Since coming off to college ive had a tough time running my current business, time is extremely limited and my motivation had just declined due to lack of performance of the business. I stopped doing any sort of marketing because I just havent had the time to ship orders that come in. Im still running the business, just shipping out orders that come in without really putting any time into marketing. I realized that its not capable of generating the amount of revenue im looking for.
So I started looking for ways to generate passive income with a business that doesnt have much upkeep or work outside of a computer. Dropshipping was the obvious answer to my search for a business. But I didnt want to go through the hassle of starting a company from scratch and having to build a customer base in such competitive markets. I wanted to do something I had a lot of passion for, and ive always wanted to get into the automotive industry, but the competition for dropshipping in the automotive market it just too cutthroat for a start-up company. So I searched businesses for sale and came across a OEM BMW Parts dropshipping business for sale.
This is exactly what I was looking for. The business has been running for over 3 years and had done $220k+ in revenue in the past 3 years with a customer base of over 1700+ customers. The owner had started another business about a year ago and just didnt have time anymore to put into the company which caused a decline in sales and revenue. The business did over $100k in sales the first year and $80k+ in the second year but the third year dropped down to around $35k due to his new business getting in the way. I saw this as an opportunity to revive the business and bring it back to where it had used to be.
So I went ahead and negotiated with the Owner, ended up getting for half his asking price. We went ahead and got everything transferred over into my hands; I set up accounts with the suppliers and took over all operations as of today.
Were still in the transitional period finalizing all of it and im still getting a hang of all the operations, but in the next week or so I should be underway with marketing and advertising and promoting the business.
Goals & Plans
Im not going to list out all my statistical goals and all that but we are hoping to spark the business back up to where it used to be. I believe I can easily get my ROI within the first year and keep the business growing from there.
As for the website, www.AutobahnBWMParts.com, we are planning on cleaning up the search features and functionality of the site to increase our conversion rate. Any comments/ideas for the site are appreciated!
All of our suppliers supply parts for most german car brands (audi, mercedes, porsche, vw) so once we get things rolling and picking back up we are thinking about opening another drop shipping site, Autobahn Porsche for example and grow, and if that goes well, potentially open it up to all german car brands.
With my other business I never put my marketing campaign into full swing; so with this company I plan to implement and stick to a consistent marketing plan to bring the business back.
Cars always have problems and constantly need new parts, so I want to implement a customer rewards system or something of the sort to generate loyal return customers.
These are just a few of the big picture generalized things I am planning on doing, but I would love to hear any thoughts or ideas that any of yall have!
Thanks for reading
So I started looking for ways to generate passive income with a business that doesnt have much upkeep or work outside of a computer. Dropshipping was the obvious answer to my search for a business. But I didnt want to go through the hassle of starting a company from scratch and having to build a customer base in such competitive markets. I wanted to do something I had a lot of passion for, and ive always wanted to get into the automotive industry, but the competition for dropshipping in the automotive market it just too cutthroat for a start-up company. So I searched businesses for sale and came across a OEM BMW Parts dropshipping business for sale.
This is exactly what I was looking for. The business has been running for over 3 years and had done $220k+ in revenue in the past 3 years with a customer base of over 1700+ customers. The owner had started another business about a year ago and just didnt have time anymore to put into the company which caused a decline in sales and revenue. The business did over $100k in sales the first year and $80k+ in the second year but the third year dropped down to around $35k due to his new business getting in the way. I saw this as an opportunity to revive the business and bring it back to where it had used to be.
So I went ahead and negotiated with the Owner, ended up getting for half his asking price. We went ahead and got everything transferred over into my hands; I set up accounts with the suppliers and took over all operations as of today.
Were still in the transitional period finalizing all of it and im still getting a hang of all the operations, but in the next week or so I should be underway with marketing and advertising and promoting the business.
Goals & Plans
Im not going to list out all my statistical goals and all that but we are hoping to spark the business back up to where it used to be. I believe I can easily get my ROI within the first year and keep the business growing from there.
As for the website, www.AutobahnBWMParts.com, we are planning on cleaning up the search features and functionality of the site to increase our conversion rate. Any comments/ideas for the site are appreciated!
All of our suppliers supply parts for most german car brands (audi, mercedes, porsche, vw) so once we get things rolling and picking back up we are thinking about opening another drop shipping site, Autobahn Porsche for example and grow, and if that goes well, potentially open it up to all german car brands.
With my other business I never put my marketing campaign into full swing; so with this company I plan to implement and stick to a consistent marketing plan to bring the business back.
Cars always have problems and constantly need new parts, so I want to implement a customer rewards system or something of the sort to generate loyal return customers.
These are just a few of the big picture generalized things I am planning on doing, but I would love to hear any thoughts or ideas that any of yall have!
Thanks for reading
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