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Possible to make decent money drop-shipping with only $30 to invest?

Discussion in 'Making Money' started by dyerigan1, May 22, 2017.

  1. dyerigan1

    dyerigan1 Newbie

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    Currently just working gigs that pay cash 'under the table'. I do have a bank account but next to impossible for me to get money in it thanks to it being out of state lol. But did manage to get $30 in it thanks to a kind of craigslist - cpa 'hustle' (don't hate me). Basically it's very hard for me to get money at this into my paypall/bank account due to gigs. Any ways, I have been doing ALLOT of research into drop-shipping aliexpress and shopify using targeted facebook ads. I'v already crafted a company logo, and think i know of a decent niche (though not absolute about it) quadcopter drones. Have done extensive research facebook ad targeting though still most afraid of that part. Had a few questions for the bad ass people of bhw:

    Wondering if people know if it is possible or even worth it to try with what little start up capital i have?
    Absolutely mandatory I use my startup for a .com as i'd prefer just initially use the default shopify domain?
    Curious on peoples opinion of my niche quadcopter drones.
    And lastly....Wondering if people could PM some other articles that might be more sound investvestments with my low capitol at this time (preferably not related to clickbank cus i find it quite annoying how it takes them a month to pay out lol).

    Thanks!
     
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  2. sewacuz

    sewacuz Newbie

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    I wouldn't do it with $30 because you've forgotten a fatal flaw. If you're getting paid with PayPal (or really anything other than cash) there's a very high likelihood you'll have a payment hold. Absolute best case scenario it's going to take 3-5 days to hit your bank if you had zero hold time. Thus, you can't use the money from the buyer to actually pay for the item which means $30 simply won't work. Every guide says use the money from the buyer but that's BS, in the real world that system doesn't work. You need to float the orders somewhere.

    Yes, get a .com. No one is going to buy a drone from a shopify subdomain.

    IMO good niche vs bad niche is mostly to do with the knowledge you have. Can you add value? Ex: Clutchfield speakers website, you enter your car, they tell you what fits. It adds value to the transaction. Can you do something like this with drones? If so, it's a decent niche. If you can't, forget it. If you can't add value (often times with knowledge), why would I purchase from you at a higher price and wait longer vs just going to Fry's or Best Buy?
     
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  3. luma24

    luma24 Registered Member

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    $30 Its really a small budget you can do something big you think big!
     
  4. akssiv2007

    akssiv2007 Senior Member

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    With that budget if you already have a promotion plan ready then you can surely give it a go. But I wonder how you were talking about FB ads with that budget.
    You can get your domain & hosting & setup WordPress woocommerce with free plugins to start. If you still think you can promote then you should give it a go.
     
  5. Sephrata

    Sephrata Senior Member

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    I wouldn't even consider dropshipping with less than a few thousand $$.
     
  6. Dresden

    Dresden Regular Member

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    With facebook ads you can end up burning through $30 in a matter of minutes and not make anything back.. $500 would be a good sum to start out with but even that amount might not be enough to make you 1 sale since you're just starting out. Basically if you're on a budget, I would forget about dropshipping until you have some extra cash laying around unless you're planning to use a different traffic source.
     
  7. ehinoze

    ehinoze Power Member

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    If you spend days on the ad, then you can do miracles with 30 dollars. If you trust your creativity try it. Otherwise scale you Craig's plus cpa method.
     
  8. BackY

    BackY Senior Member

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    500$ for startes are maybe even too much. What I wonder is this, does one rlly have to pay for the products from his pocket? Isn't there any other way? Let's say I have 500$ for ads, but almost NONE for buying the products the buyers buy from me. Is there any other way or that's just the most common way?
     
  9. Dresden

    Dresden Regular Member

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    You need a credit card
    You need a credit card with cash on it to purchase the products. There is no other way.
     
  10. BackY

    BackY Senior Member

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    That's what I thought damn. Good thing the amount u need to have depends on the item u are promoting.

    One more question, how long until shopify release ur fund?
     
  11. tripartist1

    tripartist1 Junior Member

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    Absolutely possible. I started a dropshipping site with almost nothing. Bought a domain, linked it to shopify with a free 60 day trial, set up the store (spent a week or so doing this to make it look great, I did buy a premium theme for $40, but this isn't required. All the photos and setup I did myself, no outsourcing) and imported my products. I then used shopifys free $200 adwords credit to set up an adwords campaign. Now at this point I may have gotten lucky, but one of the 10 or so ads I set up took off. I was making around $400 a week in sales with minimal startup, from one product. Product was about $3 selling for $15, and cost/conversion was about $4 for a margin of about 100%. Now, I already knew the product and niche would convert decent, and had a pretty good idea of the target audience already as well, so it was just a matter of setting up the KWs and bidding for them. Had I started with FB ads, I probably would've done even better, but FB wouldnt accept any of my ads for some reason (and still wont). Total cost not including the theme was maybe $25.

    As far as the topic of paying with the money from the buy, I was able to do this. I've had a paypal account since 2012, fully verified, so all of my money is immediately accessible. I also have a business account and PP Debit card, so I can dropship from places that don't accept paypal as well.