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Drop shipping, as I mentioned in Part 2 of this course, is a simple method of selling a product without actually having to ever warehouse, pack or ship the product yourself.
Drop shipping is unheard of by most people but a great way to make money. There are several marketers I know of making a lot of money with drop shipping, I even know of one guy making over 7 figures a year selling thousands of items a month without ever seeing a single one of them.
Let's take a closer look so you can better understand how drop shipping works.
There are many companies or warehousers that stock large volumes of many different products.
They offer these products at warehouse prices to people and other businesses interested in retailing them.
But the great part is, these warehouse companies (drop shippers) don't expect you to come around in a truck and pick up half a ton of product to stock in your garage.
Instead, each time you sell a unit of their product the following will happen:
- Customer pays you money and you receive their shipping details
- You notify the drop shipper of the sale and foward the shipping details
- Drop shipper sends the product to the customer and sends an invoice to you
- You pay the invoice out of the customer's payment and the remainder is your profit
It sounds labor intensive but most processes can be automated so you have to do very little at all on this end.
Your main responsibility, when drop shipping, is selling to the customer.
You need the following:
- A venue for selling - for example, your own website, eBay or a Yahoo Store
- Products to sell at a profit - many companies claiming to be legitimate drop shippers are actually bogus and the products they are selling aren't at warehouse prices. I'll tell you soon where to find the best list of 'real' drop shippers available anywhere.
Drop shipping is one of the few methods I haven't personally tried, but it's definitely a method that interests me and I plan to test it in the future.
There is a very good free book I suggest you read if you are interested in drop shipping, it is from reading it that I know as much as I do. The author of the book I'm about to mention is also the creator (with his partners) of the recognized best resource for finding legitimate drop shippers. I read it as well. Over 700,000 products searchable by name or brand.
I highly recommend you at least read the free book:
Free Drop Shipping Book
Next time we will be taking a closer look at earning an income from ad revenue. John Reese, a well-known and very successful marketer has termed the phrase VRE, Virtual Real Estate. We'll look at how you can build your own VRE empire.
Until next time,
Remember, persistence pays off - BIG TIME
Murray G. Hughes
Murray Hughes
Read another article I wrote on drop shipping
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Murray Hughes
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