How much money do I need to get started?
It all depends on which business model you want to pursue and how quickly you want to see results.
Dropshipping
With dropshipping, there are ways to get started with no money at all because you don’t need to purchase any stock. But for most people, we don’t recommend that approach.
To give yourself the best chance of success, you should start with enough money to set up a store on a platform like Shopify and spend some money on targeted advertising on Facebook, Instagram, or Google.
Therefore we recommend starting with $200-$1000.
Wholesale
If you’re wanting to sell wholesale goods, you could make a small order of just $50-$100 worth of product to start with and buy more as you start to make sales.
Many of our suppliers have no required minimum order quantities so how much you spend on each order is up to you. However, you can get discounts for purchasing in bulk.
The amount you need to spend will also depend on what you wish to sell.
Buying wholesale electronics is going to cost a lot more than buying herbal tea, for example.
To get started with selling wholesale goods, we recommend starting with $1000-$2000. That gives you enough money to set up a store, purchase stock, and invest in ads to make your first sales.
Manufacturing (Private Label)
Manufacturing or private labelling are the most expensive business models, but they can also be the most profitable.
Manufacturing is creating your own product from scratch.
Private labelling is adding your branding (and sometimes making minor adjustments to) existing products.
These approaches typically require a significant investment up-front and the more stock you buy, the better cost-per-unit (CPU) you’ll get.
If you’re going to go this route, we recommend starting with $2000+.
Want to see which business model is best for you? Take this short quiz
Dropshipping
With dropshipping, there are ways to get started with no money at all because you don’t need to purchase any stock. But for most people, we don’t recommend that approach.
To give yourself the best chance of success, you should start with enough money to set up a store on a platform like Shopify and spend some money on targeted advertising on Facebook, Instagram, or Google.
Therefore we recommend starting with $200-$1000.
Wholesale
If you’re wanting to sell wholesale goods, you could make a small order of just $50-$100 worth of product to start with and buy more as you start to make sales.
Many of our suppliers have no required minimum order quantities so how much you spend on each order is up to you. However, you can get discounts for purchasing in bulk.
The amount you need to spend will also depend on what you wish to sell.
Buying wholesale electronics is going to cost a lot more than buying herbal tea, for example.
To get started with selling wholesale goods, we recommend starting with $1000-$2000. That gives you enough money to set up a store, purchase stock, and invest in ads to make your first sales.
Manufacturing (Private Label)
Manufacturing or private labelling are the most expensive business models, but they can also be the most profitable.
Manufacturing is creating your own product from scratch.
Private labelling is adding your branding (and sometimes making minor adjustments to) existing products.
These approaches typically require a significant investment up-front and the more stock you buy, the better cost-per-unit (CPU) you’ll get.
If you’re going to go this route, we recommend starting with $2000+.
Want to see which business model is best for you? Take this short quiz
Updated on: 15/02/2021
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