In recent years, there’s been no shortage of buzz around dropshipping. You don’t have to venture too far online to find a YouTube ad or blog post about dropshipping. If you’re a budding entrepreneur, then the chances are you’ve been thinking about it.
Yet, it’s normal to have reservations about going into something so new.
Is dropshipping worth it?
Dropshipping Is a low-risk business model that can yield serious profits when done right. Almost anyone can get started dropshipping without putting down much money. With the right products and third-party suppliers, dropshipping can be very profitable.
So if you want to learn more about why dropshipping can be profitable, stay tuned. We’re here to clue you in on why dropshipping is still worth it and how you can get started.
An Introduction to Dropshipping
If you’re unfamiliar with what dropshipping is, here’s a simple definition:
- Dropshipping is an online business model where you sell products from a third-party supplier. They handle all the shipping and inventory, and you manage your store and market the products.
It’s an attractive business model for entrepreneurs because it’s so low-risk. Since a third party will manage all your inventory, you don’t have to spend much money to get started.
A common barrier to entry for new business owners is how much it costs to manage inventory.
You will need a warehouse, employees, shipping carriers, and more. Not only that, but it takes a ton of time and effort to manage a warehouse. If you’re a new entrepreneur with no capital, starting a business can seem impossible.
That’s why dropshipping is such a blessing for low-level entrepreneurs.
With dropshipping, you can get started running an online store and selling products. You’ll be in charge of processing payments and attracting new customers. Your third-party supplier will ship your products and maintain your inventory.
Like anything else, it takes the right strategy to succeed with dropshipping.
Unlike what most ads will tell you, not every dropshipping business will find success. You can’t simply set up a Shopify store and hope to make a fortune with dropshipping. Instead, you’ll need to take a very calculated approach.
Finding Success with Dropshipping
If you want your dropshipping business to be profitable, then you’ll need to:
- Find the right products. A common mistake beginners make is picking any product they can find. To find success, you’ll need to sell products that customers want to buy. It would be best if you did some research on which items are selling big right now. A clever tactic is to focus on a niche and then sell products for it. An example would be selling products in the beauty and wellness niche.
- Work with the best suppliers. Not all dropshipping suppliers are created equal. It would help if you placed a lot of consideration into which supplier you choose. Try to find a supplier that has discounted products and quick shipping times. We recommend that you use the Spocket app for Shopify. It will provide you with lightning-fast shipping, discounted products, and more. If you go with a supplier that has slow shipping times, you won’t find much success.
- Market your business. A considerable advantage of dropshipping is that you don’t have to manage inventory. As a result, you’ll have a lot more time to focus on marketing. That’s excellent news, as marketing is a huge factor determining whether you fail or not. It’s essential to employ more than one marketing strategy, but we’ll talk more about this in a bit.
- Charge the correct prices. A tricky part of dropshipping is determining the right price. You may find that you have to sell a product at a higher price than you may like. You need to consider the cost of each product that you sell carefully. As a rule of thumb, do some online research first. Find your products and see what other stores are pricing them at right now. Do your best to sell yours at a little bit cheaper than your competitors if possible. That way, you can market your business as offering the lowest prices around.
Marketing Your Dropshipping Business
As stated previously, marketing is a massive component of your success. If you don’t have a huge budget to spare for your marketing, don’t worry. There are lots of ways that you can market your dropshipping business without spending too much money. Here are a few simple ideas:
- Facebook groups. If you’re selling products for a hobby or a niche, Facebook Groups are perfect. You can join a group related to your niche and then market your products there. It’s a good idea to stay away from hard-sell tactics. Instead, network with the users and get to know them first. That will show that you genuinely care about your target audience.
- Interactive social media campaigns. When using social media to advertise, try to be interactive. Come up with questionnaires, quizzes, challenges, and more.
- SEO techniques. It doesn’t take a lot to put some basic SEO tactics in place. If you do some research, you can find keywords related to your niche. Using keywords is a great way to help your page rank higher in search engine results.
Using Spocket on Shopify
Finally, we recommend using the Spocket app for dropshipping on Shopify. Why? Because it’s the absolute best app/supplier to use for dropshipping. There are thousands of suppliers around the globe that will ship your products in no time.
Not only that, but Spocket offers products at fantastic discounts. With the help of the app, you can sell your products at lower prices than the competition. You’ll also enjoy 24/7 premium support via chat when using Spocket.
Its core features include:
- Lightning-fast shipping times
- The highest discounts and wholesale pricing
- Auto-updating inventory
- Sample orders to test products
- Fulfill orders with one click
- Branded invoicing
- 24/7 customer support
As you can see, Spocket offers a ton of excellent features for your Shopify store. We highly recommend using this app if you plan on starting a dropshipping business. If your interested in Spocket for dropshipping follow this link here.
Is Dropshipping Worth It? ( quick video )
Try Shopify for free.
If you are interested in Shopify and want to try it out, Shopify is offering a 14-day free trial here. The free trial is great because you get to see how Shopify works before committing to one of their monthly programs. If you decide to start the free trial, you can pick up right where you left off when you switch to the monthly plan. If you’re looking to grow or start your online business, this is an excellent opportunity to try Shopify.
Final Takeaways
So is dropshipping worth it? Absolutely. Of course, you’ll have to make sure that you have a winning strategy in place. You’ll need to sell desirable products at reasonable prices with quick shipping. If you leverage the Spocket app on Shopify, you’ll be able to offer all the above and more. If you’d be interested in our full guide we wrote on how to do dropshipping on Shopify visit this link here.
If you want to see a list of our top recommended Shopify apps visit this link here.
