Pros and Cons of Dropshipping
Dropshipping products has become a great way to start an online business quickly however it does have it’s pros and cons so in this video we are going to talk about the pros and cons of starting a dropshipping business and things to look out for.
• Pro: You can get started really fast and find lots of products to sell
• Pro: You don’t have to order the inventory up front which saves a lot of money on start-up costs plus saves you the risk of losing money if the product doesn’t sell.
• Pro: You can test out a lot of different products easily with your audience to see what they are the most interested in buying.
• Con: No control of the product or quality control because you aren’t managing it personally. This is why it is key to order the product first to test out the quality before you start selling it.
• Con: Long lead times because a lot of products are shipped from other countries like China and can take 3-4 weeks to get to the customer.
• Con: More customer support needed either based on the long ship time or the product’s quality being different than expected.
• Con: No bulk pricing discounts because you are ordering the items as the orders come in vs buying in bulk for a lower price
Although there are a lot of cons dropshipping can still be a really great business model especially as you are starting out and there are ways around some of these cons like using our favorite app Spocket which features and verifys products to dropship from the US or Europe.
We will dive more into the different Shopify apps in this series and how to set them up so if you are interested in dropshipping make sure you subscribe and stay tuned for 3 other videos in this series all about how to successfully dropship for your business.
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