and my asking price reflects that, but that also means it is a big growth opportunity.
Optimizing Google Campaigns: I have run a smart Google Shopping Campaign at $5 per day for quite some time. It is just starting to generate a profitable return on investment after months of auto-optimization done by the algorithm. But, again, I have spent 0 time on managing and optimizing the campaign myself. So, if you are really good with Google Ad Campaigns, this is a huge growth opportunity.
Leverage Brand Goodwill / Email Marketing: The brand has a huge amount of goodwill with customers, built up through a coordinated email campaign spreading positivity in the wake of the coronavirus. A well-designed Referral Program could be implemented to leverage this, generating Word-Of-Mouth growth.
Expand Product Line / Market Fit : While the face mask industry saw a huge and (admittedly) temporary bump in demand because of the coronavirus, there is long term staying power to the demand growth in this product market. People will continue wearing Face Masks for a considerable amount of time. Expanding the product line to include masks of different styles and price points is a good opportunity.
Blogging: Content / Inbound Marketing : I started blogging for the website and found some success in generating sales specifically from my blog posts. You can view the evidence for this in the Matcha App, and relevant screenshots included with my listing. However, again, I did not devote significant time to this, and believe that you would achieve fantastic results if you did!
Focus on Subscriptions: I began implementing a Subscribe & Save model with some disposable face masks, as well as Disposable Filter inserts that come with some of the masks we sell. This generates predictable, recurring revenue. Focusing on growing the number of subscribers has huge growth potential and is another big opportunity to reduce marketing costs and increase profitability.
Apologies for the excess of detail. But as I said, I really believe in the potential of this brand!
Skills to have
Generally speaking, the main revenue driver from a marketing perspective has been Native Advertising. It is very simple to use the RevContent Platform, and I will be happy to show the purchaser how to manage the campaigns we have set up.
Additionally, I would say the skill of connecting with customers and focusing on good customer service is important. The customers generally love the brand and that culture should be fostered!
Plus, learning the ShipBob interface for order fulfillment will be important. I can train the purchaser on this if needed as well!
Other than that, I think the standard skills involved in running a store (running Ads on different platforms, email marketing, etc) are sufficient.
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