I completely understand your situation, you’ve got a job you either hate and need a change or you just need more money or most likely both. I have been in this position and know the feeling and can therefore give you my advice on the best way to turn dropshipping into a side hustle and ultimately, a full-time hustle.
If you’re here for the simple answer as to whether dropshipping can be a side hustle, I won’t keep you waiting:
Dropshipping is ideal as a side hustle as it requires little start-up costs and you can do it all from your laptop. Once you have a dropshipping store up and running, you can run it successfully for less than an hour a day with the potential of large profits and turning it into a full-time hustle.
If you’ve always worked a full-time job and now you’re looking to create a dropshipping store part-time, you’ve at least taken the first step. Most people working a job don’t even consider an alternative and this is because they have a limiting belief system when it comes to working. They have always been told the only way to make a living is to have a job to provide for their family. Trust me, there are better ways!
Is Dropshipping Worth it as a Side Hustle?
It doesn’t matter where you are in the world, as long as you have an internet connection you can run a successful dropshipping business on the side. You can be living in Australia, purchasing products from China and selling to customers in the USA all from your phone whilst you’re meant to be working at your day job.
Once you have learned the ins and outs of dropshipping, you can run it part-time and if it really takes off, you’ll be shocked at how much money can be made.
The reason for this is the ability to scale a dropshipping business so fast. Compare this to a regular brick and mortar store where you need to order all the inventory, wait for it to be delivered and hope it sells. If it doesn’t you’ll be in for a big loss. With dropshipping, you only order inventory after your customer has purchased the products taking away all the risk. As long as your supplier has the stock you can scale a business as fast as you like.
Most of your time initially should be spent learning all the ins and out of dropshipping. The business model can be explained in 5 minutes and seem easy, however, to turn it into a long-term and sustainable business can take time.
I recommend you take at least a month of learning everything you can about dropshipping before you actually start your side hustle. Immerse yourself in the world and read everything you can, watch videos and listen to podcasts whilst you’re driving. The more you learn the less likely it’ll be that you will fail.
Be prepared to fail at first and don’t be disheartened by it. Even the most experienced dropshippers fail all the time. The best part of dropshipping is you can try again for a reasonably minimal amount of time and money.
Why Dropshipping Might not be the Best Side Hustle?
Although dropshipping is a great option for a side hustle, it may not be for everyone. I’ll go through some of the negatives of dropshipping so you don’t jump in and realize it’s not for you:
- The failure rate is high and therefore you may need to try repeatedly until you succeed.
- Some countries are not as profitable with online shopping depending on the countries you’re targeting.
- Facebook and Google advertising can take some trial and error to get it right.
- If you have no skills when it comes to marketing and sales, dropshipping can have a steeper learning curve.
- It’s become competitive in recent years.
- Dropshipping from AliExpress is not a long-term business.
- Some people class dropshipping as unethical.
How long Will it Take to Make Money Dropshipping Part-Time?
You could create a dropshipping store today selling products from AliExpress, run some Facebook ads and make your first sale tonight. Unfortunately, that’s not very likely and it won’t be sustainable. Dropshipping is highly competitive these days due to the very attractive business model, you can’t do the same as everyone else and expect to be successful.
If you’re in a rush to make money, dropshipping isn’t the right path for you. If you want to learn how to run profitable ads, write compelling copywriting, do product and market research and create a brand around your store, you can expect to see some profits within 2 months.
I would recommend you learn all you can before venturing into dropshipping. Although you could get lucky and make a few quick sales, odds are you’ll end up losing more to advertising than you’ll gain with sales.
Which Type of Dropshipping Store is Best for a Side Hustle?
You have several options when it comes to the type of dropshipping you want to pursue. As a side hustle, it’s probably best to start a dropshipping store type that requires the least amount of time to run whilst you still have your day job. I’ll go through the main types to help you decide which is best for you:
General Dropshipping Store
Most general stores are full of random trending problem solving products. Because there is no real niche or specific audience to target, branding is far less important. This may be an option if an option if branding isn’t really your thing.
Although general stores are easy to set up, they can require more ongoing work than other stores. This is because you’ll be constantly looking for new trending products and ad testing as other product’s popularity declines.
Niche Store
Niche stores are focused on a specific category of products and targeted towards a hungry audience of buyers. Branding is important especially if you’re dropshipping high ticket products.
They will require a bit of time in terms of branding and setting up a social media presence. Once they are all set up they require some work in terms of customer service, being knowledgeable in your niche will make things much easier. If you’re dealing with high ticket products I’d recommend dealing with domestic suppliers which will also take time.
One Product Store
One product stores have become very popular in the last few years and will require a bit more knowledge when it comes to product selection and branding. You can center an entire store around an already profitable product increasing its perceived value.
If you can spend a few days creating your store and branding it as though you are the creator of the product, running a one product store is a relatively easy process. if you can find a reliable supplier and a quality product it can be a passive store to run and a great option as a side hustle.
When to Take Your Side Hustle to a Full-Time Hustle?
This will depend on how risk-averse you are and your current life situation. If you’re 22 and still living with your parents you could quit your job and go after your side hustle a lot earlier than if you’re 45 with a wife and kids and a mortgage. This is why many minors do dropshipping, they have less to lose and everything to gain.
If your side hustle is making as much or more than your day job, personally, I’d be quitting the day job and going for it. If your side hustle is earning half as much as your day job, this will really depend on you, your life situation and how much you want it.
Just remember, if you’re already making a decent income from your side hustle, you’ll be amazed what you can accomplish by having an extra 40 hours a week. If it doesn’t work out what is the worst that can happen? You have to find another job which isn’t a huge deal. Having a steady income stream is important with testing ads, so a part-time job may be helpful if you don’t already have money saved up.
If you go and ask elderly people about their lives and what they wished they could change, they will tell you about the things they regret not doing rather than the things they did do. If you’re in a position to take a chance, take it, regret is a terrifying feeling that will be with you for the rest of your life.
Summary
There is a tonne of different side hustles out there you can try, however, dropshipping has so many upsides with the potential to allow you to quit your job it’s hard to find a better option.
Living a life working a job you despise for 40 hours a week is a soul-sucking existence. You need to find whatever time you have to pursue something you’re actually passionate about whether it’s dropshipping or something else. If it’s only an hour a day or it’s 4 hours a day, you have to go after it as your life depends on it, BECAUSE IT DOES. For that time you have spare, you better be motivated, caffeinated and put everything you have into it.
Discipline is the key. STOP watching Netflix, STOP watching sport, STOP playing video games, STOP looking at your phone and STOP procrastinating. You’ll be surprised how much time you actually have when you dissect what you actually do in a day.
It’s so easy to get stuck in this rut, feel like there’s no escape, feel completely trapped and feel like this is your future no matter what you do. Once you actually pull the trigger and start working on something that brings you joy, you’ll start seeing the light at the end of the tunnel. You’ll feel motivated and your side hustle will gather momentum the more you work at it.
You can escape the sh** situation you’ve got yourself into.
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