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During the past few years, there has been an increase in the number of people who are using Shopify to make a full-time income. Though it is not a get-rich-quick scheme, Shopify can help you earn a lot of money.
Is Shopify still profitable?
According to statistics over 1,000,000 businesses in 175 countries have made well over $200 billion in sales. And if you head over to Google Trends, you will see a gradual increase for the term Shopify. This clearly shows that Shopify is still profitable and is growing every year.
Here is a quick query on Google trends for Shopify:
If you are really serious to make money with Shopify, then I will guide you through the process.
There are two most effective ways to make money with Shopify:
1. You can sell your own products
If you are a product developer, then Shopify can be the platform that helps you leverage your product sales. As a matter of fact, you don’t need to have advanced skills to develop a product that can really be successful.
For instance, here are a few products that tend to perform really well on the platform:
- Bamboo Toothbrushes
- Sleep eye mask
- Yoga mats
- Jade rollers
- Mom jeans
- Silicone rings
- Dog bed
- Soap Dish
- Blackout curtains
Now, if you have enough resources, you can easily manufacture any one of these products and leverage them on Shopify.
Since, most people really like to produce specific T-shirts for their brand, here is a full guide that will show you how to start a T-shirt business.
On the surface, it looks like a reasonable business model.
But there is a catch:
If you create your own product, you will need to store and ship it yourself. And this whole process is really very complicated.
Now, is there any way to make money on Shopify even if you don’t have a product?
Dropshipping is the most common way that many online marketers are making money right now. It’s a better revenue model as you don’t have to deal with storage and shipping.
So, can you make some serious money with dropshipping?
Well, in 1 year you can actually earn a full-time income.
- Irwin Dominguez from San Diego made $1,000,000 in profit in just 8 months.
- Aloysius Chay and Galvin Bay are earning around $60,000 per DAY after 1 year.
That being said, dropshipping is a better option if you want to start your own online business.
What are the advantages of using Shopify?
1. Its really easy to set up
Shopify will offer you an easy solution to set up your online store. The platform is user-friendly and you will find guides on almost every issue that you will face.
2. It’s very secure
The platform is really secure and reliable. It provides a hosting solution that is very stable so that your store will load very quickly.
3. 24-hour customer support
If ever you are having any issues, you can chat directly with them, and usually, you will get a reply almost instantly.
4. SEO tools
5. Visually very appealing
You will get a lot of professional templates that allow you to create unique stores.
6. Apps can be integrated
The platform will allow you to integrate apps very easily.
7. Mobile responsive
This feature will make sure that people can easily access your store from their mobile devices.
Right now 5 plans are available on Shopify:
Shopify Lite — $9
Basic Shopify — $29
Shopify — $79
Advanced Shopify — $299
Shopify Plus — Custom pricing
There are a few key differences between Shopify lite and the other plans that I think are really important for you to know.
If you are using Shopify Lite, you won’t be allowed to build a standalone online store.
Instead here is how you can use it:
- You can sell your products directly on your Facebook Page.
- It will allow you to sell products and manage inventory in a physical location.
- You will get a Shopify buy button which you can include in your blog.
All the other plans allow you to have e-commerce versatility. For instance:
- You will be able to choose a template.
- You will be able to upload a catalog of products.
- You will have the option to accept credit card payments.
- You will be able to sell gift cards.
What makes a successful Shopify store?
If you really want to give Shopify a try, here are a few things that will increase your chance of creating a successful Shopify online store:
1. Choice of product
Often, there are many Shopify merchants that either choose a product that is too competitive or the products don’t have substantial sale potential.
For instance, if you are selling mom jeans that are available elsewhere, your chance of generating an income decreases exponentially. And if you are new to the platform, you will never be able to compete with the people who have been using the platform for years.
That’s why you need to choose a unique product that is not very popular. For instance, if the product can solve a specific problem for people, and you are the only one providing it, you will be able to break through.
One thing is really important: Do extensive research on a few products that you think will really perform well. Having a few, but high-quality product is way better than having a lot of low-quality products.
2. Targeting the right audience
Most people were using Facebook ads to promote their products due to the awesome targeting feature that Facebook provides. But, even with these targeting options, you need to invest a lot of money to be able to get a positive ROI( Return on Investment).
If you are a regular Facebook user, I am sure you must have seen many dropshipping products on your feed. The reason is Facebook has become a saturated place for dropshipping products.
So, if you are just getting started, it is recommended to use Pinterest because almost half of Pinterest users have some sort of buying intent when they are on the platform.
Right now, Pinterest is the best social media that can help you build a brand or generate a lot of sales.
If you have never used Pinterest, here is how you can use the platform to generate traffic to your Shopify page.
3. Price of products
The trick is to find a product that is neither too cheap nor too expensive. For instance, you must only sell products that can help you earn at least $20-$30 of profit on each sale.
Though it might seem that selling a product with a very high-profit margin is a smart way to make more money, usually relatively cheap products tend to perform better on the platform.
4. Delivery time
Right now Amazon is killing it with FREE two-day shipping for Amazon Prime.
There are many problems concerning shipping on Shopify. Far too many people focus on profit rather than customer satisfaction.
So, whenever you find a new product, make sure that you can find a dropshipping supplier that can ship the product within a few days. People really don’t like to wait too much to get their products. They are even ready to pay a little more to get the product really fast.
Maybe by providing the fastest shipping, you can separate yourself from your competitors.
The thing is: If someone made a purchase and they got a good product on time, they will buy from you every single time. Also, don’t forget how a happy customer can help you generate more sales by recommending your store to their family and friends.
5. Customer service
Most of the customer service from any type of business is really bad. As a matter of fact, business owners are getting ahead of their competition just by providing better customer service.
People will look for after-sales service, replacement, and refund before they make any purchase.
Here is the deal: If you can outperform your competitors with better customer service, your business will flourish in ways that you never expected.
The thing is: Almost 80% of people will leave an online store if their experience is very poor.
So, a great way to make sure that your customers get an awesome experience is:
- By avoiding excessive pop-ups that can irritate your customers.
- By Providing relevant information for each product with high-quality pictures.
- Easy and fast check-out process without any hidden costs.
Have you ever wondered by online stores like eBay and Amazon are so successful?
The only reason is that people TRUST the company.
So, how can you build that kind of trust?
Well, here are a few things that you can do:
- Add an FAQ page where you explain every possible question your customer might have.
- Make your online store attractive by adding quality images, using fonts that are easy to read, and light colors.
- Add an about me page, where people can know from whom they are buying. Also, don’t forget to provide an email address and phone number on which potential customers can contact you.
Final thoughts: Is Shopify still profitable- Simple steps to get started
If you really want to have an online store, then Shopify can be the best option. But one thing you should never forget: In any online business, it takes a lot of hard work and patience to get any desired result.
Starting your online business or any business means that you WILL fail a few times before you get success. If you understand that failure is part of the process, then you basically can start any business.
One thing I have learned is: Sustainable business models take a lot of time to reach their full potential. Anyone who tries to tell you otherwise is wrong.
Everything comes with a sacrifice.
I hope this blog post will help you to make a better decision to start your own online store.
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- Dropshipping Vs Drop Servicing-Which One Is Better
- 10 Best Drop Servicing Niches To Make A Full-Time Income
See you soon!