Hey, so last month we looked at episode 1 and the current position of the business. Honestly there was not much going on in April, we hit about £2,400 in sales which is slightly lower than we would have liked but we didn’t invest any capital into the business so took home about £800 ready for the next launch. In episode 2 we are going to look at April’s results, again this was just a consolidation month and one where we are researching a lot of products. 2 have now almost sold out but have been purchased and are on-route to their respective Amazon fulfilment centres.
Results for April
April was a pretty quiet month as previously mentioned. Nothing much going on but still some nice sales. Remember this is a passive business, we spend less than 4-5 hours a week on this business. The majority of the time input comes from product research and launching a new product when they arrive, which is hopefully during the end of May. This is where a high amount of capital goes too.
Instead of the broad product data I thought it would be a good idea to break everything down per product. This is for my own personal tracking reasons too. So currently we have 3 products, all stats are below:
- Revenue: £740
- PPC spend: £23
- Profit: £345.
- Revenue: £35
- PPC spend: £5
- Profit: £15
- Revenue: £1,475
- PPC spend: £28
- Refunds: £175
- Profit: £445.
Goals for next/This month (May):
- Re-launch product WRA. Increase sales velocity + Test a launch service.
- LTD company confirmation with Amazon (This is ongoing).
- Launch product 4 BEL (This includes product purchase, production and shipping)
The main aspect slowing the business is capital, and the second product. Our launch strategy is better for each product and once we have 5-7 products fully launched with our new strategy we should hit that £10k revenue mark…. Then we have to register for VAT and lose all our profits…..