Rito Entrepreneur, YouTuber, Digital Marketer. Founder of Flying Start Online. Dream big, make it happen, and just do what needs to be done!

Income Report For February 2018 – Shopify Dropshipping Store! (Bizathon5 Episode26)

1 min read

Income Report Revenue Common Panda

Welcome back!

Today we’ll be covering our February 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 February:

We intend to make our monthly income report a regular thing.

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.

Believe it or not, people are actually surprised by our honesty and transparency. 

We’re keeping the trend going and with the hopes of inspiring.

Here’s our February 2018 Income Report…

3 Pillars Of FSO (Income Report)

February 2018 started off great for us. 

However, with the Chinese New Year, multiple winning product suppliers took up to 3 weeks off to celebrate.

These sabbaticals very much affected our numbers for this month.

We’re expecting things to continue trending up for March.

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 February 1 to February 28 were…

$7,204.43

Our fulfillment costs range from 25%-35% of our asking prices.

Revenue

Income Report Revenue Common Panda

The total revenue generated, including refunds and chargebacks for February was…

$21,613.29!!

We didn’t have any chargebacks this month, and only issued a handful of refunds.

This number ($21,613.29) represents the Gross revenue generated.

From February 1 – February 28, we processed 448 orders.

You’ll notice a substantial drop in revenue on February 15.

We went from averaging $2k+ per day to about $30 dollars.

This is because we had to pause nearly all of our winning product ads until we could reconnect with our Chinese suppliers who left for an extended holiday.

Total Ad Spend

Total Ad Spend February 2018 Income Report

From February 1 to February 28 we spent a total of…

$3,912.59

You’ll notice the spend and website purchases nose dive about the same time as our revenue due to the Chinese New Year.

We also spent some money on our Adwords Display Retargeting…

$239.81

February 2018 Net Profit

Common Panda Monthly Income Report Totals

$10,256.46

This is quite good considering our store (CommonPanda) is public, often copied, and faces immense competition with our winning products.

But that’s all fine and dandy so long as we are still able to inspire and help people, while still turning a profit ourselves.

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 26 – Great work!

Questions, comments or just want to say hi?

We love hearing from you in the comments below!

Success by choice, not by chance,

-David Aston

P.S.

If you’re not kept in the loop via our #Bizathon definitely sign up today.

P.P.S. Click here for Episode 27!

Rito Entrepreneur, YouTuber, Digital Marketer. Founder of Flying Start Online. Dream big, make it happen, and just do what needs to be done!

15 Replies to “Income Report For February 2018 – Shopify Dropshipping Store!…”

  1. Kudos to your achievements and the well deserved rewards for the hard work. Just a quick question though, Being a master in attracting people like crazy to your content and achieving such a level of understanding of target audience’s psychology, How come FB page of flying start online has 3k followers where as the number of peole making purchases at your store at a daily basis is almost twice that. Why such a huge discrepancy? I am admirer of hard work and this is a genuine query I have for you.

    Hoping to hear from you soon.

  2. How to Activate the Shopify Store?? Well, I’m Trying to activate it with my debit card but its is not activating!

  3. Hi Rito,
    1.Your website commonpanda.com is not accessible.
    2. I have been learning a lot from your Bizathon series about dropshipping. They are pretty good. I also wanted to know that do we need to have any agreement with the manufacturers on Ali pay express ?

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