Tell us about your business. How did you choose what products to sell?
My background is in electrical engineering. I enjoy tinkering with old collectibles like muscle cars and fixing them up. I realized that these radios would be a great addition to any home if they worked again and looked like new. These retro radios would be loved by customers if they were re-cycled to include Bluetooth technology and MP3 playback. Our products can be found anywhere. We look for antique radio conventions, garage sales and other sources. You can find them in antique shops, thrift stores and online.
How did you get your first sale? What channels generate the most sales and traffic?
My Shopify site was just up. I was able to find a buyer quickly so I focused on writing and creating a memorable sales experience for my customers. I write interesting descriptions for each unique product to highlight the beauty of the design. I try to have fun by pointing out some of the quirky characteristics of these beautiful old beauties. It’s fun to think about fashion trends from decades ago and how they influenced radio design elements. Shopify is the best channel for our company. My first radios were sold on Ebay. My Shopify store was launched in May 2014. The Ebay channel generated 100% of my sales. By January 2015, the Shopify channel had generated 40% of sales. My Etsy store generated 20%. The total revenue from the Shopfy channel was $12K, while Etsy generated $8K. Ebay is now far behind these more lucrative channels.
Let us know about your back-end business. What apps and tools do you use for managing your store? What are your methods for shipping and fulfillment?
Shopify Product Reviews and RetailtowerPro are my favorite tools. Product bundles are the best way to generate more sales. It allows me to sell premium merchandise at a lower retail price. Retail Tower has made it easier to post my products online. All shipping and fulfillment is handled by my wife and me. We test every product to ensure it is the best we can sell. We carefully package the radio to ship anywhere in the world. I wouldn’t trust anyone to handle the merchandise at that point. My wife is very familiar with how I want the product look. She makes sure that the radio is ready and waiting for the customer when they receive the package.
Which are your top tips for new store owners?
Although I love the product, I sometimes feel sad when a radio I purchased sells out and I have to ship it to another home. Customers appreciate our care for each order. We provide a lot of paperwork to answer customer questions and thank them for placing their order. We are grateful for the repeat business from many of our customers. Shipping insurance is a must for all items, as bad things can happen even to the best packages. It is important to quickly respond to customer inquiries and refund them as soon as possible. This will help you create a store that people love to shop at.
Dropshipping: The disadvantages
Dropshipping is a popular business model for entrepreneurs today, but it has its downsides. Dropshipping is not always easy. Business owners must be aware of all potential pitfalls and make informed decisions about dropshipping.
Low Margin
Dropshipping has the most important advantage of all. Because it is easy to set up, dropshipping has begun to be competitive. Dropshipping is a popular way to get into the online retail industry. To stay ahead of your competitors, you have to lower prices. Dropshipping has a low overhead, so it’s financially feasible to start and maintain a business with low profit margins.
Supplier Issues
Your brand is the face and voice of online retailing. The majority of backend processes are not under your direct control. Because there is no inventory control, there is room for error. You will be held responsible for any mistakes that you made.
High competition
Dropshipping is a great way to get started. There is a lot of competition on the internet. Dropshipping is easy and anyone can do it. This is why there have been more online retailers since the start of the pandemic.
