How Much Money Do I Need to Start Dropshipping?

If you’re eager to start life as an entrepreneur, dropshipping is a great way to start. It will allow you to test the waters of running a business by yourself. As you may know, dropshipping is a very low-risk business model. That means you won’t need much money to get started, and you won’t lose much if you fail.

You may ask yourself, “Exactly how much money do I need to start dropshipping?” If this sounds like you, then you’ve come to the right place.

That’s the question that we’ll aim to answer in this article. By the end, you’ll know how much you’ll need to save in order to get started. Read on to dive into the specifics.

Understanding Dropshipping

If you aren’t familiar with the dropshipping business model, here’s a brief breakdown:

With dropshipping, you don’t manage the inventory that you sell. Instead, a third-party supplier holds the products for you. Whenever you place an order, they will ship the product to the customer. As a seller, you only have to set up an online store and market your products.

That’s why dropshipping is so popular with new business owners. There are no costs for ordering products, setting up a warehouse, and shipping. As you can imagine, those costs can run into the thousands.

The dropshipping business model saves you the hassle of having to raise funds or take out a loan.

Instead, you can start selling products straight away. For this guide, we’ll focus on using Shopify and Spocket to set up a dropshipping business.

Using Shopify to Create an Online Store

The first thing you’ll need is an e-commerce store. It’s where you’ll promote your products to customers, take orders, and process payments.

One of the most popular e-commerce platforms available today is Shopify.

For an affordable monthly fee, users can create brilliant storefronts with unique:

Themes

Logos

Color schemes

Product images and carousels

Not only that, but Shopify has a myriad of other valuable features and tools. You’ll enjoy free hosting, SSL certificates, payment gateways, and more. Shopify has risen in popularity due to its affordability and user-friendliness.

Even if you lack any technical experience, Shopify’s website builder makes it effortless to create a page. The Shopify admin and dashboard will walk you through the entire process.

So how much does it cost?

The Shopify Basic Plan runs at $29 per month with monthly payments. If you choose an annual plan, it drops to $26.10 per month. If you know you’ll use your store for a while, you can select a biannual plan which comes to $23.20 per month. If you’re new to Shopify, though, we highly recommend going with the free trial.

Shopify’s Free 14-Day Trial

Shopify offers a completely free 14-day trial for new users. Unlike other free trials with limited features, you gain full access to the platform.

By using the free trial, you can set up an online store without entering any payment information.

You won’t need to enter a credit card number until the very end of your trial. During the 14 days, you have more than enough time to set up a store and try it out.

That means you can enjoy a totally free e-commerce store to experiment with for 14 days. As a budding entrepreneur experimenting with dropshipping, this is excellent news.

You can try your hand at attracting customers on Shopify at no risk to you at all.

If you find a handful of customers and even make a few sales by the end of your trial, the Basic Plan is a must. It’s a very cost-effective way to operate an online store. At less than $30 a month, you gain all the tools you need to start an online business. To start your free trial you can follow this link to go to Shopify.

To fully answer the question, “How much money do I need to start dropshipping,” we need to talk about Spocket. You see, Shopify by itself doesn’t have any dropshipping capabilities. For that, you’ll need to download a third-party app. We recommend going with Spocket, and here’s why.

Using Spocket for Dropshipping on Shopify

Once you customize your Shopify store the way you like it, it’s time to head to the app store. Shopify has a built-in app store where third-party developers create all sorts of apps. These applications will streamline processes and add new capabilities to your page.

For example, Spocket is an app you can download to enable dropshipping on your page.

There are many reasons why we recommend Spocket as your dropshipping app of choice. Here are a few of the benefits you’ll enjoy from Spocket:

Highly discounted products for dropshipping

Suppliers from the US, EU, Canada, and the rest of the world

24/7 chat support

Auto-updating inventory

Sample orders

Lightning-fast shipping times

Quick shipping is crucial for any dropshipping business. Luckily, Spocket has some of the fastest shipping times around. The app will update your inventory so that you never sell products that are out of stock.

Spocket’s 14-Day Free Trial

There’s more good news, Spocket also has a 14-day trial. When you combine it with Shopify’s free trial, you can try out dropshipping for 14 days without paying a dime.

That’s right; you can technically get started dropshipping for $0.

So if you want to try out dropshipping for yourself, using both free trials is a must. They will allow you to try out the dropshipping business model for two weeks at no risk to you. To start dropshipping using Spocket, start your free trial by following this link.