$0 to $2M eCommerce business in 11 months and how it happened:
Over the past year my business partner has racked up over $2 Million in sales without ever buying a product from China or using a dropshipping company.I've seen a lot of eCommerce threads here where people recommend using Alibaba and Aliexpress.This throws up a few issues not least lead times and tax liabilities.Lead times can be long which can lead to buyers getting impatient and the tax issues over epacket deliveries aren'€™t clear.
these guys are passionate about their products and we were surprised at how many were happy to work with us.If the products sold and were profitable we scaled up if they didn’t we move on to the next product.After a while you have several products that you know will sell and buyers list, it’s then a simple matter of finding similar products and creating regular offers.We find that up to $20 seems to be a no brainer purchase for most people.
The big money comes on the backend with offers to the buyers list.I hope you can see the power of this business model, We don't need to pay for stock, we don'€™t need to deal with shipping, we don’t need a big advertising budget as we get paid before we pay facebook.We call this our "€œStarter Ecommerce Business Model"€ it allows us to get into a niche, test it out and get established.The only downside is that you can sometimes out grow your suppliers.
This isnâ€'t usually an issue as you’ll have a strong cashflow.However, thatâ€'s for another postTHE RESULTSThe results in 11 months: Store 1 earned $1m from 30K sales, Store 2 earned $685K from 16.7K sales Store 3 earned $269K from 7.5K sales (6 months)(shameless plug: If you want to see the proof of income and the process in a bit more depth I wrote an article a month or so ago You can see it at:
http://bit.ly/2ih6okF)I am happy to answer any questions you may have.UPDATEFacebook ad spend was in the region of $400K over the 11 months ..
so over $40K in 11 days from just 2 stores, we have several more.I must also point out the post above is how the eCommerce business started last year, it has scaled considerably to the point where product owners and wholesalers often approach us, it's pretty unrecognisable from the early days, but it hopefully gives you an idea of just what is possible if you put your mind to it.UPDATE IIOne question seems to come up all the time: How do we deal with returns and customer support.Returns are handled by the supplier who sent out the products. Read more
http://bit.ly/2ih2qbJ #ecommercebusiness #ecommerce #marketing