[Music]
I want to try to buy a failed million
dooll business and then see if by
implementing some new strategies we can
maybe revive it to its former glory now
although this is pretty risky buying any
seven figure business isn't going to be
cheap and I could end up losing all of
my money the price points for these
aren't as crazy and Out Of Reach as you
may think so I really want to try this
out to see if it could be a shortcut to
making a set of money or if you'd be
better off just starting from scratch
there's this really neat Marketplace
called Shopify exchange where people can
sell e-commerce businesses and because
this Marketplace is owned by Shopify the
listings on here are actually connected
to the stores so the sellers can't fake
their numbers or provide some phony
screenshots and even just scrolling
through here can be really interesting
even motivating you can see a bunch of
these stores that have Revenue numbers
in the eight figures down to stores that
have zero revenue and somehow even
negative sales maybe from returns or
chargebacks or something I don't know
and as far as pricing goes same thing
anywhere from 50 bucks to the millions
depending on what you want to get okay
so my search criteria is going to be one
I want to try to find a business that's
done over a million dollar in sales two
I'm hoping they're fairly recent sales I
don't want to buy something super
outdated and three bring water and Good
Vibes that's pretty much it let's hop on
the
[Music]
comp okay I look through like every
listing on this Marketplace a lot of
them were just completely unreasonable
asking hundreds of thousands of dollars
for drop shipping stores from like 2017
just a whole lot of Facebook Marketplace
hey buddy I know what I got here type
Vibes but I narrowed it down to two
really good options
[Applause]
may I may I present you the first option
a company called Lenny lemons that's
gotone over $8 million worth of sales in
the last few years 8 million it's a
company in the baby Niche they want 20
grand for it and it looks like they even
have some inventory that'll come with a
sale which 20 grand for a business
that's cleared over $8 million in sales
I feel like that's not bad although a
lot of the sales are from a while ago
may I present to you the second option
don't buy it I'm out it's a business in
the beauty Niche that's done about 3
and2 million now I really like this one
because the sales were as recent as of
this year so I feel like we could pretty
quickly get that up and running and
they're also asking 20 bans so I don't
know exactly how this process works but
I'll message both of them and get back
to you actually never mind you guys know
me sneaky fella pumped faked you a
little bit who I hit up a few other
listings as backup and off rib we've
just uncovered I don't know if I want to
call it a scam but definitely racket of
Swords so this one seller got back to me
and basically said hey sorry already
sold the store but there's this
marketing agency I credit all of my
store success to let me know if you want
to get in contact with them which is
just it's got to be the craziest client
acquisition strategy I've seen from a
marketing agency in a long time so this
is kind of getting my guard up in terms
of scams and kind of letting my hopes
down if this is the first response we
got this thisis thing was kind of too
good to be true so I'll just check back
in when those other two
[Music]
reply eight ball Lenny ended up just
never getting back to me he probably
smell the incoming lowball offer through
my email ahead of time no hard feelings
now as far as the $3 million Beauty
conglomerate the store owner Stephanie
hit me back very quickly which gave me
the option to place an offer so I shot
for the stars and said 40% off I could
do 12 Grand she said nah I'm going to
need 16 I said let me think about it I
mean I spent 16 at the mall on a random
Tuesday not a big deal obviously but
while I was thinking about it we had an
unforeseen circumstance it just so
happens that right when I sit down to
make this video Shopify announces that
they're going to be taking down this
Marketplace entirely in like 2 weeks I
kid you not this Banner just pops up out
of nowhere I mean last resort there's
also another website called Flippa we
could use where you could buy the same
kind of thing but but I think I'm just
going to try to sneak in here last
second and swoop up this beauty
conglomerate before The Exchange closes
down that way we won't have to leave
Shopify and can process this transaction
safely and they don't work it was
already too late so if we wanted this
deal we had to make it happen outside of
this safe trusted mediary but on the pl
side me being hesitant made sanely drop
her price to 14,000 from the original 20
and so at this price I was ready to go
through with it the seller set up a deal
through escort.com which I've never
personally used before but apparently
it's going to act as a middle party for
us so I don't know I'm really about to
go transfer
$14,000 to a stranger I met on the
internet and have never even spoken to
and the thing with wire transfers
there's no going back once you initiate
it there's no way to get a refund woo so
we'll see what happens
[Music]
you know what if I get scammed it'll be
good for the plot character
development after initiating the
transfer all I could really do was sit
back and anxiously wait the esro service
said they received my payment but they
took forever processing it they
requested a weitten an agreement and
were just suspiciously gatekeeping this
transaction I just woke up to this email
saying that my payment for the escrow
has finally been secure so I guess now
the ball is officially in the seller
scor will they send me this store I
don't know man at this point it's been
like a week since I've sent that payment
so I've had the time to come to peace
and accept the very real possibility
that I might have just got rinsed but
we'll see now after getting up that
morning running a few marathons reading
three books establishing four new uncles
and having breakfast an hour later I got
an email my eyes couldn't believe things
are different now it's not be treesy no
more talk to me nice it's Mr B has now
owner of multi-million doll online
Beauty conglomerate Avenue this is an
email from Shopify inviting me to become
the new store owner of this business so
I think we might be in or this is a
virus malware fishing link and I'm about
to have all my accounts squeeze dry and
rinsed what's up gentlemen well I'm
pleased to announce that it was option
one we finally did it I was now the
owner of this once thriving e-commerce
business I checked the sales on the
store and sure enough everything was as
advertised except as the new owner I now
had a new
[Music]
problem okay so I just realized that
this store has
$157,000 worth of sales that were made
this year meaning tax has not yet been
paid for the sales so if I as the new
owner and as the person who updated the
information inside of the store now
receive a $199 tax document saying that
this is my income I very well could have
just spent $14,000 to buy myself an
$80,000 tax bill I I no no no no real
char I can't I don't know if it's true
or not I'm about to make some phone
calls to figure this out this was and
honestly still kind of is quite the
scare for me but I emailed the owner
talked to shop support and we were
eventually able to update the new
ownership in the system and then by also
creating a new payment processing
account we did resolve this
issue okay so everything with this sale
has now been settled let me show you
what we got this is where the Journey
Begins being able to look through
everything in the store was really cool
I found they had a couple half a million
dollar months we could see their top
selling products which were magnetic
eyelashes followed by this mask they
recently sold some of this lip gloss
that makes your lips bigger uh fishing
hook but the product pages on here were
actually fire let's set a goal right now
to get the store back up to $1,000 per
day in Revenue but if we don't hit that
goal within 2 weeks of today you already
know the drill I'm shaving my head bald
again and you know what let's up the
stakes I'll also shave my eyebrows M
actually after going through the website
ended up hopping on a call with the
previous owner to get some more
info hello I got to hear Stephanie's
story of getting into Drop Shipping
after being dissatisfied with her job so
I decided to go on YouTube and learn
some courses my boyfriend at the time
had and then also what I could do to
revive it I think that one thing we
could have done better uh was H talk and
making sure that we got made more
content which she basically said should
be through better Tik Tok ads thank you
have a good one bye as well bye-bye with
this we were off I hopped on the comp
and got to work day one hour zero I
think I want to try to revive this
product right here this lip gloss that
makes your lips bigger Stephanie sent
over a bunch of content she paid for of
people using this product so I think I
can make some pretty steezy ads with it
and this product is also on Zen drop
which is a software and supplier that
you can connect right to your shop fight
store and they'll process all of your
orders and ship them out automatically
really quickly and for super cheap I
would borderline plug them for free
because it's just a great service
especially if you're just getting into
Drop Shipping I know the order
fulfillment and the shipping times are
people's biggest concerns so I'd
probably use them either way but Zen
drop did throw me a bone to help cover
rent after this recent business
acquisition so here I am disclosing that
they did bless me with a couple dollars
but they're honestly great you connect
them to your store and they'll process
ship out and fulfill all of your orders
for you you can choose from products
they already have on their website or
they can even get any product from
AliExpress and start processing and
shipping it for you this instant lip
plumper is going to cost me about $2 and
then like another four for shipping and
then we're going to turn around and sell
it for $ 20 $30 on our website so when
people buy from our website Zen drop
will automatically fulfill those orders
and send this product to our customers
and we keep the $ 20 $30 difference as
profit I spoke to Jared the founder of
Zen drop and he said that their average
current delivery time is about 11 days
which is great for Drop Shipping they
even have some product research tools on
here so you can find your next winning
product through this platform within a
few clicks you can even have all of your
packages come in with a custom card with
your branding on it all through the same
platform you no longer have to deal with
AliExpress and struggle with language
barriers and try to develop your own
systems with suppliers from China this
does all that for you so feel free to
check them out using the link in my
description again this is something that
I would recommend even outside of this
brand new so now that we have the back
end of our business figured out which
took a few clicks and like 5 minutes
thanks to Zen drop I'm going to try to
work on this product page a little bit
just tweak a few things and then edit
some
[Music]
advertisement this was my final product
page basically just switched the wording
and some images here and there minor
stuff click this button it leads you to
check out here's a few clips of the new
advertisements I remixed really going
for that Tik Tok organic non overly
edited Vibe okay I think this looks good
I believe it could pop off but now is
the real test it's all of this could
fall apart if we find out the store is
banned from Tik Tok ads if they don't
like our product some of our wordings
off they don't like our images there
could be days of just back and forth
let's hope things go smooth and we can
get these ads approved and running on
Tik Tok right away but it's often times
not that
[Music]
simple okay so I set everything up here
all of our ads are now getting reviewed
so I'll see you guys in the morning with
hopefully some good news about some
approved ads
good news and bad news here so good news
I woke up today God is the
greatest this weather Tic Tac approved
all of our ads no problem things went
exceptionally smooth so that was a huge
relief the ads started running and as
you can see here we even got 173 store
visitors up to this point which when I
saw that this morning threw me off 173
sessions and zero sales it doesn't
really make sense for this funnel they
were good ads and this is a great
landing page it should at least have a
two % conversion rate so we at least
should have gotten like three four sales
so then I looked closer at the
conversion rate and we had 14 people add
this to their cart and 10 reached the
checkout but zero actually converted it
just really doesn't add up so I went on
the store and try to check out as a
customer I went through the whole sales
page and once I got to the shipping
portion of the checkout process I was
met with this message saying I can't
have the product delivered to my address
which is when I realized I didn't look
over the shipping settings for this
store so I went back in figured all that
out and now we are good to go and people
can actually purchase from our store but
overall things are looking good I'll
check back in once we hopefully get some
sales soon as I put down the camera look
at this we already got our first sale so
the shipping was definitely the issue
things are looking promising but it
wasn't all sunshine and rainbows from
here in fact I ended up losing money on
ads that first day however I did get a
little data from that so I spent a lot
of time using it to create better ads
since I could kind of see what was
working in practice I also experimented
with targeting different interests and
then played around with a website to try
and increase the conversion rate come on
on purchase purchase purchase come on
let's go can we get another one out
check out check out check out now I was
fighting for these sales I spent hours
optimizing every aspect of this
funnel okay I'm going to preface this by
saying maybe don't go buy a $14,000
business if you're just getting into
this all we really got was a website and
some content we could use for ads which
we could have easily built the website
for free using Shopify you can get a
free trial using the link in my
description and also have my paid course
link down there which explains how to
set everything up pay some people to
make a few videos using your product
connect your website to zendrop to have
the back end sorted and boom for under
1,000 you basically have the same exact
thing you could probably even do it for
under like 500 so I just want to put
that out there because this $14,000
shortcut is currently working although
it may not be the best way to achieve
these results day one we got $149 worth
of sales but compared to the amount of
sessions we had this wasn't a good
number so I really shortened down our
landing page to be less worthy and more
to the point which did wonders for the
conversion rate I also started
increasing the budget on the ads that
got us the initial sales and almost a
little anti-climatic here but even
though Ecom and Drop Shipping has been
dead for years now we did finish off day
two with over ,000 in sales now please
stand for the court of profit I was
pretty aggressive with the ads are out
of the gate so it's not huge but for day
two we're talking about $400 in ad spend
and 257 in product cost leaving us with
about $300 profit for the day but that
profit margin is likely to grow as the
ads get more optimized as I use some of
that data to create better
advertisements and the page gets more
social proof that's pretty good I might
actually just change the domain of the
store and scale it up for a follow-up
video but I hope you enjoyed this one
and have an amazing rest of your day
peace