I’m at an interesting place with this one. BodyMonkey.com, the online store I started over a year ago has been stagnant for a while for one reason: Me.
If you don’t know how House Of Rave works, you can read here.
Body Monkey and House Of Rave are both based off the same supplying company. HoR is more of a specialty light-up novelties shop while BodyMonkey was intended to carry all the other mainstream products the supplier carries.
I have drastically cut down on the amount of different projects I dabble, and it’s the best move I ever made. With every new project I get a little more distracted, and this results in having several just-mediocre projects.
So I’ve decided this: I’m going to get rid of BodyMonkey.com. I can either sell it, or kill it. I really don’t care which one and just want it ended (at least for me). The fewer things I have going on simultaneously, the better.
Bringing BodyMonkey to a good level will require a little work. Mainly keeping the site fresh and doing all the things I did for HoR the last few months. It’s on the Yahoo Shopping platform, so it brings in of orders just based through that without even marketing. Not to mention the site is already SEO’d quite well.
If I sell, the buyer gets a complete business in a box. The business has a very low cost structure, is easy to operate, everything is already done and it is already accepting (and making) orders.
However if I want to properly sell it I have to make a sales ad, tabulate profits, write about how it runs yadda yadda…I don’t want to do it. The site makes roughly a few hundred dollars a month (despite not being updated for a year…that’s not bad), and honestly I don’t keep any accounting for it. It has no debts and is ready to run and be updated. What it makes right now does not justify the asking price, but having the business ready to go with a good supplier does.
I think the ideal buyer is a reasonably competent computer person looking to buy a small business that already has a foothold, works well, requires little investment and no actual physical work or inventory (everything is drop shipped).
So why don’t I just sell it cheap? Well…look at BodyMonkey and then look at HouseOfRave….see a few similarities don’t you? In fact, the sites look exactly the same. Since both sites use the same supplier, there is the possibility that BodyMonkey will take away from HoR sales. They look the same, AND the product lineup will be similar (except BodyMonkey will always have a lot MORE products). For this reason, I’d rather forgo getting several thousand dollars for the business.
I basically pull the plug and it’s gone (actually, it’s more like a mouse click). I don’t get any money for it, but it’s already made back what I paid to make it and then some….so I’m not losing anything either. I say good riddance and move on to my other projects with one less thing to worry about.
So unless I get an offer of at least between $5-$10K for the business, I kill it by months end. I think $10,000 is still kind of a pittance, and even if I get it, I won’t be happy about it.
However the growth of other projects is more important than dabbling around on this for any longer.