how to sell your shopify store
Published on: February 2 2023 by pipiads
Table of Contents About how to sell your shopify store
- How To Sell Your Shopify Store | 3 Ways To Sell Your Ecommerce Business
- How To Sell Your Shopify Dropshipping Store (Fast & Easy)
- How To Get Your FIRST Shopify Sale Today (2021 Beginner Tips)
- How To Start A Shopify Store In The UK 2022 | ENTREPRENEUR LIFE
- How To Sell On Shopify In 2022 (For Beginners)
- i sold my shopify store...
How To Sell Your Shopify Store | 3 Ways To Sell Your Ecommerce Business
all right, what's going on, guys? this is Jake, and in this video I'm going to be walking through how you can go ahead and sell your Shopify store. so there's going to be three primary ways that you can use to go ahead and sell your store that we're going to be covering in this video. so the first option is going to be using a broker, so a broker is going to act as a middleman between the buyer and the seller of the partikular e-commerce store. the second option is going to be to sell it privately or through an exchange. so this is where you sell the store privately, either to someone you know within your network or use a website Marketplace to list and sell your site. so with this method, you'll pretty much be doing everything yourself. and the third option we'll be covering in this video is to use a site called open store, and open store allows qualifying Shopify store owners to get a cash offer for their business within one business day. so, with that said, we're gonna go ahead and dive a little bit deeper into each one of these three options. so let's go ahead and get started. so the first one we're going to look at here is using a broker, so a broker is going to be someone that A store owner can use to smooth out the selling process in exchange for a fee that is normally going to be a percentage Commission of the total sale price. so Burgers can help you with specific things such as maximizing the sale price of your business, stopping you from making an emotional decision, helping to ensure that you aren't getting taken advantage of by certain buyers, and also saving you time and efforts, since you're not going to be doing all of the leg work by yourself. so a broker's primary tasks are going to be organizing and presenting of your business. so they're going to help present your business in the best possible way for prospective buyers, to make it look good and look appealing in order to fetch the highest valuation. Brokers are also going to assist in finding buyers as well as creating competition for your business. so Brokers will be able to find multiple buyers and, in essence, create a market for your business. so this adds a little bit of a scarcity element to your business, so other buyers know that they are not the only potential buyer in the mix for your business. brokers are also going to help with valuing your business as well as negotiating the price with potential buyers and, lastly, they're also going to add an extra layer of security because they're going to be vetting potential buyers. so this is going to lower the likelihood that you're going to be getting scammed or deal with any type of fraud or issues like that. so the primary con to using a broker is that a lot of the times, the transaction can take a while because Brokers are going to be working with multiple clients, so you might not always be the highest priority for them, given that you're likely not going to be the only client. so, due to this, it may take a while for the broker to go ahead and find a buyer for your business, so the entire transaction as a whole can take a while to close. and then, of course, the other downside is going to be the commission fee, which is normally going to be at least 10 percent of the total sale. so, in order to go ahead and utilize a broker, you can go ahead and find Brokers by searching phrases such as e-commerce website broker inside of Google and you'll be presented with a lot of different options. so that's pretty much going to be. option one for selling your site is using a broker to come in and assist you. so option two is going to be almost the complete opposite here. so this is going to be selling the site privately or using an exchange. so, alternatively, you can also opt to do all of the legwork yourself, without any broker or any other type of assistance, and sell your store on your own, using an exchange or Marketplace. so this method will require the most upfront effort on your part, because you don't have a middleman in here doing a lot of the extra steps for you. so everything we covered previously, such as value in your business, negotiation, finding and vetting buyers, Etc. will have to be done on your own. so the main advantage of this is that you get the save on some of the broker fees. however, if you sell on a Marketplace, they will likely charge fees as well. however, they're likely not going to be as steep as the broker fees would be. some of the most common marketplaces to sell your Shopify store are Flippa, micro acquire and Empire flippers, and each of these sites will allow you to create a listing for your Shopify business on their site, and then potential buyers that are on the site will be able to reach out to you through their independent marketplaces and make offers to potentially buy your business. you can also list your store on multiple marketplaces to maximize potential eyeballs on your business as well. the primary cons of selling your store through this method are going to be that it takes a lot of extra time and energy that you have to expend because you don't really have anyone else helping you do any of the legwork, so you're going to have to pretty much do everything yourself. so this is definitely going to take a lot more time. and the next con is that not all potential buyers on these marketplaces are going to be high quality, serious buyers. so a lot of the time, a lot of these buyers might just be window shopping. they could just be looking for store or product ideas for themselves, or they could just be really low budget buyers that are only looking for the deal of a lifetime- essentially steals- looking to buy businesses for a price that you'd never be willing to sell for. so you're gonna have to spend a lot of time to personally go through and vet these buyers, to dig through the weeds and get to the Quality buyers. so overall, this is going to be the most time consuming method of selling your store. however, it is also one of the most common ones. so the third method we're going to be looking at in this video for selling your store is using a site called open store. so open store allows qualifying store owners to get an offer for their store within one business day. so with open store, there's going to be no fees and no Brokers or anything like that involved, and openstore allows Merchants to reprice their Shopify business unlimited times for free. so you can go ahead and get a offer for your business, let's say today, and then three months later you can go ahead and get an additional offer to see if the offer price for your business has changed over the last three months. so they actually use an algorithm generated offer that's going to be based off of your store's attributes. so the algorithm looks at metrics from the last 12 months of store activity to generate the cash offer. some of these metrics include sales patterns, margin changes, customer growth and purchasing rate, order value Trends and customer acquisition cost, and every price is then evaluated by expert analysts. initial offers are going to be delivered within one business day and then Merchants can receive cash in as little as two weeks following the offer. with open store, there's also no payout periods or hidden fees. the primary Conde using open store. is that not every store is going to qualify. So, speaking of, let's go ahead and move into the qualifications to sell your store on open store. so the first one is that the e-commerce store needs to be built on Shopify. the next one is that your store needs to have primarily a Us customer base and you need to have a gmv or gross merchandise value of 400 000 plus. you need to have at least six plus months of operating history, so it can't be a brand new store that you just opened up a couple of weeks ago. you have to ensure that your store does not fall on their specific restricted categories, so you're not selling restricted products or anything of the sort, and you have to not be a wholesaler or primarily selling to other businesses, so you have to be selling to a majority consumer audience. so, mor.
How To Sell Your Shopify Dropshipping Store (Fast & Easy)
in this video, I'm going to show you how to sell your Shopify store, no matter how many sales you currently have. I just sold one of my own drop shipping stores that I created at the beginning of this year, and it's never been easier to do. so. remember to leave a like And subscribe for more. my name's Alex. let's jump into the video. okay, so the first option that I had for you guys is actually going away. I notiked this last night when I was planning out everything for this video. but at the top of the exchange Marketplace, this is a platform offered by Shopify. I'm sure many of you have heard of this or actually used it in the past, but the message at the top says: the exchange Marketplace will be decommissioned on November 1st 2022 and will no longer be available for merchants to buy or sell their stores. Merchants with current listings will need to be contacted by email. so this is the Shopify exchange right here. it was one of the major platforms to buy or sell your Shopify store on, and I've actually notiked nothing but problems lately with this website and this platform as a whole. when I was going through the actual process of selling my own business, I dealt with nothing but negatives on this website myself and had a ton of problems pop up as well, so I actually didn't end up selling through this website. I'll go over the one I did sell through in just a moment. but now that this major platform is gone in literally three days, this just leaves a handful of options. yeah, you guys can sell on another similar website just like this- that I'll go over in just a moment. or you guys can actually find a private buyer for your store, whether that's, you know, social media, word of mouth or some sort of networking. but it's definitely easier to just go through and list them on websites like this, whether you're looking to buy a new Shopify store or sell your current Shopify store. so let's go over the next best option right now. all right, so your current best option to buy and sell Shopify stores is now Flippa, that's flippacom. so this is the home page that you'll see when you go on this website. if you guys just scroll down a little bit, you'll see a bunch of listings for sale. we can actually go ahead and look at some e-commerce businesses right here. if you guys click the browse feature at the top, you guys can look at websites, apps, different Investments, domains and different types of collections. we'll go on websites, e-commerce, and then they have specifically Shopify, Drop Shipping, Amazon, FBA, digital products or inventory holding. we'll just go ahead and click on different Shopify stores. let me go back to that. we're going to see all the different available Shopify listings that are for sale on Flippa right now: the different niches, the different prices and everything that's included in each listing. so you guys can see right here: this business is for sale for forty thousand dollars, thirty thousand dollars, three hundred and eighty thousand dollars, sixty thousand one point seven million. so there's gonna be a very big range of prices on this website. but you know each business is unique. you guys can read about each business by clicking on the listing. some of them will be more private because they don't want people just going and copying you know their products or their Niche or stealing their audience or any of that, because I know a lot of drop shippers will actually go on Flippa or the exchange websites to find new products to sell. you guys can actually look at their history of sales and everything as well. so if you guys want to sell your own Shopify store, you'll just go ahead and click sell now at the top right here in the upper right hand corner, and then you just want to go ahead and enter your website to get started. they're going to ask you a few questions about your sales. um, you know how you guys conduct business. if you guys are A Drop Shipping Store or if you hold your own inventory, what kind of assets you want to transfer, you know, is your advertising account included? are your social media accounts included? are you, you know, including any inventory? are you passing over all of your suppliers? what exactly is included in this listing? the more that you guys include with your brand, the higher price that you can actually sell your business for. but just go ahead and explore this website, flip a little bit, go through some of their FAQs. if you guys are unsure, ask me some questions, since I've posted some listings on here myself. but this is definitely a great option to sell your Shopify store when you guys are interested and ready to do so. after watching this video, you now know how to sell your Shopify store, whether it has a thousand or a million dollars in sales. Flippa will help you value your business and get you paid fast if you want to learn how to build and grow a Drop Shipping Store, quickly consider signing up up for my free course below and, if this video helped you out, consider leaving a like, sharing with others and subscribing for more. thank you so much for watching and I'll see you in the next one.
More:SHOPIFY FREE PLUS SHIPPING!
How To Get Your FIRST Shopify Sale Today (2021 Beginner Tips)
If you're brand new to the world of Shopify or you're finding it tough to get your very first sale, you're in for a treat, Because this video is going to help you get your first Shopify sale today. and let me tell you, when it rains, it pours, so let's help you get that very first shopify sell. let's get into it. Hey friends, Andrew here, hope you're all doing well. Before we get into the fresh tips on getting that precious first shopify sale, make sure you've subscribed to this channel so you're recommended more useful tutorials just like this one here. we're all about e-commerce, digital marketing and tik gear here. all right, so i know just how hard your first shopify sale can be. in fact, on average, only two percent of your website visitors will become a paying customer. there's a lot of different tweaking that's required to get your first shopify sale, from your store to your marketing strategy and your product. but once everything's in the right place, it doesn't stop at your first sale. it doesn't stop at your fifth, so it doesn't even stop at your 100th sale. so the point is: don't get disheartened. it took me a whole failed shopify store until i was able to get most things right and then, within the first few weeks of launching that store. i was able to make over ten thousand dollars in a single week. the first tip to get your first shot by sale is to use exit intent pop-ups. you know those very convenient pop-ups that just so happen to come up at the right time every time you have to quit the tab or move on to do something else. well, they actually significantly increase the odds of the customer making a purchase from your site, and if you're not using it correctly, then you should be using it right now. it's actually activated by a trigger point, and this trigger point is usually at the very top of the browser window. so when your mouse scrolls over, boom, the pop-up comes up. you can set one of these bad boys up with a small discount code and personal message and you'll see people use this discount code, go back into their carts and then check out. you might actually be surprised just how many people actually do this. it's a great way to recapture someone's attention and prevent people abandoning their online shopping carts. run a giveaway, giving out something for free. how does that make me money, i hear you ask. well, sometimes you need to spend money to make money and in this partikular case, by running a giveaway, you're promoting your shopify store, product and brand. what i found is, if you run a giveaway, you'll get an influx of people to your shopify store who are too impatient to wait for the giveaway to end and will just go ahead and buy that specific product, especially if it's relatively affordable. best of all, they're now exposed to your store and brand so you can market to them later on, and so giveaways usually cover the cost itself. just make sure, though, that the giveaway is within your budget. use new social media channels. so we all know that facebook and instagram- they're platforms that are getting harder to use organically without spending money on ads, but there are still quite a few- or a number, i should say- that are great social media channels to promote your product for free. for example, snapchat's new public profile lets you literally set up a profile to share content on and gain snapchat subscribers. this means a new source of customers for your ecommerce store. and, of course, speaking of snapchat, don't forget to claim your free ads credit down below to grow your business, and don't forget to use it. tiktok is, of course, another great social media channel with a big organic reach right now, so make sure you're building your brand on these channels as well, and you'll definitely see some more purchases being made through these platforms that are free and organic. experiment with facebook ads. this one is a no-brainer. if you have some cash to invest into your new store and business, spend it on facebook or instagram ads. if you haven't yet tried creating effective facebook ads, then you need to give it a go asap. the ability to put your business and product in front of the right people at the right time at scale is a superpower. even just experimenting with test ads, you often see a purchase come through, but whether or not it's a profitable purchase is a different question. if you're finding it difficult to set up effective facebook ads, i'll leave a link down below to a free facebook ads crash course that i teach right here on youtube for you to check out after this video. use your personal network. have you asked your friends or family to make a purchase from your new store? it might actually be worth sharing your new store on your personal socials and asking your friends and family to share it with others. heck, go ahead and ask them to make a purchase from you. more often than not, your friends are more than happy to support your new business. at least i hope you have decent enough friends who have your back. if not, that's okay. we're here for you on this channel and in the comment section too. the point here is to leverage the resources you have to get your store rolling until you're ready to start selling to new customers and cold traffic. review your sales page. everyone sees the sales product page before they actually commit to purchasing that said product. so you have to sort of make sure it's in tip top shape, because your sales is only as healthy as your sales page. do you have high quality images? that means high resolution, good lighting, no bad edits. it should all look professional. when it comes to those product images, do you have great copy describing your product and is it also entiking? just like no one enjoys reading a fully written book, you're not going to hook your customers in with bad product descriptions. and is the page also visually structured in a way to be appealing? if your product page is all over the shop with different fonts, font sizes, colors, it generally looks like a left over frat party. well, let's be honest, no one's going to buy from that store. product reviews. speaking about the sales page, do you also have product reviews on the sales page, because 81 percent trust the advice of friends and family over businesses. but are we really surprised at that fact? social proof is so important. nowadays, customers are more skeptikal than ever, and rightly so. we want to know the product is something that we really do need and that others have had good experiences with. not just the product itself, but, more importantly, your store and your brand. but what if you haven't even made a sale? how do you get a product review? well, you could import reviews from aliexpress if you're drop shipping, or you could run a giveaway, like i said earlier, and ask for a review in return. heck, you could even give a product to a friend or family member and ask them for a review. regardless of how you get your product review, they're extremely important to achieving more sales, and with more sales that comes in comes more reviews. it's a flywheel effect where the more you achieve, the more you get. check your checkout. have you run a checkout test yourself before even launching your store? you'd honestly be surprised just how many people i've seen say: why am i getting so many add to carts but no sales? so only then realize that customers can't even check out because something's wrong with the checkout process- but this is not going to be you, because you're watching this video. so, with shopify, you can actually place a test order by simulating a transaction. all you need to do is head over to settings, then payments, and then, on third party provider, select bogus gateway and go ahead and place that order where this is bogus. man, i know bogus gateway sounds hilarious to me also. just be sure, though, to swit.
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How To Start A Shopify Store In The UK 2022 | ENTREPRENEUR LIFE
as a small business owner, there is no better feeling than hearing that sound go off as you go about your day because you know someone just landed on your website and bought from you. however, having a great product, a huge following and a pr feature means absolutely nothing if you have a bad website. in this video, i'll be showing you how to avoid missing out on sales by setting up a successful shopify store. if you are new here, my name is shannon and i am the founder of the product business oh so curly, and i share a bunch of business tips on my channel. three years ago, i switched my online store to shopify and i saw a huge difference in my sales, hitting my first five figure month, which is what i want for all of you guys who are watching this video: big energy, big business. so let's just head into my screen so i can show you guys how easy it is to set up your shopify store and get selling today. so first you will want to sign up for a free trial of shopify, which gives you two weeks, so 14 days of time to really just test out the platform. look at the back end and all of that good stuff. i've created a fake brand. it is called body oddie by shan. it was the first thing that came to my head. don't ask why, and what we're going to do is just start up a store from scratch. the first thing you want to do, obviously, is get yourself a name. you're going to have your brand name. you're going to have a logo, hopefully, but if you don't, i am just going to show you quickly how you can do that. so, first of all, you're going to want to come up with a name. so mine was body od by shan, and what it will do is it will show a, it will create a domain name for you, so bodyodybyshanmyshopifycom, which is fine if you are just starting out and you're starting really small and you don't mind just testing out things. but if you do want to invest and make things look a bit more professional, i would recommend going to godaddycom and finding yourself a professional domain. so that just means you're paying per year to have bodyodybyshancom or dot net or dot co dot uk. now you can also use canva for a logo, so i just simply went to canvacom. it is free. i use canva for all of my instagram graphics- pretty much most of the things that i do. my uk curly girl logo is just a template from canva. so i thought, why not go into canva and create a fake logo now? because when we create our store, we're going to want to have a nice logo. this one is just a body, so i thought it would make sense. so i'm just going to say i might do a different font. i shan this is so basic, but you know, obviously, play around with it how you want it to look. yeah, we're just gonna go with that. i don't know, let's just go with that. we now have a logo. now we're gonna. this is the back end of shopify. when you log into shopify on your desktop, this is what you're going to see and typically this is where your analytiks are and this is where your orders are. but because we haven't got anything, it's just pretty much plain for now, and then it's going to give you some tips and tricks on how to get started when you are a business that's been running for a while. it's kind of like an algorithm, so it will let you know how your business is doing. for me, i'll have, like, your store is in the top two percent of shopify stores that started at the same time as you, so it kind of keeps you going and feeling motivated. i really love the, the home page of shopify. next we're going to go into our online store and i'm going to show you how to actually set up your store. so to make this video not too long, i am going to kind of skip certain things here and there, but i'm going to show you the real fundamentals and basics. but if you do want a bit more detail, i do have a full master class on shopify from start to finish. so definitely give that a look and check out in my description box. so here shopify gives you a automatik theme. this theme is called dawn. they have a bunch of free themes and then they have paid themes. i still, to this day, use a free theme. they've just updated their free themes as well, so they have even better quality ones for this one, because we're doing body. i see that this one called sense has, you know, already has that kind of feel to it, so i'm probably just going to go ahead and use that template. but let me just show you guys quickly the theme store, because you can browse through a bunch of paid themes as well. so if you have the budget and you want to pay for a more professional theme, you can use all of these different ones. they're all actually made for mobile as well, so they're going to look good on mobile and on actual desktop, and i'm going to change this to the theme that we looked at called sense, and then you add it to your theme library. so while that's loading, i'm gonna start uploading some products to our website. this is your catalog, this is your backend, this is where you're gonna edit and add in any new products that you have. i'm going to add a, let's just say, mango, wit body butter. and this is when you want to be really careful with what you name your products, because it's going to help when it comes up in google search, because your titles, your descriptions, all of the keywords- they're going to help you to rank higher in your search engine list in preview. so your seo: here you just want to put like a basic description. you don't want to make it basic, you want to make it good. but for the sake of this video, i'm just going to say mango, with all the benefits and the ingredients, so i'd put maybe the ingredients in bold. you can do some bullet points as well: vegan, that's what we're gonna go for today, because we're just keeping it real: basic health and beauty. the vendor is body oddie. this is just the help, because when your business grows- and we want our business to grow- we want to make sure that everything is in line so you don't have to come back and do this at a later date. so i'm going to make a body butter collection also, because further down the line i might introduce body oils or body scrubs. we're gonna call this body butter and i'm gonna put mango. here is where we're gonna add our media. so this is gonna be our images. i've already got some from the internet just to use as examples. so i always recommend using the white background, obviously for your product images, and you may want to add in some kind of lifestyle images as well, but for the sake of this, i'm just going to add these two images, as they look quite good. they look like you know e-commerce ready shopify image resizer, which is super handy and it's a free tool as well. so any images that you have, all you have to do is upload it to this free kind of like tool from shopify and it will make them all the right size for your website. here we have these two here. your pricing: if you ever need help with pricing, definitely check out my video on how to price your products, because you want to include all of your costs and extra. i'm just gonna say this is 20.. 20, i guess more like, let's just say, 12 pounds. if you want to kind of entike people in, you can pretend that it was 15 pound, but now it's 12 pounds, so the compare at price will cross out the 15 pound and then it will show 12 pounds. this helps you. so say it is five pound. it costs you to make the product. it's going to show you: okay, i have a 58 margin and my profit is going to be seven pounds. so that's really handy, your skew. you want to make sure you also do from now. so i would call this mango butter. you can make it anything. it can be numbers, it can be whatever, just makes sense to you. so we're going to track the quantity. this is a physical product. let's just say it's five grams, i don't know, maybe 10.. and then here you want to put in- this is especially if you're going to be shipping overseas- your hs codes. i have a video on, you know, shipping internationally, and it will go into hs codes as well, so we may have different options- large, small. you can add that in here too, and, as you can see, this is what you are going to look like when you come up on the google search term. let's just sa.
How To Sell On Shopify In 2022 (For Beginners)
hey guys, mike with steel, here in today's video we are revealing how to sell on shopify as a complete beginner. this is a full tutorial. this is the only tutorial you'll ever need for that. after the intro: [Music]: hey guys, how's it going? mike fisher, welcome to this video. before we actually gonna remind you that, several spots have opened up for this week's free workshop, where we're going over the fastest and the easiest way to make money online, we have a 62 year old woman who's never actually understood how to use a laptop before go from zero to 160 thousand dollars profit in her first 90 days. check out the first link below. let's tok about shopify- how to sell on it. it's pretty simple. i remember getting started in shopify in around like 2015, i think. our first month we did five thousand dollars in revenue and i want to share with you exactly how i did it. so, as you can see, shopify is pretty awesome because you could literally create a website within like five minutes. okay, just go and start free trial. also. there's also these different prices, right. there's basics, which is 29 a month all the way up to here. you don't really need that, right. you really just need the starter basic package. when i first got started, i really just started with the 29 per month and i also had 14 days to really go in on that. so once you're in, this is exactly what it looks like and it's pretty straightforward: you just add a product, customize the theme, add a domain and then set up payments. now, before we actually go ahead and add the product, we can even go ahead and customize the theme. the beautiful thing about shopify is they have a bunch of free themes. like if i just go and explore free themes, you could go in and within like five seconds you could import any one of these styles of websites into your own and then the product is just easy. right, you want to get the nice feel, the nice touch, the right branding. all of it is pretty much free to really get started. i remember i used supply a lot when i was really selling on it. you could even get a more minimalistik approach. you just click on that, you go ahead and add to a theme library and just like that- i mean you saw me- we were able to go ahead and actually create our own, very own website. now, of course, you would just click on customizing and this part actually, in my opinion, isn't the most important part. i think people hype on too much at this part and they waste all of their time when the most important thing is: how are you going to sales and how are you going to do marketing like in 2015? i barely did any of this stuff. you just need the bare minimum of it. remember, do not spend all of your time with the perfect logo, with the perfect thing. the logo could literally be something as simple as whatever your name of the store is, no one really cares. in the beginning, your goal is trying to find the right product and the right market. that is going to go and buy the product, which leads me to the next step, and that's actually finding the right products. so there's multiple sites that you need: aliexpress, alibaba and amazon. now, the reason why you want to use all three is you want to find out what products are already selling. if you do not have an idea yet, one thing that you could do is just start going through all these things and start thinking: okay, well, which one of these things do i want to get into? do you have an idea? if not, one of the things that you could do is just see. these are the things that are. what you can do is just simply go on amazon and start typing your ideas in, right? so if i just type in grill gloves, one of the things that i would do- especially if i wanted to sell product, whatever idea that you have- type it in on amazon and what you want to do is you want to pull up one of your competitors and look at their ratings, because what will happen when they see the ratings and remember this is on amazon but you're like, oh my god, i want to sell on shopify. this will give you ideas on how to improve the product, guys. so what i would do is actually go to like the lowest or even most recent to see what people are actually saying: not as heat resistant as i expected. so one thing that you could improve is maybe make it more heat resistant, maybe put cotton in the lining. the reason why you would succeed in e-commerce, especially with shopify, is when you are solving a problem that isn't that solvable yet, like, for example, me. like i live here in bali, right, and i'm a us citizen and i make money online. so us taxes is very hard for me to understand, so i was literally scouring the internet to find the best expat tax service to literally help me do my taxes. it was very hard for me to find something that was like: pretty good, right, there wasn't that much competition. if that's a problem for me, i'm willing to pay for a solution for it. and if someone literally said, hey, i could do all this for you, i'd be like: here's my money. that's exactly the same thing with physical products. they're telling you the problems with the products that they're buying, so you could either go ahead and ignore it or you could be like, oh my god, this is a huge opportunity. you could then go to aliexpress or alibaba either, buy a couple to just get started with right. you could start with the drop shipping model and then when you're like, okay, this is a really good thing, i want to go ahead and buy it in bulk. one of the things was gravity phone cases. i remember seeing this back in the day where you would literally put this on the phone case and it would just just get stuck on you know a window or a mirror or whatnot, and they would get any. get it literally for like two dollars, right, and then go case comes in and he's like, oh wow, i want to go sell something like this. and then go case comes in and says, oh, i want to sell it for 16 bucks, just like that. you see them getting it for two dollars, selling it for 16. what they essentially did back in the day is they would start dropshipping a bunch of products, right, they would see what went really well on their store and then they would just start selling it to like a bunch of different instagram influencers at the time. and when one caught up and it did really well, they stopped everything and they just ended up going here and bought the gravity cases in bulk because you could get it down even cheaper, you could get it to a us manufacturer or you could get it to a us warehouse and then just ship it. you cut down the shipping times, your customers a lot more happy. that's how they were literally able to go from nothing to millions of dollars. now jim shark did the exact same thing. um, i'm just really curious how many guys are familiar with gemstar? comment below the thing about gymshark. it is now valued at 1.45 billion dollars. but they essentially started with the same model. they didn't really create the most beautiful stores. they put a bunch of products up on there, seeing what would sell and the moment things were starting selling and they were doing the drop shipping model where they would take the customers money and then they would buy it from another warehouse and then ship it to them with their own money. meaning it's the least, it's like the most zero cost, most least high cost effective way to actually do business. what happened is when things started making sales, that's when they would go in to alibaba and then they would get, like you know, gym fit tees in bulk and then have them custom designed. look at, look at this. all of these look like the things that you would normally get here in gymshark. and this one people don't really know about gymshark is: they started off just selling other people's products. when they would make money from their customer, they would take the money and then get it at a lower cost and then ship it out of them, meaning they never had to buy products in bulk when they first got started and then, once they made castle from that, then they could go and take more risky bets and then start getting, you know, 100 pieces at a time. they would save more money in.
i sold my shopify store...
so today is officially the day that i am selling my shopify store. right in front of me is the final purchase agreement for my shopify store sleep band. i just punched in the final signature. right there it's official. you see, right here we finished signing, the apa is done, the sale is finished and feels good. man, what a journey. it's officially been two years since i started my shopify store sleep van, and today i officially sold it. this was my goal since the beginning: to build, scale and sell a business, and i finally did it. so make sure to drop a like for that, because today is a big day. in this video, i'll be showing you exactly how i did it, not only to show you that it's possible, but to give you a blueprint to follow if you want to do this yourself. if i did it, i know for a fact that you could do it too. there were three stages i went through to get here. stage one was finding the product, getting my first consistent sales. stage two was actually building a brand and scaling this thing to millions in sales. and stage three was selling the business. i'm gonna go over all of these in high detail, but for now let's tok about how i started this business, so the story begins in june of 2020.. i was at one of the lowest points in my entire life. i had racked up thousands of dollars in debt from trying to build my software company, viral vault, and i was living in los angeles in an apartment by myself, spending way too much money on it. eventually, i reached a point where i just couldn't afford to live there anymore. so at the age of 22, i had to go back home and live with my mom. i literally went from a luxurious hollywood apartment to sleeping on my mom's couch and, honestly, it was really hard for me at the time, but it pushed me and gave me what i needed to get to that next level. on my last day in la, i did something that i think truly changed the course of my life forever. i started a new store called nouveau. this store was simple. the whole purpose of it was to test products so i could hopefully find something that could make me some money and get me out of the trenches, and it was a real struggle. i pretty much spent the last dollars i had to try and build this and in the first couple of weeks i saw no success. i tried a couple different products, but i just kept losing money over and over again. nothing was working, and if you've ever started a shopify store, i think you might know what this feels like. and even though i was losing a lot of money, one thing i never lost was hope. i kept going every single day, and eventually it paid off, because i found my first great product, the sleep bam. i had seen a competitor selling this product, but they were doing a terrible job. the advertisement was low quality [Music], the website was not professional or trustworthy, but people in the comments were going crazy for this thing. so for me, i saw this as a golden opportunity, so i threw it on my store, created an ad that i thought was better than the competition, and i launched it, and almost immediately i saw some results. and once i started to get the first sales on this product and seeing how people were responding to it, i knew i had something special here, so i decided to go all in. i immediately went to amazon, ordered one that looked similar to the one i was selling, and made a video ad with my sister, and this is when things truly started to pop off. i had jumped from getting a couple sales a day to selling over a thousand dollars a day of this product consistently, and at that point we were off to the races. now the truth is, when most stores get here, they fall off because they don't know how to scale properly. and i'm toking to you because if you launch your store and you don't do these things, i'm about to tell you it's going to blow up in your face. so let's break down what i did to scale this business to almost 2 million in sales in just 2 years. you know, when most people think about scaling a business, all they're thinking about is making more money. but if you don't focus on the right things, it'll be impossible for you to grow the money side of it. if you could focus on developing the best product, having a team that is there to help you and making sure the customers have a good experience, you'll be all right. it's these things that will allow you to scale your business without it blowing up in your face, and these make your business much more valuable to a potential buyer. so, after i went all in on the product, these are the things i worked on, and the first one i did was actually hiring somebody to help me with fulfilling orders and toking to the customers. now, if you're looking for someone for your business, check out my discord down below. it's totally free and there's thousands of entrepreneurs and people that want to be entrepreneurs inside of there. pretty sure you can find somebody for your job. the link for that is down below. having her on the team allowed me to focus on actually growing the business and not doing a bunch of little stuff each day. then we started working on improving the product quality and the shipping, and to make this easier, i used an agent. agents communicate directly with the manufacturer to get you the best price, find you the highest quality product and help you ship it faster out of china using private shipping lines. making these improvements gave me the confidence to scale further, and we did. we increased the spending of our facebook ads and expanded to other channels such as google ads, email and sms marketing, and in the three months that followed, i sold over 350 000 worth of sleep in. at this point, i had officially felt like i built a real business again. i had climbed out of debt, i was making good money, i moved out of my mom's house to my own apartment in miami, which is actually where i'm still living today and i made it out of the trenches, but now i had a business to run. i kept the momentum going in 2021 by launching a new product, the sleep ban pro, expanding to other marketing channels like youtube ads, influencers and seo. i hired another employee and a marketing agency to help manage the ads. at this stage of the business, i was trying my best to take as much of the profits we were making and just reinvest them back into the brand, continuing to develop the product, continuing to create a ton of content and just trying to have fun with the whole process. and ultimately, in 2021, we sold around 1.3 million dollars of sleep. and this was also the year i started to take my channel seriously, and probably some of you found me around that time. every single friday i posted a new video just about this business. so if you have any unanswered questions, i promise i've probably already answered it and if not, leave it in the comments down below. i read pretty much all of them. posting a new video every week took my youtube channel past 100 000 subscribers and, more importantly, it reignited my passion for creating content. so, going into 2022, i now knew i was ready to sell this business and focus on the thing i love the most. as you can see, building a business like this is challenging and if you've ever tried to do it on your own, you know exactly what i'm toking about. you have to learn how to do all of it, all by yourself and to keep it real with you guys. in the beginning, i wasted months of my time and lost thousands of dollars because of it, but i know for a fact, if i had access to the team and systems that i do now, i would have been able to see results so much faster. and just to prove my point, i actually had my team go ahead and start a new store with our system and they were able to get that store to 1 000 a day on the first day. and you know, my team and i built this store not necessarily to make money, but to prove a point. the point is you don't have to waste thousands of dollars and months of your time to figure this game out. you just need the right systems in place and look. if you're worried that you're not doing things the right way, don't stress about it, because my team is here to help for free if you click the link at: