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    1. EnZo69 is offline

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      #1

      New to setting up a profitable drop ship business - Drop shipping basics and tips

      Hi,

      I've been looking around the forum and i can say that this is one of the most informative forums i've seen, and made me more motivated to learn more about dropshipping as a profitable business. I just have a few questions for you guys.

      1. What do i need exactly to be a legitimate business? i know that i need a Tax Identification number but what else do i need?

      2. Is a dropshipping business really profitable? That I can quit my job and do this full time? (I hate my boss with a passion) lol

      3. I am very motivated and hardworking, how long will it take for me to be successful in this business?

      4. Ebay and dropshipping? will it work? or is it better if I make my own website?

      These are a few of my questions, Thanks in advance and thumbs up to the admins of this fine forum. Keep up the good work guys.
      Over 150,000 Verified Sources + Deals 95% Off MSRP + Free Website!

    2. WholesaleMod's Avatar
      WholesaleMod is offline

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      #2
      Hi EnZo69,

      Welcome to Wholesale Forum

      To answer your questions

      1. To be a legitimate business in the US there are a couple of things you need to do

      Determine Your Business Structure: There are different ways you can registrar your company

      *As a sole proprietor
      *A partnership
      *A corporation
      *A Limited Liability Company

      Register Your Company Name:

      You can registrar your company name here: Trademarks Home

      Certify Your Business:

      Certifying your business depends upon the type of business

      Getting a Sales Tax Certificate:

      A sales tax certificate obliges you to pay applicable sales tax on goods you sell

      2. Drop shipping businesses can be quite profitable, but you need to do your research to see if products you want to sell will give you a good return.

      Drop shipping is a great way of setting up an inexpensive business as it does not need you to acquire stock. You could start out with some small websites or eBay store to test and promote diverse products. A great tool to do market research is Terapeak. They will be able to help you make your drop shipping business into a profitable one.

      Wholesale Forum has a stance on drop shippers and that is that you should never pay to be able to use their services. If you pay monthly fees your profit will not be satisfactory.

      3. It is important that you understand what you sell and how you sell it to be able to turn your business into a profitable one. It is hard to say how long it will take to turn your business into a successful one, but if you find a good supplier and product and you keep motivated and hardworking then your business is bound to being a successful one.

      4. eBay is great to begin you drop shipping business, it gives you the possibility to test out different products and you can start to have a first hand look at how your customers will react to your product and service. When business picks up you will be able to invest in you own website and you would already have an existing customer base to start from. eBay will remain a great way to get traffic to your new website.


      We would like to invite you to read the following threads and articles:

      https://www.wholesaleforum.com/discu...-business-144/

      https://www.wholesaleforum.com/discu...essfully-1725/

      https://www.wholesaleforum.com/discu...ccounts-12155/

      https://www.wholesaleforum.com/discu...eed-tips-1245/

      There is a lot more to read on Wholesale Forum. Use the search box to find anything you might be looking for.

      Apart from being the world's biggest verified wholesale directory, esources offers ecourses from Setting Up Your Own E-Commerce Website to Drop Ship Your Way to Success. Signing up with them will give you many advantages and will be a good base to ensure a successful business.

      Good luck
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    3. Thank you for this post:

      EnZo69 (30 Jun 2011), maxipr (02 May 2012)

    4. EnZo69 is offline

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      #3
      Thank you so much for the quick reply. I really do appreciate the tips you gave. Hopefully i would be successful in this and who knows in time i would be like one of you guys giving tips to peeps who are new to this business. Thanks again.

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