Here’s the only way you’ll earn $500 bucks in one day this summer
Being strapped for cash is one of the worst feelings in the world. You run from dresser to dresser in your living arrangement checking under the dresser’s contents for any coins you may have carelessly tossed in. When you’re finished, whether you found anything or not, you’re disappointed in yourself for having to do that. In the summer, the problem is worse because staying inside where there isn’t money to be spent isn’t ideal — social media tells you that you should be partying at the beach with hot twenty-somethings. Whether you need $10, $100, or $500, you’ll find that this method below will bring you these amounts — and more, if you put in the work correctly. Don’t worry, it’s not a bank scam, ponzi scheme, or any other quick money making scheme you think you know about. The following GIF should be similar to your excitement level currently.
How many online stores have you visited in the last week? Let’s pick a random one: the Supreme store. The website instantly sells out when it updates with new merchandise. When people buy it, the merchandise is pulled from a warehouse and mailed to the person. Since the Supreme store is an online representation of all of the inventory that the company currently has, it qualifies as a business. Does that definition sound right to you?
What if we told you that you could make a store and sell items without actually owning the product?
Is the following GIF your excitement level?
It’s time for us to explain what our preferred method for earning money this summer is: Dropshipping.
A dropshipping business is an online store that sells product without actually having it. The term “drop-ship” is defined by the Oxford English Dictionary as “move (goods) from the manufacturer directly to the retailer without going through the usual distribution channels.” You’d be selling product straight from the manufacturer to the client through an online store.
First, you’ll need to find a niche — a fancy word for specialty. What will people want to buy? Is it easily available anywhere else? Why would people want to buy from you? Once you answer these questions and have your niche, find the item(s) you want to sell and create an account on an e-commerce website such as Shopify and Oberlo. Both services offer free trials so you can make sure you want to sell the items. Afterwards, you’ll be paying somewhere around 30 bucks a month.
After this is done, now it’s time to find places that carry what you want to sell. Truth be told, you can use any place like Amazon or Walmart. The reason that most people don’t use sites like these is that you can’t buy in bulk — and it may be a little harder to get a profit. Places like Alibaba and Aliexpress enable people to purchase in bulk — but let’s not get ahead of ourselves. We just want to know that they have the item you want to sell. So for right now, let’s say they do. Good.
Now what’s left is to make the listing.
Find a creative name for your store and then create the product description. Lastly, you’ll want to find great pictures of your item to input. Once you have all of that prepared, you’re ready to sell. The very last thing to do is find places to market your item for sell which should be easy if your niche is creative!
Does this sound confusing?
Let’s run a quick example:
Brandon’s wallet is dangerously low. He wants to raise enough money to get his girlfriend a new MacBook air in a week’s time but doesn’t get paid again until the week after. Looking around online, he sees that there aren’t many places that people could find authentic boar brushes. He decides to make a Shopify account and creates an online store called Brushporium. Once he’s done, he looks around online and finds boar brushes in bulk on Alibaba:120 handle-less boar brushes for $75. He decides to go ahead and pull the trigger on the purchase. To further separate his brushes from ones that can be found at local stores, he decides that he will paint them different colors with custom designs using his father’s equipment.
He spends twenty minutes on Photoshop editing the brushes backsides to show them being available in different colors. Once he’s done, he decides on a price point after using his phone’s calculator. Since each brush costs him 63 cents he decides to sell them for $5 which includes the labor of him painting them. Since he purchased 120 for $75, if he sells all 120 at $5 each for $600, he stands to make a $525 profit. Giggling with glee, he finishes creating his store and advertises it on wave-making forums where it instantly takes off. By the next morning, he has made $525. Instead of spending it, he decides to pocket some of it and buy another shipment to continue making more money. Instead of one MacBook, now he’ll be able to get himself one as well.
Brandon found a niche and made his money in one day only. It’s not just a fantasy scenario — people do this all of the time. This person on Reddit claims to make $100,000 per month by running a dropship business. So $500 is on the low end of the totem pole: you can make so much more, so fast. Since you aren’t spending money until someone buys the product, you have nothing to lose by giving it a shot.
Of course there’s more work to be done, like shipping the item and things like that, but once you see that there’s an interest in your product it should be easy to get these things done. With summer in full swing, there are many products to dropship. Andrew Roach, a content writer at dropshipping company Oberlo, recommends a number of products for the hot weather including strapless bras, face masks, passport holders, and sundresses. All of these things can be bought in bulk at an extremely low price and be sold for a lot more.
The possibilities with dropshipping are endless- you just need to be willing to put in the initial work. Do you have 20 minutes to spare to make $500? $1000? $15,000? Take it from GIFITIZE: study the internet and find something you want to sell. Turn it into a profit so you’ll have some extra spending money this summer.