Starting an online business can be very intimidating and exhausting, but when you hear about all those Shopify millionaires it can also be very alluring. There are numerous things you must take care of like how not to lose money, how to optimize your landing page.
Additionally, you must be able to manage the entire business process – from selling and shipping to managing inventory and payments. That is when the e-commerce platform Shopify comes to your aid. Countless successful Shopify stores are doing their best to make great products for their valuable customers.
Today, we present you with three of the most successful millionaires who derived their wealth from the Canadian e-commerce platform Shopify. Hopefully, they will inspire you to start an online business and get yourself a million-dollar fortune.
Kylie Jenner – Kylie Cosmetics
The very first name in our list is none other than the world’s youngest almost billionaire – Kylie Jenner. She was just 18 when she was tickled with the idea of starting a business by herself. Being the youngest member of the Kardashian family, she could have chosen to live a life full of comfort.
Instead, she chose a life to hustle and invested everything she had in the production of lip kits. The social media star launched her company in 2015 with a $29 “lip-kit” that includes a matching set of lipstick and lip liner.
Kylie Jenner’s beauty empire is reportedly worth $1.2 billion, in which Kylie herself owns a 41.1% stake in the company. She also earns from other several sources like TV shows, as well as product endorsements for brands including Puma Shoes, and PacSun Clothing.
Having started her Shopify Store, it took the makeup mogul just 3 years to create her empire. The store has been widely recognized for its flash sales as the products are sold out within a minute.
Ben Francis – Gymshark
The 28-year-old fitness enthusiast is today the owner of the second fastest-growing company in the United Kingdom. Ben Francis founded the fitness apparel & accessories brand when he was just 19 years old, and that too from his mother’s garage.
Today Ben Francis is one of the richest people in Britain with a fortune worth £138 million. Ben had his belly burning with the entrepreneurial fire long before he started Gymshark. As a teenager, he started a website that sold car license plates.
After that, he built and launched fitness tracking apps that earned him around £8,000. He then went on to start an online retail business that sold health supplements to fitness freaks. Soon, he found that the profit margins from health supplements were pretty low and so he moved to producing gym clothing.
Ben Francis is himself a keen-gym goer and he states that he himself often could not find the perfect workout clothes. Gymshark joined Shopify after their former e-commerce platform caused a major glitch to their website which cost them $143,000 in lost sales.
Today, Gymshark has customers in 131 countries and generates roughly $128 million in annual sales.
Tim Brown – Allbirds
Tim Brown is the co-founder and co-CEO of the $1.4 billion company – Allbirds. The former footballer-turned-entrepreneur started the footwear company just six years ago along with San Francisco based biotech engineer Joey Zwillinger.
Throughout his football career, Tim wore boots manufactured by Adidas and Nike; but he always felt the shoes were often too flashy and packed with corporate logos. That is when he decided to make something simpler and make his own.
Today, the billion-dollar company is famous for crafting the most comfortable shoes in the world. Additionally, the shoes are manufactured with environmentally friendly materials like merino wool and eucalyptus tree fiber.
Since their initial launch, Allbirds have continued to successfully raise money from investors to grow the brand. Today, the company’s annual revenue is more than $50 million and has launched its retail stores in 14 cities worldwide, including Seattle, Shanghai, Berlin, San Francisco, and Chicago.
The Bottom Line
The success of these Shopify stores varies, but they all are a great source of inspiration for a successful online business. Just remember that the key to any success, regardless of its size, is passion, strategy and some good old-fashioned elbow grease.