Not sure which are the best items to dropship? Dropshipping is by and large a pretty risk-free way to get started online. But that doesn’t mean you should waste your precious time listing items that won’t sell. Just because it’s risk-free, doesn’t mean you should just start flinging things at the wall to see what sticks.
If you can put a little thought and research into the products you’re going to sell, you’ll be rewarded with more sales and more money. It could be the difference between making $100/month and making $10,000/month.
Why you should pick the best items to dropship and not list hundreds of products
One word: Time. Actually two words, time and fees.
Fees are a big issue on eBay, which (as any seller will tell you) is a fee-hungry beast of a marketplace. On eBay you might be able to get your first 50 listings up and running for free, but it depends on which category you’re in. You could end up paying 30c per listing otherwise. Not a big deal for a few listings, but if you were listing hundreds of goods it starts to add up. You want to pick the best items to dropship and list on eBay so you only pay fees for products that will sell.
Time is the bigger factor. The following things take time…
- Researching the product, finding it in the catalog.
- Writing a description, including any technical specifications.
- Sourcing and adding photos
To do this for a hundred items pretty quickly turns into a full-time job. And even then you’re not guaranteed to make any money. Would you work a full-time job for no guarantee of pay? I sure as heck wouldn’t.
So instead of wasting all your time creating hundreds of listings that might not make a buck, spend a little extra time researching products that you know people want to buy, and that you can purchase for well below retail products – in other words, the best items to dropship because you know you’ll make make money.
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I’ll tell you another thing. The big-time sellers who are doing this for a living and raking in the cash aren’t “flingers”. They have some simple criteria a product needs to meet before they’ll give it a go. Here’s the criteria they use to pick the best items to dropship…
Criteria #1: You can list it for a competitive price
The best items to dropship are ones you can source for prices significantly lower than their going price on Amazon and/or eBay.
How do you do that? The trick here is to find the best dropshipping companies who will sell you items for prices below the retail prices being fetched on Amazon and/or eBay. the price on eBay and Amazon is significantly more than what is in your dropshipper’s catalog… you’re probably onto a winner. You can list your item for the going price on Amazon/eBay yet still make a health profit.
Criteria #2: It’s something that people actually want
It’s no good listing a product if nobody wants to buy it. The best items to dropship are products that have a healthy buyer demand. It doesn’t matter how cheap you source it… if there’s no demand, there is no sale.
How you figure out whether there is large enough demand is a big topic, too big for this article. For a demonstration of how I do it, make sure you grab my more detailed ebook at the end of this article.
Criteria #3: There isn’t a crap-storm of fierce competition
Competition is a pretty dirty word for online sellers. The best items to dropship are ones where there is low seller competition. Even if your product is in high demand, if the competition from other sellers is too fierce, you’re not going to make sales. There are two ways in which a market can be so competitive that it’s not even worth jumping in…
- When there are more sellers than buyers. If there are ever more sellers than buyers, you need to get out of there — pronto! What happens in this situation is what we call a “race to the bottom”. Everyone’s trying to undercut his competitor, prices go down, down, down and your profit goes through the floor.This often happens with really popular and obvious products — the kind of product that everyone first thinks of when they want to sell online. You get to compete with a bunch of “newbies” who haven’t realized that their prices are too low to be profitable. Anyone with any experience (or anyone who reads Wholesale Ted!) would see that there is much more money to be made elsewhere. (If you’d rather be this second kind of seller, keep reading.)
- When the market is dominated by big brands. Some types of product have big brand names that totally dominate sales. You don’t want to have to fight with these guys. Customers will naturally gravitate towards brands they know and trust, and if you’re selling a smaller brand or generic item, you’ll find it hard to sell your product for a good price. It’s better to focus on products where you’re competing against lesser-known brands.
How to find the best items to dropship… step by step
Remember that a little investment of time into digging up these low competition, high demand, competitively priced dropship products really is the secret to making good money selling online.
If you’d like to see how I find the best items to dropship (with step-by-step instructions) grab my book below. It’s free, and it might just make you a whole lot of money!