How You Can Build a 7 Figure Online Business Using Dropshipping
What do we mean by Dropshipping?
Drop shipping is not a new concept but it has been getting more popular in recent years. There are many misconceptions about what drop shipping is, and a lot of people try drop shipping and fail because of those misconceptions, but we have worked with them for many years and are able to help people to achieve success and build 7 figure businesses with it.
How Does Dropshipping Work?
A lot of people, when they talk about starting dropshipping, say that they want to drop ship. That’s not really the right way of wording it. In most cases, what people really mean is that they want to be the retailer, and use a drop ship supplier. It’s important to get this side of the terminology right.
Drop shipping is a service that a lot of wholesalers use. When you become a retailer that uses drop ship suppliers, you can sell their products without having to hold stock. This means that you have lower overheads – you don’t need a warehouse. You don’t need to worry about inventory or shipping and handling. You don’t even need to pay for something unless you successfully make a sale. You just advertise, take the payments, and make the sale.
The Practical Side
If you want to sell products online, then you will need to have a way of getting the products to the customer. It can be a pain to have to handle stock in your own home, and the shipping process – wrapping, labeling, ad dispatching the items – is not exactly fun either. You probably don’t have a huge amount of money at the moment, so it makes sense to use a drop shipper and keep your margins at the right level to make a profit – then reinvest later.
Dropshippers are a tricky thing to find. You want to deal with a certified wholesaler who will drop ship and who is happy to work with an online seller. A lot of companies won’t do that because they want to protect their brands. Take a look at the Directory of Certified Dropshippers to find reliable wholesalers that are happy to work with online stores.
Ideally, you want one that will give you access to a product feed with lots of images and descriptions, so that you can post these online. When a customer places an order for a product, you pass the order on to the wholesaler, and they will then pass it on to the customer. You can watch the full video preview here: https://www.youtube.com/watch?v=Yuhfaw00u28
The Pro’s & Con’s of Drop Shipping
For the most part, drop shipping works very well, but there are a few pros and cons. It’s important that you know what you’re getting into, and that you communicate clearly with your buyers too. Firstly, remember that you can’t just sell any product – not all products have good enough margins. With drop shipping, you’re buying one product at a time. This means that you miss out on the wholesale discounts that you would get if you were buying in bulk. In a price-sensitive market, often the people who are able to buy in bulk then resell will be able to offer far better value to the end consumer than you can – maybe even beating your wholesale cost. This will cut out a lot of chances for competition. Check out the 7 figure cycle official twitter profile here: https://twitter.com/7figurecycle
When Will Drop Shipping Work and How Can You Build a 7 Figure Business With It?
Drop shipping can work if you can find good deals on products that have bigger margins, or if you can find something that is non-perishable, that people order a lot of, and that you can get a steady profit on. Lighter items work better because of the lower shipping fees, and you want something where even after you take into account listing fees and Paypal fees you will still be making money. Do lots of research, and check the competition to make sure that you’ll be able to sell lots of the product. Work hard on your listings, and over time you should find that you can make a steady amount of money.
Watch the video about how you can build a 7 figure online business with drop shipping here:
The 7 Figure Cycle Book
Aidan Booth and Steve Clayton who actually invented the dropshipping business model are just about to publish their new book called 7 figure cycle. In their new book they are talking about their new 7 figure business model using dropshipping, Amazon and Facebook add’s. You can get more information on their official website here: https://7figurecycles.net or you can check out one of the unbased review websites like: http://www.gfkamerica.com/7-figure-cycle-review…