Entrepreneur Steve Chou discusses the financial breakdown between his e-commerce store BumblebeeLinens.com and his info-product business with Nathan Latka.
0:00 / 0:07exact quote · 7.6s
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“So I don't reveal those numbers, but let's just say it does more than the blog. However, the profit margins are obviously less because we're selling physical products.”
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More from Steve Chou
Insight
Steve Chou: Raising online course prices improved the quality of enrolled students
“I started raising it really quickly because early on the quality of students wasn't so good, and I found out by raising the price, the quality got a lot better.”
Steve ChouAug 18, 2016▶ 4:33EP 390: Is This The Most Successful InfoProduct Ever?
Disclosure
Chou: Bumblebee Linens sees ~60% net margins on personalized items
“For the personalized stuff, yeah, on the order of 60.”
Steve ChouAug 18, 2016▶ 10:54EP 390: Is This The Most Successful InfoProduct Ever?
Insight
Chou: Wedding products command higher markups due to low price sensitivity
“We target weddings, and so you can mark up wedding stuff obviously a lot higher than other things, because people don't care about price so much as quality.”
Steve ChouAug 18, 2016▶ 11:00EP 390: Is This The Most Successful InfoProduct Ever?
AssertionNot checkable as stated
Steve Chou: Course made $500K in 2015 and matched it by mid-2016
“So last year it did 500,000. And then this year we're already at that same point, half, halfway through the year.”
Steve ChouAug 18, 2016▶ 4:54EP 390: Is This The Most Successful InfoProduct Ever?
AssertionNot checkable as stated
Chou: 10% to 13% of live webinar attendees purchase course
“Like, 80% of the people stay till the end, and I've been getting anywhere from 10 to 13% of people who actually buy.”
Steve ChouAug 18, 2016▶ 7:49EP 390: Is This The Most Successful InfoProduct Ever?
AssertionNot checkable as stated
Chou: Monthly webinars generate $40K to $70K each
“Anywhere between 40 to 65, 70 grand per webinar.”
Steve ChouAug 18, 2016▶ 8:11EP 390: Is This The Most Successful InfoProduct Ever?
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