You witnessed other entrepreneurs earning a lot via Shopify dropshipping, which requires nothing too much to start, and perfect for getting extra cashflow with little upfront investment.
That’s true. The beauty of dropshipping is that as eCommerce store owner, you can just focus on branding and leave the rest with suppliers. Before jumping into dropshipping, it’s indeed important to know the risks and budgets, so you don’t surprise yourself later in the process.
How much does dropshipping cost?
We break the dropshipping budget to three parts: store, dropshipping, marketing. now let’s take a look one by one:
Part 1: Building a Store
There are other options such as WordPress, but Shopify is so far the most intuitive turnkey solution for building a store. Without knowledge to any coding or hiring any web developer, you can set up store in a few clicks.
The Cost: varies from 29 USD to 299 USD per month
the Shopify pricings is quite transparent. while the 29 USD would be enough for beginners since all supports unlimited amount of orders.
Part 2: Dropshipping
With dropshipping, you have third party to supply you with products, and help you ship products to your customers. You basically just need to pass customers’ order information to dropship supplier, and pass the shipping and tracking information to customers after the supplier have orders fulfilled.
Lots of newbie dropshippers use Aliexpress, which indeed has widest selections to choose from, and everyone knows how to shop, so all you need is an email and a credit card.
BUT Aliexpress is actually made for consumers. Having multiple orders in one day may cause account and credit card issues.
We do see lots of complaints on slow shipping, lost package, and fake tracking numbers that don’t work. The shipping usually takes longer than 20 days, which potentially sabotage your ratings with Facebook advertisement.
Another issue with Aliexpress dropshipping is that as a buyer on Aliexpress, you have absolutely no control over inventory – What if you have ten, dozens, hundreds daily? Copying and Let alone the restrictions of daily transaction.
Lastly, the cost is actually much higher (again because this platform is meant for real B2C consumers).
With HyperSKU, the one-stop dropshipping method, you can fulfil orders with just a few clicks – pay for multiple orders in one payment,
The cost: monthly subscription starts at 19.99 USD (selling a few products would already cover it)
Offering a 2-month subscription free for limited time only! No PayPal required to sign up
Marketing: Tell potential customers about your products
Here comes the most critical part: getting customers and orders. People might get really excited by the idea of eCommerce and end up struggling finding customers. So, eCommerce opens for everyone, but success is not for anyone.
With the great power of social media, you can gain followers and establish influence with sparing no cents. While common practice to kickoff fast is running social media advertisements on Facebook and Instagram.
You need to create content, images or videos, and an Advertisement account to get started. Then Hiring freelancer for any above,
What we’ve heard from the successful dropshippers is that the marketing budget is approximately 10-30% of the selling price.
The cost: cost per purchase from zero to a few bulks (depends on your strategy)
Conclusions
We can easily see that with dropshipping you can start with minimal investment. The cost of setting store and marketing are upfront, and products and shipping are after customer making purchase.
Another tip good to know: Let professionals help you save time and money, and avoid unnecessary loss.
With HyperSKU, you are rest-assured to let professionals supply good quality products, ship them in fast and reliable way, and minimize your manual work around order fulfillment.