At some point each month we cover our income report for the previous month.
Today we’re covering our March, 2018 Income Report.
If you’re already familiar with Flying Start Online, you know that for the past several months we’ve focused on our Shopify Dropshipping Store.
That said, this income report is reflective of just that – CommonPanda.
Enjoy the video as Rito covers profits and losses for March:
Rito has many digital assets ranging from Software to Membership Websites.
But these reports will focus solely on our CommonPanda Shopify Store.
The best part is, you watched us build this store from scratch.
If you’re new around here, This Is How We Did It.
Fulfillment Costs
For the sake of this video, we’ll assume the fulfillment costs were 33% or 1/3 of our generated revenue.
So fulfillment costs from March 1 to March 31 were…
$6,373.89
Our fulfillment costs range from 25%-35% of our asking prices.
Revenue
The total revenue generated, including refunds and chargebacks for March…
$19,121.69
We didn’t have any chargebacks this month, and only issued a handful of refunds.
This number ($19,121.69) represents the Gross revenue generated.
From March 1 – March 31, we processed 393 orders.
Total Ad Spend
From March 1 to March 31 we spent a total of…
6,156.03
And finally…
March 2018 Net Profit
$6,591.77
Facebook Ads CPM, CPC and overall ROAS are all affected by the end of the Q1 Spending Spree.
The final three weeks of every business quarter, see higher ad spends by companies of all sizes, in all industries.
Many need to deplete their marketing budget for the quarter to receive the same amount if not more for the next quarter.
While we also have some auxiliary monthly expenses such as a Virtual Assistant and Customer Service Representative, they don’t cost much or significantly impact our net profits.
If you’d like to build your own successful Shopify store, check out our 6-Step Shopify Webinar.
We’ve removed all the risk for you, so don’t procrastinate.
Get started today.
That’ll do it for Episode 5 – Great work!
Questions, comments or just want to say hi?
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P.S.
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P.P.S. Click here for Episode 6!
