Is Dropshipping Worth It In 2024?

dropshipping better than other businesses out there

Photo by Paolo Chiabrando on Unsplash

I see many people ask this question online. Reddit is filled with this kindof question. If you have doubts regarding this business then I have the right answer for you.

I am sure you must have heard something like this —

1. Is YouTube still worth it?
2. Is Instagram still worth it?
3. Is selling on Etsy still worth it?

and so on. I hope you are getting it, right?

Many people go on in the never-ending loop and fail to understand that every business is worth the effort. Believe me, whatever business you choose, people around you will raise the questions again and again.

So instead of listening to others, I prefer trying things myself to see if it’s worth the effort or not. At least 3 months are enough to find out the truth :)

Is Dropshipping Worth It In 2024?

What Is Dropshipping?

E-commerce has many kinds of flavors. When I started out, I got totally confused because some were selling POD products while some selling digital products. I found some selling their own products and then there were some reselling other’s people products.

From all dropshipping was the best option.

I can choose from a variety of products and suppliers without the effort to create products myself. Believe me, product creation takes a lot of time and no one has that kind of time, right?

So this is what I do —

1. I promote a product that I still don’t own :)
2. Then when I get the order and the money I find suppliers and place the order on my customer’s behalf.
3. The supplier is responsible for delivering to my customers on time.
4. I sell expensive products that I buy cheap :). That’s how I make money. My friend this is dropshipping!

Benefits of Dropshipping

1. Low Startup Costs — I don’t have that kind of money to invest in products that I am not sure whether people will buy or not. So I think dropshipping works pretty well in this case.
2. Low Risk — The risk is pretty much low in this business. If you need a less risky business without much investment then I think this business works well for you.
3. Fast, Flexible, and Scalable — I am sure we all know this right? I am a fan of doing businesses that are scalable and flexible too.

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Pitfalls of Dropshipping

Now I cannot end this article with only the benefits of dropshipping. I think you have the right to know what problem I faced while doing this business.

1. Lower Profit Margins — Profits are really low. I mean I take less risk so promote cheap products only. If you want you can go for expensive products. But I keep it to cheap ones only.
2. Dependency on Suppliers — I hate when suppliers deliver products late and I have to answer my buyers.
3. Dealing With Multiple Suppliers — This is the top problem that every drop shipper ever faces. It’s hectic and time-consuming. Avoid this at all costs. Keep a few suppliers only.

Best Practices for Starting Your Dropshipping Business

1. I always go with products that have multiple suppliers available
2. Not a fan of expensive products. I make sales from cheaper ones.
3. TikTok and Instagram are the best ones to promote dropshipping products. :)

Frequently Asked Questions (FAQs)

What is the best dropshipping platform?

The best one out there is Shopify but you can go with Wordpress (woocommerce) as well.

Is dropshipping suitable for beginners in e-commerce?

Definitely! You dont need any skills before you jump into this business.

What kinds of skills do I need to master to succeed in dropshipping?

Marketing. For me its definitely the one that everyone should learn.

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