One of the barriers to entry to website brokerage is the advanced skill set required to enter into the field. You need to have experience improving online businesses and optimizing websites. You also need to be a good negotiator.
And you need to be a deal hunter. A successful flipper doesn’t jump at the first website they see that fits their budget; that’s the worst thing you can do. People that do this the right way spend their working hours looking at deals.
If you are going to work towards earning a good income online flipping websites, don’t jump at the first website that catches your eye. Wait, and keep your eye out for that great deal with huge potential.
When it comes to buying websites, there’s a vetting process one should go through. On some website marketplace sites like Flippa, there are websites for sale that are legit, but sometimes people inflate their numbers. If you find a site that’s super low priced, it could usually mean you are not getting much of anything great.
Sometimes you can find real gems on the website marketplaces. Just like when people inflate their numbers, some online business owners under price their site. They do this because they don’t know what it’s really worth.
It’s definitely possible to make money with sites like Flippa, but the one we recommend to our members is Empire Flippers. My friends have had great success both selling and buying websites using this company. Empire Flippers also has a solid vetting process and website marketplace.
If you find a website that is a good deal for you, consider buying it. Then put time into your new site, make it earn more money, and sell it for more.
My favorite benefit of making money drop shipping, is it’s scalable. You could build as many stores or list as many products as you want. You can run as much paid and organic traffic as you want.
Remember, I don't like the word passive. I don't like the word automated. But I'm comfortable saying semi-automated– where using different software and tools help you run a pretty profitable business that isn't taking all the time in the world. So that's a huge benefit of dropshipping.
Just Like Any Business, It Takes Time to Build Something Real
One of the cons to drop shipping is like any business, it takes time to build something real.
If you’re thinking about going the drop shipping route, know that you are going be putting in the hours up front. Like many of these other ways to make money online, you are going to have that delayed gratification. You put in the work before the money starts coming. It’s that simple.
Drop shipping is not a “get rich overnight” way to make money online. And it’s not going to be a push button system. We’re in this for the long-haul. I always remind my Drop Ship Lifestyle members that this is a business and to expect to put in the time before you see the money.
Drop shipping is a pretty hands-off method of selling products online. Instead of keeping inventory, we establish real relationships with real brands. The suppliers of those brands keep inventory for us and ship those products for us.
And the truth is, it’s pretty easy for someone to make $1,000 a month with drop shipping. Especially if they're selling expensive products…
With drop shipping, the average profit margin is around 20% after paying all of your costs.
When it comes down to it though, it takes about the same amount of effort to drop ship a $10 dollar product as it does a $1,000 one, the major difference is you make less per sale. See the table below to see how much more profit you make from selling expensive products compared to cheap items.
This content was originally published here.