I Bought an Online Store on #shopify! What You Need To Know | Shopify Exchange | e-commerce

so that was something else i wanted was to build a company that could operate independently of me. but i didn't want to build a company, and that's where the shopify exchange came in. hey guys, i'm tanya raffley, and welcome back to my youtube channel, where i tok about things related to entrepreneurship, motherhood and just living a joyfully aligned life, because that's what i'm all about today's video. we're going to tok about my experience buying on the shopify exchange. all right, guys, so i'm just going to dig right on in, because i don't like watching videos for the fluff. i'm not going to fluff y'all. and so when it comes to buying a business on a shopify exchange, it can be a varied experience for others. this is my experience, so the shopify exchange is a place where you can buy existing shopify businesses that no and the owner no longer wants to keep them. so if you have a shopify business and you are tired of that business or you are ready to move on to the next things, you can sell it on the shopify exchange. me, my husband, purchased the company club blue phone on the shopify exchange in november of 2019.. prior to that point, i had been looking for another business to purchase. i knew i wanted to add another business to my portfolio, but there were certain things that i just knew i wasn't willing or able to do. prior to buying club luffa, which is an e-commerce business, i successfully operated myfat finance, a financial education business that has impacted the financial lives of thousands, and i love the work that we've done. but i also am a person who's always looking for what's next in my life, because i knew i didn't want to be a financial educator until the end of time. i like numbers, but i don't love numbers unless it's money in my bank account, and so i decided to start looking for other options and started putting it out there and toking to other people. that was really important for me is to put other, put out my intention to other people, and putting that intention out actually brought club luffa right to my inbox, literally. my little sister had a business on the shopify exchange. well, she had a business on shopify and she closed her shopify business and before she closed it out, shopify asked her if she wanted to sell it on the shopify exchange. a lot of people sell their drop shipping sites on the shopify exchange and it's easy to do that because with drop shipping, you aren't carrying any inventory. but club loofa was not and is not a drop shipping business. we hold them inventory until we move into a warehouse. the inventory is with us in our storage facility or with us what we have on hand to do order fulfillment. i decided to buy an online business because i was in the service based industry with myfab finance and i realized how much of a challenge it was for me to scale it and what i needed to do to scale it. i didn't want to do that, to scale it, for it to become a multiple six figure business. i kind of have some commitment issue guys and like there are certain things i need to do, like show up regularly and da, da, da, da. and i didn't necessarily become an entrepreneur for that. i became an entrepreneur for the freedom and flexibility and i wasn't willing to do those things. yes, you do need to be consistent when it comes to a product-based business, but it's easier to scale that because you can hire out my service-based business. i am and was the face of that business. rather, with club luffa, i'm not the face of it. the company can operate independently of me. so when i was looking at the businesses, so actually my sister sent me club, like that was the first one she sent me and so forth. but then i was like, what is this shopify exchange? and so i started looking through the website and looking at the different businesses they had, and for me, the business had to have like a few things. the first one is it legitimately had to be a good idea, because, let's be honest, all business ideas they're not good ideas. the second thing was it needed to be established, and so i did not want to go through branding and coming up with a name and all this other stuff that comes along with starting a business, like i- no, i just wanted to buy something and run with it. i didn't want to like have to lace the shoes up and everything. i just wanted to run along about my merry way with it. so it's important that it did that. and then i wanted to. i had to see the opportunity to grow it like. for me, when i looked at the business, i just say, okay, this is what i feel they aren't doing and this is what i feel that i can contribute to it. there were certain businesses that i was like i don't know what needs to be done with this. i don't see, but with club luffa it was relatively clear to me: they nestle. they weren't necessarily running ads, um, they didn't really have a strong social media presence, and there were a few other things that i found out. once i purchased a business that now in retrospect like, oh okay, those were glaring. will i purchase another business on the shopify exchange or purchase another existing business? yeah, i do it. i'm learning a lot with club blue for right now and it's been a humbling. a humbling, a humbling experience, guys. i thought i was just gonna get in here and like slam dunking, like jordan is like no boo, wait a minute, sit on the sidelines. you gotta figure out how to do this. this e-commerce thing is very different and i thought, just because i sold a few books on my fat finance website and we have a best-selling book on amazon and all that stuff that you know. no, there is still so much more for me to learn and i'm still learning, but i would do it again, okay. so when i purchased the site, um, when i reached out to the seller, the seller was just a. i have to say, the seller who i bought club luffin from is a good person. we're still friends on social media. he's just a good person and so that was that the initial conversation. i saw it. i reached out to him, let him know that i had been reviewing the site and so forth. i actually had been looking at club luffy for two weeks before i actually emailed him, emailed him, we got on the phone and everything he said. you know what? i'm so happy you reached out to me because i just sent the email today to let them know that i'd be pulling the plug because it's been up for sale for the past couple of weeks and no one bit, and so i was just going to close the business. but if you want to buy it, i'll give it to you for 3 500 off the asking price. where do i send you the money? that's exactly how i felt. um went ahead, toked to my husband about it. we had, like we spoke to. i sent my husband an email toking about it, told him what my game plan was. the owner had that money within. what we had to do is we. he initiated the sale on shopify exchange. the money was put into escrow, so we had to put our funds in the escrow to let him know that we had it and that we were serious. then we ended up meeting up with him because- look at god, the way that god works. he was actually based in riverside california, right outside of los angeles, where we previously lived, and so we went to meet with him in riverside. we got like all the iep that we needed for the business, including passwords and everything else. he walked us through how he did order fulfillment, took us to the storage facility and everything else just really just showed us the rails of it. we brought all the inventory from that storage facility to the one that i had purchased. so once we went into escrow, i went ahead and purchased a storage unit to put the items in. with our deal came seven thousand of their loofahs and products that they had. let me tell you, 50 loofahs are heavy, seven thousand. we had an entire u-haul truck bumping down. um, i don't know what that was. we were driving down the highway listening to nifty hustle because, yes, we're doing things. and we took it. we moved him into our storage unit and so forth, and after we confirmed that the owner had given us everything, escrow closed out, he got his money and we were able to successfully take ownership of.

I PAID EXPERTS On FIVERR To Run My WHOLE Shopify Dropshipping Business

so in today's shopify dropshipping video challenge experiment, i'm gonna be going to a website called fiverrcom to see if i can fully automate one of my brand new shopify dropshipping websites in 2022. to see if i can make a great profit by just sitting back, relaxing and hiring different freelancers. hey guys, welcome to the youtube channel. my name is camille sutton as the ecom king, and in today's video, i'm gonna be going to fiverrcom, which is where you hire loads of different freelancers that are expertise in their different industries, to see if i can fully automate all the processes needed in a brand new shopify drop shipping website. that ranges from product research, building a shopify store, making some video ads for my product and running facebook ads by a facebook expert. to see if i can sit back, relax and watch these different freelancers run my dropshipping store. to see if i can make a great profit. so in today's video experiment, i'm gonna be doing a massive giveaway by giving one of you lucky viewers the chance to win this whole drop shipping business that i got made from fiverr and that's gonna contain the cheat sheet of winning products that i got sent. it's going to contain the shopify store that was made. it's also going to contain all the video ads that i got made, and it's also going to contain the ad account and the pixel that i got used to actually run the ads for this store. now this giveaway is worth between 2500 and three thousand dollars, and all you have to do to enter the giveaway is we need to hit 5 000 likes on this video, you need to subscribe to the channel and leave a comment on why you want to want to win this shopify store, and once we've hit 5 000 likes, i'll be picking one lucky winner from the comment section by replying to your comment asking you to prove your instagram account by dming me, and once we've done that, i'll transfer all the assets over to you. so, before we get into the juicy part of this video, i want to go over two quick things. number one: massive thank you to fiverr for sponsoring this video, because they did pay for all of the five gigs that i used in today's video. the one thing i do want to make sure that you guys know is the money that i spent on the facebook ads did come out of my own pocket. so the second thing i want to go over is a quick disclaimer: all of the gigs i've used on fiverr. in today's video experiment, i'm gonna be giving you guys my honest, constructive feedback on each and one of them. so if i say anything, please don't let it offend you. this is just my honest feedback. i'd also appreciate it if everybody that's watching this video shows some respect towards the people that did the gigs for me, and i'd hope that you guys don't send any hate towards these people, because that's not what we're about on this channel. we're all about love and respect. so this is how day one of the shopify dropshipping fiverr challenge would have looked like, and for the last 21 days roughly, i have been doing this challenge in real life, and what i'm gonna be doing with you guys now is i'm gonna be showing you exactly what i was doing on each day of the challenge for the last 21 days. so what i did on day one of this challenge is i went to try and find a fiver freelancer that can find me winning drop shipping products, and this is probably the most important part of the process, because if you don't have a good product, then you're probably not gonna sell anything. so, as you guys can see on my computer screen, i'm on five and you can see, i've searched for drop shipping winning products and i did filter the search down by seller details and i made the seller details with top rated seller, level two seller and the actual language, english. now what does this mean? on fiverr, as a freelancer seller, you can range from level one, level two and top rated, and this is based on your reviews and your feedback on what fiverr thinks of your gig. so i only wanted to go for the premium option and actually, to be honest with you, i actually went for the option that fiverr recommended and there's something called fiverr choice and this is the one that fiverr would recommend that you choose and throughout this whole challenge, i went for the fiverr choice. when filtering down by those options. there's loads of different gigs offering to find you winning products. so take a look at this one. i will find you a winning product for your drop shipping or amazon business. they've got 4.9 star reviews and it's based on a thousand people and the gig starting at around about 40 dollars. so if we take a look at the description of this gig, you can see they're saying you're winning product. i will provide a niche product with a high demand on low competition for your amazon or shopify drop shipping business. you might be asking: how can you be sure that he can provide a winning product that can do more than ten thousand dollars a month? reasons: i do my research based on numbers, of statistiks. none of my results. decisions are made by emotion and gut feelings. i do detailed analysis with results that will be well thought out through. my research includes a detailed depth of report- about 20 pages: product choice based on analysis, competitor analysis, industry analysis, determination on market volume, trend forecast, potential revenue, list of substantial supplies and 50 high relevant keywords. now that is some substantial information that they're saying. so you're paying for them to do all of this work. so, to be honest with you, that does sound quite impressive. now, if we look to the right hand side, there's three different packages: basic, standard and premium. so the basic one offers you a product to success, one product worth five thousand dollars a month, and this is all based on data. if you look at the standard package, you're going to be getting one product list up to ten thousand dollars a month. if we go the premium package, you're getting one product worth twenty thousand dollars on. so i'm guessing he knows that the product's making 20 000, so i reckon he's coming up with these numbers because the product is actually generating 20 000 a month in revenue. i don't know how he's working this out. so this is the official gig that i've ordered from fiverr for my product research for my drop shipping store and unfortunately, this isn't the same gig that i showed you before when i showed you the description. this is actually the fiverr choice gig, so this is the one that fiver actually recommends. now, unfortunately, this salad isn't doing this gig anymore, so i wasn't able to show you there a gig page, so i showed you something very similar. but if we take a look at the gig details, you can see i ordered it on the 30th of january and i got delivered it on the second, so it took three to four days. so you can see i went with the small startup package, which was the basic package for 35, and you can see this includes five winning products: facebook video ad competitors, competitors, drop shipping stores and the aliexpress direct supplier. so you can see, when i ordered the package, the seller messaged me saying thanks for your order, i'll get this done as soon as possible. and i put: hello, thanks, i look forward to working with you. and a few days later he did send me the google sheets link to the products. so, as you guys can see on the screen, i've got the google sheets open that he sent me and you can see he's actually given me six products. and the reason why he gave me six products is because one of the products didn't come with a facebook video ad, so he actually gave me an extra product for free, which was quite nice. so these are the different products and he sent me the aliexpress urls, the facebook video ads and the store competitors. so these are the different products that he sent me. the first one was this new four ports fast charger, and the reason why i didn't go for this product was because, look at the actual reviews, these are bad reviews. i do not go for products under 4.5 star reviews because it's too risky. and then the next product:

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I Bought a Failed Business and Turned it Around

[Music]. I want to start to buy a failed Million Dollar business and then save. by implementing some new strategies. it can maybe revive it to its former glory. now, though, this is pretty risky. buying any seven-figure business isn't going to be cheap, and I could end up losing all of my money. the price points for these aren't as crazy and Out Of Reach as you may think, so I really want to try this out to see if it could be a shortcut to making a ton of money or if you'd be better off just starting from scratch. there's this really neat Marketplace called Shopify exchange, where people can sell e-commerce businesses, and because this Marketplace is owned by Shopify, the listings on here are actually connected to the stores, so the sellers can't fake their numbers or provide some phony screenshots, and even just scrolling through here can be really interesting, even motivating. you can see a bunch of these stores that have Revenue numbers in the eight figures balance of stores that have zero revenue and somehow even negative sales, maybe from returns or chargebacks or something I don't know- and as far as pricing goes, the same thing, anywhere from 50 bucks to the millions, depending on what you want to get. okay, so my search criteria is going to be. one: I want to try to find a business that's done over a million dollars in sales. two, I'm hoping, their fairly recent sales- I don't want to buy something super outdated. and three: bring water and Good Vibes. that's pretty much it. let's hop on the computer. [Music]. okay, I looked through like every listing on this Marketplace. a lot of them were just completely unreasonable: asking hundreds of thousands of dollars for drop shipping stores from like 2017.. just a whole lot of Facebook Marketplace. hey, buddy, I know what I got here, type live, but I narrowed it down to two really good options. may I may I present to you the first option: a company called Lenny lemons that's gone over 8 million dollars worth of sales in the last few years- eight million. it's a company in the baby Niche. they want 20 grand for it and it looks like they even have some inventory. that'll come with a sale which is 20 grand. for a business that's cleared over eight million dollars in sales, I feel like that's not bad, although a lot of the sales are from a while ago. Maya presents you the second option. don't buy it, I'm out. it's a business in the beauty Niche that's done about three and a half million. now. I really like this one because the sales were as recent as of this year, so I feel like we could pretty quickly get that up and running. and they're also asking 20 bands. so I don't know exactly how this process works, but I'll message both of them and get back to you. actually, never mind, you guys know me, sneaky fella, pumped fake two a little bit whoa. I hit up a few other listings as backup and off rip, we've just uncovered- I don't know if I want to call it a scam, but definitely a racket of sorts- so this one seller got back to me and basically said: hey, sorry, already sold the store, but there's this marketing agency. I credit all of my store success to let me know if you want to get in contact with it, which is just. it's got to be the craziest declined acquisition strategy I've seen from a marketing agency in a long time. so this is kind of getting my guard up in terms of scams and kind of letting my hopes down. if this is the first response we got, this this thing was kind of too good to be true. so I'll just check back in. when those other two reply- [Music] foreign ended up just never getting back to me. he probably smelled the incoming lowball offer through my email ahead of time. no hard feelings now as far as the three million dollar Beauty conglomerate store owner, Stephanie hit me back very quickly, which gave me the option to place an offer. so I shot for the stars and said 40 off, I could do 12 Grand. she said nah, I'm gonna need 16. I said let me think about it. I mean, I spent 16 at the ball on a random Tuesday, not a big deal, obviously. but while I was thinking about it we had an unforeseen circumstance. it just so happens that right when I sit down to make this video, Shopify announces that they're gonna be taking down this Marketplace entirely in like two weeks. I kid you not. this Banner just pops up out of nowhere. I mean last resort. there's also another website called Flippo we could use, where you could buy the same kind of thing. but but I think I'm just gonna try to sneak in here last second and swoop up this beauty conglomerate before The Exchange closes down. that way we won't have to leave Shopify and can process this transaction safely. and they don't work. it was already too late. so if we wanted this deal, we had to make it happen outside of this safe, trusted media. but on the plus side, me being hesitant made Stephanie drop her price to 14 000 from the original 20 and so at this price I was ready to go through with it. the seller set up a deal through escrowcom, which I've never personally used before, but apparently it's gonna act as a middle party for us. so I don't know. I'm really about to go transfer 14 000 to a stranger amount on the internet and have never even spoken to. and the thing with wire transfers: there's no going back. once you initiate it, there's no way to get a refund. oh, so we'll see what happens. [Music]. you know what, if I get scammed, it'll be good for the plot character development [Music]. after initiating the transfer, all I could really do was sit back and anxiously wait. the escrow service said they received my payment but they took forever processing it. they requested over an agreement and were just suspiciously gatekeeping this transaction. I just woke up to this email saying that my payment for the escrow has finally been secure. so I guess now the ball is officially in the seller scored. will they send me this store? I don't know at this point. it's been like a week since I've sent that payment. so I've had the time to come to peace and accept the very real possibility that I might have just got rinsed. but we'll see. now, after getting up that morning, running a few marathons, reading three books, establishing four new uncles, and having breakfast, an hour later, I got an email. my eyes couldn't believe things are different. now it's not be treasy. no more tok to me. nice it's. Mr Bia has anau, owner of multi-million dollar online Beauty conglomerate Avenue. this is an email from Shopify inviting me to become the new store owner of this business. so I think we might be in, or this is a virus, malware, phishing link, and I'm about to have all my accounts squeezed dry and rinsed. what's up, gentlemen? well, I'm pleased to announce that it was option one. we finally did it. I was now the owner of this once thriving e-commerce business. I checked the sales on the store and, sure enough, everything was as advertised, except as the new owner, I now had a new problem: [Music]. okay, so I just realized that this store has a hundred fifty seven thousand dollars worth of sales that were made this year, meaning tax has not yet been paid for the sale. so if I, as the new owner and as the person who updated the information inside of this store now receive a 1099 tax document saying that this is my income. I very well could have just spent fourteen thousand dollars to buy myself an eighty thousand dollar tax bill. no, no, no, no, we'll tok. I can't. I don't know if it's true or not. I'm about to make some phone calls and figure this out. this was, and honestly still kind of is, quite the scare for me, but I email the owner toked to Shopify support and we were eventually able to update the new ownership in the system and then, by also creating a new payment processing account, we did resolve this issue, bruh, okay, so everything with this sale has now been settled. let me show you what we got. this is where the Journey Begins. being able to look through everything in the store was really cool. I found they had a couple half a million dollar months. we could see their top selling products, which were magnetik eyelashes, followed by this mask. they recen.

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I Tried Shopify Dropshipping With NO MONEY For 1 Week

so in this video, i'm gonna start a brand new shopify drop shipping business and attempt to take it from zero dollars to over one thousand dollars in just one week. and i'm not going to be using any money for this challenge, and i know a lot of people think you can't start a drop shipping business without any money, but we're gonna prove them wrong in this video and i'll be starting the drop shipping business completely from scratch and walk you through the entire step-by-step process, and at the end of the video, i'll show you exactly how much money the business makes. honestly, i'm hoping it's gonna make over a thousand dollars, but we're just gonna have to wait and see. so i have a lot of stuff that i have to get done today, and the very first thing i want to do is just find a good product to sell, and then after that, i'm just going to find a good supplier. then i'm just going to create my online store with shopify and then after that, i'm going to start creating advertisements, and for this challenge, i'm basically going to be using pinterest, instagram and tiktok and just basically post viral videos on there for free. and yes, this method does work well, since i do use it on my current drop shipping businesses that make over six figures. okay. so the first thing i want to start by doing is trying to find a good product to sell and, honestly, as long as i can create viral videos with the product and it has high demand, it's something i can work with. and, honestly, i find about 99 of my viral products on tiktok, so i'm going to kind of show you my strategy and how you can do this yourself. so kind of what i do on tik tok is just search up tiktok made me buy it- then i'll just click on that little hamburger icon in the top right corner, then i'll just change the date posted to this month and now it's going to show you a bunch of relevant winning products that are selling right now. and some other hashtags you can do this with is amazon fines, drop shippers exposed and tiktok viral products. but anyways, i'm going to take the next 20 minutes to try to find some good products to sell and once i do find something, i'll come back and update you okay. so, honestly, i found a ton of really good products, but there is one that stood out to me the most, which is the cordless hair curler. and for anyone who doesn't know? the cordless hair curler is really convenient for females, since you can kind of touch up your hair anywhere you go, and there's so many stores on tiktok selling this product, so if they're doing well, i'm sure i can also do the same. all right. so the next thing i want to do is find a supplier that i can get the product from, and so for this video, i think i'm going to use spocket. so i found the cordless hair curler on spock it for 28 dollars and 30 cents, which is really good, and the shipping times are only seven to 14 business days, which is also ideal, and i think i'm gonna sell the product on my store for 59.99. now i've actually seen a lot of stores sign this product for over a hundred dollars, but because i do want to sell a lot of product in a short period of time and i don't want it to be too expensive, i think 59.99 is a good number to stik with, and if my customers do see that other stores are selling it for over a hundred dollars and i'm only selling it for a fraction of that cost, i'm sure they'd rather buy it from my store. now i do want to add one other product to my store, and i'm thinking just to make it an upsell. so, anyways, i found this heat protectant spray and i think it goes really well with the cordless hair curler, and i'm thinking to sell it on my store for 19.99, and it's only going to cost me eight dollars and 27 cents, which is pretty good, and if you do need a supplier for your drop shipping store, i'll leave a link for spock it in the description of this video. but, anyways, now i got the product, which i'm happy about, and so the next step now is to actually start building my shopify store, and i do want my store to look like an actual brand, and so it is going to take me a little bit of time to build it. so, anyways, i'm going to start working on the store right now and then i'll update you tomorrow once i'm done. all right, so it's the second day now and i finally finished the store and i made it look very simple and clean, and i'm going to show you the page that the customers get redirected to. so, anyways, i have different color options here, and i also did add a sales timer to create sense of urgency. i also included a ton of high quality photos, which is really important, and i also added this to build more trust with the customers. and if you scroll down here, you can see i put what's included in the package, then i tok about the benefits of buying the cordless hair curler, then i added some frequently asked questions and then i also do have a 30 day money back guarantee. a lot of customers won't buy your product if you don't have this, so make sure you do. and if you scroll down here, you can see that i did include how the cordless hair curler works, so this just makes it look really easy and straightforward. and all the way at the bottom of the page i did include some customer reviews. now, i obviously did import these reviews to my store, but usually i do have real customer reviews. but that's pretty much it for the store and i think it looks pretty good. but anyways, now that i'm done with my store, the next important thing i have to do is add a shopify app called after sell to my store, and the reason i'm going to use after sell is because it can increase my revenue anywhere from 10 to 15, which is exactly what i want. and afterstok is for post purchase upsells, and if you don't know what that is. it's basically when you offer a customer a product to purchase after they've already purchased something from your store. for example, after someone purchases the cordless hair curler from my store, i can then offer them another product to purchase. so in my case, i could upsell the heat protectant spray, since it works well with the cordless hair curler. and post purchase upsells work so well because if a customer just purchased something from your store, they're more likely to purchase another item, since you already built that initial trust, and you can even give them a really good discount on the upsell offer, which will then make them want to buy it even more. now, one thing you never want to do with upsells is actually offer them to the customer before they've made a purchase. this will just end up confusing them and they might not end up buying the product at all. but the good thing about after sell is that the upsell offer only comes after a customer makes a purchase, which is exactly what we want. but anyways, i'm actually going to create an upsell offer using after sale for my store right now and kind of walk you through the process step by step. okay, so the very first thing you want to do is go to the shopify app store and just search for after cell and it should come up. so it's going to look like this: after sell, post purchase, upsell. so let's add the app. okay, so once you're in after sale, the first thing you want to do is click here on enable settings. then it's going to bring you to the shopify page. so just make sure you click on after cell, then just click on save. okay, back here, let's just refresh the page. okay, now the first thing we want to do is actually just set up our first funnel. click here on create and i'm just going to name this funnel: heat protectant. so here i want to click show this funnel to all customers. since i only do have one upsell product. okay, now i'm going to choose the upsell product and basically what i'm going to be upselling is this heat protectant spray. now, the cool thing here is, if the customer actually does end up purchasing this product, you can offer them another upsell, and if they decline this product, then you can offer them a downsell. now, since i don't have any other products, i'm just going to keep it like this, but you can add products in here. now. next thing i want to do is click here on edi.

I Tried Making Money With A Pre-Built Shopify Store (Scam?)

every single day, i get ads for pre-built shopify stores, and the pitch is always the same: for just 17, they'll give you a store that is instantly ready to make money. now, as someone who makes a living from e-commerce, i've always thought it sounded a little bit too good to be true. so today i'm going to be buying one of these stores, launching some facebook ads and seeing if we can make some money with it all. to answer one question: are pre-built shopify stores worth your money? let's find out. if you're new here, my name is jordan and i'm currently documenting the entire journey of growing my ecommerce brand. so if you're interested in starting your own online store, make sure to subscribe for new videos every single friday. so i'm gonna go wait until i get an ad from one of these guys and then we're gonna buy our store a few moments later. all right, i was just listening to some music on youtube and i finally got the ad that i was looking for for my boy, mikey cass. he's giving away eight of these pre-built shopify stores, so i want to get it before it's too late. quick shout out to mikey as well. i i've known this kid for a while, so no hate in this video or anything like that. the store is actually only 17 and it comes with 32 products, 180 paid theme. honestly, it looks like a pretty good deal to me. i'm about to put in my credit card information and i'll let you guys know what happens after we got them. let's go, my store is purchased, so i'll let you guys know when my store is finished and we'll take a look at what we got. yes, sir, i just got the notification that my pre-built store is ready to go, so i got my laptop loaded up here and we're gonna go ahead and take a look. also, i gotta say the story came pretty quickly. it took less than 12 hours to get delivered to me, so i'm curious to see what we're gonna get. so, to keep this challenge as authentik as possible, i think it's only right that we try to pick one product from the store and launch it on facebook ads. i mean, after all, this is the exact template and products that generated him over a hundred thousand dollars a month, so it's gotta work a little bit right. all right, the pre-built store is ready to go. i got my email. the store is called shop dash reload. may not entirely sure what that means, but i hope that the story looks good. basically, i just have to go through and create a staff account real quick, so let me set that up. just accepted the invite. i have no idea what to expect. i didn't add any specifications, i'm just getting what he delivered, so i'm excited. let's get a quick drumroll real quick. before we look at this store, let's see what we've got, okay. okay, it's not not that bad. actually it's a general store. we have a couple different categories. we got a bunch of products already uploaded. it's quite random in the sense of how it's laid out. there's no real branding. the categories are very much scattered around, but in terms of a blank template, it's it's not a bad starting point. so, honestly, for 17 bucks it's not half bad, and it has a bunch of products preloaded into there. let's see if there's any apps added for us. so, yeah, we have a few apps ready to go. i mean, hey, if you're just starting out, this is not a bad point. to begin at, my biggest complaint with this store and my biggest fear about making money with it is the fact that it is so broad, it's super general and it's gonna be really hard to get a good conversion rate on a store like this. the only way to really make a lot of money with a general store like this is to have a banger product. to be honest with you, so far none of these products stand out to me, but i'm gonna do a quick scan and try to find at least one product that i think is worth promoting to try to make money with this store. after looking through every product uploaded on this store, i don't really see that much potential with any of them. to be fair, if you bought a store like this, you could just upload your own products and use the design template that they provided. but i think the whole point of selling a pre-built store, especially to a beginner who's never made money with shopify, is that it's all ready to go, ready to run ads and make money with. so, out of all the products, i like the led safety flares the best. i think this product is easy to market. it's already proven to sell online and the product page that they made is not half bad. and to keep the challenge legit, i'm not even going to make a single change to this product page, as much as i want to change the images, add some reviews, get rid of this. i want to test this store 100 as is to see if we can generate some sales with it. to launch this product, i'm going to need a video ad for facebook. i'm going to take some time tonight. i'm going to cook up a fire ad and then tomorrow i'm gonna launch this product live with you. then we're gonna look at the results and see if we made any money with this store. see you tomorrow. i just finished cooking up this video ad and i think it came out pretty decent. now, this only took me about 30 minutes to do. so this is not some steven spielberg level content, but let's take a look at it. so after that, i just show that it's used by law enforcement to add some trust to the product. i show the features and the benefits of this specific version of the product and then i just give a call to action saying: get yours to keep you and your family safe. this exact video layout is the same one that has generated me millions in sales on my e-commerce journey. so if you're looking to advertise a product, this is exactly how i would do it. now i'm gonna take this ad and launch a hundred dollar a day facebook testing campaign and i'll jump back on once that is all set up. [Music]. i just finished launching the ads for this product, so let's take a look. so i just did a simple 100 a day testing campaign. i chose some really broad interest with the big four countries. this is just a good way to gauge if people are somewhat interested in a product and validate its potential. then for the ad, i simply took the video i created, i came up with an attention grabbing copy and then i just threw the link to the store in the ad. so these ads are sitting in review right now across our fingers that it gets approved, and i'll update you once we get some results. poison is the wind that blows from the north and south and east. it's officially been a full day of running ads and i have some results to share. in total, i spent about 92 dollars to make back a whopping amount of zero dollars. unfortunately, we couldn't get any sales with the pre-built store. let's look at this situation and see what went wrong. if we look at the stats of the video and how it's performing, you'll actually see that this thing's kind of busting- busting. i mean, it has a two percent ctr which, on a product test is above average and shows that people are interested in this product. in total, we had 104 people visit the website and only four of those people added to cart. so what this shows me very clearly is this: people want to buy the product, but they're losing trust when they make it to the website. the video ads sold them on the product, but by the time they made it to the website, something fell off and they lost interest, and this was my number one concern in the first place. so i think at this point, just so i don't go broke, i'm gonna go ahead and shut off the ads and, on that note, i think we can call it a wrap on this challenge. to answer the question that we started this video with, i don't really think a pre-built store is worth it. what i recommend is learning the skills to design and make a beautiful website on your own. not only is this going to allow you to create a unique website that nobody else has, but it truly unlocks a door for you to have a career with e-commerce. it's no different than somebody trying to sell you a fitness or diet plan that's going to get you ripped. sure, it might feel like it's helping you a little bit, but the only thing that's really going to get you those results is showing up in the gym and putting

BEFORE you buy a #SHOPIFY store | 4 lessons I learned from buying an ECommerce business

you know, i think that if i would have known everything that was involved with buying a shopify store, i probably would have thought twice like, yeah, i definitely would have thought twice, but i'm here, so let's do this. [Music]. hey guys, this is tanya. thank you so much for tuning in and watching this video. today i'm going to tok about things i wish i would have known before we bought our shopify store. now, if you haven't already watched my last video, where i tok about deciding to buy a store from the shopify exchange, make sure you go ahead and watch that, um, but this time i'm going to say things that i wish i would have bought, and if you're thinking about buying a store, please watch this to the end, because i think this might save people from making a decision that could be costly for them, or it could save them from just like getting into something without completely knowing all the risk. and i'm gonna give a disclaimer: i'm not gonna give you all the risk on this. i'm gonna tell you my personal experience, but my personal experience is valid, it's valuable and hopefully that you'll find it helpful. we should purchase our store in 2019, um, and we got it for a great price, like it, honestly, was a great price. to this day, we are almost at the amount monthly in sales- and i won't say revenue and sales, um- based on what we purchased the company for. so we are bringing in basically monthly what we purchased the company for, which is phenomenal and it feels great. but [Applause], money isn't everything, right, um, and i'd say the first thing was how much time it's going to take. my initial thought process was: okay, the company is already operating. i'm just going to, you know, put my feet in their shoes, do a few things here and there and boom off to the races. we go. no, boo, boo, no, there's a reason. the previous owner was selling the store and it has required work and dedication on our part. um, as a mompreneur who already owned another business, i really have to be mindful about how i split my time. some of the changes that i've had to make is making sure we have a solid operational structure. my goal is to scale the business, so in order to scale it, i want to make sure the operations are in place until we can hire someone to do that. guess who does that? mm-hmm, me, but i'm learning. i'm learning, i'm. it's not all that bad, because i'm intimately learning how our business operates and for me, that makes me more comfortable, because when i hire someone, i still want to know what's going on. but the previous owner- they didn't have certain things in place, such as metrics and data analysis and so forth, and just a basic standard operating procedures manual. so we're creating that, we're bringing in customer service people and dealing with customer service. let me just say that, coming from the service-based space, customer service is completely different now. customer service involves tracking down and finding out what ups is doing, making sure that things are going out in a timely manner, dealing with customer complaints, replacing items and so forth, issuing refunds, which is something i didn't deal with a lot in my service based industry, um, so it's been a learning lesson and then training a customer service person to do that, so i wasn't prepared for how much work it was going to take. we do hold our merchandise on hand and so forth. we don't have it at a fulfillment center yet. so if we were doing drop shipping, maybe it would require less work, but you still got to deal with customers. unless you're completely handing that off and so forth- and i know people who do- we just decided not to do that. we wanted to learn our company. so the first was: you know how much work it would take. the second was: boo, it cost money, it, it cost money. and managing inventory is a completely different beast. i'll say that again, managing inventory is a completely different beast and we've been navigating that and you know, just making sure we have enough inventory to go out. you know what happens if our supplier is out of a certain product that we order from them, and so forth. i've literally been on ebay ordering product guys to make sure that we can send our shipments out in a timely manner because our supplier was out and now going into the chinese new year and we source a lot of our stuff from china. like that was something that i needed to make sure i put on my calendar and i didn't. so that's another thing. it's just like inventory. inventory is a whole other beast when you're coming from the service based industry to the product basement industry and give yourself time and grace to learn that and create structure and learn what you can. we hired a coach to help us with our operations and inventory and so forth, because i realized that that was something that i necessarily. we have an existing business. we didn't grow into this, we bought into this, and so we have clients and so forth, and i don't want them to experience a disruption in their processes. the next thing i've learned: usps is a whole mess. i don't know if this is new, i don't know if this is going up to the election, but usps is a whole i the headaches, the headaches that we deal with with usps, and i think i can just leave it there. if you have a store and you're dealing with usps, please just just let's have a bonding moment in the comments below, because it's low-key, traumatizing y'all. it's: i drop my things off for my customers and they don't make it to my customers, or it takes four weeks to get something there that should have taken three days. and guess who gets to answer to the customers? me and my wonderful customer service representative. it's a lot. and then the fourth thing that i wish i would have known- this is just candy coming straight off the head. um, so this is straight honesty. the fourth thing i wish i would have known is how to properly look at the numbers of a store before you buy them. when i looked at the number to the store, i was like: how many subscribers do they have? how many like? what's the? how much are you bringing in monthly? cool, let's go ahead. it has cash flow. there are a few things that i overlooked: the company's shipping policy. so when i bought the company, they were doing free shipping on a 499 product- 4.99 not 499- so we initially immediately had to change that. going into the company- and people have been really, really understanding of that- it just wasn't sustainable. it was eating into their profit margins. um, the other thing was understanding of average order value. this is a metric that was completely foreign to me when i was in the service base industry, but now it is literally one of the number one things that is guiding my decisions from the store and what we do, and the average order value means what it sounds like. it is the average amount that people are spending per order with your store. when we bought our company, the average order value was 4.99. now that we've been done a few things and i'll actually create a video, let me know if you want to create a video on how we've increased our average order value. but that average order value is now 12 and we're working on increasing that. my goal is to get to 25, and one of the things that's important about average order value is it determines how much you can spend on facebook ads and so forth. now, a great thing about our company is it is the subscription business. so with it being a subscription business, that means that not necessarily just our average order value, our lifetime value matters, because our lifetime value is how long a customer stays around. on average, our customer is remaining with us 11 months, which is almost a year, which is great. so that means that the average order value is 12. then we're making 12 each month for 11 months, which is great. on the marketing, and it just means that we're going to lose money upfront marketing, um, and that costs money. so it means we're going to lose money to initially attract the customer, but we need to make sure that we're doing things to keep the customer happy and to keep them around for the for comin.