 What's going on, guys? Welcome to another video. So in this one, I want to take a look at one of my favorite Shopify stores, Ridge Wallet. The reason why I want to do a video on these guys and talk you through and show you their website and their products and the analytics behind them, we'll take a look at what sort of numbers they're producing is because in my opinion, everybody who wants to get into dropshipping, this is what you should be striving for. This is what you should be ultimately working towards. Because of the nature of dropshipping and it's such an easy business to get started with, like if you know what you're doing within the space of a couple of days and less than 50 pounds spent, you can have for all given purposes what looks like a legitimate business online. However, because it is so cheap and so quick to get started in, too many people get started without a long-term game plan. They just want to try and get some money in through the door as quickly as possible and they don't really care what happens in six months or 12 months. Or for instance, these guys have been in the business since 2013. Now, these guys have progressed. To be honest, I don't know how Ridge Wallet started out. I don't know whether they started as a dropshipping business, but you can source pretty much or at least a very similar product from Alibaba. So if we have a look at their top four products, if you don't know what Ridge Wallet is actually, let's take a look at one of their products. So this is actually the wallet that I have myself because I've been following them for a while. They kept hitting me on Instagram. And to be honest, I very, very rarely carry cash nowadays. I usually have kind of like six or seven cards. So I thought, what the hell, this looks pretty cool, try it out. And when it came, it's such a nice high quality and luxurious product. And it gave me the idea. I thought I'd do a YouTube video on this because everybody, even though these guys are turning over crazy numbers, 20 million plus a year, this is something that everybody can learn from. So yeah, basically what the product is, it's a metal wallet without the kind of traditional open clothes. You have a strap or a money clip on the back. And then inside there's like a mechanism which allows your cards to kind of come in and outwards. It's basically kind of like a modern day world take on what the wallet is. If we head over to Alibaba, we can find like without being disrespectful to Ridge wallet, you can find a product that does pretty much the same thing for like three or $4. So for example, here we have a carbon fiber effect. It says real carbon fiber, but it's probably not. But for all intensive purposes, if you're spending sort of three or $4 per unit, including shipping costs, you can probably get this to your doorstep for less than $10 a piece. However, as we can clearly see, these guys are selling it for about $140, $150 once you've done the conversion, but they're able to charge this premium price because of the branding and because of how much of the market share they have for this product. If we have a look at some numbers then, we can see, so this is ridge.com. This is the American site, the American version. Similar web averages or gives their annual revenue at $15 to $25 million. I think it's a bit more than that and I'm gonna show you why. If we go down though and take a look at their average monthly visits, it's $1.6 million. If we have a look at the .co.uk version and again, we'll go down to the total visits. You're looking at about $300,000 to $500,000. If we take an average, I've kind of like the last three months. So give or take then, these guys are doing about $2 million views a month. So if we go one, two, three, four, five, six, $200,000 need one more. If we go for a conversion rate of, let's go for 2% because it's quite an expensive product, 0.02, so that gives us 40,000 orders a month. The, I paid 120 quid for my wallet, which I think is the same price as all the others. So if we times that by 120, that gives us 4.8 million in turnover per month. And then of course, if we times that by 12, it gives us 57 million. So I reckon I'm there in the ballpark range. I mean, you could give or take 10 or 20 million. I definitely wouldn't be surprised if they were turning over 30, if not closer to 40 million every single year. The next thing I wanted to show you was how are they making those numbers then? Because they are obviously a massive company now. So they probably get a ton of organic traffic, but in the beginning, they must have been running ads. So let's take a look at the ads that they're running right now. So we have this ad here, which is a very nice image. It's not a copy and paste from AliExpress, which I see a lot of people do. They are obviously a big time company, but to create something like this would actually be relatively simple to do using tools like Canva. Let's take a look at this video ad creative. As you can see, an unboxing of the product, UGC type content with some nice special effects. Now, obviously these guys are very established. So the budget they have is massive. It's gonna be bigger than me or you have, but we can still take away the fundamentals and the actual premise of what they're doing here and implement it into your own business, no matter what level you're at. They have the product in hand. It wouldn't surprise me if they filmed this on an iPhone and with some basic kind of video editing skills, they've got some custom original content that really demonstrates in its full glory really how nice the product is. We also have this ad creative here, which has kind of like an amusing opening to it. You won't be able to hear it, but it's basically somebody just talking about the pain points of old wallets and then the new day, which is the new wallet. So it's highlighting the problem and then offering the solution. And then it just goes through the same kind of clips which we saw in that previous video of the fact that you can get an air tag that will fit to it and you'll be able to find it, et cetera. Just to go through the product page then because this is such a nice and slick and professional Shopify store. Everything you can see on here is pretty easy to replicate. There's some apps here or perhaps they've used custom coding because they've got the budget to do so, but everybody watching this video could definitely replicate a product page similar to this. Scrolling down, they've got you may also like. They've got this nice kind of like animation effects of the cards coming out of the wallet with different information about the product. Everything is just super clean and super sleek and in keeping with the brand. That's how they're able to charge so much for the product is because of the actual branding of it. My favorite feature of this website though is this section here. So they would have hired a very experienced coder to create something like this. And then what you can do is you can actually drag this along. So you can say, I have eight cards in my wallet. This is what your wallet probably looks like now and this is what it will look like with the Ridge wallet. So a really nice touch to really kind of illustrate how professional this brand is. So to wrap the video up then and why have I just spent the last 10 minutes or so showing you this company and what can we learn from them and what should we be doing in our own dropshipping businesses? So the message I want you to take from this video is think further ahead. Try not to be so much in a rush that you wanna get your business up and running in the next two weeks and capitalize on a product as much as possible. Instead, perhaps take two months, maybe even three months or however time it takes you but just build something that is different to everything else. Because the truth and the harsh reality is probably 90 plus percent, probably 99% of all Shopify stores or all people who get into dropshipping don't make a single penny and that's because they do it the same as everybody else. So if you do what everybody else is doing then you're gonna fail as well. So spend that extra time, spend that extra budget creating a website as cool and professional and custom as this one. Invest in your product, find somebody who will be able to put the logo and brand the product to make it unique and specific to your brands and nobody else can copy it. Invest in custom packaging as well because unboxing the product is part of the experience. If you think of when you buy an Apple iPhone or MacBook or iMac, the packaging it comes in is so expensive feeling, it all adds and kind of builds towards that kind of feeling of being a luxurious brand. If you try and do things too quickly and try and make 100,000 pounds in your first year, you're probably gonna end up skipping corners, putting money in the wrong places and falling flat on your face. Whereas if you said, I'm gonna try and make 10 orders in my first year because I'm gonna spend so much time on the development of the brand. Then because your expectations aren't ridiculously unrealistic, you're gonna keep working on that business for a lot longer and that's ultimately gonna lead you to better chances of being success in the long run. Whereas if you try and make 100,000 in your first year and you're not on track after the second month, you're probably gonna give up. Whereas if you say to yourself, actually I'm gonna do 1,000 pounds in my first year. It gives you plenty of time, you won't feel rushed, you won't skip corners and you can build something proper. And you never know if you do it right from the beginning, you too may end up with a business like Ridge Wallet. One final note then before I head off is I'm not saying that you have to develop a product and spend thousands and thousands of pounds before you start selling but you can start drop shipping a product and then do things really slowly and reinvest every single penny you make reinvest into improving the products and separating the products from the competition because these guys are so well established now that nobody could copy them without spending a ton of money and they've been able to do that because they've reinvested into the business, into the manufacturer of the product, having their logo inscribed with it, custom packaging for somebody to replicate this business now would have to risk spending hundreds of thousands of pounds not knowing if it's going to work. So you can build it up step by step, you can start drop shipping in the traditional sense but then the second you've established that the product works and you're making money from it instead of just trying to milk it for as long as possible until it dies keep reinvesting into the development of that product and then development of your brand. And so with that being said, thanks for watching guys. I hope you've enjoyed the video and I'll see you in the next one.