Dropshipping business model seems to be the easiest, according to many social media campaigns and YouTube advertisements. There is minimal handling of products by the online store owner. Although it seems to be a quick way of earning cash, yet if the wrong strategies are applied, one can lose thousands of dollars in it without estimated profits.
If you are planning to start your online business with a dropshipping business model, the first thing that can come into your mind might be like: How much do dropshippers make?
Before we get into its details, let’s see how differently two types of dropshipping models work:
Low ticket drop shipping: It involves owning an online store after working on all the necessary details like niche, selecting the product, and deal with a local merchant to send it directly to the client.
After that you advertise on social media about your products, you might get a boost in your products sale. This will require a large amount of effort, money, and commitment.
If you don’t choose social media ads, you can hire a social media influencer to advertise your products for you.
The drawbacks it has for your business that it requires a lot of time and money to spend and continue later on. You will often get complaints regarding delivery and customer service. One of the common opinions and debates is that it generates less income than high ticket drop shipping.
High ticket dropshipping: is a sustainable way to build yourself a business. High ticket drop shipping involves buying an online store or making an online store.
Then search for some branded products which are similar to your niche. Add them to your product niche. Now spend some money on advertising either the already existing product or the new one.
The average income of drop shippers:
Depending on the startup and category of business they fall into, a drop shipper can make a decent amount out of this business model.
- If you have started a new store and are new in the business, getting familiar with ways to succeed, you can earn up to $1000.
- We have discussed two types of dropshipping models and gave prime importance to the high ticket model; those who utilize and market their products through high ticket strategy can earn from $200-&3000.
- Grasping the target audience and the market is necessary to launch a successful product. One who is new and does not know much about the market can earn a limited income from $500 to above depending upon his various strategies.
- Those drop shippers who have grasped the concept of launching a perfect product with the understanding of the market will earn more than the remaining. Those who have an idea about marketing and are utilizing it can earn a decent amount of $10,000 and beyond via this business model.
Dropshipping has been a buzz in the online business for some years now; of course, you can earn easily with it. Yet for its success for your product and online store depends upon your understanding of it and how do you utilize it.