I recently had a chat with a couple of friends & new dropshippers & they asked me Is Dropshipping Worth it?
The short answer is YES. Dropshipping is totally worth it in 2020 & in the coming years. Dropshipping is a business model that is not going anywhere. The best time to start a dropshipping business was 5 years ago & the second-best time is today.
But like any other business, dropshipping has become more competitive than ever. And a competitive market gives rise to creativity.
With new social media’s on the internet like Tiktok & other platforms, dropshipping is going to be even bigger then it was in 2018-2019.
But is dropshipping really worth it for you in 2020?
Let’s find out.
Is Dropshipping Worth it?
Let’s look at some of the stats & reasons why dropshipping is totally worth it in 2020.
Instead of just me giving my personal opinion, here are the market numbers & number’s don’t lie.
- By 2021, global eCommerce sales will reach $4.5 trillion according to Shopify.
- 80% of Americans have purchased online in the last 30 days
- 4 in 10 purchases are made online
- Mobile shopping hit $2 billion on Cyber Monday
These are just some of the eCommerce-dropshipping statistics that directly point that we have only scratched the surface of the eCommerce industry yet.
These stats are expected to grow even more in the coming years.
As we go forward into the digital world, the eCommerce industry is the retail industry of the digital world.
Dropshipping is just a small piece of a trillion-dollar market. Not many people realize this golden opportunity, but keep in mind that if you are not doing eCommerce business then someone else is doing it.
As dropshipping gets more & more competitive, you can’t earn money the old ways but if you come up with some creative idea just like one-product stores became popular in 2019, then this can be an excellent business for you.
Dropshipping is not for people who like to be guided on every decision they make. It;s just like any other business. You have to take the risk & if you are one of them the dropshipping is worth it.
If these stats are not enough, here are some of the reasons that the dropshipping model is great for startup entrepreneurs & Individuals.
Reasons to dropshipping in 2020
1. Easy to start
Dropshipping business is one of the easiest businesses to start. But just like any other business, you should have some kind of knowledge in that business.
Dropshipping depends 90% of marketing & if you master the art of marketing on Facebook & Google then dropshipping business will be 90% easier for you than the rest of the world.
2. Low-Cost Setup
One of the main reasons that dropshipping business is easy to start is because of its low-cost setup. Unlike other businesses where you would require at least $10k to start, here you can start with $1k.
Even if you have $0 now, you can work for 3 months & save enough to start a dropshipping business considering you have some knowledge in the business.
3. No Stock/Warehouses/Fulfilment required
The best thing about eCommerce business is you don’t require any stocks, or warehouses to store & pack products or even a fulfillment team.
Do you know any other business model that helps you to this level? It’s the only business model that gives the owner this kind of freedom.
The manufacturer that you are dropshipping from, takes care of all of that & that makes dropshipping worth it.
4. Easily Automated
Dropshipping business can run on its own with very little supervision once you know the ins & out of your product & store.
There are many automation tools that automate the process very easily that you only have to take care of marketing & everything else works on automation.
You can even hire VA’s that are experienced in this field for $5 an hour & completly focus on marketing & increasing sales & the VA takes care of the rest.
5. Work from Anywhere
Now by this I’m not saying that you should start your business by visiting other countries but as this business does not require any office space, you can work from home, on your bed, sofa anywhere.
And if your business takes off then you can travel to other countries and work at the same time.
6. International Business Opportunities
Now as far as I remember, no other business offers this kind of flexibility. I mean if order to do international business in any other business there are 100s of laws, rules & regulations, certificates involved & a huge fckin mess.
To do International business with dropshipping all you need is a working mind, laptop, bank account & some cash in had to process orders if you receive any asap.
If you think these reasons are not good enough then let me tell you a harsh truth. You will never succeed in any business & chances are you will be an employee for the rest of your life.
My Advice on Is Dropshipping Worth it?
The problem with everyone asking if is dropshipping worth it is, Do you have what it takes to run a business?
Because most people don’t. That’s why 90% of the people I know are employees & not business owners.
You don’t have to leave your job to start a dropshipping business. Start the business by working on it late at night or early morning.
Dropshipping is a regular business & if you think you can put in $100 & get million dollars in sales then you’ll fall on your face.
Treat dropshipping like a business, learn it, work for some dropshippers as a VA, work for some eCommerce companies, learn FB Ads, & then start a dropshipping store.
Dropshipping is worth it to people who have what it takes to run a business, not for those who can’t lose $100.
Even if you fail in dropshipping business & according to the minimum investment required to run a dropshipping store, you’ll lose no more than $500.
And if you can’t lose that kind of money then you are in the wrong place & the right place where you belong is working under an employer with a secured job position. No BS just facts.
I was a bit harsh in the blog, but what I said is the truth.
I really want all of you to succeed but some of you will not & that’s okay. But ask yourself, did you put your 100% or not?
It really comes down to if you have what it takes, & even if you don’t have that now, you can learn more about it & start a dropshipping business in 2021.
Just keep your facts right & keep in mind that drop shipping takes time & effort to learn & just like any other business, it fails or succeeds depends on the amount of work you put in.
So that “Is Dropshipping Worth it?”
I hope you enjoyed that one & catch you guys tomorrow?
Have a question? Comment? leave them below & I’ll answer them.