 Hey, what's going on guys and welcome back to another video. So I'm back with another Shopify store review from Flipper.com. Today we are looking at Lux Strap. It's currently for sale for 60,000 US dollars. And in the grand scheme of things, it's quite a modest Shopify dropship in store. When I say modest, I mean they're not making millions of dollars. They're not even making hundreds of thousands of dollars. They are making on average about 24 grand profit per year. I wanted to show this store on my channel because not many people talk about businesses of this size because they're not really, really exciting. However, from the majority of people I actually talk about when we're striking up conversations and just getting to know why people want to start dropshipping in the first place. It's not because they want to become millionaires in the next six months. If that is you, then this probably isn't the video for you. However, if you're looking at getting started in dropshipping because you want to make a few hundred extra dollars each month or even an extra couple of grand each month, like these guys have, then this is exactly what a business of that size looks for. And I'm very confident in saying that everybody watching this video is capable of achieving and replicating a similar level of success to these guys because in the bare bones of it, this is a very basic business. Now, that's not me taking shots of this business far from it. The majority of people who try dropshipping, the harsh reality is most people don't make a single penny of this. So for these guys to make a consistent, the profitable business over the course of the last two years is by no means an easy thing to do. So for some more information, then it's called Luckstrap. We'll be taking a look at their Shopify store. We'll be taking a look at their best selling products. I'll show you where you can sell those products from as well. And I'll also show you how they are advertising those products, too. So if this is a niche that particularly captures your attention, you want to create something similar, I'm going to give you all of the components to do so. So Luckstrap, I've already mentioned about half a dozen different times now. This is a verified listing. So the numbers are taken direct from the source of supply. They are not editable. Everything you're going to see in this video is legit. So the size age is two years. The monthly profit here is 1400 US dollars. However, this is actually off. I will show you the numbers in a second from the last 12 months. This is still an active business. These guys are still actively making over two grand a month in profit every single month. So this is actually low. So the asking price for this business is $67,000. I think that's a bit high, to be honest. And when you value in a store or if you've got a relatively successful store and you're looking for an exit strategy and you want to sell your store, you're looking at about 12 months to 18 months worth of profit. So if we apply that to this business, then you're probably looking at about closer to 40 or 50 grand. So the key highlights of this business, I won't bore you for too long for this information. However, I believe it's important, especially if you are a beginner looking to get into dropshipping, you should find it interesting or you should at least want to know what goes into running a profitable online business. So a profitable online business in a rapidly growing niche, specializing in premium, Apple and Samsung watch bands, cases and accessories. Primary revenue comes from sales of watch bands, cases and accessories, which I've already stated. I'll show in a second how it's primarily just watch bands. The business requires an estimated time commitment of 10 to 15 hours per week to manage inquiries, order processing, inventory management and marketing efforts. So whilst, say 25 grand a year is not a lot of money for some people, when you actually pro-router that into the time invested into the business, it's a pretty decent return on your investment. Most people, I would say, as long as you haven't got a large family can probably find 10 to 15 hours per week to build a business of this size on the side. So if I just show you the primary expenses, the breakdown on the monthly basis just to illustrate how the numbers are off, however, what numbers aren't off are these here down below, which we'll take a look at in a second because these are pulled directly from Shopify. So shipping 1600 a month, that seems like a lot of money to me. This to me is coming across as a business who has a really solid product and customer base. However, they seem to be spending a lot of money on the things that they're doing. So maybe instead of trying to focus on increasing their revenues, maybe decreasing their costs could be a great way of increasing the profitability of this business. So marketing about five grand a month cost of goods sold 1500. So how they're spending the same on goods as they are on shipping. I'm not quite sure unless that's an import mistake. Platform for fees 336 discounts 600 SEO 1400. I'm not quite sure how they're spending $1,400 on SEO each month and whether they're seeing a return from that or not. It'd be interesting actually to have a bit more information on that. Okay. So they're revenue and profit them from the last 12 months. So of April last month, I record this in May. So it's still current still an active business. They're still actively running ads, which I'll show you in a second. They turned over $13,000 and made just over $2,000 in profit. I'm not quite sure how their revenue is so high with their profit being so low. But again, without that information, I wouldn't be able to tell you why the key takeaways from this is we can see that it is a product that has potential and it is a product which they've consistently been able to turn over and make a decent amount of profit each month given the time and effort they're putting into it. So I've seen the numbers then. Let's jump on to their Shopify store and take a look at exactly what their store looks like. So look strap. As you can see, they're going for a more kind of expensive look and feel with the kind of calligraphy type style fonts, which simply says their names. So a nice touch of big background. This looks like the old school Brooklyn theme. I'm just going to check out what theme it actually is. Some sort of custom theme starts with thunder, upgrade your wrist, different collections. So as you can see, there's a heavy, heavy push here on the watches and not so much on phone cases or any other type of accessory. But all in all, like a pretty default template style store, I don't think they've done too much work to this theme other than actually import and upload their products. What is slightly conflicting for me is they go for that kind of luxury branded type message that they're putting across. But if we actually have a look at their products, they're $30. That's not a luxury product in my opinion. So there's a bit of kind of cross, crossed paths or a cross message being put across there. And I think some kind of like the brand could become more uniform and in tune with the type of products they're selling, then maybe they'd be able to make it that bit more profitable and bit more of a success. So we've seen the numbers. We've seen what their Shopify store looks like. Let's take a look at what their best selling products are. So unfortunately, they are hiding their best selling products. However, what we can do is we can jump on to the Facebook ads library and we can see exactly what products they're advertising. And what we can see is they've launched two different products in May of 2023. We have this scrunchie style Apple Watch Band. I don't know why I forgot what that was called. Obviously aimed more towards a female market, I would guess. But nonetheless, kind of like quite a unique product. They have it in lots of different colors and patterns and styles and this looks like a dynamic ad to me, which basically means Facebook will show that to some people, will show that one, will show that one, will show that one to some people, see which one gets the best results and then just continue showing the better performing one. The other style that advertising is a more male targeted product, in my opinion, so we can see the details of this one. And again, they have lots of different variations of this particular product with the leather strap heading the ad. Let's jump on to the product page then and take a look at what their product page setup is for this particular product. As we can see, like the logo is displayed a bit differently with an outline to make it a bit bigger and bolder. It is indeed the same website. It's got the same URL, but it kind of looks different to me. Again, it's a cheap product. It's $25. It's definitely not a luxury product and they're even offering people to break that down further and pay for it for as little as $10 per week. Something else they're doing, which is becoming more increasingly popular with a lot of successful Shopify stores, is this bullet point feature section, I guess, or bullet point benefits. I'm going to call it. Something I've started doing for some of my products as well. And something more increasingly important is making it as quick and easy as possible for a consumer to make a purchase to give them all of the information without them having to go hunting for it. And this is where these bullet points really do come into play because when that product page loads, if they have all of the information there and then with a big A to C button, that's going to convert more than having some of this information at the very bottom of the product page where they may have to go looking or searching for or even go on to a different page. So by having all this sort of thing at the top here, it does a really good job of really summarizing the product. Given the consumer, all of the information they need to make a trustworthy purchase. Something I also recommend all Shopify stores to have is this delivery estimate. Again, think about it. When was the last time you bought anything without knowing when it's going to arrive? So if you're hiding your shipping times, then you are doing something wrong, you are misleading your customers, you must put what your delivery times are on your product page in my opinion. And what's actually really interesting about this product page is if we scroll down, reiterating those same bullet point points, they've got the recommended, they've got a bit of like a section about the product at the end. And then they actually show a completely different product. And then they actually have kind of like two product pages on one, which is very strange to see. It's something I've never seen before in a Shopify store, but it's obviously working for these guys. So who am I to criticize? Maybe that's something that you would split test and change in and out week and week just to see how it affects your conversion rate. So I think in the grand scheme of things, it's probably got a validated idea here that works. I think it just needs a bit of optimization, let's say to really kind of hone in the best strategy, best product page, best ads and best source of traffic to really bump up those profit margins. The next product page is for the lever product. So again, it's not a premium or expensive product at 30 pounds, especially if it is legitimate leather. The product page by no surprise carries on that same strategy and theme. They have the buttons for the different variants, rather than drop downs, which is super important in my opinion. They have the same delivery estimate, some trust badges, different tabs, that sort of thing, a size chart. So the consumer knows exactly what size they need. And again, with the strange product layout, with the different products below and an actual completely separate different product page, it's very strange to me, however, that I'm sure they have their logic and their own reasoning for doing this. So we've seen the level of success in terms of the numbers and the contextual information, we've seen what their best selling products are and what their ads are. Just to kind of point out these are just very generic single image ads, very easy to replicate if you did want to go ahead and sell the same products. I'm sure these will just be images taken from the supplier. We've seen exactly what the product pages look like. Next, I'm going to show you where to source these products so we can get a feel for the types of profit margins these guys are having. So $25 for this particular product. I mean, if you're going to Aliexpress and search scrunchy Apple Watch Band, as we can see, there's endless suppliers selling endless different color schemes and variants for this particular product. But what is fairly consistent is the price. So they're all under two pounds. That does include free shipping in some cases. So here's one particular supplier found so free shipping 15 day delivery on time guarantee for 40 pence. And as you can see, lots of different color variations to give your consumer that option. I even found a like for like. In fact, I think that's the actual image they're using for that ad. I'm pretty confident that it is. So that is one pound 66 plus one pound 59 delivery. What's that about less than four pounds delivery? So definitely 20 quid or 20 pounds worth of room in there. So we're able to set aside enough room in the retail price versus what their cost of goods are to dedicate towards their marketing. As for the leather strap. So if we go back and just refresh our memory, so 31 pounds is a slightly different one. I'm not going to bore you with showing all the different variations and suppliers for this particular product. Here's kind of like a universal supplier that I found that sells all types of different sizes. But if I'm not mistaken, if we compare the images, then it's the same type of lever with the same type of design. So for all intensive purposes, an identical product. So for this, you can source it for three pounds just under with a 15 day delivery on time guarantee. They're selling it for over 30 pounds. So again, a nice cheap product with a decent profit margin, which leaves a bit of room in there for scaling as well. And so with that being said then guys, that is the full breakdown of looks strap com. Like I said in the beginning, a modest Shopify store, but they clearly found an idea that works here and whatever they're doing is working for them. I think it just needs a bit more care and attention or time invested into the business to test things, to split test things, do a B test in to really kind of focus on those most profitable traffic sources, those better maybe optimized product page layouts to really help increase and bump up the profit of this store. But hopefully if you're still stuck with me, you found it useful. There's some things I hope you can take away from this video, which will help you build your business and be able to replicate a business similar of this size and go on to exceed this. Thanks for watching guys. Any comments, questions, video suggestions, anything at all. Post them down below. I want to try and help people out as much as possible. So make sure you span the comments section. I read every single one. So we'll get back to you. Thanks again. I'll see you in the next video on Wednesday. Cheers guys.