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Virtual Pet Store – Road to Profitability – Days 3 and 4

Estimated reading time: 3 minutes, 7 seconds

Days Three and Four

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Please note all activity was as of  9/17/2016  @ 16:30

Time Left To Profit

-331Days -14Hours -9Minutes -27Seconds

Previous Balance:  -26.07

Sales 9/16/2016  $146.09
Sales 9/17/2016  @ 16:30  $121.91
Shipping Revenue 9/16/2016  $0.00
Shipping Revenue 9/17/2016  $0.00
Ad Expenses  9/16/2016  $43.12
Ad Expenses 9/17/2016  @ 16:30  $17.43
COGS Expense 9/16/2016    $49.12
COGS Expense 9/17/2016 @ 16:33    $21.71
Shipping Expense  9/16/2016   $21.91
Shipping Expense  9/17/2016  $12.12
Paypal Fees  9/16 and 9/17   $9.85
_____________________________________________

Profit as of 9/17/2016 @ 16:43   $66.67
Profit Goal: $4250/month within 32 weeks

Keep in mind,  the customer emails, likes, shares, views on Facebook will drive sales in the future.....  this is not accounted for in the profit calculations but has value.  

Direct Link to General Journal

Mobile users: be sure to scroll up and down, left and right to see all the information.

 

Again,  this does NOT reflect the customers  I've added to my marketing list that have purchased product (which is very valuable) or the traction I received with the commercial I posted on Facebook and the activity from my posts,  which were grown organically.   It also does not reflect labor expense that would be incurred for someone processing the sales.... I don't plan on doing that myself forever.   There is no shipping revenue since I am offering free shipping.

This is Day Three and Four of my journey to making my Pet supplies store profitable in 14 days.

Long Term Goal: Sell within 12 Months after reaching profitability.

See all the Post related to this Project at the Online Pet Store Project Page

If you want updates, be sure to add your email to my list. You will get notified when this page is updated with additional results and follow us on our journey to making MyPetSupplies.online profitable.

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Summary (the past 48 Hours)

  1. Checked and posted stats and sales.
  2. Fulfilled orders to drop shipper.
  3. Answered 3 emails
  4. Created targeted video ad
  5. Paused non-performing campaigns
  6. Researched Paypal Layaway function (Lay-Buy)  Think link is an app for Shopify,  but it is also available for Woocommerce if I decide to drop Shopify.
  7. Studied feasibility and costs of dropping Shopify and hosting on my own with WordPress and Woocommerce.  I may do a review of the two later since I now have some experience with it.
  8. Added Storeya Impressions as Number of Customers (formerly it was under the actions column)   Sales are under Actions.
  9. Added "Budget" column to General Journal Spreadsheet... this displays the amount budgeted for that advertisement.
  10. Added $100 to marketing budget for Storeya - since they gave us a $75 credit.  It needs be taken into consideration for conversion rates.. otherwise stats will be skewed.

To DO LIST

  1. Fullfill Sales
  2. Adjust marketing
  3. Answer emails
  4. Install Lay Buy
  5. Finalize calculations for transitioning from a hosted platform (Shopify) to a self hosted platform (WordPress + Woocommerce)
  6. Do a daily marketing update instead of a total for each day.  This way we can keep track of trends, etc.

Below are the current campaigns I have running:
Direct Link to Campaign Details

Mobile users: be sure to scroll up and down, left and right to see all the information.

 

If you have ANY questions or see ANY errors,  PLEASE leave them in the comments section... I do make mistakes from time to time.  

Finally,  check out my book on Amazon for a primer in Online Investing

virtualeconomy1

 

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