Welcome to my income report for the month of July!
Summer is in full swing and so I’ve enjoyed seeing my kids at home more often since they are out of school. I still haven’t managed to teach my 3 year old that when my office door is closed, I’m working. But what can I say, sometimes I don’t mind taking the forced breaks.
Next week, my family and I head out on our last vacation before the summer break is over. I’m looking forward to it.
Okay, enough of the chit chat, let’s jump into the income report!
But first, here’s what I look like today:
If you have been reading my previous income reports, you know that my rule is that the first picture I take of myself is the one I have to use. I have no idea why I went for this shot, but it happened and now I have to live with the consequences.
And yes, that is my 3 year old’s socks and shoes next to my desk…[table id=39 /]
As you can see from the income numbers above, Niche Pursuits had a good month.
In fact, just last month, I was lamenting the fact that I had a terrible month with Bluehost commissions. I’m not sure what happened, but in July my Bluehost sales were the highest they’ve been all year. The only thing I changed was actually removing some links…odd.
The other notable increase was from Brand Builders. I sent just 1 email to earn that commission. It’s amazing what having a large and targeted email list can do.
I also have to mention Niche Pursuits Insider as it continues to be a strong income source. I don’t reveal the amount of certain income streams, and Niche Pursuits Insider is one of them. However, I’m happy to say that last month was another great month.
If you want to see what Niche Pursuits Insider is all about, the doors are currently open right here.[table id=35 /]
The “home goods” brand had a good July. Sales were a bit stagnant in May and June, so its nice to see a slight increase for July.
The cool news for this brand is that we started selling on Walmart.com! Yep, I now sell physical products at Walmart! (okay, just on their website…but still…)
The approval process took a while as each brand is manually reviewed by the Walmart team. We actually sold our first unit in June, but by the end of July we had started to figure out the online Walmart marketplace and we sold about $900 worth of goods!
I only expect things to continue to grow on Walmart.
The other big news here is that I’m strongly considering selling this brand. I’ve already discussed selling this business with a couple of people (including one broker), and I expect this business to be “listed” for sale in the next month or so.
If you do the math based on the income I’ve reported here, you can see that selling the business would result in a pretty sweet payday for me.
If this is something that people are more interested in hearing about, let me know.
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The fitness brand was about even for the month of July.
However, lots of things are happening behind the scenes. We have 2 new products that we have been trying to launch for a while, and one of those we finally decided to list on Kickstarter!
The campaign still has a couple of weeks to go, so I’ll wait to share the full results next month. However, I will just say that Kickstarter has not gone as well as I had hoped.
We’ve done everything I know how to do:
- Did a 7 day contest to build excitement about campaign. Had thousands of entrants
- Emailed my list of 17,000 “fitness” enthusiasts multiple times
- Set up Facebook ads
- Reached out to 1,000 bloggers/influencers/publications in our niche
At the end of the day, we are just not seeing the amount of backers that we wanted to. However, there could be a silver lining: we’ve connected with and started discussions with several influencers through our outreach that could lead to some interesting things.
Again, our campaign has another couple of weeks, so I’ll share more in my August report. At the end of the day, I think we may have been better off just launching straight on Amazon. But I really wanted to try Kickstarter to see what would happen.[table id=37 /]
I don’t have much to report on the Amazon incubator. We haven’t launched any new products and it’s really not a focus right now. As a result, it’s basically flat for the month.[table id=38 /]
We had some really interesting things happening in July with the music brand! Although, the numbers look basically flat, I’m encouraged by what happened in July.
Also, it’s important to point out that this business has grown 247% since March of this year.
In July, Brandon (brand manager for this music brand) and Jake attended a tradeshow in Nashville, TN and had a booth for our company! These guys did an amazing job designing the booth, setting everything up, and connection with attendees.
As a result of the tradeshow, we now have several retail stores that want to carry our product and a couple of distributors that expressed interest in representing our product. Since the tradeshow, we received our first 2 retail purchase orders (one was in August), and I expect more to come in August as well.
We will continue to run Facebook ads to our own Shopify store and do what we can to sell on Amazon, but this is a product that people LOVE when they see it in person. Because of that, our focus is going to be more on retail…which is a whole new ball game for me.
Brandon, Jake, and I will be learning the ropes of retail together and hopefully will have good things to report by the end of the year (i.e. big growth numbers).
Total Disclosed Income for All Brands – $38,048 (Last Month $34,371 / +$3,677)
Overall, for all my brands the income was up a few thousand dollars. I’m happy with the way that July turned out!
When you add the reported income to Niche Pursuits Insider and other projects that I have in the works, I’m feeling quite positive about the future.
I’ve been quite detailed in the income listed above. However, I also have several other sites or income sources that I prefer not to be as detailed with. I hope you don’t mind.
Here’s some additional sources of income that I won’t reveal the exact amount of:
- Small niche sites making less than $500/month.
- Long Tail Pro Ownership. I still own a portion of the Long Tail Pro business and receive quarterly distributions based on net profits.
- Investment websites. I have invested in several other websites. For most of these I own anywhere from 5% to 33% of the business.
- Jake FBA Business Partnership. I invested in an Amazon FBA brand that Jake runs personally.
- Niche Pursuits Insider. My training and membership site where I share the business strategies that have worked for me.
Overall, if you have any questions about the income report, let me know if the comments below.