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    Dropshipping: 2 in 1: The A-Z guide on the Art of Creating Passive Income with E-commerce, Shopify
    Dropshipping: 2 in 1: The A-Z guide on the Art of Creating Passive Income with E-commerce, Shopify
    Dropshipping: 2 in 1: The A-Z guide on the Art of Creating Passive Income with E-commerce, Shopify
    Ebook246 pages3 hours

    Dropshipping: 2 in 1: The A-Z guide on the Art of Creating Passive Income with E-commerce, Shopify

    By Income Mastery

    ()

    Read preview

    About this ebook

    Been thinking about trying Dropshipping but don't know what to sell?

    Have already started but looking for more profitable items?

    Learn what you need to get started!

    A lot of people have tried dropshipping, but not all have found success. It's not that it's not profitable, or that some don't have what it takes. Everyone has what it takes – The secret is in the planning.

    Just like any online business, you must plan, learn the process, and market your brand.

    Once you've planned out what you need to do and learned the dropshipping process, the next step is to source out products.

    Now, you can't just choose any product. You have to find the products for your brand. How do you know which products are the right choice?

    With this guide, you'll learn what you need to research which products to choose for your brand whilst maximizing your profit marging.

    Books Included:

     

    Choosing and researching products for your dropshipping business doesn't need to be a puzzle or a hit-or-miss kind of deal. Find profitable products that are right for your brand every single time.

    Grab your copy today and take your dropshipping business to the next level!

    LanguageEnglish
    PublisherAiditorial Books
    Release dateJan 7, 2023
    ISBN9798215896419
    Dropshipping: 2 in 1: The A-Z guide on the Art of Creating Passive Income with E-commerce, Shopify
    Author

    Income Mastery

    Phil Wall grew up quite poor and had to learn the value of "money" through hard work and perseverance. He has worked numerous low wage jobs like being a waiter, fast food counter cashier, and dishwasher. However, he managed to get a college degree and started to work at numerous banking positions. He enjoyed writing about money and helping others through writing books.

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      Book preview

      Dropshipping - Income Mastery

      Book 1: Dropshipping

      Master the art of product research and find the most profitable private label items across Amazon for Amazon FBA and Amazon Fulfillment and maximizing your profits on your Shopify store

      By

      Income Mastery

      Introduction

      This book is a valuable resource whether you already have a Dropshipping business or if you are just thinking about starting one. It will tell you what you need to get started and if you already have your own business it may help to identify what and why something is not working for you.

      If you have a Shopify store, it will give you tips and ideas on how you can make a higher return on your current inventory as well as how you can expand your product line so you can earn even more.

      Dropshipping is a great way to have your own store with a minimum financial output. You are able to sell items and make money without having to invest in an actual inventory of products as well as the usual expenditures that come with having your own store. You also don’t have to directly participate in the shipping and handling part of getting the sold products to your customers.

      You may have entered the online retail market by setting up your own Shopify store. The setup and steps you have to take are different from Dropshipping, but the one common thread that ties these E-commerce endeavors together is you have to find the best products that are available for your product line.

      When you are utilizing Amazon Fulfillment, Amazon FBA or your Shopify store, you must know how to effectively research the products that are available that will bring you the highest rate of return. In this book you will learn everything you need to know to have a successful online retail business while creating the highest profit margin that you can.

      Each chapter will lead you every step of the way so you can rest assured you are heading in the right direction. If you are unsure of any of the steps you need to take to secure the best products for your business you may feel like giving up before you even reach your goals.

      This book will arm you with knowledge in every area of product selection and save you many unnecessary steps along the way. The mission here is to help you set up a successful system of product sourcing without becoming overwhelmed.

      You will learn:

      How do you determine what your goals are for your Dropshipping business?

      What is the difference between wholesale products and private label items?

      What is your criteria when choosing your product line?

      What is a restricted brand?

      How do you decide on your niche category and find the market for it?

      What is a Gated category?

      How do you create your initial list of products?

      Where do you look for additional products beyond Amazon’s Top 100?

      From start to finish, you will learn every detail of product sourcing to achieve the highest profit. The information compiled here has been streamlined so that all you have to do is follow each step in order to achieve ecommerce success.

      But product sourcing is just one part of the process. You will find out how to locate products that are available directly from the manufacturer and why it will increase your profit line.

      Once you have your product line together you will find out what steps you need to take to validate them. As you source your products you will be able to establish the profit margin you can expect from each one. You will learn the different kinds of suppliers that are available so you can make informed decisions as you add to your product line.

      An important step in this Dropshipping lesson format is understanding what a wholesale shipper can and cannot do for your business. You will find out how to look for and source products that have private labels. And you will learn the process of test marketing sample products to see how well they will sell before you spend too much time promoting them.

      Once you have all this information under your belt and you are comfortable with the process you have just learned, you will be given additional tips and tricks of the trade on getting more ideas for products and finding additional sources.

      This book will become your tried and true manual for taking your Dropshipping business and Shopify store to new heights. Don’t worry about taking in all of this

      information at one time. At the end of each chapter, there is a summary of actions for you to take so you can keep moving towards success.

      Chapter 1: Getting Started with Product Sourcing

      Okay, you are ready to find the best products to sell online but where do you begin? It is suggested that you don’t just purchase items based on what you like personally but you should keep your mind open and follow what is currently trending, popular, or selling well at other online shopping sites. It may not be your cup of tea but it might be a favorite item for a different group of shoppers. When you stop to think about everything that is out there to choose from it could be very overwhelming to even get started. So how do you begin?

      Once you find a product you would like to sell, that is great. But it is just the beginning. You need to learn everything you can about this product.

      Extensive research is required. Who would be your target market? Check out social media to better define who you are marketing to. Check ratings as well as actual sales. See if the product is trending or past its prime.

      What are the names of the companies you would be ordering from?  Make contact with some of these companies and get a feel for each one. See if they could send you a sample of the product you want to sell. You should know this product inside and out before you commit to selling it.

      When you find a supplier you feel comfortable with, see if you can set up a sample order to see exactly how the process will work using their services. Don’t be afraid to try more than one company. With a sample order you will be able to see how the product will reach your customer first hand. You will be able to determine if your customer is going to have a positive experience or if they are wondering why they even ordered the product.

      Identifying Your Goals for Your Dropshipping Business

      FIGURING OUT EXACTLY what you want to achieve with your Dropshipping business is a very important step that you should not skip over. How will you know if you are headed for success or just treading water?

      The basis for setting goals in any area of your life is the same. You just have to adapt the steps to your Dropshipping business. There are a number of specific areas that you will need to address. The more specific you are with setting, adjusting, and re-evaluating your goals, the better chance you have of achieving them.

      Your Product Line

      If you already know what you would like to sell, you are ahead of the game. If you are not sure or have no idea at all, don’t worry, the next chapter will go into more detail and help you make informed decisions. Right now, just start thinking of items you might want to feature on your site. You should also take the time to check out other businesses that sell the same or similar items. Research what items are trending right now. Remember, it doesn’t have to be your favorite, but there could be a specific sector that is always looking for certain items that could become top sellers for your business.

      Staying Current

      This is a practice you should conduct on a regular basis. Evaluate your product line to see what is working and what is not. What is popular today may change by next week. Staying on top of the trends will keep your business relevant and help you retain your customer base and even attract new buyers. No one will frequent your site if you continue to carry the same items all the time. It would be like going to a restaurant that never runs any specials but has the same old menu all the time.

      Your Financial Goals

      If you are just starting out you may have to look up businesses that are selling the same or similar items that you plan on selling and find out what their profits might be. If you are already in the Dropshipping business, look, up your earnings for each of the items you are selling and figure out how much you would like to increase them by.  Most of the ecommerce sites that you are on or looking forward to using should probably have a listing that will show you the revenue you have made per number of transactions.

      If you don’t already have a financial plan set up you will need to make one. If you do, you will want to stay on top of it on a regular basis to make sure you are on track with your goals.

      A financial plan for a Dropshipping business is fairly simple. Costs are low so all you will need to list is: the cost of your domain name; the cost of your logo and any other costs involved in designing and setting up your website; how much you pay monthly for your website; the cost of acquiring samples; and any additional costs you may have incurred or are currently paying for on a regular basis.

      When you set financial goals you will need to figure out what it will take to earn the specific amount you want to build or increase your profits by. How many sales per week will you need to make in order to reach an extra $1000 a month? Will you be working with wholesale products or retail products?

      What Are Wholesale Products?

      WHOLESALE PRODUCTS are less expensive than retail products because they are sold in larger quantities. Wholesale items come directly from the manufacturer and are then purchased by retailers who in turn sell the items to customers. This process cuts out the middle man and the purchaser of wholesale products is able to buy the product at a cheaper price. Wholesalers don’t have to spend money on fancy storefronts or advertising and generally work from a warehouse setting.

      Products are shipped in bulk to single locations so there is not any extra work involved in shipping and distribution. This makes the resale of products to a customer a more profitable deal. When you work with wholesale products you are generally limited to specific products that the specified wholesaler carries. Items purchased from a wholesaler are priced to be resold.

      What Are Private Label Products?

      PRIVATE LABEL PRODUCTS are developed so that one company can hire a manufacturer to sell their products according to their specifications and packaging. This creates a line of products that are all under the company’s name developing their own identity. Private label products can usually be found in food items as well as personal grooming products, in the beauty and cosmetics area, and in fashion and apparel.  Many cosmetics and skincare products have grown into profitable and reputable private label items.

      One of the main advantages of private label products is they can prove to be just as good and sometimes even better than established name brand products but at a lower price. Target, for example, sells items under their private label, Archer Farms and Walmart sells products under their private label Great Value.

      Sometimes a major company is behind a private label product but it is still sold at a lower price. If it is manufactured through the famous name brand it will usually identify itself on the label. This is considered a white-label product.

      There are manufacturers who will produce products under a number of store brands and simply change the label to reflect each store’s brand name. You would be surprised at what is behind some of the labels on generic products you buy.

      Private label and white label products are sold at a substantially lower price than popular name brand items. It doesn’t  mean the name brand product is better than the private and white label products, it just means the name brands have to spend more in marketing, advertising, and branding to make money on their product line.

      Plan of Action

      Pick out 4 to 6 products you would like to be part of your product line.

      Learn everything you can about each product 

      -  Who would be your target market?

      -  What other sites are selling this product?

      -  What price is it being sold for?

      Check to see if it is being sold wholesale.

      Contact the manufacturer to see about getting samples.

      Create a worksheet of all of the things you are paying for to start up and run your Dropshipping or Shopify business.

      Set your financial goals based on your expenditures. Break it down by week, month, and year.

      Check out what products are available wholesale.

      See if there are any private label items you want to add to your line.

      Set a day that you will review your product line each week.

      Decide on how many items you want for your product line.

      Keep a list of items you would like to check out to add to your product line in the future.

      Chapter 2: Getting Ideas on What Products to Choose

      By now you should have a list of products that you would like to sell. If you haven’t found a separate list of items that are trending, go through social media to find what people are talking about. You can also do a search online of the Top 10 Dropshipping Websites and check them out to see what they are featuring. You should always know what your competitors are doing anyway, from what they are selling, to what they are charging, and what they are not selling.

      Check out social shopping sites, like Etsy and Pinterest, to see what is trending. You will quickly be able to see which products are getting the most attention. You will also be able to see what items are being shared and recommended.

      Whenever you are checking out any products, some of the most invaluable information you can get is through the testimonials from those who have already paid and purchased these products. They can give you the pros and cons as well as alert you to potential shipping and customer service issues they experienced.

      Wanelo.com is another excellent source of information. You can browse through a vast array of some of the best online stores from this single site. There are a number of different ecommerce businesses that are carrying a wide variety of products.

      If you are a part of any specific groups, clubs, or support blogs online, check out to see what people are talking about. This, along with reviews and testimonials, will give you some of the most honest feedback on what people are loving and items that didn’t live up to the hype.

      Lastly, when in doubt, search it out. Enter a search for Top Dropshipping Products for 2019 and see what pops up on the list. You can do this for any specific products, for example, you can find out how successful skincare products would be in your Dropshipping business. After entering this search it showed that this category turned out to be one of the most profitable niches on ecommerce in 2018. Take advantage of all of the information you have at your fingertips through the Internet. All you have to do is enter a question you want to be answered and phrase it exactly as if you were asking a friend. You will be surprised to have the answer to your question returned to you in a matter of minutes.

      Establishing Your Criteria for Product Selection

      AS YOU GET CLOSER TO finding products you would like to sell, you should begin to set up the criteria that each product must adhere to in order to be selected.

      Popularity. You should completely research a product to see if it is trending, and if it is, is it at the beginning or end of its run. Even if it is trending, it may not be worth it by the time you add it to your product line.

      Price. What is the retail price for this item? Is it available as a wholesale item? What are my competitors selling the same item for? You may want to set up a section for low-priced items and higher priced products. Each group will attract a different clientele but it may let you know that it is easier to deal with higher-priced items than go for low-costing products.

      Profit margin. Once you find a price for each product that you are comfortable with, you will have to adjust each one so that you can reach the amount you need to make the profit you set up for your business.

      Repeat business. Is this a product that will automatically require repeat business? This could affect the price as it might make up for percentages if it made it up in ongoing volume. This could give you a small but regular income.

      Target market. You must identify the type of people who will not only be interested in each product, but who will be willing to enter their credit card info so they can make a definite purchase. You wouldn’t expect people who have a family that consists of small children to be interested in the same things as single millennials. Knowing your audience will definitely help you make more sales.

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