$100K Dropshipping Story (Long Read)

[Crazycam727]

l mentioned my net profit above.

 

[Namelus999]

Thanks for the contribution. congrats on all your success, you really motivated me to take a wack at this.

 

[Namelus999]

I was just wondering how much search volume were you looking for on your keywords. I know you said something about 100k but is that like a hard rule for you or is it okay for it to be in the 10s of thousands. I think I have a product that I'd like to give a shot actually I think I have a couple going to start building the sites now.

 

[Nash33d]

How would you dropship 1 by 1 item from alibaba cconsidering MOQ and shipping rates?

I have this exact same question

 

[PBNSurprise]

thanks for this value you thread OP, sent you a pm

good luck with your ventures

 

[bppo]

Very informative thread, thank you for sharing - lots of valuable information.

I have a few questions/thoughts about money/taxes - where do you keep your money?
If you have multiple stores running - do you have one Paypal account connected to all of these?
And if you decide to withdraw money from Paypal to your private bank account - do you just make a regular withdrawal?

I'm assuming the IRS may have some questions, if a person who is not working full time, gets thousands of pounds paid to his bank account every so often. Have you had problems like this?

 

[JoeWP]

Thanks for the contribution.

I have some questions
1 - What is multi currency bank account? Could you tell me which bank is this? Can I open the account remotely?
2 - I also do not live in the USA, what are the difficulties encountered to receive payments for sales made in the USA?
3 - Would you have any other difficulties you encountered because you did not live in the USA and would you like to share?

Good luck with your ventures

 

[Crazycam727]

Very informative thread, thank you for sharing - lots of valuable information.

I have a few questions/thoughts about money/taxes - where do you keep your money?
If you have multiple stores running - do you have one Paypal account connected to all of these?
And if you decide to withdraw money from Paypal to your private bank account - do you just make a regular withdrawal?

I'm assuming the IRS may have some questions, if a person who is not working full time, gets thousands of pounds paid to his bank account every so often. Have you had problems like this?

Sorry if I don’t answer all of them, i’m pretty tired right now . I have a US LLC in wyoming , and a bank account to go along with it now. So that solves most of my US banking problems.

different stripe account for each business. But all under same LLC.

I have actually had my bank accounts frozen many times , so be prepared for that. they just gotta do some
checks. But yeah - that’s the biggest hurdle.

 

[PBNSurprise]

i'm trying the method right now, currently searching for products. it is hard to find a solid product i admit

 

[Crazycam727]

i'm trying the method right now, currently searching for products. it is hard to find a solid product i admit

It is very time consuming. But it does work

 

[PBNSurprise]

It is very time consuming. But it does work

yeah, i spent hours yesterday just going through pages of products on cj dropship, alibaba, and a little bit of aliexpress

haven't found anything that i felt very sure i could come in and clean up with. either the margins were not enough or the product is already dominated by a known brand

it seems the method is to find a product and literally go all in on it in terms of branding. gonna continue to sift through more products today

 

[PBNSurprise]

this method works, but it can be hard to scale. you can only really bid on long tail keywords to avoid wasting a lot of money and barely getting conversions, most long tail kaywords see little traffic

from from experience, the beginning is working with a small amount of website visits daily, like 50-100, and making 1 or 2 conversions. my shopping ads unfortunately cannot spend, only like $6 after 3 days, i've tried making the title and description more relevant. from what i understand, that's really all you can change for the shopping campaigns to try and reach more people. besides increasing bid or budget

so yeah, my shopping campaigns are barely spending and my search campaigns are slightly below break even right now. i've made sales, it's just kind of sporadic, i think added more long term keywords so hopefully i can get more conversions

 

[Crazycam727]

Shopping ngl

this method works, but it can be hard to scale. you can only really bid on long tail keywords to avoid wasting a lot of money and barely getting conversions, most long tail kaywords see little traffic

from from experience, the beginning is working with a small amount of website visits daily, like 50-100, and making 1 or 2 conversions. my shopping ads unfortunately cannot spend, only like $6 after 3 days, i've tried making the title and description more relevant. from what i understand, that's really all you can change for the shopping campaigns to try and reach more people. besides increasing bid or budget

so yeah, my shopping campaigns are barely spending and my search campaigns are slightly below break even right now. i've made sales, it's just kind of sporadic, i think added more long term keywords so hopefully i can get more conversions

Shopping campaigns take 2 - 4 weeks to fully start spending

 

[PBNSurprise]

Shopping ngl


Shopping campaigns take 2 - 4 weeks to fully start spending

are you still profiting?

i'm not sure what to expect really, my conversion rate is around 2% and i'm slightly below break even after $250 ad spend

i started off hot, got like 4 sales the first day. then after that the conversion has just been bad. i'm not sure if my product is just low demand or if this is just how it's suppose to be. i added 4 new single keyword ad groups, i have 11 total now. i'm playing around with price to see if that's causing the problems

just so confused, like does my product suck, or this is just how it's suppose to be and it takes time?

 

[Matta28]

Quick question,

If I got a store with for example 30-50 products, how would you market it on Facebook ads? Make on ad of the most promising product or?

 

[GringoMonkey]

are you still profiting?

i'm not sure what to expect really, my conversion rate is around 2% and i'm slightly below break even after $250 ad spend

i started off hot, got like 4 sales the first day. then after that the conversion has just been bad. i'm not sure if my product is just low demand or if this is just how it's suppose to be. i added 4 new single keyword ad groups, i have 11 total now. i'm playing around with price to see if that's causing the problems

just so confused, like does my product suck, or this is just how it's suppose to be and it takes time?

The course the op follows, Charlie brandts, is similar to how i started out using google years ago. There is a system learning curve, but at 2% profit it is probably your product / margins.

The weak point of the course is actually how the op selects products. So if you followed that it is not suprising your struggling. If you check out the real reviews of charlies flagship store bffwear, they are crap. Perhaps that is why he has shifted to writing courses?

But crack product selection / margins and his front end google sales system is good.

 

[Crazycam727]

The course the op follows, Charlie brandts, is similar to how i started out using google years ago. There is a system learning curve, but at 2% profit it is probably your product / margins.

The weak point of the course is actually how the op selects products. So if you followed that it is not suprising your struggling. If you check out the real reviews of charlies flagship store bffwear, they are crap. Perhaps that is why he has shifted to writing courses?

But crack product selection / margins and his front end google sales system is good.

Yep. Product research is still the hardest thing for me. Whilst I do stand by my method , I’ll admit it is VERY time consuming and there are definitely more efficient ones out there that I would be willing to learn.

 

[GringoMonkey]

Yep. Product research is still the hardest thing for me. Whilst I do stand by my method , I’ll admit it is VERY time consuming and there are definitely more efficient ones out there that I would be willing to learn.

It is not just that, you are fucked on the margins in the way charles shows you.

I have a supplier who charges $4x the cost and even $2x on the postage if you go through the api on shopify. If you go direct through their website you save all that.

So suddenly a product that is not viable via the shopify api is suddenly 75% cheaper and you save 50% on shipping and it becomes very viable!

 

[PBNSurprise]

It is not just that, you are fucked on the margins in the way charles shows you.

I have a supplier who charges $4x the cost and even $2x on the postage if you go through the api on shopify. If you go direct through their website you save all that.

So suddenly a product that is not viable via the shopify api is suddenly 75% cheaper and you save 50% on shipping and it becomes very viable!

what do you suggest to look for when selecting a product? without spoiling the entire course i will say that charlie harps on finding a product with good margins as the #1 priority.. meaning, if you see most of the google shopping ads for the product are dead cheap, there really is no wiggle room. personally my product has listings anywhere from $30 up to $70 and one $120 listing...

also, charlie mentions finding the "price ceiling" for the product. meaning what is the max someone will realistically pay for the product? i've noticed for my product, there are branded products being sold for up to $120. they are private labeled though and basically accomplish the same thing. so yeah, it seems people are willing to pay $100 or more for the product as long as its presented as a premium brand that will actually solve their problems. there are obviously the cheap no name brands going at $30 but these products have low star reviews on their pages so.. it really all depends i guess

 

[Crazycam727]

It is not just that, you are fucked on the margins in the way charles shows you.

I have a supplier who charges $4x the cost and even $2x on the postage if you go through the api on shopify. If you go direct through their website you save all that.

So suddenly a product that is not viable via the shopify api is suddenly 75% cheaper and you save 50% on shipping and it becomes very viable!

That is for print on demand , no?

I’ve got products I can get a 10X margin on right now in the works