Looking for a new Business? See if you qualify below. Hi, my name is Roson Chea, and I’m selling my first eCommerce website. Source, Store, Ship out products or simply adopt the DropShip motto.
Touch a value for a description
Products on this website often indicates Social Status, as celebrities are often seen with hoverboards, the vast majority that are up to date with the latest trends highly desire these products. The trend has only stabilized in the last 2 years since its inception.
See if you are qualified to buy this website by answering a few questions:
Do you know how to source products?
Do you know how to drive PPC or other traffic to websites?
Do you have good credit to apply for medium ticket, high volume merchant accounts or already have good history with your current merchant provider? or Decide to use a Paypal account for payment?
Proceed only if you have answered yes to all 3 of these questions or have a method to accomplishing the task.
Please briefly describe the business model
We sell hoverboards on a eCommerce website and a contractor ships it out.
When was the business established?
How long have you been is business?
Approximately 6 months, with a 1 month company vacation in between.
How has the business evolved since it was first established?
After finding a source of suppliers, we imported and stored the shipment at a contracted location to be shipped out on demand from the contractor’s location. We have had great success and hope the right person would care for and scale this business even further.
Who is your typical customer?
Celebrities show off on them, Kids and Teenagers love it, College students utilize it, Parents and Grandparents pay for it. - I love it myself.
Are you the original owner of the business? If not, when did you purchase it and how has it evolved since?
Yes I am the original owner.
Why is the business being sold?
I have just sold out and nearly out of stock last year 2016, and currently pursuing other interest.
Please list all domain names that are included in the sale:
OPERATIONS & MAINTENANCE:
Owner: Approximately 1 Hour per week. Follow up with contractor to see if anything changed.
Contractor: Approximately 3 hours per week, Maintain Bing Ads PPC, Printing Labels, Taping Labels on Product, Dropping off package or scheduling Pickup from FedEx, answer any questions from customer email support, call back any customers that leave messages.
Does the owner of the site need any specific skillsets in order to successfully maintain and manage the site?
Negotiation skills to obtain stock if you plan to keep stock as I did. Alternatively, you can negotiate to have products drop shipped, but you get much better ROI if you are able to keep stock yourself.
Bing Ads or other PPC or Traffic driving skills is a must. You can have a contractor do the marketing as well, but it is good to at least know the basics.
Medium Ticket, High Volume merchant account is best for scaling.
I had a Medium Ticket, Low Volume account, and had to cap my sales at 2-3 sales per day. This was a learning experience. Speak with your merchant service providers and get a clear picture of how much they approve you for. If you have excellent credit, or a decent history with the merchant providers, they may approve you with high volume medium ticket ($250-$600) average ticket, you will be able to scale to as high as you are allowed.
How do you handle customer support and what is the average volume?
My contractor handles it. Pick up Phone calls when ever he can. If not, get back to customers later on if they leave a message. Get back to customers through email or calling them directly. Average volume is 1 or 2 per month.
Do you employ any people or use any freelancers and if so, are such contracts accounted for on the Profit & Loss Statement and transferable to the new owner?
Yes, I employed 1 contractor. The contract was not accounted for as my profit was based on Shopify dash board and losses was based on bank account. Losses partially also included meeting potential investment prospects at different city and states (*cough* vacation) as it was derived directly from the bank statement.
I paid $500 per month to the contractor (friend) to store the stock in his garage (took like ¼ of his garage space) and also to ship it out every few days. I paid him directly from my personal account instead of the business account. He will not be available to continue this contract as he has reclaimed the garage space. But you may find some college student or someone you know with the extra space and time willing to do the same. Speak with them and make sure they understand the space required and terms.
TRAFFIC & MARKETING
What are the primary traffic sources of the site?
Primarily Bing Ads PPC. Some organic, and some returning customers and word of mouth.
Have you done any Search Engine Optimization? If so, what level of SEO effort is required for the site to maintain its current traffic levels?
SEO was not done besides what naturally occurs.
To your knowledge, has the site ever received any search engine penalties (manual or algorithmic)?
What level of SEO effort is required for the site to maintain its current traffic levels?
None as I primarily use PPC as I could easily control the sales by limiting my ad budget. Alternatively, Shopify allows you to blog directly on the site if you enable it which I believe increases AdRank and SEO.
Do you or have you ever purchased traffic? If so, please provide a brief overview.
Bing Adwords was our primary source. Average Less than $30 per day. Check the Ad Spend Proof below.
Do you run any other marketing campaigns, such as display advertising, social media marketing, offline advertising or anything else?
We have not attempted to as my sales are capped from the merchant services and I had limited stock. But if you have a high volume account, you can seriously benefit from it.
How does the site rank for related keywords?
Not sure about this one.
Which payment processor(s) does the website utilize?
Paypal and Bank of America Merchant Account.
Please confirm that all revenue sources are transferable to the new owner
Yes, they will just need their own PayPal account as a basic processor.
Bank of America is not transferrable. But you should seriously consider getting a Merchant account with high volume and medium ticket ($250-$600) average. Just ask your bank after purchasing. It's easy to implement too.
Are you able to provide live revenue verification?
Absolutely. Please check the attached documents.
Is the website’s revenue kept separate from other businesses and/or personal accounts?
The revenue flows to either Pay Pal or Bank of America depending on what the customer prefers. The proof of revenue from the Shopify Dashboard is extremely credible.
Please provide a brief overview of your average profit margins and how have they evolved over the last 12 months?
Please check out the attached documents. We were capped at 1-3 sales per day as this was my first business and the merchant account providers only allowed me a quota. I have since held my urge to scale, lest I offend the risk management team at merchant service and get my account shut down. As you can see at the month of October, we stopped the ads and we enjoyed a business vacation. :) This business motto allowed me to enjoy much of my time where I want to be and work when I want to from anywhere I want to. :)
What is the site’s average Refund/Return rate over the last 12 months? What is the primary reason for the returns?
We have had 0% refunds, but less than 5% exchange or repair. Our policy protects us and we were not obligated to exchange the hoverboard due to abusive usage, but our contractor found easy fix online and was happy to perform the task, and if the customer was adamant, we honored the exchanges as well, therefore our customers were extremely happy and grateful. Small expense for us and more good karma to us and extremely happy customers is a win/win for us. J
What are the main expenses of the business (please list any recurring expenses that account for more than 1% of overall revenue)
Product or Dropship: You Negotiate. Usually the more you buy, the cheaper you can negotiate. Otherwise you can negotiate to drop ship if you don't have storage space or don't want to go through the hassle of storing and shipping. Pro and Cons on each depending on how you want to operate and what ROI percentage you looking for. I have successfully done both with this shop.
Contractor: $500 / Month
Bing Ads: $2500 for 6 months
FedEx: $20-30 per shipment
Shoplify Subscription: $30 / Month
Domain hosting: $2.99 / Month
If necessary, do you have tax returns available to support your revenue claims?
We have less than 1 year in business, but maybe after I finish my tax returns, should be no problem.
What platform does the website use? (e.g. WordPress, OpenCart, OSCommerce, etc.)
Has the website changed platforms in the last 2 years?
Where is the site hosted and does this need to change after purchase?
GoDaddy. Domain ownership will be transferred after completion of transaction.
Please describe your main competitors
What makes the website better than its competition?
Both of the above brands are far more expensive than ours and we have a proven converting website design and personal touch to customer satisfaction and customer support. Always go above and beyond for your customers as they are the ones paying the bills and funding the vacation trips, oh and Brazilian BBQ, and Lobster Rolls, and I will never forget the toro :)
Do you own any other internet-based businesses? If so, are any of them related to the website being sold?
Yes, I own a few websites and blogs, but they are not related to hoverboards.
Are you willing to sign a 3-year non-compete contract in the industry that the website operates in?
Will you provide 1-3 months of post-sale support & training, in order to ensure that the buyer is able to fully take over the business and its operations?
I would love to.
What are the primary growth opportunities that you see for the business going forward?
Ideally the person who purchase should have good credit to obtain a good merchant account with Medium Ticket/High volume. I invested less than $30 per day on adspend. And get 1-3 sales a day. I would have scaled it, but I had to cap my sales quota. Also I was limited on stock, so I decided I did not need to scale but took a passive business approach. If the right buyer knows his stuff, have sufficient resources to stock up and ship out or even send to a fulfillment center,… Well, you do the math. By multiplying the ad spend, you also multiply the sales. Using different marketing channels, etc. would greatly boost sales as well. So yes, the potential is there for the right person.
Are there any geographical limitations to the potential buyer of the business (i.e. do they need to be based in a particular country, region or time zone to handle customer enquiries or to take over the financial and other accounts)?
No geographical limits that I know of. Just make sure Shopify, Paypal for basics.
Do you have anything to add to the above?
This was my first business and my baby. Take care of it likewise, and you should see it grow. The ideal buyer should have some experience in sourcing products, holding stock, running eCommerce, running traffic, or able to delegate the work according to his desire motto.
Thank you for checking out my listing, and good luck bidding!
|Site Established ?||June 2016|
|Built With ?||—|
|Google Analytics Detected ?||No|
|Domain Registered ?||6 May 2016|
|Content Unique ?||Yes|
|Design Unique ?||Yes|
|Pages In Google ?||19|
|MajesticSEO Inbound Links ?|
|SEOmoz mozRank ?|
|Alexa Rank ?||8,311,730|