How much money can I make dropshipping?

Dylan Bridger

Dylan Bridger, Président, COO chez ZenRevenue Inc. (Agence de marketing de contenu)

Répondu il y a 76w

Réponse d'origine: How do I make money using dropshipping?

Dropshipping is a great way to get started in e-commerce and entrepreneurship in general. It’s fun and enables you to get practical experience with minimal financial risk.

Here’s a very quick overview of the steps required to make money using dropshipping. These steps are based on my personal experiences creating profitable e-commerce dropshipping stores for myself and for clients.

Select your Niche:

This is the first step and one of the most important steps. I assume you are looking to dropship products from AliExpress (although there are other options but I will not discuss them here). I could go on a long rant about the intricacies of selecting a good niche but, in the interest of concision, here are some of the key considerations:

  • Make sure that YOU feel personally comfortable & confident in marketing whatever product(s) you choose to the target market — start by exhausting product categories within your sphere of passions or hobbies. This will make your marketing efforts more effective.
  • Depending on your risk tolerance, you might consider avoiding products that retail for over $100 USD. This is because dropshipping is notorious for losing parcels in transit — so you probably don’t want to be stuck refunding customers for large ticket items.
  • Your product should be a reasonably small size, to make transportation easy. Consider selling products that fit within a shoe box.
  • Profitability — go to AliExpress & check the cost for the products you want to sell. Now go to amazon or other boutique ecommerce shops that you will be competing with and check their retail price points. If you can make a decent profit margin on each unit, then it’s a viable product. If you can’t, then clearly scrap the idea.

Create your E-Commerce Store:

Once you’ve decided on your niche, it’s time to build your e-commerce website. You can choose to make the e-commerce storefront yourself or hire a web designer to create an e-commerce website pour vous.

Common options for e-commerce stores are Shopify, Squarespace and Woocommerce integrated with WordPress. I personally recommend Shopify as it is very powerful and e-commerce oriented.

Once you’ve loaded your products into the shop, you set your retail price points and write all of your copy for each product. This process can be time-consuming depending on how many products you hold in your store.

As a rule of thumb (this depends on your niche and target market), I’ve achieved optimum results by offering at least 50 products overall. This offers a decent variety to your visitors and conveys the message that you are in business.

Promote your E-Commerce Store:

Whether you opt for organic marketing des médias sociaux or paid digital ads, you need to promote your store. This can also be done via blogging and SEO efforts.

Dedicate your time to promoting the heck out of your new e-commerce shop but don’t spam! This will devalue your brand and put off potential customers. Share précieux content and authentically s'engager with your online communities and your audience will reciprocate with orders.

Once you get an order, make sure you show appreciation and go above-and-beyond to offer a personalized experience. I recommend sending a customized note to the buyer thanking them for the order. You want each individual customer to tell their friends about your brand. This is how the real scaling happens.

Processing Orders:

Congrats on making your first sale! Now it’s time to make sure your product gets to your customer.

So your customer sends you a payment via your online payment gateway at your established retail price. You then take their contact info, sign into your AliExpress account, and order the respective product using the end customer’s name & home address. You keep the difference between your retail price and the AliExpress product cost — this is your profit margin.

Note: make sure that you put YOUR phone number on the AliExpress order because if anything goes wrong in the delivery, you will want them to call YOU rather than your end customer.

Dealing with Returns:

In general, there is a relatively high chance of poor quality product or damaged products when it comes to dropshipping. It’s the cost of the business model — you don’t see the product at all so you’re ultimately leaving product quality control in the hands of your supplier overseas.

In light of this, I recommend offering a no-hassle returns policy on every order. If a customer is not satisfied with the product, they simply send it back to you and you refund the cash.

Agsin, it’s a cost of doing business and it will improve your on-page conversions if you offer such a guarantee.

Conclusion:

Dropshipping is fun and standing out from your competitors is the key!

Social media marketing goes a long way I’ve found — particularly Instagram marketing.

If you want any help getting started or growing your business once you get it up and running, please send me a message. I love seeing new e-commerce companies develop and I’d be happy to help you boost your sales.

Bonne vente!

Dylan

Henry Berg

Henry Berg

Répondu il y a 19w · L'auteur dispose de réponses 132 et de vues de réponses 45.4k

Réponse d'origine: How much money can you make by a dropshipping business?

Let’s see how my friend makes much money with dropshipping business by reading his article below!

Imagine investing $1,000 into something and watching it grow in value to $100,000 in just one year. To really wrap your head around it, think of it without the zeros, think of it as a way to take a single one dollar bill and have it magically turn into a one hundred dollar bill in a year’s time. Would you do it? Would you take it? Of course you would.

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Well, this isn’t magic and it’s not some get rich quick overnight trick. This is the reality. This is my reality and the reality for hundreds of other students inside the course. Most people are too busy to show you their success formulas but I’m happy to share. I’m going to show you step by step how to do it yourself and make it yours with the help of what you’ve already learned inside Dropship Lifestyle.

ÉTAPE PAR ÉTAPE COMMENT DÉMARRER VOTRE SUCCÈS DE MAGASIN EN LIGNE… À PARTIR DE SCRATCH

Your First Dollar

Most people overestimate how easily it is earn your first dollar online and underestimate how much money than can make over time.

The way any business works, whether it be a pizza restaurant or a retail store is the fact that the first customer is always the hardest to find.

When I first started my dropshipping store it took me exactly two months before I made a single penny. It was hard to get up every morning and put 6-8 hours of work in on my store without knowing if it would ever amount to anything.

But the good news is, if you can get over the hump and earn your first dollar, you can scale it from there. If you can make $1,000 a month online, you can scale that into $100,000 a year and in this post, I’m going to show you how.

Go out there and earn your first dollar online, you’ll be happy you did, here’s how to do it.

How much money can I make dropshipping?

Investing in Yourself

The very first thing you should do when starting your own business is investing in yourself and in the tools required to get the job done.

The $1,000 Macbook Air I bought over three years ago has given me the tool to build my dropshipping stores, update my blog, and even record and edit podcasts all of which help contribute to me making over $100,000 a year.

The $1,000 I spent taking the Dropship Lifestyle course gave me the skills and knowledge to build stores worth over $100,000 as I’d average $2,000-$5,000 a month in profit per store.

The $1,000 in books I’ve read over the years has expanded my mind and given me to confidence to go from making $600 a month to making well over $100,000 a year currently.

The $1,000 in Shopify hosting I’ve paid over the year at $79 per month x 12 months has given me the platform to make well over $100,000 a year in sales for my dropshipping store.

How much money can I make dropshipping?

How to Scale

If you’re already making $1,000 a month profit from your drop shipping store, it’s easy to transform that into six figures a year.

Doing the math you might think $1,000 x 12 = $12,000 which is a far stretch from the six-figure mark.

So what’s the deal? What’s the trick?

Before I tell you, if you’re not already making at least $1k a month in profit. Scroll back up and read “The First Dollar” and “Invest in Yourself” again.

The harsh truth is, if you can’t even make $1,000 how can you expect to make 100X that amount?

Stop reading this right now and go take action.

ÉTAPE PAR ÉTAPE COMMENT DÉMARRER VOTRE SUCCÈS DE MAGASIN EN LIGNE… À PARTIR DE SCRATCH

I wrote this post when I first started making $1,000 a month following Anton’s course. I went from having less than $1,000 in my bank account to building the foundation to scale it into six figures.

When I first joined Dropship Lifestyle, I had a total net worth of less than $1,000 and now just in my checkings account alone, I have over $100,000.

How much money can I make dropshipping?

The Six Figure Formula

Now that you have the basis and since you’re reading this on the Dropship Lifestyle blog, I’m going to assume you have a dropshipping store built with Anton’s method that makes over $1,000 a month in profit.

Here’s how to scale that from $12,000 a year to six figures:

  1. Optimize your Conversion rates: Increasing your conversion rates from 1% to 2% doesn’t just double your profit, it actually increases it by 300% as you’re still paying the same amount for advertising. Check out the course I created called Optimize Like a Boss for step by step instructions on how to increase your conversion rates. This alone can bring your store from $1,000 a month in profit to $2,000 which is $24,000 a year.
  2. Scale your Store: How that your site is optimized it’s time to add more suppliers, products, and increase your ad budget. Whenever someone asks what my ad budget is, I tell them as much as possible while being profitable! If you currently have 100 products selling at a 2% conversion rate and $300 a month ad budget, aim to keep your conversions at the same rate while adding more products and increasing your ad budget. This can potentially double or even triple your sales bringing your store up to $36,000 a year.
  3. Rinse and Repeat: Once you’ve grown your store to it’s maximum potential, it’s time to start another store following the same formulas. If you start a sister store like Anton suggests in the course, you can potentially increase your income by another 10-20% just from referrals. But the real reason to start a second store is so you can sell your first one! Once your store has gotten 12 months of sales, can sell it for 20-30X monthly profit. I recently sold one of my dropshipping stores for $60,000 following this same formula. In the video below I explain exactly how I did it.

Damien Defranco

Damien Defranco, Entrepreneur en série, capital de risque, consultant et mentor

Répondu il y a 37w · L'auteur dispose de réponses 1.2k et de vues de réponses 2.7m

Réponse d'origine: What's the likelihood of making money from dropshipping?

For most people, it’s almost 0%.

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The reason for this is that people get into dropshipping and completely underestimate what is truly involved in running a dropshipping business.

If every single person getting into Dropshipping was provided proper accurate information on what it takes to succeed, then everyone would have better chances of succeeding.

This is why I offer free mentoring, and paid coaching services in the field. For people who are truly committed and are willing to do what it takes to thrive in this business model.

A lot of online fake guru’s only mention the positives, they teach dropshipping but leave out the hardships.

Dropshipping is like any other business, it’s hard. Hardest thing you’ll ever do is running a business and trying to succeed.

8/10 businesses fail in the first couple months, only 3% last longer than 5 years. Dropshipping in itself - that category only 1/30 will survive and be massively profitable after 6 months. 2–3/30 will break even, and the rest will all fail. This is largely due to to people underestimating what is involved.

If you go into it blind without researching, without proper resources, then the likely hood of succeeding and making money from dropshipping is almost zero.

If you prepare yourself, get coaching from someone who’s succeeded before, and if you are willing to put in 70–80 hours a week minimum, you stand a chance.

When you sell on ebay/amazon, you are competing by price. The market is so flooded on shared marketplaces that most sellers make under 0.5% profit margins. Useless, completely saturated. I’d stay away.

When you sell on your own shopify website, you need to create ‘perceived value’. You are your own brand, if you can get traffic to your store, you can make a lot of money. 99% of people can’t market a store if their life depended on it.

Part one is to ensure your site is top notch, perfect pictures, perfect descriptions, amazing processing, shipping and return policies. Always have a guarantee that is buyer friendly. Create the best buying experience. Replying to all customers, amazing customer service, even on social media.

Part two is the advertising and marketing grind. Blog every day, email marketing 2–3 times a week. Social media posting on Facebook, Twitter, Pinterest, and Instagram several times a day. Every day, consistently. Offer value to your customers and build up a following. 80% of your day is spent doing this. 6–10 hours a day into creating content.

Part three is paid advertising like Instagram and Youtube influencer marketing, and paid Facebook Ads.

Part four is putting in the hours, work consistently. Work hard. Work smart. Always learn. Be prepared to work 70–80 hours a week minimum. Put family and friends on a backburner. Dedicate your life and be all-in to making the business work. You’ll fail, when you do, get back up and do it again, never give up. Failing is the best way of learning and bettering yourself.

99% of people getting into dropshipping DOESN’T DO all four parts I mention. This is why they fail (and give up), this is why they don’t make money. This is why I got into coaching for dropshipping years ago. The 1% who are willing to learn, willing to put in are the ones who truly understand what dropshipping is and make money.

There is a lot of hype in the last couple years online, especially on social media about how easy dropshipping is, how easy it is to make money. How easy it is to grow a business. 99% of this content is false. 99% of the guru’s preaching have never had a successful store. Or they got lucky once. They couldn’t repeat the success so they turn to selling content to others. And people buy into it.

Reality is - it’s hard. Hardest thing you’ll ever do.

But it can be done. I coach people every day and they grow, they make mistakes, learn and grow. I teach them to avoid mistakes I first learned when I got into it 10 years ago. Some of my students even surpassed me and make millions.

Dropshipping still works, it’s still viable. But not when the Entrepreneur underestimates what’s involved.

Damien Defranco


Question originale: What's the likelihood of making money from dropshipping?

Sam Samuelson

Sam Samuelson, Communication Manager at HASL13 (2016-present)

Répondu il y a 2w · L'auteur dispose de réponses 347 et de vues de réponses 301.8k

Before we start, I think it will be useful if you read some successful stories like “How Phil Made $506,777 Online Using Shopify In 9 Months!" to see how other people have found their way of dropshipping. So, what is dropshipping?

Dropshipping is a retail fulfillment method where a store doesn't keep the products it sells in stock. Instead, when a store sells a product, it purchases the item from a third party and has it shipped directly to the customer. As a result, the merchant never sees or handles the product.

How much money can I make dropshipping?

Estimates vary. But industry watchers have found that between 20 percent to 30 percent of online retailers use drop shipping. So it's a proven business model, and you’ll be in good company if you go this route. Even big retailers like Amazon use drop shipping.

With drop shipping, you can sell just about any product in any niche. And the best part is you don't have to deal with the hassles of traditional businesses, such as:

  • Storing your products
  • Packaging or shipping any products
  • Most importantly is that you don’t have to put down your money upfront to buy products wholesale to resell.1

Dropshipping puts no limits on your profits

Each and every particular dropshipping store owner has a dramatically different level of income. Still, there is a striking similarity: all the owners are not constrained by any ‘requirements’ or ‘limits’ on amount of conducted sales, pricing markup, overall revenue, etc. Whatever the income amount is, it’s all yours. That’s exactly the thing that makes you highly motivated to keep developing the store, and aim higher.

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Additionally, here is a great cours which will certainly help you grow your dropshipping store.

Notes de bas de page

1 How to Make Money With an Online Drop Shipping Business

István Kovács

István Kovács, Spécialiste passionné du commerce électronique et de l'analyse du commerce électronique

Répondu il y a 23w · L'auteur dispose de réponses 85 et de vues de réponses 17.8k

Réponse d'origine: How much money can I make dropshipping on Shopify?

How much you earn is depending on your marketing performance and what marketing channels are the best performing for your sales revenue.

A lot of people launch a store, upload products and start advertising it without thinking about their return on investment (ROI) and they end up putting money on marketing channels that do not convert.

For example you are spending ads on Facebook & Adwords however only the Facebook ones are converting. At that moment you need to cut your Adwords ads because it is not making any sales for you.

I advise you to learn a lot about your marketing channels performance so you know where exactly to advertise (social channel, geo location, keyword,..)

You can understand all the data behind your Shopify store using Conversific gratuitement.

Conversific is an actionable Business Intelligence software specialized for eCommerce. Ça te donne ready-to-decide information about your site's performance. It can provide with many information related to your marketing efforts and performance.

Marketing Optimization

  1. Un certain nombre of marketing sources: It includes all of your campaign and sources where visitors can arrive at your site like Yahoo, Google, MailChimp, Facebook campaigns, etc.
  2. The number of traffic is the main category of the marketing sources. Organic is included google, yahoo bing, PPC included Adwords, FB, etc.The amount of traffic is majorly driven by marketing sources like google, bing, PPC with included Adwords, Facebook, etc.
  3. New visitors in chosen period
  4. Returning visitors in chosen period

Conversific not just shows you the information but includes a “What You Can Do” sections with actionable steps you can take to improve your store right on the go.

This hack will get you more sales in your store, you can trust my answer.

Rūta Ganusauskaitė

Rūta Ganusauskaitė, Community Manager chez Oberlo (2017-present)

Répondu il y a 66w

Réponse d'origine: How much money can I make through dropshipping in a month?

Be it a ten bucks or a million - it all depends on your effort. So, it’s hard to give an answer.

I’d tweak your question to “What should I focus on to make a fortune in a month?” And this one I am happy to answer!

The top 3 skills that I find essential to build a successful dropshipping business:

  1. Marketing

    Marketing skills are the lifeline for dropshipping businesses.

    The first and most important step is finding a profitable niche market that your product will serve. It then all comes down to how well you reach that audience and communicate the benefits of your product. You must devote time on researching your target customer, their needs, the places they hang out at and then tailor your marketing tactics to these findings. Whether it’s email marketing, Facebook ads, Instagram Influencers - it all requires a considerable amount of time spent on research. The more time you spend mastering your marketing, the more $$ you’ll make.

    What I love about marketing in dropshipping is that you can learn by doing. If one tactic does not work out, you can always switch to another without considerable investment. This actually brings me to another key skill - determination.

  2. Détermination

    I doubt there are any dropshippers who made a million within their first try. Most of them have learnt by doing - if a strategy does not live up to their expectations, they give up on it and start building another project. It might be the niche selection or your marketing strategy that fails to give fruitful results, but that shouldn’t hold you back from starting over again.

    So détermination is essential. There’ll be obstacles and challenges while running a successful dropshipping business, so be ready to handle them! And don’t let small mistakes make you give up.

  3. Service client

    The quality of your customer support will have direct effects on your the success of your dropshipping business.

    Your customers will be approaching you before, during and after their purchase. You must be there for them at all times to build a relationship. Once you establish a strong connection, they’ll keep coming back.

    Your customer is a good knowledge resource too. They often have suggestions (or complaints) that make you improve. A happy customer will also tell their friends and family about your store. Cherish that relationship!

    Master these skills and you’ll be making a fortune in a month!

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