At some point each month we cover our income report for the previous month.
Today we’re covering our May, 2018 Income Report.
If you’re familiar with Flying Start Online, you know we’ve been focused on Shopify Dropshipping.
And this income report is reflective of just that.
It’s the real-time, unfiltered report from our main store – CommonPanda.
Enjoy the video as Rito covers profits and losses for May – our best month so far:
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.
The total revenue generated, including refunds and chargebacks for May…
We didn’t have any chargebacks this month, and only issued a handful of refunds.
This number ($37,501.09) represents the Gross revenue generated.
From May 1 – May 31, we processed 1,162 orders.
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 May 1 to May 31 were…
Our fulfillment costs range from 25%-35% of our asking prices.
Total Ad Spend
From May 1 to May 31 we spent a total of…
May 2018 Net Profit
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.
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That’ll do it for Episode 20 – Great work!
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