15Jun
By: Andrew Roach June 15, 2017

Budding entrepreneurs from each corner of the globe are diving into new business ventures every day in their quest to lead the live that they’ve always wanted to. It doesn’t matter if it’s their first entrepreneurial venture, or if it’s their tenth, they’ll be searching for an answer to the same question: ‘how to become rich quick?’

We believe that the answer to this question is to get started with your own dropshipping business. We’ve created this article to show budding entrepreneurs, like yourself, how you can start your own online store with ease. We’re also going to demonstrate the benefits of the dropshipping business model, and show you why it’s a great choice if you’re looking to become rich online.

Let’s get started.


What is Dropshipping?

how to become rich fast

Dropshipping is a business model that is becoming more and more prevalent in the world of ecommerce — you can create your own dropshipping business worth $1M in just a few months with the proper strategy. The dropshipping business model differs from that of a typical online store, as entrepreneurs who are running a dropshipping store never need to worry about carrying or managing inventory for their store. Instead, when an entrepreneur who is dropshipping receives an order, they’ll simply contact their product suppliers, who will then ship your customer’s order straight to their door. You can run a dropshipping business from anywhere in the world, and you don’t need to commit dozens of hours every day to make sure that your store is running efficiently.


What Are the Benefits of Running a Dropshipping Business?

If you’ve been wondering how to become rich quick, and you’re interested in launching your own online store, then you may find that dropshipping is the perfect business model for you. Entrepreneurs who enter the world of ecommerce will quickly find that there are a variety of benefits that you gain when you’re running a dropshipping business. It’s our aim to make the life better for entrepreneurs, so we’ve created a list of some of the benefits which you’ll gain when you’re running a dropshipping business:

  • Low-Risk Business Model: Many people who are wondering how to become rich are interested in starting their own business, but they may be put off by the risk that is associated with entrepreneurship. Dropshipping presents budding entrepreneurs with a great opportunity to start their own store with little upfront investment, making it a low-risk business model to start with.
  • No Commitment to Products: When you’re running your own dropshipping business you won’t be sourcing products in bulk, and then storing them until a customer makes an order. Instead, you’ll be totally flexible with your store’s inventory — you’ll be able to switch your products with just a few clicks. This also takes the pressure off you, as an entrepreneur, when you’re sourcing your store’s inventory. You’ll have the freedom to experiment with your products, and to truly find out which products your audience are interested in. This is an opportunity which isn’t possible with traditional ecommerce stores, so it’s a great idea to take advantage of it.
  • Work Anywhere, at Any Time: When you’re running your own dropshipping business you’ll have the freedom to work anywhere in the world, and you can choose your own hours — spend as much or as little time working as you want to. If you’re looking for freedom with your work, and you’ve been wondering how to become rich fast, then dropshipping is a great way to achieve that — just check out how one entrepreneur made $100k in his summer break.
  • Be Your Own Boss: If you’ve been wondering how to become a rich person, and the thought of climbing up the corporate ladder doesn’t appeal to you, then you may find that dropshipping is the perfect business model for you. When you launch and run your own dropshipping business you’ll also be your own boss. This means that you’ll be the one who decides what you’ll be working on, and the times when you work. When you’re running a dropshipping business you’ll have the unique opportunity to fit your working hours around your existing life.


How to Start Your Own Dropshipping Business

how to become rich fast

It’s a relatively simple process to get started with your very own dropshipping business. We recommend that you run your online store with Shopify — it’s the most popular ecommerce platform, and it’s already trusted by entrepreneurs from all over the globe. Once you’ve set up your store using Shopify’s platform you’ll then need to install the Oberlo app from Shopify’s app store — it’s the easiest way to start your own dropshipping business.

Oberlo is the leading platform that enables entrepreneurs to find and sell products without ever stocking any inventory. You can use Oberlo’s search tool to find the products that you’re interested in selling, and you can add them to your store in just a few clicks. We’ve created a guide that explains how you can launch your own dropshipping store with Oberlo and Shopify in less than 30 minutes.


How to Become Rich With Dropshipping

how to become rich fast

Now that we’ve covered how dropshipping works, it’s time to explain how to become rich whilst running a dropshipping business. Dropshipping is a lean way to run an online business — you won’t need to worry about managing your products, so you’ll be able to focus on growing your business, and generating more revenue. We’ve created a list of ways that dropshipping can help you to become rich:

  • Source Products for Low Prices: When you’re sourcing your online store’s inventory, you’ll be able to source products for low prices, which you can sell on with a worthwhile markup. You can also take advantage of Oberlo Supply, a platform of trusted suppliers who sell high-quality products at an affordable price point. You can access Oberlo Supply from within Oberlo’s app, and browse through our suppliers to source products from a reliable supplier.
  • Never Need Storage Space: One of the biggest worries for ecommerce entrepreneurs is dealing with, and storing, their products. It can become a hassle if you’re stuck with products that your customers aren’t interested in, which may happen when you’re running a traditional online store. However, with dropshipping you’ll never need to worry about this. Your products will stay at your supplier’s warehouse until a customer places an order, which makes it easier for you to focus on running your business.
  • Offer Free Shipping: When you’re running a dropshipping business, it’s a great idea to offer free shipping to your customers — it’s a great marketing tactic. One of the downsides of dropshipping is that the shipping times can longer than normal, but you can counteract this downside by offering free shipping, When you offer free shipping you’ll convince customers to make a purchase, and they’ll be much more understanding with the shipping times, as they’ll recognize that you’re an international business.
  • Run Your Business Online: If you’ve been wondering how to become rich online, running a dropshipping business is a great way to achieve this goal. You’ll be able to run your business from anywhere in the world, as long as you have an active internet connection. Freedom is the norm when you’re running your dropshipping business, and your success will be in your own hands. When you make sales it’ll be your effort that earned them, and it’ll be your money that you’ve just gained.

Start Your Own Dropshipping Business

Now that we’ve covered all of the benefits which budding entrepreneurs can gain from choosing a dropshipping model for their ecommerce business, it’s time to get started with your own online store. Launching and running your store with Oberlo is a breeze, and you’ll be able to get started today.

We hope that we’ve answered the question: ‘how to become rich?’ with this article about dropshipping, but if you have any further questions then please let us know in the comments section. We’re happy to help you on your entrepreneurial journey, and we want to see you succeed. Good luck!

  • Shane Romine

    very helpful ! thank you everyone at OBERLO, this site really gives you the tools to put your future in your own hands.

  • Ramat

    Hi, thanks for this article. I am new in the drop shipping business and I have a question which I have been thinking of for a while. If a customer wants to return a product bought, which address do you state as the return address? is it the original address where you purchased the goods or your own address.

  • Helen Bellart

    Hello,
    thanks for your article. We are offering dropshipping program with good porfit.
    Helen Bellart is a new fashion brand with stylish accessories that offer a drop shipping program with very high profit for every reseller. Helen Bellart´s exclusive scarves, clutch bags, silk bracelet, clothes and pareos are created from the best pure italian silk with digital printing of her own artworks. A team of professional artisans are cutting and stitching every single product by hand in Marbella, Spain.
    We give a high profits around 40 – 70 dollars benefits in every sale then you have to offer Helen Bellart exclusive Silk Scarves and Accessories in your country.
    In http://www.helenbellart.com go to the distributor area page and read how to become a dropshipping distributor in your country.
    Be one of the first person offering Helen Bellart products in your country and in Internet and be part of a big brand company that is becoming more big and strong every day!
    Helen Bellart products are shipped worldwide with free shipping included in the price.
    When you open an online business or an online eBay or Amazon account you are thinking day and night what will be the right product to be sold due the reason that exist million of products similar and the profit is very little to be competitive.
    What will make you different?
    The answer is: sell a product exclusive and unique in the market and at the mean time a product direct to women of the world that are looking for a luxury and exclusive design that will make them look pretty and originals!

    We are looking forward to hearing from you.
    Regards
    Helen

  • mcskeech

    Are you getting your products through AliExpress? Most of the suppliers will refund the customer if they are not happy (to keep their name good) and many don’t even want the product back because of how far away they are. You can communicate with the supplier directly if their website doesn’t give refund information (though they usually do), to see how they handle it. If your website business is doing well, it would help your good name too, to offer to refund items yourself. You can ask them to mail the item back to you and if it is not damaged, you could send it out with another order – or if it is damaged, ask the supplier for a refund.

  • Yoyo Nike

    Hello
    i have actually all my store in STRIPE bloked for Dropshipping 🙁

    How any of you can help me ?

  • VoiceRules

    Hey, we have been providing Voice services to ecommerce stores all over the World. Come check us out http://www.voicerules.com

  • Damir

    hey Oberol Team . Another Amazing Article about Dropshipping.
    My team is actively creating beautiful dropshipping ready online stores
    check them out at http://www.topstore.org

  • KIds Clothes

    Just started my own drop shipping site. Fingers crossed i get lucky

  • In my experience, 99% of returned goods are in very good condition. So, you should prepare to build your own local inventory of returned goods over time! … this can take away your freedom! Expect 20 – 30% returns for most ‘made in china’ items!

  • Ty’Jamin Roark

    This article doesn’t really tell you how to make real money. How do you handle conversion rates? Refunds ( which you will experience a lot with dropshipping) sometimes free shipping still isn’t good enough when items take 20 days to arrive. For dropshipping to work you are going to need to use lots of conversion techniques and some how keep old customers. Customers hate the wait time. Also try using original photos.

  • I started dropshipping using the oberlo app. I can’t say that I’ve had a lot of sales. I believe for these reasons: Shipping times are too long & everyone is selling the same products from aliexpress. I have been thinking about closing my shop down multiple times trying to decide if it is even worth it. The only other solution I can think of is buying the inventory and sending it to Amazon FBA to help with the shipping times. But that increases the risk. Every last one of my customers have written “Where is my package”, even though my site clearly say 12-20 days. The ugly truth is that people want their product in at least 5-7 days. This is my biggest hurdle toward making this a success. I’m all ears for any suggestions! I sell travel bags, throw pillow cases, and tech accessories. Should I be selling something else?

  • I agree with you. What you’ve stated are the realities and ugly truth. And even if you chose to not use free shipping, it cost too much to have aliexpress for example to ship it DHL and any other method other than e-packet.

  • Eezway Eezway

    I have had nothing but nightmare with aliexpress, Oberlo’s major drop shipping partner. Their card payment verification system is depressing, takes 3 days to appeal, then you get an approval, however if you attempt to make a card payment within 24 hours after your approval, you fail, decline again!, their explanation is, it takes 24 hours for the data to be updated. Why not send the approval email when your system has updated , you go through the same process of appeal with the same card all over again! an order could take 8 days to fullfil with them because of their poor verification process.

  • Ma & Paw Store

    Thanks for the useful knowledge. I just opened up my shop at https://maandpawstore.com to start drop shipping. I am trying fb advertising but so far no luck. I guess I will just stick with it until I get some traction.

  • Ty’Jamin Roark

    Yea Oberlo is very very helpful when it comes to automating my orders because I do get tons and tons of sales so there would have been no way for me to keep up with out this app. However I am doubting that I will have any returning customers…Really the only reason why I am doing well is because I have millions of followers on social media that helps me tons for promotion. So it is real easy to get new customers everyday but returning ones with these long delivery times… doubtful. But don’t give up. And if you need help bringing in traffic let me know.

  • Dropaship

    Hey Andrew,

    Thanks heaps for your valuable insight and resources in to the industry-shifting business model of dropshipping. With so many social changes occurring with technology advancements, I truly see dropshipping becoming a massive influence on how we move forward sustainably.

    Look forward to many more articles from you!

    Kindest regards,
    Matthew Bovey
    dropaship.com

  • Jennifer James

    Hi…I am starting my dropshipping store and need traffic. Is there any way I can coordinate with you beforehand to be establishing a coming soon- or Upcoming Grand Opening sale? Please let me know how to contact you or email me at jennifer.james2013@gmail.com ….thanks! Jennifer

  • Ty’Jamin Roark

    Sure

  • Steph

    I would be interested in gaining traffic for a store I am looking to kick off soon: stephany.g@aol.com. Thanks so much in advance!

  • Ty’Jamin Roark

    Cool. Email sent

  • SKY

    I still can no understand if the Chinese Suppliers are so dumb in setting up their own gateways to reach out to any corner of the world online. Why do they need middle handlers like us in each country? I am from Australia and I don’t see why the Chinese suppliers can not reach our shores via Web…

  • Alexis Dior

    Hello I am interested in traffic as well

  • Ty’Jamin Roark

    Ok. What’s your email

  • sharrel

    Interested in getting traffic as well : sharrelloh@gmail.com 🙂 thank you!

  • Lionel Cabral

    Hi. I would also like some advice and input: can you please email me as well: plusls@outlook.com

    Thank you. looking forward to it.

  • chanan

    Hey
    Very nice shop! I liked .
    Beautiful pictures are invested
    I would suggest uploading a video how to tie the scarves. This is very important
    good luck to you

  • ksafan0

    I too am interested in this. Would you please email me at: vgbbea@hotmail.com.
    Thanks a ton!

  • Amanda Mio

    I’m always looking for traffic ideas.. email me as well kristensfashion@gmail.com

  • donatella ojeme

    Hi Tye, please do you mind dropping your email address? i could use some help with traffic to my website, i just opened a store, thank you. Mine is donatellaoj@gmail.com just incase.

  • Larry Waltz

    Hi Ty; I could really use your help to bring in traffic. What should I do? I’m Larry; my shopify store is new….”WallyMall” I want to sell Tee shirts, Hoodies, Mugs, and Clocks….mabye even customized Jewelry. wallymall123@gmail.com

  • Ty’Jamin Roark

    Sure I will send you an email

  • James

    AliExpress is awesome. But the reality of it all is like a big o flea market for ecommerce. The issue you will face is hundreds of thousands of people are selling the same items – at the same cost however selling it at different prices. Why? Because some folks by it at wholesale selling it cheaper than yours and issuing free gifts. Think wish.com does this which allows others to buy from them since they have the money to buy in bulk. You’ll always compete with folks like this. You will have to step up your game in marketing the products and change the descriptions. Think about this; have you been to a flea market where everyone is selling the same things. When you approach a stand to buy something the person selling it says $5. They other vendor next to it says I’ll give it to you for $4. Taxes included. Think about this in a million ways. It’s rough – but doable. Just need to really think outside the market

  • Everstone

    Ty’Jamin Roak,
    Thanks for this explanation. I have been using this apps for my dropping shipping for almost a year now. I think in terms of shipping you have to look for vendors that has epacket shipping options. Its very cheap and fast (mostly a week). I kind of like your idea of marketing and I would like to know if you could help me with some ideas. I have been running adwords a lot but my conversion rates is not all that great.

  • Bohemian Flare

    I too have an ecommerce store and the WORST thing about it is using Oberlo! They dont have customer service where you can contact them if you have REAL TIME questions and it takes 2-3 days for them to get back with you with an answer! AliExpress is good but the wait time for customers is crazy!! That is the MAIN problem with dropshipping. It can be VERY hectic at times when you don’t have the crazy sales you want.

  • Darrell H

    OK, Ty’Jamin Roark
    You’ve let the cat out of the bag :)) We could all use your assistance . Darrell Hollinquest DHQprivate@gmail.com thanks in advance . Id like to launch a project with you. You’d be ple https://uploads.disquscdn.com/images/654f9b089d514e2bce48ae3dfe65e7775671d66fff8e8c8509fb2c7083275f7f.jpg ased !

  • Darrell H

    Im here to learn and help others,,,You seem to have the Midas Touch…lets chat ..DHQprivate@gmail.com Darrell Hollinquest Team https://uploads.disquscdn.com/images/bda90985df4cda6084e1889d441cfc40c2c27d6cf772bce40b5fa2cee0141219.png

  • Ty’Jamin Roark

    Adwords and fb ads have been really slow for me compared to my success on my Instagram pages. Drop your email and I can talk to you there.

  • Ty’Jamin Roark

    Cool I’ll email you now

  • Everstone

    Here is my email: everstonealerts@gmail.com

  • Steven Zimmerman

    Hi Ty,

    I could use your help in bringing in traffic. Thanks so much.

    Steven stevezimcr@yahoo.com

  • Geraldine Bengil

    Please help me for traffic methods heres my email gashangel28@gmail.com

  • Geraldine Bengil

    Me to please Gashangel28@gmail.com

  • Samoras Corner

    Hi Ty, would like to chat with you about your traffic ideas. Have tried FB ads (not that long) and was getting .10-.13 cpc, did not get many sales from FB. However, Printrest I get more traffic and do little promotions if none at all on Printrest. Any help would be great. email – admin@knmplace. – Kyle

    thanks in advance..

  • Maria Rose

    I would focus on what sells the most as soon as you have enough $$ buy the item in bulk on alibaba and brand it…search alibaba for the item then begin communicating with them..they will even send you a free sample first( minus shipping)
    If you like the quality…you can buy in bulk and shipping should be pretty fast..depending on the product.Good Luck