In this video I cover why I paused my Shopify Store.
- Store has been operational for over 12 months
- Store and associated costs were $200 per month to keep store running
- Sales dropped to $1000 per month from $3000 per month
- Business was running cashflow negative
- Decided to pause store until I can establish new direction
- Store sold t-shirts and jewellery
- The last straw was 3 refunds due to supplier problems
- The profit of $5 per t-shirt represents 16% margin
- T-shirts are DTG printed locally
- Low margins make profits so much more difficult
Where to now?
- Take my Knowledge and apply it to a new niche
- Research new opportunities
- Looking for high margin products in high demand