#1 How to make money online with dropshipping
I remember back when I was working my 9-5, everybody was talking about making money online. It seemed the best way to really enjoy your life. For some, it was traveling and others doing more of what they love but all in a common goal of making passive income. However, when trying to find a legitimate way to make money online, I ended up watching lengthy youtube videos explaining how this guy made 1000$ in 1 night or how I can make money filling out surveys. Not a really good start. But there is a legitimate way to do it and it’s DROPSHIPPING.
The dropshipping model in 3 simple steps
The concept is really simple but clever. In a dropshipping business, you don’t have a warehouse and neither a stock! You deal with a supplier who will ship the order for you as soon as you get one on your website. It’s really an easy way to get started online because, the only thing you’ll have to care about will be to bring customers to your site and your supplier will do the rest.
We can easily say that you are the middleman!
5 pros of having a dropshipping business
Easy to start
The essential elements you’ll need to start your drop shipping journey is a website, a supplier and a product to sell. That’s it! If you have these three elements you’re ready to start.
Almost 0$ investment required
Since you don’t own any stock and you don’t need to need to purchase inventory, your cost is close to nothing. Indeed, the only cost you’ll have will be hosting and creating your website.
Majority of the time you’ll even have more money! The reason is that you’ll receive money first from your customer then you’ll have to place the order with your supplier.
Because your business is online with no office, no warehouse, and no employees, you can work from anywhere. As long as you have your computer and an internet connection, you are free to travel or live anywhere while working!
It’s for me the best pros of having a dropshipping business because you don’t have a warehouse or a stock you can add more products to your site in just minutes and see your profit increase. While in a traditional business you’ll have to plan the space in the warehouse or hire more staff because of the increased workload, with a dropshipping business you transfer all those risks to your supplier!
There is a lower risk when drop shipping
Since you don’t purchase the inventory and don’t have a warehouse, if you don’t make any sale with your business, you didn’t lose any money.
2 cons of having a dropshipping business
Like everything, there is, unfortunately, some cons of having a dropshipping business and I want you to be aware of them before we start creating your first dropshipping business.
With a dropshipping business, your success relies on the profit margin you’ll make by selling your supplier product at a retail price to your customer. So to create a profitable dropshipping business, you should be able to generate enough profit from each sale, however, if you can bring enough sale to a supplier you will get a 15% discount. This is something you’ll have to discuss with your supplier.
However, this could not be a problem if you find a profitable product.
A good supplier is a key to a successful dropshipping business. Since they will handle the majority of the deal such as sending the right product within a reasonable timeframe. Your supplier will determine the reputation of your store. Because for the client YOU are shipping the product. If a supplier fails multiple times to ship the right product YOU’LL end up with the bad reputation.
In conclusion, as in every business, there are pros and cons but in a world where people are constantly online and tend to buy more on websites, it’s a chance to take and done well your dropshipping business could let you do more of what you love!
Hey if you like this first episode, don’t hesitate to share it with someone who would like to do more of what they love.
The task of today is to let me know at the bottom why you would like to create a dropshipping business. It could be ANYTHING but I want to know you a little bit more to make sure we are on the right path!
Let’s unleash your passion!