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Is Dropshipping Business Still Profitable in 2020?
Let’s get one thing clear from the start Dropshipping is hard! However, if you are still wondering whether or not drop shipping is profitable in 2020, the short answer is yes.
However, as in any internet business, it is not that simple. You cannot expect to open a store and become a millionaire.
Over the years, many people started the dropshipping business, which made the business model competitive, not dead.
There are a few facts that you should know about dropshipping before you start your eCommerce business.
It is going to be a hard process
Even though it might look simple, where you just only grab products from manufacturers from AliExpress, advertise them as your own and sell them directly to your customers, it requires much more than that.
In order to create a successful dropshipping store, you must be willing to work hard, have patience, learn the process through testing and failing, and the most important thing is to be strong-willed.
You should learn the process
The dropshipping business might look like a walk in the park for you, but it requires quite a bit of knowledge. This means that you cannot skip the learning part and go straight to making money.
You cannot build a successful dropshipping store without knowing all the tricks in the book.
Do not believe the hype
There are many people on the internet flashing screenshots of unbelievable amounts of money they’ve made on their dropshipping store. The truth is, most of them are fake, so it is best not to follow their guidelines.
Dropshipping is still profitable
We cannot argue with the fact that the best time for dropshippers was three years ago, but the eCommerce industry is continuously growing and there is still a chance to build a successful business.
When you look at the facts, you will be astonished. As we all know, Amazon is one of the biggest eCommerce stores in the world. However, it still holds a single-digit percentage of all retail businesses in the United States.
How to Start Dropshipping Business in 2020
There are a few simple steps in the process of starting your online dropshipping store.
- Choose your Niche
The first thing to do is decide what kind of store to start. There are two options available for you. We have a general store or niche store.
A general store is where you showcase different kinds of products, where on the other hand, niche store is a more specific type of products.
Both of them have pros and cons, but usually, beginners start with the general store until they find what they want to sell.
- Set up your store
Fortunately, you don’t need to be an IT expert to do this. Shopify is an excellent platform for you to start on and can be set up in a few minutes.
The best thing for Shopify is that you’ll get all the help from their expert team, and they offer great features for your store.
Make sure your store looks professional with HD photos, good descriptions, and other information. Otherwise, you will definitely fail.
You can buy the domain name from them, or you can add your own domain name. Shopify hosts their own websites, through subscriptions that you must pay each month.
- Determine your marketing budget
Obviously, the paid traffic will be the primary source of traffic your website will get. This means that you must determine how much you are willing to spend on advertising.
$1,000 is the right amount to start with, just so you have a chance to create a successful business.
Facebook is the best way to promote your products, where you can create targeted campaigns. The budget per ad should be $5 per day, and you must run it for 4-7 days just to determine whether or not it is going to be successful.
This is where you will test out things and find which products sell well through trial and error.
That is how you can start your dropshipping store. The method is simple, and all you need to do is search for trending products that people want to buy, and use clever advertising to make profits.
It is not too late to start your dropshipping store, and if you do it the right way, you have a chance of making money just like if you place a bet to guess the Kentucky Derby winners.