This post is a contribution from Vincent Wong, part of the Empire Flippers content team. Today, he’s going explain why dropshipping is still a viable internet business in today’s day and age and share all about how to increase the value of your store. Let’s get into it!
“Dropshipping is dead.”
This phrase has become an increasingly popular sentiment recently, implying that dropshipping isn’t a worthwhile business to build.
We beg to differ.
Entrepreneurs continue to find success with dropshipping due to it’s low-risk and low barrier to entry thanks to minimal overhead costs. This business model also has more potential to scale compared to simple retail arbitrage. While you can make a quick buck buying retail items cheaply and selling them on other marketplaces, it’s not a sustainable model since it’s less of a real business to start with.
The caveat with dropshipping is that it does typically have relatively thin profit margins so success is dependent on the volume of sales. Generating more sales is always nice and we have some strategies for that, however it’s not the only way to increase the profit margin and resale value of your store.
