Thread by @mywifequit

In 2007, my wife & I quit our jobs to start an online store

Today?

We run two 7-figure online businesses

In my opinion, eComm is the best route to get started.

Here are the 4 most common eCommerce businesses you can start today (and make money from within a month)

/THREAD/

#1 Dropshipping From Your Website

Dropshipping is a classic way to make money online.

Basically, you 'dropship' products from wholesalers and sell them at a higher margin on your own website.

You sell someone else's products by doing your own marketing.

Pros:
- no inventory
- minimal startup costs
- you don't do fulfillment

Cons:
- saturated
- fulfillment issues
- low profit margins (10-30%)

Dropshipping is perfect for learning the ins and outs of eCommerce without much risk.

#2 Selling Private Label Products On Amazon

Private labelling = placing your own brand or label on a product you manufacture yourself

You can sell private label products on your own website (more on that later) or sell on Amazon.

Generally, Amazon is easier.

Pros:
- great margins (66%+)
- control over brand/products
- get traffic/recognition via Amazon's brand name
- few barriers to entry (no website, no traffic, etc)

Cons:
- dependant on Amazon
- larger upfront cost (manufacturing + buying products in bulk)

This is a great option

#3 Selling Wholesale Products On Your Website

This is the 'traditional' eCommerce business model.

Pros:
- 50% margins
- control over your own brand

Cons:
- handle your own inventory or use a 3PL (more responsibilty)
- moderate competition (easier than dropshipping)

#4 Selling Private Label Products On Your Website

Dropshipping is a good place to start

& selling wholesale on your own website & private-label on Amazon is a good step-up

But, selling private label products on your own site is a real business model with long-term potential

Pros:
- 66%+ margins
- long-term business model
- less competition (unique product)
- more control over brand (pricing, branding, etc)

Cons:
- more responsibility overall
- must source your own goods

Selling private label products is great if you're up for the challenge.

There are SO many directions to go in the big wide world of eCommerce.

If you need help finding your way?

I have a 100% Free Mini-Course made for you.

It's the step-by-step intro to getting started with eComm & online entrepreneurship.

Sign up today mywifequitherjob.com/how-to-open-an…

Want to start your own ecom brand?

One that pays you 6-7 figures a month?

Join my free 6 day mini course and have one running within a week!

P.S.

It's free 😉

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