Hello! In today’s blog, we will be discussing Dropshipping. We will talk about each and every aspect and what Dropshipping is all about?. So let’s start.
What is Dropshipping?
Dropshipping is the type of business, in which you have to set up an online store on Shopify, and then you have to list the products of your niche on their retail price and then when a customer buys the product.
Now all you have to do is just purchase the product in Alibaba at its wholesale price and the wholesaler will directly ship it to your customer.
Profit on Dropshipping:
When we talk about profit margins the average profit margin on Dropshipping is 15% to 20%.
I know you all will think that it is a very low-profit margin but there are dropshippers who are making $100,000 dollars profit per month by their right business strategy, niche and products supplier.
Most people choose Dropshipping because it is a business model in which there is very low risk.
What you have to keep in mind before starting Dropshipping?
1) The main thing that you have to keep in your mind is you have to make a commitment in your mind and just stick with it.
You have to invest a big amount of time and money both if you want to earn in 6 figures, you cannot earn 6 figures by just working 15 to 20 hours per week.
In the initial stages, you have to invest very much time.
2) The next thing you have to keep in your mind is choosing a profitable niche and seriously it matters very much because if you want to 6 figures you have to choose a highly profitable niche.
3) Choose your domain name carefully because if you don’t choose the right domain in the future you have to face a lot of problems. Choose the domain according to your niche.
4) It’s very important to select a good and trustworthy supplier for your store because if you don’t research in finding a good supplier then you maybe have to pay a lot of money more so keep this in mind to wisely select your supplier.
5) The last thing is you have to choose the correct platform to start your Dropshipping business there are many platforms but the best is Shopify. Shopify is probably the biggest Dropshipping platform, many sellers that are earning in 6 figures have established their business through Shopify.
So this is our blog about Dropshipping.