 What's going on guys and welcome back to any other video so in this one I want to show you a dropshipping store that recently sold on Flipper.com for $82,500. One of the best things about building a brand and building a dropshipping business that many people actually forget is once you've built up that brand once you've built up a bit of traction and you have a consistent profit coming in each month you have built an asset an asset that is worth money to give you an idea then of what your business may potentially be worth in the future or perhaps you're already running a profitable business and you've been thinking about selling it I'm going to be breaking down everything behind this store so you can see exactly what it takes to sell a business for this sort of money and take home a nice lump of cash that you can then go on to fund other business ventures before we jump into it though I want you to take a quick second to have a think about what you reckon this business was making each year for it to be worth and actually somebody buy and bid on this business for $82,500 jumping on to Flipper.com then just to show you guys a bit of proof so this is the store in question you may recognize this store if you're a follower an avid follower of the channel it's called Miracle Sofa it was sold by public auction and there was indeed only one bid and that bid was for $82,500 let's jump on to the original listing then this was actually the listing I reviewed quite a few months ago now just taking you through their best selling products showing you the store that sort of thing so I'm going to recap it and just show you essentially all of the numbers their best selling products how they're sending those products so you can see exactly what goes into a business that recently sold for over 80 grand so Miracle Sofa is an e-commerce website focused on selling sofa covers to top tier English speaking countries so this will be things like the UK US Canada Australia New Zealand they're kind of like the big five it's been doing it since 2019 so the business is only three years old I say only three years old because that's still a young age for a business and now you might be thinking 80 grand and only six grand profit per month isn't very impressive for a three-year-old business but if you could tell me any job out there that would give you that sort of pay rise in three years then I don't think you'll be able to do that and once you see how much time is involved in running this business as well then you'll soon see that this is a very healthy return on how much time is involved in actually running it and as they say it's actually low maintenance easy to run and brings consistent profits so here's their revenue and profit from the last 12 months we can see it's been kind of on a downward trend ish this is probably because the stores been for sale so they've been perhaps neglecting it a little bit and even so over the course of last 12 months they've been able to turn over 366 thousand US dollars with an annual profit of 70 grand jumping back up then what I want to find and show you now is the operations so this should take two hours per week for the new owner so as you can see only two hours per week 15 minutes per week meeting with the team so you're talking less than three hours a week to run a business which is bringing home 70 grand so not a bad return at all on your time investment what is great to see about this business though is that sales are relatively consistent throughout the year so it's not a pump and dump product it's not a product that spikes massively in popularity for three months of the year and then is unheard of as we can see it's a sort of product that sells consistently throughout the year which is a really good thing because it means you can rely on sales and you can rely on money coming through the door without having to scramble and find other products to kind of dip in and out if you're selling those sorts of things we can see it's still an active business as well so this is still a product what you're about to see what I'm about to show you is still active and working and with January of 2023 a turnover of 22 grand and $5,000 profit and the last month that featured is February because this is when the store was sold of a 12 grand turnover and a two grand profit they jump into their primary expenses then because this reveals how they're making the money and then we'll jump into the description and contextual information so the cost of goods is 14 grand a month that is to fulfill their orders I suspect this will have been recorded during one of their bigger months obviously when they're doing sales of 22 grand and 12 grand their cost of goods isn't going to exceed that advertising of 10 grand so their primary advertising source at the moment is Google ads software so this will be Shopify and apps and things like that probably an accounting software of for a business of this size as well and contractors so that'll be people that's helping them process orders customer service that sort of thing and of course transaction fees so this will be processing fees for Shopify or for Stripe and PayPal if they're using it but we'll see in a second when we take a look at their Shopify store okay so the operations to deliver the product to the customer the operations mainly involve order fulfillment and customer supports this will be emails and it'll be placing orders with suppliers or I imagine they're using a 3PL so I'll just be sending a CSV file with all the customer information and what they've ordered so they can process it that way and like they said here should be no more than 15 minutes a week meeting with the team just to make sure everything is being taken care of like I mentioned order fulfillment is a simple process I'm involved sending the orders to the supplier and then uploading tracking numbers to Shopify this is done on the daily business a daily basis and handled by a part-time worker customer support is email based and handled by a full-time worker these will be VA's typically based in the Philippines or somewhere like that and where the cost of living is a lot lower and as they say in terms of marketing the key things needs to be done on a regular basis and looking over the Google ads and sending out marketing emails to the list takes approximately two hours per week for the new owner so in my opinion 80 grand is a pretty good price for this business because it's a little bit more than one year's profit they have a tried and tested and proven concept they know this is a product that sells and can be sold profitably using Google ads so with the right input with the right skills and you could even bring in an agency when your business is making this sort of money to take over things and if you take away this two hours per week because you're having an agency take care of that then you've pretty much got a fully automated business that's just going to keep bringing in money on a recurring basis for you let's take a look at some of their top channels and so we can see exactly where their customers and traffic are coming from number one is paid search so this will be put in their website sorry this will be put in their website at top of a Google search when a customer is searching for so for protector or something like that they obviously have a pretty big email listening as this is where the second biggest refer is coming from and they also have some direct traffic as well so that'll be somebody going direct via a link we can see their top countries then number one and by quite a distance is the United States followed by Canada Australia New Zealand so on and so forth so there's actually not much presence there in the UK so that could tell you that there's a really good opportunity to be had here and sell a similar product here in the UK jumping on to the Shopify store then so we can see exactly what an 80 grand business a profitable business looks like there's nothing like really kind of out of the ordinary here or anything not to take anything away of course but I was going to say nothing too special they do all of the fundamentals really well and that's all it takes a lot of people when they get started in Shopify and dropship and they try and over complicate things and go with crazy fonts and crazy colors and crazy images and it just doesn't work stick to simple and simple often works best using my handy koala inspector then which is a free Chrome extension every anybody can use by the way it tells us well let's go back to the structure so we can see what their theme is it's a copy of a custom theme Henry's edits not quite sure what that is so it's obviously some sort of custom theme which they've been invested in if going on to products and then best sellers we can go straight to their best-selling product page so I imagine this is probably where they're forwarding the majority of their traffic to and with our products like this actually comes in many different sizes and many different colors you want it to be as straightforward and easy as possible i.e. not confusing for your customer to make a purchase that's another place where I see a lot of people fall down is they'll have all of these different variants and it doesn't like make it crystal clear what the customer is actually buying and if there's any confusion whatsoever the customer is not going to buy so here we can clearly see it's a step-by-step process couldn't be any simpler so you start off by selecting the color they have the actual images as the variants which is a nice touch so let's say I want coffee and the next thing I need to select the size of my sofa and then I can just go ahead and click add to basket it couldn't be any easier than that as we move down there's a few little touches here which are custom which are probably original to these guys like this section here of trust badges this isn't the sort of content that you see on every other dropship in store so it really helps set them apart from any competition and look like the original seller and brander of this product as we move down as well they're kind of featuring these big names to piggyback off the reputation of these guys whether they have been featured in those articles on those brands or on those websites I'm not 100% sure I haven't checked that but that's another common and popular strategy I see a lot of stores using and as we move down we can see a nice image of a lady here a customer service assistant so that could be somebody who does customer service it could be taken from place it but it's a really good way of like humanizing the brand so people feel safe and comfortable shopping with them this gift is a really nice touch as well because it just shows how incredibly easy it is to fit the product they do a really good job of kind of melting away or putting to bed any potential hesitations a customer might have with a product like this so they kind of really nail down how easy it is to install have an installation guide at the top here they have it on the actual product page so when a consumer comes onto the page then they know everything there is to know about this product and therefore again it's just going to put their mind at ease when it comes to making a purchase they also have this again reiterated a customer service assistant I'm going to hazard a guess here and say he's not doing the customer service but you never know at the end of the day free worldwide shipping in 7 to 22 business days that pretty much confirms that they're drop shipping the fact that it's not faster than that so a way that the new owner if you're watching this and potentially if you want to kind of build on top of what you already have here you could look at branding the product if you're going to spend that sort of cash on a business you're obviously looking at this for the long term so by getting your logo printed in the corner of these things again we're really just help kind of differentiate you and own the product so to speak and with that being said then guys I think I've pretty much covered all bases of the store pretty much showing you let's take a look at this YouTube video actually so they have boxes here which are branded with Miracle Sofa and they have a lorry with Miracle Sofa on and they have this big office with Miracle Sofa vans with Miracle Sofa I'm going to hazard a guess I mean I've got stores that make a lot more money than this and I don't have big offices and vans and things transport in my products so I'm gonna hazard a guess that they've it's one of those and what's the word I'm looking for like mock-ups we just upload your logo and then it puts on the side of things for you but let me know what your thoughts are do you think they really have offices of this size and these vehicles delivering them probably not and so with that base of the guys that pretty much wraps up the video hope you found it interesting hope you stuck with me anything I can help you with by the way I have any questions on anything whatsoever just post it down below I read every single one so I will see it and I will get back to you if you want some help getting started and starting your own profitable business make sure you check out my free training I recently updated it and it's absolutely awesome if I may say so it literally covers every single step you need to take to start your very own business to watch that it's a hundred percent free just check out the top link in the video description down below thanks for watching guys I'll see you in the next video on Friday cheers