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Thread: Is dropshipping still worth it?

  1. #1
    Join Date
    May 2020
    Location
    Vietnam
    Posts
    48

    Is dropshipping still worth it?

    Hi, I'm looking for some advice here. Have you guys tried the dropshipping business model? What was your experience with it? Is it still worth pursuing, and if yes, what is the best way to go about it?

    Thanks in advance!

  2. #2
    Join Date
    Oct 2019
    Location
    Hanoi, Vietnam
    Posts
    6
    Hi john,
    I'll show you some pros and cons of dropshipping for you to consider
    Advantages of dropshipping:
    1. Easy to get started: you donít need any prior business experience to learn the basics and get started quickly. You donít need a warehouse to store products. You donít have to worry about stocking or shipping. You donít require a team to help you out. You donít spend much time managing your store. Just learn some foundational knowledge and learn along the way.

    2. Not much capital is required: itís possible to launch an ecommerce store with minimal funds. No high-level investments required even as your business grows, and you can build an entire business right from your own laptop.

    3. Easy to grow: As you scale, most of the additional work can be done by leveraging suppliers, and the costs donít add up quickly so you can grow faster.

    4. Easy to manage: Because you donít need to make too many commitments, you can manage things better with automation on both suppliers and shipping. You can even do things by yourself if you like to.

    5. Easy to test: Since you donít invest much in buying products, you can test to find the suiting product categories or try launching new stores. And the strategies to grow are various because of this too.

    Disadvantages of dropshipping:
    1. Slim margins: you should expect low margins when doing dropshipping and the product margin in some niches might be small. Because the overhead costs are so minimal, competing stores will sell items at rock-bottom prices. What you can do is try to sell as many items as possible, and gain revenue from numbers.

    2. Not a lot of control: When it comes to ordering fulfillment, stocking products, and shipping, you are not in charge. You have to rely on your suppliers to do everything right and work together. And when something goes wrong, it can be tricky to manage.

    3. Limited branding chances: Usually, the product drop shipped is designed, produced, and branded by the supplier. Some suppliers can agree with putting your logo on, but any changes or additions to the product will require more agreement between both sides.

    4. Order processing difficulties: If you work with multiple suppliers like most dropshippers, things can get complicated, especially with shipping costs.

    Conclusion? YES, dropshipping is still profitable because you basically spend so little to start in the first place. It can be a side hustle where you spend a few hours a day managing and make side money. If things go well, you can make it as a full-time business and careful planning for the future.

    The choice is yours, the sky is the limit, and dropshipping is definitely worth some time experimenting.
    Last edited by Jason Dao; 06-15-2020 at 12:31 AM.

  3. #3
    Join Date
    Oct 2020
    Posts
    31
    If you want to earn a decent income by starting your side business, then dropshipping is definitely worth it. However, if you want to make lots of money in a short amount of time, then dropshipping is definitely not worth it. For dropshipping to work successfully, you will have to invest time, money, and effort

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