Dropshipping is a form of order fulfilment that allows store owners to sell directly to customers without having to keep inventory on hand. When a customer orders a product from a dropshipping store, it is shipped directly to them by a third-party supplier. Customers pay the retail price you establish, you pay the wholesale price determined by the suppliers, and the balance is profit. You'll never have to deal with products or stock up on inventory. Lukas Tsimopoulos explains the business model in more detail here.
Is dropshipping really profitable?
Yes, as per business, it can be profitable if done correctly. All it takes is learning the right frameworks that work, and consistently implementing effective marketing in conjunction with your businesses amazing offers you have available for your customers. This business model is by far, not a get rich quick scheme, and requires a consistent work ethic to prosper.
How much can you make as a dropshipper?
There's no specific amount of money you can make from dropshipping. There are people out there who make $1000 a year from it, and there are people out there who make $100,000+ per year from it. It depends on many factors.
How hard is it to start a dropshipping business?
Starting a dropshipping business might be a difficult task. Because you can start a dropshipping business for free, you may face a lot of companies who are selling a specific product at similar prices. It is a competitive area, and understanding how to implement the most effective strategies is one accelerant towards having a profitable online business.
If you're looking for assistance with starting an eCommerce business, read this blog here.