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Banggood dropship program - ?

by paververisgroup
10 replies
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Hello all,

Has anyone ever used the dropship program from banggood.com? If so, what have been your experiences? There is no cost up front and I just wanted to know what their program was like? I have some stuff listed online and it's set up to be drop shipped from China. Banggood.com offers free shipping, but you have to pay a little more money if you want faster shipping (which is usually not very pricey). Your thoughts?
#banggood #dropship #program
  • Profile picture of the author Importexport
    Never used it and would never recommend it because of the pathetic margins. They offer 3% on small purchase totals or 5% if you buy over $5000 a month or 10%. if you buy over $80000 a month.

    "If you think education is expensive - consider the cost of ignorance."
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    Use emotions and perceptions to build a great brand. Ask me about my book LabelsThatExploit. For safe sourcing and easy importing from 41 countries globally, see https://provenglobalsourcing.com
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    • Profile picture of the author LeatherDropshipping
      Originally Posted by Importexport View Post

      Never used it and would never recommend it because of the pathetic margins. They offer 3% on small purchase totals or 5% if you buy over $5000 a month or 10%. if you buy over $80000 a month.

      "If you think education is expensive - consider the cost of ignorance."
      Importexport is absolutely correct.

      Those are decidedly horrible margins for you to be able to turn any decent profit. Those rates leave almost nothing on the table at all especially if your are just getting started.

      -Leather Drop Shipping
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      • Profile picture of the author paververisgroup
        banggood.com has warehouses in the United States. I was trying to open up a wholesale account with them, but I have not heard anything yet. This is just one of the different business models that I'm using. I'm diversifying how I do business and was just curious about the reliability.
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        • Profile picture of the author paververisgroup
          Banggood.com is just a small part of my business plan. By no means am I going to use them. They are just a small piece to the puzzle. I have accounts with wholesalers that are legitimate as well. I am trying to build my business but it takes time. I am also doing Amazon FBA as well. I am looking for some good wholesalers for that as well. Thanks for your input.
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  • Profile picture of the author GowebMkt
    Here is an idea.....why not just mark up the prices 10 to 15%.

    Why settle for the 3% margins?
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    • Profile picture of the author Importexport
      Originally Posted by GowebMkt View Post

      Here is an idea.....why not just mark up the prices 10 to 15%.

      Why settle for the 3% margins?
      Why settle for pathetic 10% to 15% margins?

      I have taught hundreds how to buy small quantities direct from genuine manufacturers in China and other countries. They tell me via email and via posts here on Warrior Forum that they are making margins of 300% and 500%.

      Many have started with as little as $300. It is a slower process but with such high margins they have gone on to build successful businesses.

      Why work as cheap labor for dropship suppliers when you can establish a real business with great profits?

      Walter Hay.
      "If you think education is expensive - consider the cost of ignorance."
      Signature
      Use emotions and perceptions to build a great brand. Ask me about my book LabelsThatExploit. For safe sourcing and easy importing from 41 countries globally, see https://provenglobalsourcing.com
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      • Profile picture of the author kor420
        The margins is what they give you. You make money with marking up the product WHEN YOU sell it at your store. Mark up the items 10% to 50%. If you're selling on amazon, make sure you find out the percentage fee that amazon takes for the categories you are selling under. If amazon takes 10%, mark up the item to 20%. Amazon gets 10% and you get 10%.

        I have my products marked up 50% and i'm coming coming under the lowest price on 80% of the items i'm selling. First i was marking up 20% and i kept going up to 30%, 40% and my sweet spot is 50%.

        You will not make significant amounts at the source, the money you make will come from your end. Banggood is a good starting point for the beginner drop seller, research for others because they are better ones out there, trust me.

        And remember, amazon make you wait if you're on the new selling platform 14 days before you get your money. I have my products listed as they are coming from china, so when my money is deposited i send out the orders. If someone buys from me, today, the estimated delivery date is April 6-22. My next scheduled deposit is the 21st of this month, and it will take 6-8 days to get to the customer after i submit the orders because i have the items shipped Priority Direct Mail.

        But i usually cover the cost up to 50% of whats in my bank account to go ahead and ship out the orders.
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        • Profile picture of the author violet0176
          Originally Posted by kor420 View Post

          The margins is what they give you. You make money with marking up the product WHEN YOU sell it at your store. Mark up the items 10% to 50%. If you're selling on amazon, make sure you find out the percentage fee that amazon takes for the categories you are selling under. If amazon takes 10%, mark up the item to 20%. Amazon gets 10% and you get 10%.

          I have my products marked up 50% and i'm coming coming under the lowest price on 80% of the items i'm selling. First i was marking up 20% and i kept going up to 30%, 40% and my sweet spot is 50%.

          You will not make significant amounts at the source, the money you make will come from your end. Banggood is a good starting point for the beginner drop seller, research for others because they are better ones out there, trust me.

          And remember, amazon make you wait if you're on the new selling platform 14 days before you get your money. I have my products listed as they are coming from china, so when my money is deposited i send out the orders. If someone buys from me, today, the estimated delivery date is April 6-22. My next scheduled deposit is the 21st of this month, and it will take 6-8 days to get to the customer after i submit the orders because i have the items shipped Priority Direct Mail.

          But i usually cover the cost up to 50% of whats in my bank account to go ahead and ship out the orders.
          You can mark-up up 1000% it doesn't automatically result in sales. Typically, (give or take a few dollars) one will need to mark-up to within the retail price(MSRP) to compete with other sellers, if you actually intend to make sales.

          Btw, Banggood is a terrible option, as are most third party retailers.
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          • Profile picture of the author Importexport
            Originally Posted by violet0176 View Post

            You can mark-up up 1000% it doesn't automatically result in sales. Typically, (give or take a few dollars) one will need to mark-up to within the retail price(MSRP) to compete with other sellers, if you actually intend to make sales.

            Btw, Banggood is a terrible option, as are most third party retailers.
            You are right. Your mark up has to be realistic if you want to make sales.

            MSRP doesn't apply if your are buying direct from manufacturers overseas. Then the limit is what the market will bear. I have letter on file (for FTC to check) from a former franchisee who told me "It's nice to make the occasional $50,000 profit for 1/2 days work." Landed cost on that order was $7,500 and selling price $57,500.

            Not many orders will produce profits like that, but I personally landed a shipment for $3,000 and sold it (B2B) for $21,000.

            Profit margins on importing can be substantial. Profit begins with buying but you must be able to sell what you buy oversees and import.

            As I said in my post #7 Why work as cheap labor for dropship suppliers when you can establish a real business with great profits?

            Walter Hay.
            "If you think education is expensive - consider the cost of ignorance."
            Signature
            Use emotions and perceptions to build a great brand. Ask me about my book LabelsThatExploit. For safe sourcing and easy importing from 41 countries globally, see https://provenglobalsourcing.com
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      • Profile picture of the author GowebMkt
        [QUOTE=Importexport;10583950]Why settle for pathetic 10% to 15% margins?


        I simply was throwing that percentage out there to show that using BangGood for a drop shipper is viable.
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