So you are interested in learning about dropshipping and more importantly is dropshipping profitable in 2018? Is dropshipping dead? How would you like some dropshipping niche ideas?
All great questions, I will cover it all in this article.
Due to its low startup costs, drop-shipping has taken the online market by storm. It is one of the simplest ventures starting out since no technical skills are required.
All you need to have is a laptop and good internet connection.
As a dropshipper, you do not need to stock your products resulting in less stress compared to dealing with issues of storage.
You also can get assured by your suppliers for your products to keep your business running .
Building strong relationships with your suppliers is worth its weight in gold.
Good relationships mean fast processing of your orders which means fewer complaints and less refunds.
In dropshipping, you have the authority over your product's pricing. Therefore, you are free to set your price.
There is stiff competition in the field, however, with the massive margins and a wide range of niches to enter, you would be crazy not to give it ago.
So with this, dropshipping can be profitable in 2018.
Only a few years ago, dropshipping was the most attractive business opportunity on the internet.
Stories of young kids becoming millionaires within a year spread like a wildfire.
Back then though, there was far less competition but it also was harder to find quality suppliers who were friendly to drop-shippers.
Today, It is easier to find a good supplier for your dropshipping products.
Plus services such as OBERLO make sourcing products from aliexpress a lot easier.
Once you have a supplier sorted you then can post on marketing sites such as eBay or Amazon. All you do is wait for the products to sell .
Then you order from your supplier who then ships directly to the customer.
It is one of the fastest, and easiest way of making money online.
However, with time, dropshipping is not as prosperous as it used to be but
I wouldn't say dropshipping is dead just yet.
The situation can get attributed to the competitive market for dropshipping.
At eBay for example, customers are overly interested in buying at reduced prices.
Therefore, for dropshipping businesses who must pay their eBay fee, source the product, and still ship their products to customers have little margins of profit.
So is dropshipping worth it?
Well YES but only if you do your research first.
PICK THE RIGHT NICHE...
You should identify a great niche that will determine your success with your dropshipping business. Establish that the products you are selling are in high demand and have competitors.
I know what your thinking, wouldn't it be better if I didn't have competition? What I picked up from some legends in the dropshipping space is competition is great.
That means that a product or products you have has a vast amount of people willing to spend their hard earned cash on.
A good niche secures a large consumer turn out and that translates to a better income for you and your dropshipping business.
A rule to live by when choosing a niche.
Pick something you are passionate about.
Something you could spend an entire evening chatting to someone who lost interest an hour ago.
If you have one in your head, I have a bit of bad news, sadly there possibly are various websites in that niche already.
But like I mentioned before that means there is money to be made.
What you do here is "niche down".
Move into a sub-niche where competition is smaller and position your dropshipping store as the dominant source.
Take my illustration above.
If I loved to cook I might be interested in the kitchen niche.
Major competition with big brands and even vaster marketing budgets.
That's why you need to "niche down". Move into a sub-niche and develop into the
go-to store in that niche.
Like in the illustration above. If I was choosing, I'd go into the smart kitchen niche and I could "niche down" further and go into the smart kettle or smart fridge niche.
I hope this encourages you and hopefully I explained it well enough for you to understand.
I'm in the process of creating a guide of what I use to choose a worthwhile niche.
I will leave links here when it is completed.
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