LitWires (5,000+ followers on social media, 600+ orders , 300+ subscribers , 40,000 new users in a rapid & efficient 3 month period with major opportunities for growth.)
Hi there, my name is Liam and I'm the founder of LitWires. It was started in June, 2017 and I'm the original owner.This was my very first business and I have learned so much from it. Everything from finding suppliers to getting customers and recently to automating most of the business has been a fun experience.
LitWires business model is very simple. Customers order and both subscribe to us for great deals on cell phone accessories. Physical inventory is not needed , and start up costs are low because you as a business owner aren’t charged any money until you complete a sale first and than order and ship to customer. This gives the customer flexibility and the business owner simplicity.
The website is currently on Shopify and all the subscriptions are setup.
The business is located in Seattle,Washinton and the financial numbers are also in USD dollars. However, this business can be run from anywhere. Since it is in Shopify, currency changes (ie. to USD etc.) can be done with a click of a button. Since everything is outsourced it can be managed from anywhere as long as you have a laptop and an internet connection.
Now, here is a more detailed breakdown of this sale:
Upon purchase you will be given
• Full lifetime support on website operation • Full support on increasing sales and scaling business • Full list of key successful suppliers • Full list of Advertising & Marketing Partners • 5k+ Social Media IG Accounts • 600+ Customer Email list • 300+ Customers Subscribers list • Valuable Facebook Pixel & Google Analytics Information • Full Domain (www.litwires.com) & Shopify Accounts • Logos & Themes , Apps • Full Data & Analytic Breakdown • Fulfillment Center - Introductions, but operationally everything is already setup • Branding - All pictures and logo (PSD) • Inventory - Product Breakdown (100+ Products) • Much more. Buyer Success & peace of mind is key in our mission
How is your business monetized? eCommerce/Dropship
Please describe your business model in 1 to 5 sentences? This is a drop shipping eCommerce store in the phone case niche.
Are you the original owner of the business? Yes
Which platform does the website use? Shopify
Where is the site hosted and will this need to change after purchase? Shopify. We can just update login and account details in your name.
Why are you selling the business? We are selling this business to fund our new Fin-Tech business.
Can the website’s revenue be accurately tracked back to the website? Yes, revenue can be accurately tracked back to the business.
If necessary, do you have tax returns available to support your revenue claims? No as we did not have to file tax returns for this business (Local provincial laws only ask for tax remittance after 30k in revenue)
What are the main expenses of the business? Shipping fees (we offer free shipping, but you don't have to)+ Shopify Fee + App Fees (Under $90USD) + Product Costs(Varies) + Advertisement(Currently only using Instagram) . Included in P&L Document
Please list all domain names you are including in the sale (Current) https://litwires.com/
Are you including any social media accounts in the sale? No. This will be where major improvements to the site can be made. We created a Facebook account and page that will come with valuable Pixel data to target Facebook ads to new customers.
Are there any email lists included in the sale? Yes. We currently have 300+ subscribers.
What are the primary traffic sources of the site? Social Media (Privately Outsourced Marketing was done for this site). Disclaimer: We can provide a list of social media marketing clients to continue to work with.
Do you use, or have you experimented with, social media marketing? Please refer to above answer for this question.
Have you done any Search Engine Optimization? Low SEO work has been done on products. More descriptions are to be added. Sales have been highly successful without it.
Has the site ever received any search engine penalties (manual or algorithmic)? No, to my knowledge my site has never received any search engine penalties.
Do you use, or have you experimented with direct / display advertising? No we have not. Decides social media.
Have you experimented with any other sales / marketing initiatives? No we have not.
Does the owner need specific skillsets in order to successfully operate the site? No. Shopify is designed for anyone to be able to use with confidence. The ability to use email and a phone are the only other skills needed.
Do you and/or any employees or freelancers provide customer support? Yes.
How is customer support handled and what is the average volume? This is very minimal, maybe 5 to 10 emails per week.
What makes your website better than its competition? Design and functionality of the website far exceeds 90% of competitor’s sites. Also, the pricing is much better than the competitor sites. Average price for phone accessories is $20-25 on other dropshipping sites. Profit margin and sales are set to increase.
Does the business store physical inventory? No
Does the business benefit from volume pricing arrangements with its suppliers? No. But further discounts on pricing can be negotiated on larger orders.
Do you have written agreements in place with your suppliers? No. But I have built a great relationship with them as a business, so their cooperation will be of great benefit.
Explain your payment terms with your supplier(s)? Payment is made on a per order basis. Supplier does not get paid until order is marked as received.
Are you willing to sign a 3-year non-compete contract in the industry that the website operates in? Yes, we are dependent on the sale price of the site.
Will you provide 1-3 months of post-sale support & training? No. We will provide LIFETIME support.
What are the primary growth opportunities for the business going forward? Sales can be greatly increased with minimal effort. We have been very passive with this business once we got it steadily doing sales. An owner willing to chase up leads, call abandoned checkouts, be active within the social media community, incorporate email marketing and create blog content once or twice per month - would drastically improve the revenue of this business in a very short time. Also, despite the Pixel being installed for Facebook Ads we have yet to use and test that data. With over 600+ orders with the pixel, this data will greatly assist the new owner in capturing and converting new leads by targeting a lookalike audience. Are there any geographical limitations to the potential buyer of the business? No, there are no geographic limitations. This business can be run and operated from your lap top or cell phone anywhere in the world (as long as you have an internet connection).
Please provide some basic details about each account selected above
What are the primary growth opportunities for the business going forward? Content Marketing
Content can be very effective here because in social (especially Instagram) people's reaction to anything Phone Accessories education related posts was very positive. People ask questions and are always looking for answers on how to get the most trendy and affordable phone accessories. We've started this already on the blog. Continue this and, most importantly, promote it.
You can use Litwire's social following to find out what to write about, but a good place to start is more guides on different upcoming phone accessories. Don't get overwhelmed by this, there is tons of information online on how to in various ways and this can be easily outsourced to a freelancer to create a blog post for you.
This will complement the product and help to bring in more organic search traffic as well.
First, you should focus on increasing the amount of subscribers. This can be a popup or even options within blog posts you do. Then you can build on the funnel we already have and get those subscribers to convert. As time goes, tweak and see how results go.
This can also be very helpful when there is a new promotion, product, blog post, or anything else you want to promote. It will drive quality traffic from interested people. This would also be very valuable during holidays or any gift giving seasons.
SEO & Backlinks
You can improve this be aggressively seeking bloggers/media outlets to write about Litwires. Be careful, not all bloggers are the same and won't yield the same result. Look at what kind of site traffic they're getting and if they'll be a good fit.
Always pitch the product idea first for media outlets because they won't necessarily want to test the product (at least this has been our experience). Some will need a sample, but be sure it will be worthwhile. You'll get the hang of this after a few collaborations and you can always contact me to see if the collaboration you have in mind is a good idea. I'll let you know my thoughts.
Building backlinks and most importantly building relationships with people that run these blogs is very important because it has been a huge help in the past. Also, we've collaborated again with most bloggers. The second time is much easier if you establish a good relationship the first time.
Note: Always try to get on a blogger's gift guide. This can just mean a small follow up if you collaborated with them before.
Both Facebook and Instagram ads could be very big for Litwires with a fresher approach and perspective from the new buyer. There are two ways we can look at this, ads to cold traffic and to retargeting.
Do some thorough research on different interest topics for our potential customers and use this in the targeting. Another tip would be to survey our existing customers or even our email subs. Then you can use this to drive cold traffic to Litwire's site.
Second way is to retarget those same visitors and also visitors that come to the website from other sources (blogs, social or others). You can pair this up with a small discount or not, I suggest you try them both. Based on my experiences in my other business, this has been the best way to get sales from advertising and I am confident it will work for Litwires too.
Google ads is another form of ads that should be explored. My advice is to try a couple marketing methods in the beginning, but after a while focus on the ones with the best ROI or ROAS in this case.
A push for international customers would expand our reach and generate more revenue. So far, we've had customers from 5 countries in North America and Europe. Everything outside of North America, we've spent $0 to acquire those customers. This could be a big plus in the future.
Are there any geographical limitations to the potential buyer of the business? No, there are no geographic limitations.
There is multiple analytic data for proof of(Send an email to request): -Profit & Loss statement -Facebook Pixel -Google Analytics -Sales Revenue -Expenses Proof
If you have any questions in regards to the sale of this site, please contact us at: firstname.lastname@example.org
Revenue and traffic data is calculated using the data available to Shopify