$100K Dropshipping Story (Long Read)

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@Crazycam727
Regarding you using meme pages/profiles for promoting on Instagram, isn't it true that most of the meme pages have teen audience who are mostly casual surfers rather than being buyers.
 
kumbhak11 said:
@Crazycam727
Regarding you using meme pages/profiles for promoting on Instagram, isn't it true that most of the meme pages have teen audience who are mostly casual surfers rather than being buyers.
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This is true, but it depends on the product you offer and their rates to make it worth your while or not
 
hippo123 said:
This is totally a not useful answer at all.
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If i’m going for hyper targeted traffic , I would target more than 2. E.g “blue thick dog collar “ will likely have a highe cvr than “dog collar” if it’s exactly what i’m selling
 
I've been lurking on your responses since the last post you made. You are truly amazing for both your initiative to secure the bag (get money) and helping the community by sharing your experience.

Question: In the case where someone has picked out:
  1. A niche
  2. A proven product (I know you said no such thing as "winning product" but still XD
  3. And the marketing/ supplier sorted out
What should I be looking out for? I'm not a pessimist but I'd like to know if there are any bumps that can occur even at that stage that you can think of. Thank you!
 
Aztec Silver said:
I've been lurking on your responses since the last post you made. You are truly amazing for both your initiative to secure the bag (get money) and helping the community by sharing your experience.

Question: In the case where someone has picked out:
  1. A niche
  2. A proven product (I know you said no such thing as "winning product" but still XD
  3. And the marketing/ supplier sorted out
What should I be looking out for? I'm not a pessimist but I'd like to know if there are any bumps that can occur even at that stage that you can think of. Thank you!
Click to expand...

So assuming you’re already making some sales, a big problem at scale is actually payment processor shut downs or holds (I use stripe)

The way to get around this is to ask your supplier to make an invoice for a bulk order, but don’t actually order it. As Stripe often ask for such things when you scale over 500 a day.

Another thing would be of course get your customer service on point - i use onlinejobs.ph for mine. This is to prevent chargebacks in the early stages - as a dispute ratio of over 1% = merchant account shutdown.

As you can imagine, if you get 10 sales , then get one chargeback , you’re screwed before you even start - so you wanna avoid that from happening :)

Hope that answered your question - pm me if it didn’t and i’ll get back to you
 
A very inspirational and detailed journey!
After reading this, I'm thinking off publishing my story in this kind of format as well - or maybe to open a journey of my current store (as I despise Dropshipping after selling my successful store).

As far as Influencers are concerned, why did you go after the follower/comment ratio? There are lots of other metrics to look out for, but why exactly the comment ratio? Especially with the botting community, I find comments, due to the small amount (relatively to the likes), an inaccurate representation of the activity. Likes are more often than not a more precise measure of the influencer's activity.
 
Thank you for the support, I also hold inventory as of right now too - china drop shipping is really not as viable anymore. :)

I would give you a concrete answer as to why I chose those metrics for instagram influencers, but at that time I wasn’t that experienced with the whole thing, however I should clarify that I did scan over pages to make sure the botting wasn’t that strong :)

Can I ask where did you sell your store? Was it on the shopify exchange? My shopify payments got disabled a while back some i’m looking at other options to exit in the future. Flippa and Empire builders have been recommender to me. Thanks
 
Crazycam727 said:
Thank you for the support, I also hold inventory as of right now too - china drop shipping is really not as viable anymore. :)

I would give you a concrete answer as to why I chose those metrics for instagram influencers, but at that time I wasn’t that experienced with the whole thing, however I should clarify that I did scan over pages to make sure the botting wasn’t that strong :)

Can I ask where did you sell your store? Was it on the shopify exchange? My shopify payments got disabled a while back some i’m looking at other options to exit in the future. Flippa and Empire builders have been recommender to me. Thanks
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I got a private offer from an investor via my support e-mail one day. I didn't take it for serious, but upon a couple of exchanged mails we agreed to meet in real life to discuss further details.
It was my first "real" business deal (as far as meeting is concerned). After travelling, I think it were over four hour, via train to our meeting we had a dinner. I brought my Dad with me as it felt sketchy meeting with someone you don't know to discuss this big of a deal. We basically exchanged some basic information like how I started the shop, what my Social Media strategy is and so forth - especially "calm", I expected more of a business-savy environment where I need to hold a pitch in front of a big committee or something alike.

Surprisingly we got on very well and over the course of a few weeks we got the offer, contract and other business-related aspects done; Got the contract approved/supervised by a notary and the deal was as good as completed.

Quite frankly, as you mentioned Shopify Exchange, etc.: My main goal wasn't to sell. Sure, at the time I had some problems with my supplier, but nothing I couldn't fix. Moreover, I didn't expect anyone to really invest that big of a sum into a "digital store" which could fail any day, but I suppose he/they saw potential and scale-potential, thus being interested and purchasing! :)
 
After reading your success story I have couple of question in mind.

1. What is multi currency bank account? can you elaborate this what for with any example.
2. Do you recommend 1 Product per store or theme of products per store?
3. Are you mentioning your earnings excluding all the expenses Like ads, domains, app subscription etc?

I don't want you to answer all the things. You can answer any of the above questions.
And I will be very thankful to you!
 
A multi currency account allows you to hold multiple currencies in one bank account. So that you don’t get hit with conversion fees.

I market only to the US, but I am based in the U.K, so it’s easier for me to just deal with $ all the time.

1 product stores are easier to manage.

Profit includes everything apart from
the monthly fees, but these are minuscule in comparison.
 
Great journey! Its very inspiring and Im gonna have to try this myself. Thanks for sharing
 
Crazycam727 said:
1 product stores are easier to manage.
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One product as far as "only one product" or different colors and sizes as well?
E.g. dog toys: It's a bone chewing toy - just this one or maybe in different sizes, accessorizes, etc.?
 
Great journey man! Definitely inspiring & I’m going to try to utilize some of your advice for opening my own store.
 
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