It looks like I will be purchasing a drop-ship ecommerce website. The website was developed early this year, but never accepted orders or did any marketing. Thus, the price on it is pretty low and probably less than what I would have to pay to have it developed.
Except it comes with established relationships with vendors, which is very valuable. Not too mention over 2,000 products already setup and 30 days training. IMO, the price is easily justified by these factors since traditional valuation is not available with no sales history.
I’ve been reading a lot about what causes success and failure in dropship businesses, and what I’ve deduced is that failure is usually the result of a lack of effort – not understanding the amount of time and work necessary to make it work. Success is due to high Google page ranking (SEO) and customer service.
This site has not been marketed at all, and needs a lot of SEO work, but I’m willing to put in the hours. I plan to spend at least 8 hours each week dedicated to the site, and I’m giving myself a 2 year time table to have the site making over $1k pre-tax profit/month. If in 2 years I cannot get it to that point, I will sell the site and probably get about what I paid for it.
What do I know about SEO? Well, I have almost no experience with it except the little I’ve done with this site so far. I do have a good understanding of the concept though and will share what I learn as I go.
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