Welcome to my May 2017 income report!
As usual, I had a lot going on during the month related to business, so I’d like to share a few highlights. Overall, you will see that it was a good month. My total income was up a couple thousand dollars this month, and I also launched Niche Pursuits Insider.
For now (and maybe always), I don’t plan on revealing the income for Niche Pursuits Insider. But if you are wondering, when all you charge is $1 trials the last few days of the month, the actual income isn’t that significant. However, as people stick around (which most are), the income for June will be significant for Niche Pursuits Insider.
I’m also very excited about my “Music Brand” that you can see below. The income over doubled during May, and the early signs in June point to another growth month.
And here’s my obligatory selfie for the month. I’ve decided that I’ll just use the first picture I get of myself each month, so this month isn’t too flattering. So, enjoy that…
As usual, I am going to break each “brand” out with its own income table. If you just want to see the total overall, you can always scroll down. But if you like the additional detail on each brand that I operate, it’s all there.
Please note: *Gross Profit is the profit after all costs of good sold. So, for any Amazon FBA product sales, I’ve already subtracted the manufacturing costs, returns, shipping costs etc. However, this is not a net profit number…to get that, I’d need to subtract out salaries, software expenses, etc.[table id=22 /]
So, the income for NichePursuits.com is down by about $1,200 for the month. The biggest drops were from Long Tail Pro (expected since I did a promotion the previous month), and AMZ Affiliate Bootcamp course. Again, I expected this to be down, since Tung did a guest post in April which is really what brought in the sales.
Finally, I have to mention Niche Pursuits Insider even though I won’t be revealing the income. The launch went better than I expected!
I had a goal for the number of new members I hoped would sign up. We ended up doing about 33% more than I expected. We now have a very active private group in Facebook and we have live training starting this week (along with all the recorded blueprints in the member’s area).
The income for Niche Pursuits Insider will be significant, and I expect it to grow quite a bit over the next year. (If you are wondering, the doors are closed to new members…but we expect to re-open in a month or so).
The other thing of note is that I have a software product in the works which is getting much closer to being completed. I’m hoping that in the next month, we can begin beta testing with users. Then ideally, I could launch it publicly in 2 months or so.[table id=23 /]
I’m happy to report that the “Home Goods Brand” is back to where it should be. As you may recall from my last income report, the earnings were down a bit due to Amazon/Inventory issues.
However, our best selling products are back up and selling like they should. Nothing is perfect, some ups and downs…but an overall increase is something I can live with.
Jason is diving into Google ads (both search and content network) for this brand. We tried Facebook ads, but found that it wasn’t a very good fit for this particular audience. We are hoping to get paid traffic profitable and then scale.
We’ve got the landing pages all built with Click Funnels and are ready to go. I’ll report back next month on the results.[table id=24 /]
The fitness brand was basically flat for the month. Our existing products are chugging along, and I’m okay with that.
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We do have 2 new products (that I’ve mentioned before), that are taking a bit longer than expected to launch. However, it’s very possible that one or both will finally start selling in June. I don’t know exactly what to expect, but I would hope that these 2 new products add a couple thousand dollars per month to the bottom line.[table id=25 /]
I’m excited about this brand! I still believe that it could be a six figure brand.
The gross profit grew by a whopping 143% during May, and has grown by 300% since February this year! The reason for the growth is obvious: I hired a part-time brand manager in January, and we have been testing and tweaking Facebook ads like crazy.
We’ve found a winning formula with our ads, and we are now slowly scaling ad spend.
Also, you can see that we launched a new product on our own website (not on Amazon yet). I know $150 isn’t huge, but I’m happy with the start. We plan on launching this product on Amazon as well very soon.
Fingers crossed for another good growth month in June![table id=26 /]
The Amazon Incubator is just a hodge podge of unrelated products that I sell on Amazon. Yes, the income is up $180, but it’s not real significant.
As you may recall from my last report, one of our products (that usually does $1,500 a month) was taken down by Amazon. We didn’t know why at the time, but now we know. Apparently, part of this product had a patent on it, and the patent holder asked that we take the listing down.
So, we won’t be selling this product anymore. I feel terrible that we even sold a product that had a patent on it in the first place. We made some assumptions that were incorrect. (Lots of other sellers were selling this “part” so we assumed it wasn’t patented).
Fortunately, there are no legal proceedings, we simply took the listing down, and that’s the end of the story. Close call. But lesson learned, spend more time on due diligence before launching a product.
Total Income for All Brands – $31,629 (Last Month $29,474 / +$2,155)
Overall, for all my brands the income was up a couple thousand dollars. I’m happy with the way that May turned out.
When you add the reported income to the launch of Niche Pursuits Insider and the my new software project that is in the pipeline, 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.
Overall, if you have any questions or thoughts, I would love to hear from you in the comments below. Thanks!