What Is Dropshipping?
Dropshipping is a fairly recent phenomenon and while people have been doing dropshipping for many years, it has recently become super accessible to the masses thanks to the new tools that make it incredibly easy to do.
In a nutshell, dropshipping is selling products from China to the United States without ever having to hold inventory yourself. Once you have sold an “item” to a customer through your online store, the order will go to your supplier in China and the supplier ships it straight to your customer.
It may sound complicated and technical, but trust me; it isn’t. For a more detailed explanation, you can see my dropshipping guide here.
Pros & Cons Of Dropshipping
- No need to invest in inventory that you’re not sure would sell.
- No need to rent out warehouse space.
- Work from anywhere you like.
- You make your own profit (the mark up on products is up to you).
- Millions of different products and niches to sell to.
- Can start making money from day one (if you know what you are doing).
- Truly unlimited potential.
- Does require quite a bit of start-up capital to launch your store & run Facebook Ads.
What Do You Need To Start DropShipping?
All you need to start a dropshipping business is a niche (products) and a Shopify Store (this costs around $29 per month). Once you have these things set up, all you need to do is find the products that you want to sell;
Where Can You Find Products To DropShip?
You can drop ship anything from anywhere, but the common practice is using AliExpress.com to find products. I highly suggest you use AliExpress as this can be linked with your Shopify (via the Oberlo app) and then all orders will be done automatically.
How Much Money Can You Make Dropshipping?
There really is no limit to how much you can make dropshipping. This is because unlike affiliate marketing; you decide on what the markup should be. Once you have that, you just need to promote your store to potential customers using the many different traffic sources available. Many choose to use Facebook Ads as this can scale really quickly (more on this down below) and you can start making money from day one.
Is Dropshipping Legal?
I’m not quite sure why some people think that dropshipping is illegal but it isn’t. It’s very much legal to do.
The Best Way To Learn Dropshipping
I learned about dropshipping from one of my favorite “online mentors” Franklin Hatchett. Luckily for me, I stumbled across his Ecom Elites training course which is where he explains everything you need to know and it’s thanks to it that I now make $3,000 to $4,000 a month dropshipping.
Dropshipping Tools & Resources
Shopify: As I said, to be able to do dropshipping with ease, your best option is to create a Shopify store. This will be your “online store” and you will be listing the products you want to sell on this store and driving traffic to it with the hopes of making sales. You can see how to get started with Shopify here.
Oberlo: Oberlo is a free plugin that will automate 95% of your dropshipping duties. What’s great about this is that this is a free plugin that is provided on the Shopify apps store and it’s a must to have. Personally, I would not be able to run my dropshipping business without it. I’m actually astonished how this tool is offered for free as even a $100 price tag for it will be justified.
AliExpress: Again; there are many ways to do dropshippign but the best, fastest, cheapest and easiest way to do it is by having Shopify, Oberlo and AliExpress. AliExpress is the “Amazon” of Asia and on there you will find millions of “cheap” products which you can seel with a decent markup to US/European customers.
Facebook Ads: This is not really a must to have and do, but it certainly helps you get visitors and customers to your store. If you are going to take this approach (which you should), I would highly suggest you get some training on the topic and see how it can be put to use to make you money. Facebook Ads can get pretty expensive pretty quickly if you’re not careful so; before you go blow your Ad budget, I suggest you take a look at the Frankin Hatchett course mentioned above to learn how to run Facebook Ads successfully.
My Top Dropshipping Guides
- Dropshipping in 2020: Can You Still Make Money?
- DropShipping vs Affiliate Marketing: Which One Is Better?
- How to Dropship Custom Shirts With Print On Demand
- Drop Shipping With Just One Product (A Good Idea?)
- Can You Get Rich With Drop Shipping?
- What Is Shopify Drop Shipping? A Shopify Tutorial For Beginners
- 4 Ways To Promote Your Drop Shipping Store ($2,177.04 in One Month)