I am selling my shopify e-commerce store. It is my first venture which I launched in February this year. Since then I have started other projects which are drawing my interest away from this business. The main reason for selling is that I could use the money to scale up my other ventures.
Nordic Rays is a store that is all about sustainable fashion accessories rooted in Scandinavian style, focusing primarily on bamboo sunglasses.
Beyond the standard P&L statement, don’t bother asking a bunch of financials. Consider it a startup. I have invested a few thousand for development, several hundred in the marketing trial-and-error phase and other various costs for freelance work on the store.
It has now reached a point where I spend a minimal amount of my time running the store (2-3 hours a week), and it runs itself more or less. Using Instagram marketing only, we are achieving on average $1500-2000 monthly profits. The store is only 7 months old and I believe this number can drastically improve with further development in terms of social media, upscaling advertisement as well as utilizing other modes of marketing such as Facebook and Google ads.
Why have sales & traffic slowed down to a halt?
In July we started focusing on a new project in a different niche and stopped actively paying IG influencers for promotional work for the store. As a result the driven traffic normally generated by referrals from these pages have naturally declined along with the associated sales. However, the established network of working influencers (popular IG pages ranging in followers from 200k - 1.6m) are still available to pick up the slack and start referring new traffic to the site.
Additionally, there is the untapped potential of retargeting and email marketing for the current customer base of over 1700 customers.
Our products are dropshipped from various suppliers, so there is no need to hold inventory or warehouse management.
Price is open for negotiation as I'm looking for a quick sell.
Financials and traffic
Revenue includes sales until the end of last month and is calculated from Exchange’s eligible payment providers. Total traffic comes from all data available to Shopify.