Facts and Figures
The business I am selling is a Shopify store specialized in selling fishing products. We are using the dropshipping model, so there is no inventory to go along with business. We have established relationships with our suppliers and we can source our products from China or the U.S. for faster shipping. Overall, it is a fun way to make a living online with minimal work.
Social media accounts are active and have a following of over 26,000 combined on Facebook and Instagram, as well as a YouTube channel.
How can the future owner improve this business?
Marketing / exposure
Social media ads are easy to create for this niche
One good ad can produce thousands of dollars in revenue
- Large Customer Database
- Outsourced Order Fulfilment
- Passive Revenue
Opportunities for a new owner
- Improve Current Marketing Efforts
Customer support (1-2 hrs/wk); Most are about shipment information. Having scripted responses makes the process easy. For a very small cost, hiring a freelancer from UpWork to do these emails can be done as well.
Ad creation (3 hrs/Month); Creating solid ads doesn't take much effort for this niche as fishing is an easy topic to cover and sell the products we have.
Fulfillment and Assembly
-Order Processing (3 hrs/wk): This business uses an app called Oberlo to fulfill our orders. It is as simple as a click of a button, let the program run, and click confirm, and the order is placed. Orders can be done daily or every other day. Again, an UpWork freelancer could do this job for a very low cost.
-Marketing (1hr/week): Daily adjustments of ad budget is suggested but does not take more than 10 minutes per day.
-Business Development (0 hrs): Currently, no time is spent on business development. There are interesting options to explore such as partnering with web shops and resellers for other sales channels. Potential partners are reaching out to Banana Boat every now and then.
Customer Profile and Segmentation
Our target market is 35 to 60-year-old males with an interest in fishing and outdoors.
100% of our customers are from the US.
Customers have been acquired primarily via Facebook and Instagram campaigns which represent 95% of total traffic.
Traffic driven by SEO represents 5% of the total traffic.
Our CAC (customer acquisition cost) is approximately $10 per customer for new customers.
Customers are retained by advertising new products and sending out promotion via a mailing list.
The mailing list currently has 11,000 active subscribers.
Private-label products available through our supplier
Freedom to run business from anywhere in a world
Multiple potential ways to grow business worldwide plus expanding through other sales channels
Fun and active Niche
Mostly automated business, aside from admin and planning processes (2-3 hours per week)
Dropshipping model (no inventory)
Usually, the more dollars spent on advertising, the more traffic and sales the business will receive. Creating good ads is important to the business and video has worked best in previous experience. Overall, a really easy and profitable business to run if it is done with discipline.
- Trademark and LLC
- Email Lists
- Social Media Accounts
- Shopify Store
Post sale support
This is support provided by the seller when transitioning the business to a buyer.
About the Seller
Pendulum Insight, founded by Colton Moffitt, manages Flippa auctions on behalf of sellers whose assets offer stable performance and clear opportunity for growth under new ownership.