how to launch a successful $10k/month e-commerce store with no experience

How to build a successful e-commerce store with no technical background

Presented by Cody McKibben (Thrilling Heroics) and Jun Loayza (RewardMe)

Cody Jun

http://MintedRepublic.com | [email protected]

Background

• UCLA 2007: B.A. in Economics and Philosophy

• Left the corporate world after 3 months

• Failed 2 companies from 2008 - 2009

• Successfully sold 2 companies from 2010 - 2011

• Closed deals with Whole Foods Market, Sephora, Levi’s, and Activision

• Raised over $1,000,000 in Angel funding

• Current full-time startup: RewardMe

• Current lifestyle business: Minted Republic


Minted Republic Overview

• Launched in February 2012

• Currently generates over $10,000 in revenue

• 5 hours of work or less per week

• 2 partners

How to get started The 1st steps to take

Why did we choose an online boutique for women’s apparel?


Establish partners that compliment each other

1. Joseph (Equity): Advertising and Operations

2. Rees (Equity): Development

3. Jun (Equity): Accounting, legal, overall management

4. Christine (Commission): Stylist

5. Kevin (Paid): Photographer


Find the manufacturer and negotiate

• Joseph (partner in Los Angeles)

➡ Met with 10 companies in the garment district

➡ Set up meetings for me to negotiate and close a deal

• Terms negotiated

➡ We hold no inventory (drop-ship model)

➡ We get access to their entire collection (sold to LA boutiques)

➡ We pay wholesale prices

➡ Manufacturer ships product to customers

➡ Manufacturer receives 10% of the profits


Build and design the e-commerce store

• Platform: Shopify Professional

➡ $60/month

• Theme: Shopify premium theme

➡ $200

• Customized the premium theme

➡ Joseph: designed based on premium theme structure

➡ Rees: coded the design

Model + Photography Catalog and Lookbook shoot

Core principle: Copy what works

We modeled our site after Nasty Gal

• Found on Model Mayhem

• Cost: $400/day

• Utilized Kevin’s account to reach out to her

Model: Lauren


Photography

• Team

➡ Kevin and Felix: lead photographers

➡ Christine: Hair and makeup

• Cost

➡ $3,500 per day

➡ $5 per final image

• Location

➡ Studio: Kevin’s house

• Stylist

➡ Christine: founder of the manufacturing partner company

➡ 10% of profits (from terms)

• Clothing + Accessories

➡ Manufacturing partner gives us samples for the shoot

➡ Christine brings accessories from her closet

➡ Buy and return from stores

Drive Traffic: advertising and SEO


• Google Adwords

• Facebook Ads

Advertising: what did NOT work


Advertising: what DID work

• Banner ads on fashion blogs

• Sponsored reviews with fashion bloggers

• Giveaways with fashion bloggers

Giveaway spike


Advertising: cost breakdown

Type Cost Payment Type

Banner ads $50 - $200 per month

Sponsored review Free - $200 per review

Giveaway Free - $100 per giveaway

Prime placement

Negotiated with fashion bloggers to get prime placement on site


Search engine optimization

• Anchor text on all sponsored reviews and giveaways

• Get links from popular fashion sites:

➡ Lookbook.nu

➡ Chictopia

• Alt tags for all product images

Improve conversions + email marketing

How to make the sell


How we improved conversions

• Free shipping and 365-day return policy

• Grapevine reviews

• Featured items on the home page that were mentioned by fashion bloggers

• Gave fashion bloggers a widget to embed our product on their blog


How we use emails

• Platform of choice: Mailchimp

• How we collect emails:

➡ Fashion blogger giveaways

➡ On-site: customer can opt-into our newsletter

• What we send via email:

➡ Style inspirations

➡ Announcement of new collection

➡ Promotions

What’s next for Minted Republic


• Hire social media manager

• Launch Minted Republic blog

• Create a network of fashion bloggers

• Expand manufacturing partners

Upcoming projects

Jun LoayzaPresident of Minted Republic

[email protected]

how to launch a successful $10k/month e-commerce store with no experience

Lifestyle

prots http

partners http

design http

premium theme joseph

shopify premium theme

joseph partner

minted republic http

joseph equity