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Can You Make $10,000 Per Month 'Drop Shipping' On Amazon?

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Can You Make $10,000 Per Month 'Drop Shipping' On Amazon?

A Quora user recently asked how someone can make $10,000 per month via Amazon.com, Inc. (NASDAQ: AMZN)’s e-commerce platform and a technique known as "drop shipping." A drop shipping retailer doesn’t produce or own the products that he or she sells. Instead, the drop shipper purchases inventory from a third party as it is needed and profits by selling the inventory at marked-up prices.

The Quora question sparked a rigorous discussion, and here is a sampling of posters’ advice.

Start Somewhere Else

Zach Pinnell warns new drop shippers that, contrary to popular belief, they shouldn't start off on Amazon or eBay Inc (NASDAQ: EBAY)’s platforms.

“I started off on eBay at 14 years old and made thousands of dollars,” Pinnell explained. “But I could have made a lot more money had I put that same time and effort into my own, separate store.”

Pinnell also noted that new drop sellers shouldn’t spend too much time stressing over the perfect product and should focus more on setting up infrastructure.

“If I feel like I can’t get anything to catch, I just repurpose the website to try the next product/story… No financial loss. I will often repeat this process several times before I get a ‘catch.’”

Related Link: How Has Elon Musk Been So Successful So Quickly?

Look Beyond The States

Josh Elizetxe urged Amazon drop sellers to consider UK markets because it's easier to rank.

“You’ll need a system for soliciting reviews and don’t be afraid to lose money on your first batch,” Elizetxe advised.

Branding Is Important

Ron Rule says branding is critical in a crowded retail space, so drop sellers should focus on making their listing stand out.

“Take your own high quality photos so they aren’t recognized as the same manufacturer stock photos everyone else uses, write your own description, and if you really want to do it right apply to get your own UPC code,” he added.

 

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Posted-In: drop selling drop shipping Josh ElizetxeEducation Entrepreneurship Crowdsourcing Success Stories General Best of Benzinga

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