I Sold My Drop Shipping Store for $60,000

It's been a crazy journey with dropshipping. I started my first store exactly three years ago and today, I'm officially out of the business. This post is going to answer all of your questions about how and why I sold my store, how much I actually sold it for, what I would do differently if I started over, and the real truth behind if drop shipping is a good business or not.

This post is going to answer all of your questions and show you exactly how I went from not even knowing what ecommerce where I am today, sixty grand richer, and a heck of a lot more experienced. Here's what I'm going to do next, what I'm going to do with the money and what I'm going to do with my other stores.

Selling My Dropship Store:

The highest offer I got for selling my store was actually a bit more at $65,000 but came with the requirement of needing to spend 80 hours to train the new store owner which I don't have the time or patience for. Luckily, my friend who's in my mastermind accidently told a few people I was in the process of selling my store and found me a new buyer.

The guy who ended up buying my store is actually a member of Anton's course and already has a successful store on his own. I knew that since he was already familiar with Anton's method, Shopify, Google Ads, and fulfilling orders, it would be a relatively simple transfer and it was. Instead of taking 80 hours to train the new buyer, explain to him how dropshipping works and how to use everything, it only took us 5 hours total spread over the past week and a half. We started the transfer on May 8th and just finished yesterday.

I'm really happy to see that sales have still be consistently coming in even after switching everything over to his accounts which was kind of a pain but well worth the effort.

Consistent sales from the store after the transfer

Total Price and Profit:

Since the first buyer would have been a huge headache, I decided to take another buyer's offer of $60k minus fees which ended up being $57,635.00 deposited into my bank account. The price was calculated using a 27X monthly profit multiple which means I'm getting paid for 27 months (2 years and 3 months) of profit upfront for the sale of the store. If you do the math, this store made a bit more than $2,000 in take home profit every month after all expenses on average. Our best month ever was a bit over $4,000 while our worst month was just around $1,000 in profit.

In the 2.5 years I've ran this store I've made a total of $80,636.54 in profit plus the sale price of the store giving me $138,271.54 which is pretty crazy as I started this store for less than $1,000 total including buying Anton's course, paying for hosting, domain name, etc. It's especially crazy that I've never had to buy a single piece of inventory since everything is dropshipped. Our total revenue was over $800,000 which is pretty insane as that's well over a quarter million dollars a year in sales.

The thing I'll miss the most from running this store is the crazy amount of travel miles I've been racking up just fulfilling orders and paying for ads.

Why I Sold the Store:

Future Dropshipping Plans:

I've completely walked away from this store which means I no longer have any ownership it in at all and have already gotten paid. While I technically didn't sign a no-compete or non-disclosure agreement but out of respect for the new owner, I'm never going to start another store in the same niche or publicly talk about it as he's a great guy and I wish him all of the success in the world.

His goals with the store are to change the theme to make it mobile responsive and turn on mobile advertising. He's already started getting close to the suppliers and since he's a smart guy that's super easy to like, they are going to continue the relationship with him and not approve more online only competitors which is a great thing for him.

As for me, I'm going to take a few months off to chill out and relax this summer in Europe. My goal is to be able to go on a 12 Day Mediterranean cruise with my parents and sister without worrying about not having internet access. I'd also really like to volunteer in Nepal and eventually make the 30 day walk across Spain via the Camino de Santiago. The only businesses i'm going to start until then are going to be completely digital and passive.

But, keep an eye out on the blog as my plan for November is to invite a group of ten interns or partners to start stores together with the sole intention of selling them after they are built and show profitability for 6 -12 months. More details will come after this year's dropshipping retreat in October but the requirement will be you either need to be a part of Anton's course or have have proven yourself with a profitable store. If you haven't' started yet, what are you waiting for? I was completely broke just three years ago and now I have more money than I know what to do with.

Why I'm Sharing This:

Two and a half years ago when I first wrote my start here post, I was still torn whether or not to share my success with dropshipping or to keep it a secret. Most people keep it to themselves as they don't want to attract unwanted attention or competition and trust me, you get a ton of both. Just by writing this post and not keeping the sale of the store to myself, I'm going to be a ton of hate mail and people saying things like "see dropshipping sucks, even johnny's getting out of it." 

Those people are idiots. I wonder how many of them have been following my journey for over a year or even worse when I first started and realize how much money they've left on the table by not following my advice to do the same. There are a tons of pros and cons of dropshipping, there are just as many for every business out there whether it be working for a boss, starting restaurant, getting into amazon fba, or even being a programmer. If you didn't watch the "why i'm selling my store" video yet, scroll back up and watch it as it'll explain it in detail.

I total I've sold to and served a total of 1,450 customers which the majority were super happy that they bought from us as they received their product super quickly as we ship direct from the manufacture. Customers loved us and the product they received enough to leave positive reviews and reorder multiple times which really shows how satisfied they are. 

The hard facts are, I am now $138,271.54 richer from the monthly profits and sale of one dropshipping stores. 

That doesn't count the other store I still have, (and plan to keep) the knowledge I've learned from starting the business or the income I've generated from my other passive income sources since. I'm so glad I never listened to nay sayers or people who have gave up, failed or worst off, people who never even really started as there's a good chance I'd still be completely broke like i was just a few years ago before I started dropshipping.  

If I had listened to people who have never done it themselves, and let the crabs in a barrel pull me down into their unhappiness I'd still be broke today. Instead I followed my heart, put in the work and ended up much better off financially that I ever could have dreamed of. 

My bank statements from 2013 and 2016

Final Thoughts:

Dropshipping is not easy but it's worth it. Starting a dropshipping store is similar to starting ANY business as in it takes time, money and effort. However, what's incredible about the drop shipping model is the fact that you can do everything from your laptop where ever you are in the world, you don't have to pre-purchase any inventory, sign a 12 month lease, buy equipment or any of the other requirements of starting a physical business.

In general starting a new store takes around 2 months, which I documented in my 30 Day New Store Challenge when my girlfriend at the time and I started a store together last year, is currently worth $64,784.07 if we sold it tomorrow.

Ask me if 2 months of extremely hard work, followed by a few hours maintenance a week afterwards is worth over $2,000 a month in profit and $60k whenever I decide to sell it and I'll tell you if you offered that to me when I was broke, I would have done anything and paid anything for that opportunity. This is why I share my journey, this is why I've spent countless hours helping other people get started. This is why I still recommend Anton's dropshipping course as the best starting point for people to start their first business. 

Update:

Listen to the episode I just did with Anton himself where we talk in detail about selling the store, how it all started, and future plans.

If you want to know more here's a ton of info:

Read: Why I Promote Dropshipping as an Affiliate 

Download: Dropshipping Discounts PDF

Listen: Episode 10 - The Man Who Made Me Rich


P.S. if you have a decently popular podcast or know of someone who does, I'm more than happy to come on as a guest to share my journey and answer questions! Email me at media@johnnyfd.com

Everyone else, if you have questions, ask me in the comments below! 

MARCH 2017 UPDATE: 

Larissa and I just sold the store we started together for a similar amount! I'll be writing up a full announcement soon, but it's amazing as she's buying a house and the $30,167.82 each we received from the sale is amazing!

Here's the video of me explaining how we made over $100,000 in profit from building, running and selling the store.

Update: Q&A

A lot of people have asked why I sold my 2nd drop shipping store and if I'm getting out of it completely.

The answer is it was a smart move and timing to sell, as neither of us were putting any attention in the business and it's always better to get 27 months of profit upfront than to run a business if you're not planning on growing or scaling it. And it was perfect timing as Larissa was buying a house and needed the cash.

For me personally I'm not starting any new stores myself anytime soon but I've started a couple stores with partners this year that are starting to profit. Anton's course still works in 2017 so if you wanted to start your own business, it's the way to go. Best of luck to everyone, and feel free to ask me anything in the comments below!





Warm Regards,



Johnny FD


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