Want to know how this Indian generated $1,70,000 in revenue dropshipping? When COVID was spreading its wings here and there and was gloom everywhere. Ankit was able to generate hoping $ 1,70,000 in revenue drop shipping in 2020 alone.
This proves that, with the right guidance, dropshipping can be fruitful and may generate good profits. When the Alidropship team spoke to Ankit last time, he told that he has generated $52000 in revenue, but after that, a lot changed. He managed to generate more profits from his business.
Image Source: Alidropship Ankit’s Interview
Closing of a First Store
Ankit also told that he had absolutely no interest in those products, he sold through dropshipping, but still, he earned good profit by selling those products. But after some time he started feeling that he should close his first store and start a new store with the products in which he has an interest.
Instead of closing the store, he thought of selling the same on an online platform and earn a decent amount from it. So that he could start his new store with the money he would generate by selling the same. Thinking this, he listed his first store to sell at Shopify’s Exchange Marketplace so that it would get the right price for that store.
How Much He Generated Selling His Store
You must be wondering how much he generated by selling his established store. He sold his store for $20000. Yes, you have read that correctly. Shockingly, he sold his store for $20000, but it is not too surprising because the price of an established store can be more than this. After all, it is already generating revenue on monthly basis. Such stores are also listed on the Alidropship website which generates huge revenue every month.
This shows that if your store is generating good revenue, then you can sell it at a good price and start your new store with the money earned and also save money for marketing. Well, after selling the first store, you knew what to do with the money earned.
The New Business With the Same Strategy
Ankit started his 2 new stores after selling the first store and that too with the products he was interested in. In the first month only, he succeeded in generating revenue of $50000. All this happened because he believed in himself and he knew how the dropshipping works and on top of that he took full advantage of the free resources of Alidropship.
India – China Tension & Affect on Dropshipping
We all know that there is a lot of tension going on in India and China and because of this the Indian government, in 2020, banned 200+ Chinese apps, which also included AliExpress App. Due to this, the people of India had to cancel many orders, and products were not delivered to many addresses in India. In December 2020, China stopped the order delivery to India and now no one knows when it will start again.
The tension between both countries had no effect on Ankit’s business and dropshipping. This is all because of the beauty of the dropshipping model. Any person can sit anywhere, sell goods through dropshipping in any country. Ankit did the same. Sitting in India, sold Chinese items to the people of other countries, where there was no issue of shipping and there was no tension between the two countries and that is why he managed to earn so high profits.
In his interview, he told the Alidropship team how he used to do everything himself like creating sale copy, working on advertising, making marketing strategies but then later he realized that if he gives away all the work to other people, he will have ample time to focus on what is important instead of things which have less value and hence he divided the work and outsourced so that he could focus more on product sales and customer service which helps in generating good revenue.
Below are the strategies he used to generate such awesome profits.
- He uses to check product rating first. According to him, the product rating should be 4.7 stars and above. It is possible that suppliers with fewer ratings may be providing low-quality products. It does not usually happen with everyone, but to a large extent, it is expected. So need to be careful with this.
- Then he uses to search on product pricing. He checks the price of the same product, he selected to sell, at various platforms like amazon and decides on the price of the product. He always keeps pricing a bit higher as he includes marketing expenses in that.
- Furthermore, he tests every ad with A/B testing formula. Sometimes, he tests the same product with different pricing. Like higher pricing / lower pricing and checks which one performs better. To his surprise, sometimes, higher-priced products do much better than the product with lower prices.
The Actual Reason for Ankit’s Success
Ankit tasted success because of his dedication and persistence and above all, he took the initiative to start his eCommerce business. I believe that the credit for Ankit’s success goes to him himself. Because imagine, if he just kept on thinking that he would start it, he might not be able to do it at all.
He thought and started and from there, the journey of his success started. Someone wise said that the depth of the sea cannot be measured by sitting on the shore, for that you will have jump into the sea and that is what he did.
He jumped into the sea to measure its depth. The other good part was, he never stopped learning and used all the resources available to improve his skills.
You will not be successful just by thinking, take action and start your dropshipping journey today without wasting time. Otherwise, you will find yourself sitting on the shore watching the sea only.
If you are still not sure, then its better to read one of their free guides here