Woodshop watches was created to sell the best wooden watches we could find. We identified a niche market for naturally awesome watches that are not your typical watches. With nearly 20 products, we believed that we serve a well assorted collection of these naturally awesome watches.
Woodshop Watches launch just before December 2017 and has received incredible traffic in the past 2 months. Adwords has been a large contributor to the success of our marketing efforts and an enlarged instagram following keeps our products in front of many current, past, and potential customers.
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Financials and traffic
We applied a 250% margin on the COGS but made minor adjustments on watches with high profit margins to create a compelling cost for the consumers.
Average overall profit margin
Average number of sales/month
Total revenue for last 4 months
Total traffic for last 4 months
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.
The advertising cost could have been higher and we anticipated using between 10-20% of the profit margins to be absorbed back into market expenses. The domain costs have been paid for the year already.
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Q & A
Why should someone buy this store?
We aggressively built a social media following of actual accounts with an interest in wooden projects. In addition, we prove a price point that conveys the quality of our watches but affordable against our competitors.
How can the future owner improve the business?
The largest place the future owner can improve is on the marketing budget. Having a small marketing budget, we were unable to reach our target audience effectively. Although our SEO campaigns had over 260,000 impressions, a larger budget would enable more conversions
What work have you put into the store?
Building a strong instagram following and creating compelling adwords for SEOs. In addition, we sourced and priced the products at a reasonable price.
About the seller
Created this store 4 months ago
Taking what I learned in my business courses at school, I was able to launch an e-commerce website that created actual conversions.