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Starting a dropshipping business, where to start?

Discussion in 'Dropshipping & Wholesale Hookups' started by Adam718, Nov 27, 2019.

  1. Adam718

    Adam718 Jr. VIP Jr. VIP

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    Hey guys,

    Dropshipping looks very attractive business and I am planning to start in the near future.
    I know how the business model works, but I am newbie at all the details, how to build e-commerce website, how to put the product listings and how to run facebook ads.

    I have a few questions, so please guys I expect your honest answers.

    1. First of all, I see so many threads, videos, posts where people claiming making $30k in sales per month or $10k, I know that profit margin is like 20%, but it's still huge numbers, 20% from $30k is about $6k profits. Is it a total bluff or is it really possible?

    2. Secondly, maybe you could recommend any course/guide/coaching/service where I could learn all the step and techniques about how to build a successful dropshipping business? Or it's better just to watch youtube videos and get all the info and help from wonderful BHW members?

    3. And the last one, how is overall realistic to make at least $2k-$3k a month in the first months starting from scratch?

    I think not only I will benefit from this thread, but also I am sure other people who also interested to start dropshipping will find this info useful.

    Thanks in advance!
     
  2. FUTUR TIM

    FUTUR TIM Jr. VIP Jr. VIP

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    1. Not a lie. I know people with 60% profit margins, depends on where you get your traffic from.
    2. Arie Scherson.
    3. Depends on you, but I wouldn't have high expectations from the start.
     
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  3. LearningForever

    LearningForever Junior Member

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    3. It depends on you: the time and money you can invest, and your luck. I had a store for more than a year now and I am not getting those numbers per month yet. Altough I can't invest too much time but already tested 30 products and spent like 3k in fb ads.

    I know people that nailed it in two months.

    Don't expect magic to happen soon. It is a path you have to build by yourself.
     
    Last edited: Nov 27, 2019
  4. Darien4

    Darien4 Newbie

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    1. Most of the videos you see are bullshits... Please note that selling courses is one of the most profitable niche right now. Check out Gabriel St Germain, he showed how much he did with his ecom website for teeth whithening in one year (almost 1M$ with 10% margin = 100k$ profits in one year) he also showed the number of how much he made the first week he released his online course (500k$ profit in one week).

    2. Don't believe that you will find a guide on how to become rich online. You should just gather as much free info as you can and always ask yourself if what you read make sense. If you have some money, spend it to try something. You will learn much more this way.

    3. With 0 experience and 0 email list, it is not realistic unless you have a very innovative idea... and innovative ideas are not things that you find out on youtube channels or online forum ;)
     
  5. Adam718

    Adam718 Jr. VIP Jr. VIP

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    1. Totally agree.
    2. Of course, I don't think and expecting a guide which would make me $100k in first month, what I am looking is the right info from the right people.

    3. Email list?

    Are you doing dropshipping yourself?
     
  6. Darien4

    Darien4 Newbie

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    2. Just spend time on forums like BHW to read what other people say.
    3. Let's say you already had multiple businesses with multiple happy customers that trusted you, and you have gathered an opt in email list of these. You can reach out to them to show your new product/brand and already get a lot of sales for free...

    I am doing ecommerce, yes..
     
  7. SEOMadHatter

    SEOMadHatter Jr. VIP Jr. VIP

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    1. That depends. I’ve seen some pretty insane margins but the kind of people getting them aren’t posting about it. Whatever you’re seeing is probably inflated.

    2. Can’t name a specific course that I genuinely think will make a difference. Look at what people are doing and spend a few grand on ads - that’s how you’ll really learn.

    3. I’d bet against it. The failure rate for this is already crazy high and most set themselves a few hundred bucks profit and lose it. You’re more likely to spend that kind of money in the first few months.

    This isn’t to demotivate you but don’t ignore the advice you’re being given in this thread. This trend towards dropshipping is because the basics are easy to understand making a course on it easy to sell. Not because there’s gold in the streets just waiting to be scooped up.
     
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  8. Adam718

    Adam718 Jr. VIP Jr. VIP

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    Yes yes I understand how email list works, but not sure how it could help for dropshipping. If I have email list in MMO niche, how could this email list be useful if I sell baby stuff?
     
  9. Darien4

    Darien4 Newbie

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    You don't get it. Let's say you have a shop for eyeliner and you launch a new shop selling skin care products. Your previous customers might be interested in this new product because it is in the same niche :)
     
  10. Adam718

    Adam718 Jr. VIP Jr. VIP

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    Yeah, but you still need to launch a shop for eyeliner (without a list) to get sales and build a list ;)
     
  11. Darien4

    Darien4 Newbie

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    Hence the fact that it is not realistic to make 2-3k profits per month by starting from scratch...
     
  12. Bluesb4midnight

    Bluesb4midnight Registered Member

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    Just dive in and do it. Have some money set aside to test ads on Facebook. Set a daily budget and test add. This is the key to finding what sells the best.
     
  13. darkblitzrc

    darkblitzrc Regular Member

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    1. It is possible and the margins can be more or less depending on where you get your product and how much you pay for your ads.

    2. The dropshipping journeys here are a good start, on youtube be careful about the gurus because they can fill your mind with dreams and you might be disappointed if you fail right away (which will most likely happen). Some of the gurus I think are great are Gabriel St Germain and also started watching Sebastian Ghiroghou or however you spell his last name (he has an excellent video which is called Dropshipping in 2019-2020)

    Dropshipping is a numbers game, you gotta test many different products until you find a winning one and try to scale it up and build a real brand off it (potentially earning millions of dollars) OR ride the wave till it dies, then the process starts all over again. Building a brand off a aliexpress product is hard because as you will come to know most of the products you find are just junk that looks nice or that solves a problem but essentially 99% of crap you see is chinese junk so building a real brand of a cheap plastic product is hard so don't expect to make a million-dollar brand off every product you see on aliexpress. The key is to tap into a customer's impulse buying behavior, you have to channel that impulse by serving your ad to the right customer at the right time so they can buy your product without thinking much.

    3. If you have zero experience don't expect to make money at ALL for the first couple months. I'm saying don't expect because if you actually make money then it will be a nice surprise. Surely there are outliers in the business like in every other industry that might start their first store and make bank off it but DON'T expects money at the start. Dropshipping is an insanely competitive industry because of its low barriers to entry but it also means that people quit every day so the market is always fluctuating.

    In short, expect to lose money but also expect to GAIN valuable experience! In reality, when you start any kind of business you will lose money in exchange for experience.

    Good luck!
     
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