Is 2000$ enough for Dropshipping?

by bm2 7 replies
Hello,

Is 2000$ enough to start dropshipping? OR not how much money do you need in order to become successful and not fail just before you have a break because you only have 10$ left
#ecommerce sites, wholesaling & drop shipping #dropshipping
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  • Profile picture of the author Jerry Otto Thompson
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  • Profile picture of the author Importexport
    Originally Posted by bm2 View Post

    Hello,

    Is 2000$ enough to start dropshipping? OR not how much money do you need in order to become successful and not fail just before you have a break because you only have 10$ left
    If you have $2000 to invest in an online business it is worth considering importing direct from genuine manufacturers in China or other exporting countries.

    I have had a number of people begin with as little as $300 and go on to build a successful long term business. Here's what one wrote: "Ok. From extremely skeptical to successful completion. Credit given where credit is due. I followed the book instructions you laid out. Took my time to double check everything and was able to successfully import an order from China. Not only that but it was also a “sample order” for less than 300.00. A 300% mark up has allowed to get initial investment back and I have 70% of my inventory left. Stop promoting your book. Your encouraging competition for me Many thanks." Email on file for FTC inspection if required.

    In order to do well you need to buy direct from real manufacturers, not some of the thousands of traders on Alibaba masquerading as manufacturers.

    I also suggest selling on Amazon.

    Walter Hay
    Provenchinasourcing
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    Learn safe overseas sourcing and easy importing from retired veteran with experience exporting since 1978 and importing since 1987. http://www.provenchinasourcing.com Buy small quantities at better than wholesale.
  • Profile picture of the author dave_hermansen
    By far, it is more than you need to start a successful dropshipping website. 10% of that amount is more than you need!

    With that kind of money, you have far more than you need to establish a decent stock and ship website - even using a fulfillment center.

    If you want to dropship, our course will show you they way. If you want to try the stock & ship/fulfillment model, Walter Hay (a.k.a. ImportExport here on the forum) has a good model.

    You have more than enough money to do either.
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  • Profile picture of the author Tomas Čečot
    For example, if you're going to sell cheap chinese jewelry, it will be enough 300$ to start a dropshipping business, but if you keen on tech sales, you will need much more. In my opinion, at your first steps you shouldn't invest into serious platforms - just make a couple of small buy-in from your potential partner to check a quality of a product and you're ready to go.
    While you're "no name retailer", try to avoid automation - it's the biggest mistake of dropshipping newbies. Communicate with customers directly - it will help you to find first loyal customers and look like legit.
    Now, let's talk about technical stuff. I strongly recommend you to start with Shopify/WooCommerce store and eBay. You can also use various regional Facebook groups, small announcement websites.
    Advertising: in my opinion, you should try to avoid advertising on Facebook and Adwords - it's very costly and you can make a lot of "expensive" mistakes if you're not familiar with these tools. Try to find your first customers on eBay or various Facebook groups and collect their emails to send newsletters. According to DMAs research, email marketing has the biggest ROI of all marketing channels. For email marketing, I strongly recommend using Soundest. Yea, it's quite costly, but it will help you to save money on hiring a programmer - with this tools you can create various landing pages easily. It also has a lot of fun features like lottery, so it will help you to attract customers.
    And my biggest advise - try to do everything by yourself. Then, even in the case and failure , skills,that you've gained can pay off with a vengeance.
    Best regards,
    Tomas Čečot.
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    • Profile picture of the author dave_hermansen
      Originally Posted by Tomas Čečot View Post

      For example, if you're going to sell cheap chinese jewelry, it will be enough 300$ to start a dropshipping business, but if you keen on tech sales, you will need much more. In my opinion, at your first steps you shouldn't invest into serious platforms - just make a couple of small buy-in from your potential partner to check a quality of a product and you're ready to go.
      What you are describing is NOT dropshipping.
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      FREE ONLINE COURSE - Learn How to Dropship the Right Way!
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  • Profile picture of the author MValmont
    If you know what you are doing you can get started with $50-$100
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    • Profile picture of the author dave_hermansen
      Originally Posted by MValmont View Post

      If you know what you are doing you can get started with $50-$100
      Agreed. Dropshipping takes very little investment.
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      FREE ONLINE COURSE - Learn How to Dropship the Right Way!
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  • Profile picture of the author RodneyC97
    I would definitely say that's more than enough! I started with only $30!
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  • Profile picture of the author nikdata
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  • Profile picture of the author Team Shoppiinn
    Hi, we are Shopify Partners and can be found at www.ecommercestorez.com

    We create dropship stores with US suppliers with 1000's of high quality products, our packages start from 399$. We also help you market your store. Please get in touch at shoppiinn@gmail.com for more information.
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