Thread by @ecomricky

I MADE $1,065,090 IN 9 MONTHS ON A NEW DROPSHIPPING STORE!

Here’s how I did it and what I learned 👇🏽

[A THREAD WORTH BOOKMARKING]

What’s up everyone, I’m Ricky.

Just a regular guy from a small town in Wisconsin. If I can do this, so can you.

First things first, dropshipping is:

- NOT dead
- NOT a get rich quick scheme
- Definitely NOT a scam

Don’t believe the people saying that. They just suck at it.

For those asking “What is Shopify Dropshipping?”

It is when you:

- Find a product on Aliexpress
- Build a Shopify store for this product and inflate the price
- Drive traffic to your store through paid advertising & make sales

Here’s a graphic I made to help understand it.

The Product:

I went with 1 product plus 1 upsell.

My product is unique, in a niche and can’t be found at big box retailers like Walmart, Target, etc

The product costs me $8 on Aliexpress and I sell it for $40+

Crazy to think that 1 product has generated me over $1,000,000 🤯

If you’re struggling to find a product:

I have found some great products by going on TikTok and searching “TikTokMadeMeBuyIt” (You’ll see products that have gained a lot of attention)

Whichever product you choose, try to sell it for ATLEAST 3x the Aliexpress price or $20 profit

Building the store:

I keep my stores very simple.
- White background
- Black text
- 1 accent color that makes sense for the buttons and announcement bar.

I use the Motion theme. It is a paid theme but if you are just starting, the free Debut theme is fine.

Pages you need on your stores:

-Contact Us
-About Us
-FAQ
-Shipping Policy
-Return Policy
-Privacy Policy
-Terms of Service

Apps:

-Oberlo
-Loox
-SMSBump
-Klaviyo

The ROI from SMSBump is INSANE!

I have spent $600 and made back $110,000 over 9 months 🤯

Advertising: I use FB Ads

If just starting:

10 adsets, 1 interest each in an ABO campaign. $10/day each adset

Let those 10 adsets run for 3 days

If after 3 days an adset has no ATC or purchases, kill it. If an adset does have an ATC or purchase, let it run another 3 days

Ex:

If after those 3 days an adset doesn’t have a purchase. Kill it. If you have 2-3 adsets that do have a purchase, duplicate them into a CBO at a higher budget ($50-$100)

Let that CBO run for 2-3 days. If profitable increase the campaign budget by 20% ♻️

Once you gather enough data you can begin testing lookalike audiences (1,000 people)

This is where the real $ is made 🤑

I’m still pretty mind blow that the ad creatives I’m using are images I took on my iPhone lol. Anything is possible 🙏🏽

Analyzing your Facebook Ad metrics:

Don’t overcomplicate it

If your ROAS is above your break even roas, that means you’re profitable. If its under your break even roas, you’re not profitable.

If testing 1 video & 1 photo, see which performed better & move on with the best one.

Order fulfilment

You can use Oberlo when starting

What I found to work best:

Ask your supplier if you can send them an export of your orders

It’s SO easy doing it this way

All you do is export your daily orders and email it to your supplier and they will send you an invoice.

Dealing with PayPal

They will hold your money. This happens to everyone & you learn to deal with it. Add tracking numbers & you’ll get your money faster.

I’ve had stores with PayPal & without PayPal. The ones with it always have a higher conversion rate. Customers trust PayPal.

Debunking the AliExpress long shipping time myth

There are thousands of suppliers on AliExpress that can get your products to your customers with 1 week & ship with USPS, UPS, FedEx, etc

Search for a product, select “Ships From” and choose United States & get quick shipping

Ex

So that’s the dropshipping journey and some things I’ve learned along the way in just a few tweets.

I am on pace to do 1M/month during Q4 this year which is WILD to think about.

If I can create an online business and travel the world because of it, so can you.

If you found ANY value in this thread, I would be grateful if you could toss me a retweet or a like on the VERY FIRST TWEET in this thread to help reach more people 🙏🏽

If you would like more info or if you would like to watch me build a dropshipping business live, step by step, so you can follow along

You can checkout Freedom Dropshipping here:

gumroad.com/l/Lzquf

For those wondering, 1M in sales was right around 400k in profit in 9 MONTHS on this store

Pretty average profit margins with dropshipping are anywhere from 20-40%

If you’re still reading this, please scroll to the very top and hit that like or RT button 😅🙏🏽