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How To Start Your Own $150k / Mo Personalization Store - Shopify Print On Demand 2019

Published on: December 8 2022 by Chris Conrady

How To Start Your Own $150k / Mo Personalization Store - Shopify Print On Demand 2019

How To Start Your Own $150k / Mo Personalization Store - Shopify Print On Demand 2019

a couple of weeks ago I made a video
case study analyzing two multi-million
dollar print and demand stores utilizing
personalization after I made that video
I got some dm's and questions pertaining
to the how alright so that's kind of the
chase how exactly do you build a Shopify
store selling personalized products one
that can potentially do a hundred and
fifty thousand dollars per month on new
autopilot
I want to mainly tok about the research
and planning aspect that goes into this
I myself do have a print demand at
Shopify store employing personalization
by the end of this year we'll probably
do close to ten million dollars in
lifetime revenue if not past that I can
honestly say though that I never really
found it true success with e-commerce
until he found a personalization I also
have a friend and he started getting
into personalized products selling these
first posters anyways the business did
tens of thousands and out of dollars in
revenue pretty quickly
in fact he recently sold the business to
apply a lot of his the insights that he
learned from that to a new business
since its trading debut one year ago
stitch fix users have grown 25% to 2.7
million we're in the business of
personalization we do one-to-one
human-to-human personalization scale
ibly people love themselves it's true
people love getting their name called or
being bragged about to somebody this
human feeling can be applied to
e-commerce in just the same way with the
right product and a right niche great
demographic we can build trust and
loyalty with a customer quicker than
ever and it's great for impulse
purchases and customers are more willing
to tok about you on social media in
2014 when coca-cola was looking to make
a comeback and really just get ahead in
the races they created the share a coke
campaign and they printed individual
names on each bottle and can the success
they seen from this was the largest in
over 10 years new labels are coming off
the printers and going on to millions of
bottles of 20 ounce coca-cola as part of
a new marketing campaign each label one
of about 250 different names to help you
make a more personal connection with
your beverage if you are dying for a
competitive edge that will set you apart
be profitable and
allowing you to not compete with Amazon
well the model we'll be using for this
is print-on-demand I recommend working
with printful Guin or printe Phi for
sourcing of products if we dissect the
night sky none of this is a guessing
game
they caught the trend very early okay
okay now we're going to tok about the
night sky this is what the sky looks
like the day that your child was born
one of my favorite product research
websites is at sea primarily because
they specialize in personalization and a
simple search for star map yields dozens
of high rated sellers selling this this
tells us there's a market for it if I
were researching potentially selling
this let's say for the first time ever
upon seeing invalidated on Etsy and look
for e-commerce stores also selling it to
editor lists with the night sky we have
estrela's and my sky moment
ding-ding-ding I'd be off to the races
with this another similar site is
personalization mall I'd recommend also
checking that out check out their
homepage if you have a niche in mind
what I'll do right here in NC is a
keyword surf so for example baby poster
and I'll see what's best selling and
then once I find a few interesting
products by selling products on that
first page I'll use the NC algorithm on
product pages to find other similar
items while I'm doing this I'll have a
Google Doc open the entire time
recording everything taking screenshots
writing links down everything in
anything is basically a research
brainstorming sheet that you will use
alongside alongside you when you were
building your store after narrowing in
and finding something that might be
interesting to sell maybe an aunt C or a
Facebook ad try to find some ecommerce
brands or other e-commerce brands
selling that same thing if they've taken
the plunge and look successful it's a
very good sign and when I say successful
I basically mean looking at their stats
on similar web looking at how many
Instagram and Facebook followers they
have reviews on their website anything
that indicates they're making some money
sometimes what I'll do is make an order
on the website if they're using Shopify
95 percent of the time you can rely on
the order number to tell you how many
orders they receive
so let's say I'm porter number 4300 then
I'd estimate they've done 3,300 orders
and if you want to go even deeper you
can take 3,300 and times that by an
average a o V of say $60.00 and that's a
hundred ninety-eight thousand dollars so
roughly a hundred ninety-eight K in
lifetime revenue the initial store that
you go out there and build is basically
an MVP so minimum viable products or
score basically it's essentially a very
low-quality version of what your store
will become what you see in the future
and it just has the essential components
to start driving traffic and making
sales it's not really the amount of
products that you have that matters it's
more so the quality the quality is based
on the research that you put in and that
research the result of that research is
the products that you have in your store
the ones that you deemed to have a high
chance of becoming a winner with
advertising
I'd recommend having one in three
products ready for ads that you are
confident in being a winner that you are
confident in being able to build a
sustainable business around when it
comes to the customization aspect it's
actually relatively simple so let's say
that you're selling art something that a
designer has to do a great place to
start is Fiverr when trying to find
designers go ahead make some test orders
with various sellers and then analyze
unless the results you're getting
depending on your product you might also
need some ready to go templates maybe
instead of canva personalization is a
manual process so if you get 300 orders
in a day generally 100% of the time
actually all 300 orders will have to be
customized by you or somebody on your
design team now we actually did this all
ourselves my business partner and I our
first four months in business until
hiring our first VA to take over and
that one team member soon leg to five
more you ideally want to get your
customers orders personalized and
shipped in a matter of days depending on
what you sell it might be in your best
interest to have the customer approve
the design or art before shipment if you
look at the night sky there's really no
need for that because they built a
custom map builder the customer can see
everything that they are entering all
the details they're entering live in
front of their face now
with Piper Lu there's really no need to
approve the design the customization
aspect because it's super super simple I
don't have to guess what it will look
like upon ordering when it comes to
pricing your products margin is most
important you don't want to go out there
and sell something rock-bottom and have
a five dollar profit margin because it's
just gonna be so hard to build a
sustainable business on the front end
what worked years ago just doesn't work
the same nowadays so so when pricing
products
let's havin to sell this poster right
here and I go to print phone and it's 15
dollars what I would do is go and sell
it for $35 having a $20 plus margin on
your front end is your best bet it's
gonna really help you out with
advertising your initial selling point
is not firm though it should it's really
just a placeholder analyze your ant data
what you are receiving a customer data
everything and based on that you can
raise or lower your prices finding your
sweet spot with your pricing is
absolutely key because you are able to
maximize your results that way your
results with everything and elevate your
profitability and reach more people with
Facebook advertising everything and
anything to give an example with us with
one of our products we raised the price
point by five dollars and we thought you
know this is crazy we're probably gonna
see a decrease in conversion rate we
actually see no change in our conversion
rate this was a major win for us if we
sell for example and say a thousand
units of that product every single month
that's an extra five thousand dollars in
profit that we would not have had
otherwise if we would not have employed
that test you don't want to really just
guess in a price and just keep it there
if it doesn't work then the product is
dead everything and anything is based
upon data again the price is a
placeholder your goal should be to
constantly learn so that you can earn in
the beginning of the video I told you
about somebody that created a store
selling birth posters if it's a niche he
was very knowledgeable about in fact he
actually just had a kid at the time he
also knew a competitor doing what he
envisioned and upon checking Etsy dozens
of results let's break apart the birth
poster besides their large following and
social proof litter
throughout the internet they're selling
these 20 by 27-inch posters for roughly
$65 if I go to print full I found a
similar size 24 by 36 inches for $18.00
and in shipping cost when you factor
that in I'd say we're looking at a total
cost of good goods out the door for
about 21 bucks
next the design in my favorite part if
we go over to Fiverr
I couldn't really find anybody doing
this per se however in that kind of
situation I would start DMing these
similar sellers right here and get their
feedback let's say that we eventually
closed a deal and the rough art cost is
$5 per design that takes our total cost
of goods to $26 if we sell it $65 our
profit margin would be $39 that's pretty
darn good
excellent margin so we can pay in that
scenario up to 39 dollars to acquire a
customer one thing I also want to
mention it looks like they've invested
in a custom preview generator similar to
the night sky and they've apparently had
this since 2015
after looking on the wayback machine I
think that if you do a model like this
or anything
moderately similar you can get away with
not doing previews in the beginning and
then once you establish that success you
get those orders rolling in you can
begin to innovate very beginning stages
once you have selected your niche and
you're able to see what is trending in
that niche and and what exactly is
working when it comes to personalization
you put the other your research you put
together a store and then after that
it's really about innovation you begin
getting customer feedback and learning
how you can switch things up switch your
product up add more similar products to
your store let's look at a business not
actually using a preview generator this
right here is is my face Sox all the
information input is right here on the
product page no preview needed whatever
image I upload right here by the way a
few apps that you can do this our
uploader II or upload kit whatever image
I upload will appear in the back end for
the Shopify seller to see and that will
be loaded up into Photoshop the
necessary edits and cuts around the
image will be made put on the
the sock template submitted to the
fulfillment center they're working with
and that's it it's clear that they offer
a wide array of products they're
actually running ads right now and you
can see right here how simple they are
and really how simple you can make them
if you're just launching a store I'd
actually recommend though using some UGC
so some customer photos or influencer
photos just me a little bit nicer I
think it's more powerful and authentik
but I'm going to really imagine the
effectiveness of these ads and all the
products that they have in their store
around the holiday time more and more
every year consumers are looking for
ways to personalize their gifts overall
guys that all I have for you if you make
one big switch one big change in 2019
make it to jump on the personalization
train we're coming into q4 as I'm
recording this very shortly here the
biggest end of the year especially with
these kinds of products I think thriving
with e-commerce today really comes down
to continuing to improve your customer
experience and the perception that
people have of you this method right
here offers that longtime loyalty that
longtime longevity and Happiness the
customers and really just provides that
feeling of receiving an Amazon package
in the mail that that rush of dopamine
that you get when you see that Amazon
package right in front of your door if
you haven't joined my Facebook group yet
I'd highly recommend doing so the link
is in the description if you got value
out of this video all I ask is that you
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tap that tap that like button and with
that I will see you guys in next week's
video