Novelty Wallets & Purses
I decided to start the business in order to gain additional income. I had been hearing about drop shipping for about a year & decided to pursue it. I researched my niche & product type for about three weeks & decided to go with novelty wallets & purses. I felt I could create value where there wasn't any offered. My creation of value focused on products tailored for millennials & curated by millennials. My products were featured in places millennials frequently visited: social media pages. The ultimate goal was to provide options to corporate brands. I ran the business for a short while: 48 days. I created the store and sourced my products from Aliexpress & Oberlo. There are 3 social media accounts connected to my store - Facebook, Twitter, & Instagram. I could try to transfer ownership of the pages, but it would be easier to shut my pages down and create your own as they are connected to my personal social media accounts. The business model I used for my store was the dropshipping model. I carried no inventory. Instead, I transferred customer orders automatically to my supplier through Oberlo who fulfilled the orders. There is also one domain that will be included in the sale: [REDACTED] I've put quite a bit of work into the store. The setup of the store is completely done. I set up a few payment options as well as multiple apps to optimize the business. I also designed the layout of the store as well as curated awesome products using Oberlo & Aliexpress (I also used [REDACTED] to determine if products were good enough to sell). On the backend, I've created Pages on my site telling my story. I also created social media pages to spread the word about my store. To attract customers, I took a class about dropshipping on Udemy in order to learn how to set up my store. By doing so, I also learned about Facebook marketing & email marketing. I set up Facebook advertising as well as setting up email marketing with the Klaviyo app. The cost of customer acquisition is as follows:
Cost of product + Product Shipping + Taxes + Discounts (15%) + Marketing (7%) = Total Product Cost. After doing research, I decided to include to markups to help cover the future costs of my discounts and my marketing. I went with 15% and 7%, respectively. I have no recurring customers at this time.
CEO of Novelty Wallets & Purses
What’s included in the sale
+ 9 more...