There are many different ways of successfully dropshipping, of course, but let's discuss three common strategies.
1. Find the largest industries and find the best selling products in those industries.
(This most likely is not going to work and hopefully it doesn't even sound like a good idea to you. All of the largest retailers are going to be selling the best selling products and they're going to be offering better prices than you.)
2. Find the best selling products during cyclical times.
(This is good method if you have a website that is constantly changing and updating products. You'll also need at least one or two employees or partners who can constantly find the newest products and the best-selling products of the season. It is a lot of hard work but it is a proven method. Just make sure that you have the leverage and you'll able to market the product once you find it. )
3. Find a true novel or niche product and become the largest re-seller.
(This is a method for the bold. You cannot be weak if you're attempting to sell your own product and would like to be known as the number one re-seller. This will require working out a contract with you supplier, possibly with some exclusivity to it, and building a repertoire with your supplier. This is one of the toughest ways to start but it also has one of the highest rewards, including stability, and can set you up for life.)
Why is a Lonehood going to be the number one niche product for drop-shippers? Well there are some things that immediately come to my mind; for instance:
It is the first clothing accessory in decades that is novel, useful, and simple to use.
It offers a great demographic population as it's great for men and women of all ages.
It has a great profit per margin and it has a very low number of variants for you to worry about.
But before we talk about the benefits of our detachable hoodie let's first learn about drop-shipping a niche product.
All drop-shippers know that it is best to start with a niche product but the hard part is finding the niche product when everybody else is also looking for one and they're using the same blog sites and articles as you to find them. What is a niche product anyway? It's tough to find niche products today because everybody is concerned with copying others and producing bland, ordinary products.
In order to find a true niche product you need to find a product that is not yet mainstream. You need a product that has potential to reach the masses. A product that can be given as a gift and can be purchased casually at any time of the year.
If you're using a database like Doba or something similar, chances are that you won't find a niche product. You're going to find a product that everyone else is already selling and you're going to get it at a price that everyone else gets it at, or higher if you can't afford to buy as much inventory as them.
In order to find a great, unique, niche product you will have to do the research yourself and contact the supplier directly. You need to find a product that everyone has not already gotten their hands on and you have to be the one to pioneer the industry for that product. That is how you make money drop-shipping. Do research for novel products, preferably ones with patents pending and contact the inventor/seller directly and negotiate a price to drop-ship their product. Chances are that they'll be happy to work with you since you're both small and just starting off.
It should be easy to define the target market of the product and it should be a target market that you're familiar with or can relate to. Don't choose a niche product if the target market is one that you cannot easily reach.
Look for a supplier who is willing to work with you and supply terms that are agreeable to both of. If you're just starting out you're most likely going to want someone who also offers Light Bulk and can drop-ship individual products.
So why is a Lonehood the best niche product to sell on your e-commerce website? Besides the fact that it fits all of the requirements above, there are tons of different kinds of sweatshirts and collared shirts and there are millions of people selling them but there is only one original detachable hoodie and there is only one supplier selling them. This is a patented product and it has enormous potential for reaching the masses.
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