Hi,
I have been reading a lot about setting up an estore & drop shipping since coming across this thread. https://news.ycombinator.com/item?id=5377821<p>Just wondering, is ecommerce and drop shipping one of the surest and most direct ways to make money online?
I understand that it is unlikely that it will make you a billionaire, but it seems like with a bit of tech/SEO work and the right niche you could make a nice living for yourself.<p>Is this a fair assumption? I would be very interested in hearing from anyone who is running an ecommerce site or has tried and failed.<p>Thanks
Bad assumption. Plenty of ways (too many to name) that can make money online. Some harder than others and ecommerce, drop shipping, and the like comes with its own set of challenges (big or small). It's more on how you execute something than it is thinking something will be a sure or more sure way of working
Speaking from experience, there is very little margin in drop-shipping so you need to do a lot of volume. To do a lot of volume you really need to be spending on ppc ads. If you pour your heart into this and do about 1mm in sales a year you can expect to clear 80-120K. Just to warn you, to get to this level it might take 3 or 4 people working fulltime.<p>Making something and then selling it would be a better bet, but therein lies the rub. Once you buy product you need to house it and eventually ship it.