Dropshipping, or starting a brand in 2019?
Which is better?
Orange County, CA
There's a ton of success stories about dropshipping businesses. Apparently, a lot of people have become millionaires from this business model. Also, a good number of people have become millionaires by teaching and preaching about this buisness model.
Now, does that mean you should start a dropshipping business right now?
Short answer; Yes.
But, there's a twist here, that you should consider.
There are tons of online stores out there, selling almost all the things that you can possibly think of. That's because apart from dropshippers, there are online shops, and brick-and-mortar stores, that are expanding in to the internet, because that's where everybody is at. So, the market seems pretty saturated.
Everyone who advertises the fact that they've made a lot of money with dropshipping, started years ago, and thus, had an advantage, because people are naturally drawn to the newest trend. They were the first ones in their respective niches, so people bought from their stores.
But, the store that you're going to start, definitely won't be the first of its niche. It probably won't even be on the top 5 or 10 stores in the niche.
And guess what?
The dropshipping 'trend' is over now.
It's not COOL anymore. It's just another normal thing, which means that all the other laws that apply to normal things, also apply to dropshipping.
But that doesn't mean you shouldn't start a dropshipping store.
It just means that you're going to need something else.
It's called branding.
Here's why you'll need branding:
You can only get so far, selling other people's products, or unbranded products. I mean, you're ordering that product from a wholeseller. So, what's guaranteeing you, that another person isn't going to come over with the same product, and a cheaper price, and just steals your market quota?
But when you have your own brand name on the products you sell, it's pretty hard to compete with you, because you're a brand. Even if they create another brand themselves, and came after your market quota, you'd still have some customers left, because a brand always captures, and retains its customers - provided that you have a quality product, and you have your marketing game perfected.
Branding is a long-term strategy. A brand name always last long, even with ups and downs. People are attracted to brands, and they stick with them, assuming that the brand plays its cards right.
So, yes, you should start a dropshipping business. Pick a niche. Pick a product. Pick a couple of vendors. And then decide on a brand to put on the product. Go all-in on this. Website, logo, tagline, social media, models and influencers (if you can find / afford them), etc. Even trademarking, if it's possible. There are really easy and cheaper ways to get all these done.
Remember. A brand is long-term, and it always wins, if you play your cards right.