After moving on from the world of surveys I decided to try out a venture called Drop Shipping. Drop shipping is another appealing strategy, Basically the whole idea of drop shipping is to find an item from a wholesaler that you think will sell , list the item on a popular auction site like Ebay for a higher price to make a decent profit, Wait till someone purchases the item you listed and then buy the product from your supplier , in turn the supplier ships the item to the customer and the deal is complete.
I know it sounds like a large chain of events to sell one item but it is actually very efficient. The reason this is a good way to sell products is because, You have no inventory to keep, you don t end up with unsold items in stock and you don t have to personally ship the item to the customer. The bad aspects of this can be, The product not working for the customer. I have encountered this problem, The customer will contact you back expecting a refund but the problem is, You no longer have the full amount except for the profit, This can pose a scary problem, You must pay the customer back the full amount of the purchase which means it will be out of your pocket.
Aside from the bad aspect one of the problems presented is, finding a trustworthy wholesaler who sells at a decent price. Many wholesalers are located in Asia so this provides for a cheaper price to you so that means more profit! Some wholesalers I have run across are Chinavasion, I have worked with them and had a satisfactory outcome so far aside from the problem mentioned earlier. Some other wholesalers you might want google are, DHgate and direct wholesale products. I have not personally used them but they are located in north America which is a major plus.
They main key to getting good products is to think outside the box, try contacting new wholesale companies you have never seen online before, a lot of the time the hidden wholesale companies are the jewels, they offer good products at much lower prices, if you can get a hold of some wholesalers directly either by phone or e mail you will be saving a lot of money because most of the online wholesale sites are middle men. You might ask yourself what would be the problem with that? Well the only problem is middle men have to make a profit also, so you are not getting the best deal.
A key to gaining good relationships with companies is to know what you are talking about and be professional about it. I hope these tips can be beneficial in helping you to reach your goals as an online entrepreneur. Wholesale might not be your thing but that s fine. I will continue to update with different way to make money while minimizing your investment and even having no starting investment at all.
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