Dropshipping Explained | Kmart $39, eBay $99, 153% Profit
Transcribe of “Dropshipping Explained | Kmart $39, eBay $99, 153% Profit”
Hi guys, Neil Waterhouse. Why are people buying this mini trampoline on eBay for $99, when they could just go to Kmart and buy it for only $39? That’s nearly 60% cheaper. Or purchase this blower on eBay for $159, when again they can just go to Bunnings and purchase for only $109.
Step-by-step how anyone can build a seven-digit online business
This week’s quick video is drop shipping explained, but before I get started make sure you hit the subscribe button, to the no fluff, ad free channel that puts out weekly videos teaching step-by-step how anyone can build a seven-digit online business, from their home using eBay and Amazon, and using less than a hundred dollars. So, first of all, just so we’re on the same page.
The term drop shipping
The term drop shipping means selling an item, and then after you’ve sold the item and the customer’s paid you, you then order the item from your supplier and your supplier ships the item direct to your customer for you. You never see or touch the item, you supply does all the hard work for you of warehousing the inventory, ordering the inventory from the manufacturers, financing the inventory until it sells, and then packing and shipping the inventory to your customers for you.
Drop shipping is also called virtual inventory
In the industry, drop shipping is also called virtual inventory. With drop shipping, you’re always cashflow positive, as you get paid first before you purchase any inventory from your suppliers. So the question is, why do people pay higher prices on marketplaces like eBay, Amazon, Gumtree, Facebook marketplaces and websites like Shopify stores, etc, when they could just purchase the same items cheaper from the drop ship suppliers?
Some people do, do the research and find the suppliers
The answer is, some people do, do the research and find the suppliers, however, others don’t. It’s a similar question that I get all the time, as to why do 9%, that’s 9, not 90, but 9 which is one less than 10, 9% of all orders for our Australian operation come from buyers in other countries. Now, when you think about it, it’s pretty crazy. It’s pretty much everything that we sell online in Australia comes from China, Malaysia and Vietnam.
Why is somebody purchasing from an Australian eBay, Amazon seller?
So why is somebody in say California, purchasing from an Australian eBay, Amazon seller? If that buyer had just done more research they almost certainly would have found USA-based suppliers that we have that have much lower shipping then from here in Australia. Pretty much everything that we sell here in Australia is available in all other first world countries, like the USA.
Humans are creatures of habit
Bottom line is, humans are creatures of habit. Sometimes people will spend the time researching to find low prices. Other times they’ll just log on to their favorite market place. You know, i.e. Amazon, eBay, Facebook marketplace, etc, and they’ll just hit the buy button. There’s also different personality types. Some personality types, my own colleague center, like to do research. Others don’t. Now I’m not going to go into personality types on this videos as I’ve done that before but…
There is different personality types
There is different personality types. Some personality types will spend a lot more time researching. Others won’t. Note though, I’m not recommending that you use Kmart or Bunnings. In fact, they’ve been saying for many years not to use Kmart as a supplier, as Kmart puts their branding on their boxes which can create what is known in the industry as buyer confusion.
Free list of over 900 popular drop-ship suppliers
By the way if you want to see more popular drop ship suppliers, I’ve got a free list of over 900 popular drop-ship suppliers for a previous week’s video. And you can download that right now for free. I’ll put a link on the screen and below.
I hope this video helped you with explaining drop shipping
I hope this video helped you with explaining drop shipping. Please leave me a comment below and make sure you hit the subscribe button to the no fluff, ad free channel that puts out weekly videos teaching step-by-step how anyone can build a seven-digit online business from their home using eBay and Amazon and using less than a hundred dollars.
New dropshipping book 2024, Learn how to go from zero to seven digits in just six months through effective dropshipping techniques. Start your journey to dropshipping success today.
Until next week. Stay safe.
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Until next week. Stay safe. List more. Sell more. This Neil Waterhouse.
Free download over 900 popular dropshipping suppliers. Please visit the link below and download now
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Link to eBay USA
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Link for eBay USA with the option to call
https://www.ebay.com/help/account/account-getting-started/setup-verify?id=4191&from=ContactUs
Link to Text Now
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How To Optimise & Increase eBay Sales Fast
https://www.neilwaterhouse.com/how-to-increase-ebay-sales-01
Understanding eBay’s Cassini Search Engine To Get More Sales
https://www.neilwaterhouse.com/cassini
How to find Local Dropship Suppliers
https://www.neilwaterhouse.com/local
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How To Find Dropship Suppliers Using a Free VPN, please check the link below
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How To Find Local Dropship Suppliers
Hi Neil,
I’ve been away from the course that I bought, is the course still running
or do i have to buy it again?
Eddie turpin
Hi Eddie,
Dropship Formula was a 6-week course and has now finished.
You do have access to all the content and the existing comments though for 2 years although the comments are closed from adding new comments/questions.
As another option, I have a private coaching group for people Like yourself who have completed the Dropship Formula course and would like to work with me on a one-on-one basis to rapidly grow your business.
It’s back from the future , I’m looking for the missing link.
Let’s say I find an Item on eBay.
How do you find the local supplier that meet the criteria
To be the drop ship supplier , I hook up to?
Hi George, please see https://www.neilwaterhouse.com/drop