Founded in June 2020, this tapestry business has processed over 2,000 orders, generating more than $100,000 in revenue. The business leverages social media platforms, boasting 5,500 Instagram followers and 2,200 Facebook likes, effectively using these as catalogs for potential buyers. A weekly newsletter featuring the latest and best-selling tapestries reaches approximately 1,000 email subscribers, averaging a 26% open rate. Additionally, the business has a list of 820 SMS subscribers, though this potential marketing channel remains untapped.
Recently, the supplier expanded the range to include XL and XXL sizes, not yet updated on the store. This presents an opportunity to increase the average order value, as the XXL size costs only $4 more to purchase but can be sold at a $20 higher price point. The current business model involves purchasing tapestries through a reliable supplier and fulfilling orders using an efficient bulk ordering tool.
Despite its potential, the owner is selling the business due to commitments to other non-dropshipping ventures and a full-time IT job. With existing brand assets, domains, manufacturing relationships, social media accounts, and website files included, the business is positioned for continued success. Currently, a subset of their tactics allows orders to range up to $300, contributing positively to revenue. However, recent explorations into new inventory affected net profits, anticipated to improve moving forward. Post-sale support will be provided to the new owner to ensure a smooth transition.