 Hey, what's going on guys? Welcome back to another video. So today we're gonna be taking a look at MiracleSofa.com and they're currently for sale on Flipper.com for $100,000 US dollars. So in this video, we're gonna be jumping inside the computer doing a full breakdown of this business. We're gonna be taking a look at their Shopify store. We'll be taking a look at the analytics, their best selling products, absolutely everything and then making our own minds up of whether we think this business is worth the money that they're asking. I'd love to get your opinion too. I'd love to know what you think. So once you've watched the video and you've seen all of the information, then make sure you leave a comment down below. Let me know what you think. Do you think this business that you're about to see is worth $100,000 US dollars? So let's jump straight into it's MiracleSofa.com. It's an e-commerce website focused on selling sofa covers to top tier English speaking countries since 2019. It's low maintenance, it's easy to run and in their own words, it's consistently profitable. Let's take a quick look at the images that come with this list and we can see their homepage here. However, we will be taking a proper detailed look at their Shopify store in a second and they also post this image from the last 90 days showing that they did 60,000 US dollars. What is interesting here and a number to keep in the back of your mind once we take a look at the best selling product is their average order value. We can see it's over $100. Some more background information about these guys then before we take a look at their Shopify store. We've covered the top bit, the business is fully automated requiring less than two hours per week of work from the founders and has a very high customer satisfaction rate reaching 100% during some weeks. So that tells us a couple of things. Number one is they're selling a quality product that people are happy with and number two is not a bad return on your investment. If you are running a business which only takes two hours per week and according to them is returning on average six and a half thousand US dollars every single month, if you ask me that's a pretty decent return on your money. As for the operations of the business I won't bore you with the entire list in but a couple of important things to point out. Things that are relevant to us as drop shipping business owners. This is indeed a drop shipping business. So the new owner should not be spending more than 15 minutes a week meeting with the team to make sure everything is in order. That's probably why they only need to put two hours a week in. They have people doing order fulfillment, customer service, that sort of thing. Order fulfillment is a simple process that involves sending the orders to their supplier and then uploading tracking numbers to Shopify. This is done on a daily basis and handled by a part-time worker. Customer support is an email base and handled by a full-time worker. So I've already guessed it. The standard operating procedures are very clear and require little to no involvement on part of the owner. This is one of the big things and one of the things that I got sorted out as soon as possible. Once you establish a new business and you're doing upwards of it depends how many hours of course you have to put in but once I hit that kind of 20K per month mark at that point I'll then look to outsource customer service and that sort of thing because as a business owner you want to make sure that you're focusing your time which is the most valuable on the things that are gonna bring you money and dealing with those daily customer service queries that you can get somebody else to deal with is not an efficient way in my opinion. As for their financials then Miracle Sofa has been profitable every single month which is super rare to see in the drop shipping space. We've experienced decline since we started the business because we stopped running Facebook ads which is interesting at some point and focused only on Google ads. A popular question I get asked is should I run Facebook ads? Should I run Google ads? Should I run Instagram? Should I run TikTok? Should I run Snapchat? So on and so forth. And ultimately it boils down to the type of product and audience that you're going after. To use Facebook and Google as a comparison then the type of person and the point in which you make contact with that person is going to be completely different. So for example, when your ad hits somebody on Facebook they are not in a buying mood. They do not have their debit card or credit card in hand and they are not currently look to purchase something. They're there to spy on their friends, to stalk somebody, to watch funny cat videos, to post pictures of their breakfast, whatever it may be. But ultimately they're not looking to spend any money. So to be successful on Facebook you have to take that into account. You have to be selling a product that is so well matched to its audience and advertise it in such an eye grabbing and exciting way. Then unless you are able to control that attention and get that attention onto your product then you're going to fail. Whereas on Google that's where buyers do go. That's where people will go to search for the things that they want to buy. So they might actively already be looking for your product. So where you may have been going wrong is if you're selling quite a boring generic product and it's hard to kind of muster up excitement about it then you're probably going to really struggle on social media platforms. So you may be better off going across to say Google ads and being able to actually target those people who are actively looking for your product. And this is probably the case with these sofa covers. It's probably going to be quite difficult to advertise and sell sofa covers in such an exciting way that somebody would choose your ad about sofa cover to watch over an ad of a funny dog doing something silly. Quick breakdown of the expenses then. So cost of goods 15 a month, advertising 10 a month. So 25 grand a month, 30 grand a month going out the door which would mean they'll have to turn over quite a bit of money to see it make a profit. As for the last 12 months, we can see it's been pretty consistent. It's dipped up and down obviously a little bit. It's come down ultimately since February last year. This is probably due to the facts like they mentioned they've stopped running Facebook ads but even so that averaging probably 30, 40 grand a year. And if we take a look at January a couple of months ago they still turning over 20K per month. Let's take a look at their Shopify store then. So on the homepage, I'm not going to spend too much time here to be honest because I was about to say it's irrelevant your homepage. It's not irrelevant but it's not that important. You should be driving your customers to your product page to the products that you're advertising. And if you check Google Analytics or have some form of app so you can kind of keep an eye on what people are doing on your website, what you'll soon learn is not that many people will go to your homepage. Nevermind scroll down and look through all the different information and sections that you have. Is important though is the best selling product. So to find this, I'm going to open up my Koala Inspector. I'm going to go to products best sellers and straight to the original Miracle Sofa TM single color universal sofa and cushion cover. Bit of a mouthful but nonetheless a successful product. So it's a sofa cover that comes in many different colors as we can see. So lots of different choice for their customers. Also comes in lots of different sizes as well. So no matter who you are or what kind of sofa you've got, there's gonna be an option here for you. Moving down, scrolling down through their product description. It looks a bit messy to be honest. It's a bit mismatch like there's different fonts, different colors, the use of emojis in some places, use of bold letters in others. They've got caps or locks. They've got underlined words in bold. They've got different images. Again, another color font there and another color font there. It looks a bit messy to be honest but just goes to show who am I to judge when it comes to product descriptions. The most important thing is whether they convert or not. It doesn't matter how they look. You judge a product page on whether it actually converts or not. What they do a really nice job of is this section here. I really like this. I'm gonna look to implement something like this into my own stores by featuring a real person, a member of the customer service team. It really kind of humanizes the brand and gives off that level of trust. So protection from pets. That's obviously gonna be a biggie. So many households out there have pets. So that's probably a benefit that's gonna apply to the majority of the people that come to this store. Fits every type of sofa, which is an important factor. And again, they've got another section as well featuring another member of the customer service team. We offer free worldwide delivery and the typical delivery time frame is between seven and 22 business days. So that just confirms it, 100% drop shipping store. And it also confirms that customers do not mind waiting that long if they know that they're going to be waiting that long. That is a massive misconception in the drop shipping space. Let's jump on to AliExpress and see if we can find something similar. So simple search for couch cover, sofa cover, that sort of thing. And I was able to find these guys. So probably not the supplier of my choice. However, they were kind of middle of the road and they sell a sofa cover to the exact dimensions that these guys are selling it for. So if we go for their smallest size of 90 to 140 centimeters, their small is 90 to 140 centimeters. We can get it delivered to our customer for 10 pounds, which is, let's just go $14. And these guys are selling it for $45. So there's a pretty healthy profit margin in there of 30 plus dollars. But if you remember earlier in the video, we saw their average order value was over $100. If we just check out the different sizes, there isn't actually one for $100. So it's probably a case in which most people have two two-seaters. And therefore they're gonna be buying two of these things. So the average order value was $115, which is approximately two times two units of this 140 to 180. And if we head back over to our suppliers, we can get a 145 for 185. So a similar sized product for $15, let's say that's still free delivery. So if you buy two of these things, your cost is going to be $30. And these guys are selling it for 110. So give or take, there's a good $70 of room in there, which you can then afford to use to acquire your customers for. As things go on Facebook with the types of products I sell, I'm looking anywhere kind of in and around the 15 to 20 pound mark. So I have no doubt that these guys are able to acquire customers for double that and still make a profit. One final note then to finish the video off is I wanna point out the extra information they have on their website. I review a lot of Shopify stores, people I work with, people who send me their stores. And one thing that's common that they're missing is the information behind the products that they're selling. If you're selling a product which is size specific or dog breeds specific or feature specific, you have to make sure all of your customers' questions are fully answered so that they feel 100% comfortable placing that purchase with you. People do not spend money unless they know exactly what they're getting and they know that it's gonna be fit for purpose. So they have a specific page at the top here with a size guide. They have a specific page at the top here with an installation guide. Also have all of the other kind of information that people will be wondering about or wanting answers to. With an FAQ, they have a track your order page and they have a contact us page as well. And with that being said guys, that is it for this video. Hope you have enjoyed it. I hope you learned something new. I hope I've inspired and excited you about your own businesses. Do not delay starting your business. The best time to start one was yesterday and the second best time is today. If there's anything I can do to help you get started, just leave a comment down below and I will get back to you. And make sure you let me know your opinion. Would you pay if you had the money, $100,000 for this business? Thanks for watching and I'll see you in the next one.