I want to invest in a Dropshipping business, but I don't know how lucrative it is, and the challenges one may face.
Those who want to sell their books online normally hype these online businesses, so it makes it difficult to ascertain the true nature of those businesses.
If you have any idea how lucrative it is and the challenges I may likely face, please share.
Thank you.

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Pinkybush:
I want to invest in a Dropshipping business, but I don't know how lucrative it is, and the challenges one may face.
Those who want to sell their books online normally hype these online businesses, so it makes it difficult to ascertain the true nature of those businesses.
If you have any idea how lucrative it is and the challenges I may likely face, please share.
Thank you.

You don't need to invest a dime on dropshipping. You are to invest in learning digital marketing. YouTube is best for you.

Once you learn digital marketing especially Facebook ads you can any product and dropship.


Dropshipping means selling other people online at a higher price and taking profit. The owner of the product delivers it to your customer and sends you your commission.

It's one of the best business in Nigeria right now for those with little capital

IMO01:



You don't need to invest a dime on dropshipping. You are to invest in learning digital marketing. YouTube is best for you.

Once you learn digital marketing especially Facebook ads you can any product and dropship.


Dropshipping means selling other people online at a higher price and taking profit. The owner of the product delivers it to your customer and sends you your commission.

It's one of the best business in Nigeria right now for those with little capital

Thanks so very much

philip2470:
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Pinkybush:
I want to invest in a Dropshipping business, but I don't know how lucrative it is, and the challenges one may face.
Those who want to sell their books online normally hype these online businesses, so it makes it difficult to ascertain the true nature of those businesses.
If you have any idea how lucrative it is and the challenges I may likely face, please share.
Thank you.

It's lucrative if you've got everything in place - the right niche, strategy and cash or budget. Seriously, the last one is still as important. You still need money to make money. Though you don't need money buying inventories or stock products, you need to budget for things like your website and marketing to reach a wider audience. There's pretty much nothing to dropshipping. It's a really lucrative business. The only people who fail in this business are those who chose the wrong niche and/or didn't have solid strategies.

Ask me anything about drophipping from idea stage to growth. And you're right, those who publish ebooks on them hype this kind of online business without highlighting the pitfalls and addressing them.

princely4ever:


It's lucrative if you've got everything in place - the right niche, strategy and cash or budget. Seriously, the last one is still as important. You still need money to make money. Though you don't need money buying inventories or stock products, you need to budget for things like your website and marketing to reach a wider audience. There's pretty much nothing to dropshipping. It's a really lucrative business. The only people who fail in this business are those who chose the wrong niche and/or didn't have solid strategies.

Ask me anything about drophipping from idea stage to growth. And you're right, those who publish ebooks on them hype this kind of online business without highlighting the pitfalls and addressing them.

Like how much should one budget for this business?

Pinkybush:
Like how much should one budget for this business?

You may be surprised if I told you! I don't want to baffle you or others, but I'll help you out on what you should know to determine the cost breakdown and what it'll cost you in total:

How much one should budget is influenced by or mostly depends mostly on:
- your financial capacity,
- your dropshipping business goals (e.g do you intend to scale? this in turn impacts the next factor – ),
- your preferred ecommerce platforms e.g shopify (hosting plans on shopify vary with price, and your hosting plan still depends on the other factors above... vice versa)

Next, your cost of marketing. This varies, too, and still depends on the first two factors above, including your marketing strategy which is necessary for success.

Then, you'd also be working with some shopify plugins, most of which are paid. They help automate your business process and are necessary for customer and business success.

So, in summary, here's almost all you need for your cost breakdown and should consider for budget:

- Ecommerce hosting plan
-Marketing
- Ecommerce plugins.

You don't need anything else, do your findings on the costs based on this, and do the cost breakdown to get the total cost.

Then the question is do you have a "budgeting strategy" to help you decide whether you're buoyant enough for this business?

princely4ever:


You may be surprised if I told you! I don't want to baffle you or others, but I'll help you out on what you should know to determine the cost breakdown and what it'll cost you in total:

How much one should budget is influenced by or mostly depends mostly on:
- your financial capacity,
- your dropshipping business goals (e.g do you intend to scale? this in turn impacts the next factor – ),
- your preferred ecommerce platforms e.g shopify (hosting plans on shopify vary with price, and your hosting plan still depends on the other factors above... vice versa)

Next, your cost of marketing. This varies, too, and still depends on the first two factors above, including your marketing strategy which is necessary for success.

Then, you'd also be working with some shopify plugins, most of which are paid. They help automate your business process and are necessary for customer and business success.

So, in summary, here's almost all you need for your cost breakdown and should consider for budget:

- Ecommerce hosting plan
-Marketing
- Ecommerce plugins.

You don't need anything else, do your findings on the costs based on this, and do the cost breakdown to get the total cost.

Then the question is do you have a "budgeting strategy" to help you decide whether you're buoyant enough for this business?

Hello I have already built my woocommerce store already for dropshipping but am stock at payment gateway any advise on the one to use from here in Nigeria. Thanks

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