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How Much Money Can You Make With Dropshipping?

 
dropshippingHow much money can you make with dropshipping?

This is a loaded question, because the amount of money you can make with dropshipping will depend on many factors and will vary from person to person. Some drop shippers are earning 6 figure incomes, while others limp along making few sales.

So, what decides the difference? How do you know, if you decide to start an ecommerce home dropship business, whether you will make a lot of money….or not?

When all is said and done, how much or how little money you can make with dropshipping is up to you. There are certain basic things that come into play with the successful drop shippers and these things are all too frequently overlooked, neglected or simply not done right.

To help you get an understanding of what you should do in order to make a lot of money with dropshipping, we will look at some of the similarities of successful drop shippers and the way they do things to make their home business a success.

  • Successful ecommerce entrepreneurs realize that their niche is crucial to their success and how much money they can make with dropshipping. So, they don’t just jump in blindly and go with just any old niche. Instead, they take the time to research and find out which niches are much in demand, which have the most potential for profit when buying for resale, which are going to be good performers all through the year and whether or not they can find a reputable wholesale supplier for the niche products. It doesn’t matter how great a niche it might be, if you can’t find a place to get the products---you won’t be able to use it.

  • Those who succeed and make money with dropshipping realize that they make their profits when they buy, not when they sell. What does this mean? In a nutshell, it means that when you are buying for resale as from a wholesale dropship product source, paying too much for the product narrows your margin for profit considerably. For example, if you want to dropship flat screen TVs and the going retail price is $300, you can’t very well pay $295 each for them and come out ahead. To make enough profit, you must buy low and sell high---or as high as the market will bear, anyhow.

  • Anyone who wants to have a profitable dropshipping home business will shop carefully before dealing with a wholesale product source. You want one that is reputable and established, preferably a member in good standing of the Better Business Bureau, has high quality products and good business practices, such as sending Low Inventory notices so that you don’t over sell.

  • Savvy business people understand that your business will only be as good as your customer service and provide excellent service all of the time. If you want to stay ahead of the competition, customer service is the key!

It’s plain to see that how much money you can make with dropshipping is entirely up to you!

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