The UGLY Truth About Dropshipping That No Guru Will Tell You

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In this post, I answer all of the in-depth questions related to dropshipping to provide you with a complete view of what it takes to run a profitable dropshipped store.
All of this information is unbiased and to the point.
0:00 The Truth About Dropshipping
0:56 What Is Dropshipping?
1:20 Is Dropshipping Legal And Legit?
1:44 Does Dropshipping Require A Sellers Permit And Business License?
2:11 How Profitable Is Dropshipping?
2:39 Is Dropshipping Worth It?
3:05 Can Dropshipping Be Automated?
3:41 How Dropshipping From Your Own Website Works
4:12 How Dropshipping Works On Amazon
5:05 How Dropshipping Works On Ebay
5:31 How Dropshipping Payments Work
6:19 Where To Find Dropshipping Suppliers
7:07 How To Find Wholesalers Who Dropship
7:32 Where To Find Products To Sell For Dropshipping
8:11 When To Use Dropshipping
8:53 What Are The Best Dropshipping Companies?
9:24 Who Pays For Shipping When Dropshipping?
10:00 Do Dropshippers Ship Internationally?
10:20 How Do Returns Work With Dropshipping?
10:31 Can You Use Multiple Dropship Suppliers?
11:03 Why Dropshipping Is Good
12:24 Why Dropshipping Is Bad
13:04 What Big Stores Use Dropshipping?
13:22 Will Dropshipping Be Profitable in 2022?
TOOLS AND RESOURCES
Dropshipping Suppliers - mywifequitherjob.com/dropship...
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MY FREE ONLINE COURSES:
🚀 My FREE 6 Day Ecommerce Course - mywifequitherjob.com/free/
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🎙 My weekly podcast - mywifequitherjob.com/category...
📸 Instagram - / mywifequit
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WHO AM I:
🌍 My website / blog - mywifequitherjob.com
GET IN TOUCH:
If you’d like to talk, I’d love to hear from you. Tweeting @mywifequit directly will be the quickest way to get a response, but if your question is very long, feel free to email me at steve@mywifequitherjob.com.

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Опубликовано:

19 июн 2024

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Комментарии : 565

@mywifequitherjob 2 года назад

If you enjoyed this video, make you take my free 6 day mini course - mywifequitherjob.com/free/

@LEX-yi8sv Год назад

Hello would like to ask you a question about dropshipping using Amazon as a supplier

@anitawilson6504 Год назад

Thanks for this video it was very very informative.

@timspence172 Год назад

Thanx big bro. u made it a WHOLE lot easier to understanding👨‍🏫 teacher level😎

@Layla_Bayla Год назад

Thank you for this video. Loved it. Would you mind creating one on how to start one's own private label brand, step-by-step? Would appreciate it 💕

@angelcrespo7189 Год назад

why cant a wholesaler just sell to everyone?

@leeeric8436 Год назад

Big takeaway from this video: 1. Drop shipping is NOT entirely bad, a good way for anyone to tip their toe in the waters of E-commerce 2. Little or NO cost to start out your own business online, most important is a good supplier with great product quality and handling of goods. 3. NOT A LONG TERM BUSINESS MODEL, find a winning product and outsource your product and create your OWN LABEL 4. PROFITABLE, but lower or poor profit margin around 15-30%. Unless bulk orders, so finding winning products or higher margin / big ticket items will help. Supply and demand Hope this helps

@apollohd6368 Год назад

How do i automate the fulfillment part?

@David.L291 Год назад

@@apollohd6368 The said drop shipping company would have that on their platform I should think so

@donaldva Год назад

From a Lee to another Lee, Lee Eric is the real MVP.

@AugiBee Год назад

Sound worth it

@aibrean3473 Год назад

thank you! Your comment helped!

@MariaSamadi 2 месяца назад

You work for 40yrs to have 1m in your retirement, meanwhile some people are putting just 10k in a meme coin for just few months and now they are multimillionaires. I pray that anyone who reads this will be successful in life.

@SophiaAdam-ti9kf 2 месяца назад

I'm new to all this, feels overwhelming but I won't give up on learning this. Thanks for you clear explanation from the very beginning!

@nonyewinner1635 2 месяца назад

All you need as a beginner to make good profit is a professional else you may make losses.

@Dgdtdy4ydyzg 2 месяца назад

How can someone know a professional who is trustworthy when good ones are hard to find these days

@HenryGoodness-ky4ls 2 месяца назад

Mrs Dona Mira, she is from USA and her strategies are great

@LouisSam-yn6lc 2 месяца назад

Check out Dona Mira , her strategies are great

@CandysChannel 2 года назад

FINALLY A HONEST dropshipping video!! I am sick of the 20 something kids & adult guru’s simply lying or hiding everything you told us. Thank you!!

@juliusford3180 Год назад

I showed this to my mom and she still doesn't trust it :(

@MrJohneblaze822 Год назад

I don't know why they feel the need to lie about how easy it is.

@timspence172 Год назад

amen🙌

@muneymap Год назад

@@juliusford3180 you're like 15 yr/o versus them never having the relative knowledge to understand this considering they never grew up when the internet was more advanced.

@elaynerc Год назад

Just searched for the topic and overlooked these videos. Immediately clicked on this one. Unfortunately, a lot of gullible people fall for these "gurus"

@AndyGinny1 Год назад

If you take the right mindset into anything you can make it work

@kryul3230 Год назад

this comment is so impactful bruh 😂 i love it man and i hope its true and yes you gotta truly have that mindset i agree and you also gotta give it your 100 if you want to make anything work but i think you can make whatever you want work if you go into it with the right mindset like you said 🙏

@nicolas_-_-_ Год назад

Hello! I like those words. Thank you 🙂👍🏼

@leroybrown505 Год назад

8:34 you should use drop shipping as a stepping stone to create your own branded products for sale. That is all I needed to hear.

@user-qh5ud9wb3m 22 дня назад

Dropshipping business has really helped me a lot I was very broke and schooling also but was introduced to dropshipping and in less than a month am making huge money

@markkelderman2439 5 месяцев назад

Always good to see your insight on dropshipping. In my opinion this business will always be lucrative because people simply need to buy things. You just have to find good products (I am using a bit of winnerzila. They give out five products per week, and at least three are absolute winners. I also get all photos, videos, descriptions for every single product). Also, you need to make your store a little bit appealing. Those two are formula for success in my opinion.

@RachaelResse 3 месяца назад

Everyone needs a different stream of income, unfortunately having a job doesn't mean security due to the high rate of rate of tax, one needs to move ahead of their expectations.

@KeshiaJoshua 3 месяца назад

If you don't find a means of multiplying your income you will realize you didn't plan good for yourself in the future

@GreeneDaniels 3 месяца назад

lnvesting with an expert is the best strategy for a beginner's and busy lnvestors. because most failures and Iosse on usuaIIy happens when you lnvest wlthout proper guide. l'm speaking from experience

@user-sf1rm8te1t 3 месяца назад

I agree to successful on investment. Having an investment advisor is the best way to go about the stock market right now. I was going solo, but it wasn't working. I've been in touch with an advisor for a while now, and just last year, I made over 80% capital growth minus dividends.

@LuckyTrace 3 месяца назад

How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?

@meditationstorytime Год назад

Thank God for your content. You saved me from abandoning ship and continuing my journey. I love how you talk about it simply being one step in the process toward having your own products, which is a great goal to have.

@XanderMianus Год назад

None of this actually sounds like an “ugly truth” just the realities of running a business.

@rahmanmdarifur7900 Год назад

Without any work or struggle you can't make anything or can't earn money for life that's the truth..... But Don't understand why most people think everything will be easy for making money🤔

@makisama5736 Год назад

@@rahmanmdarifur7900 lol say that to all underage girls popping off cash on onlyfans lol

@majestic6265 Год назад

@@makisama5736 thats the 1 percent of onlyfans girls and they make that much because of there marketing

@deadgoldenheart9560 Год назад

@@majestic6265 1% is like 50% of all girls on this planet

@David.L291 Год назад

@@makisama5736 Would be fun to be a pimp on onlyfans lol

@diablo4gamer Год назад

Make more videos like this! Very straightforward and educational. Nicely done

@tbtfw 2 года назад

I've seen this with a lot of people that they get into e commerce thinking that drop shipping is an easy business. Don't fall into this trap. Actually drop shipping is lot more harder and complicated than you think. You have to know how to build a website, product research, product development, product fulfillment, supplier research, branding, marketing, advertising, SEO, shipping, etc. Also you have to deal with a lot of problems such as late shipping times, charge backs, bad customer experience ,low quality products, banned Ad accounts, etc. So don't even think this is an easy business 😂. And statistically proven, 90% of dropshippers fail and lose money. So, it's not a get rich quick scheme unlike those fake gurus tell you also it may take you years of hard work to build a successful dropshipping business. I can tell you this from my past experience as I used to be a drop shipper before till I founded my own marketing agency.

@alphaevolution Год назад

It's ridiculous that people don't approach dropshipping like an actual business. They see the photoshopped profit margins and buzz words like "started with nothing" or "anywhere in the world" and they get baited. Same things when people go into trading. To add on to the experience, just started a month ago and I'm doing alright so far (not getting to excited). Not looking to get rich quick or live off it but if it every got to that stage, who am I to say no? Took me a while to understand what dropshipping is, researching companies, what is selling at the moment (and coming months i.e gardening for the summer coming up) and joining a group who are likeminded. I'm glad the video mentions the traffic to make revenue point. Personally, let people talk dropshipping down. More steady traffic for me.

@jerryommrg Год назад

@@alphaevolution I just started dropshipping, made a few sales but hasn’t been rosy, how can I find those groups? please I need help

@dpink4832 Год назад

I agree. also the suppliers from China are very much "Yes Man" and they will tell you a product is in stock when it really isn't

@MrJohneblaze822 Год назад

That's why I don't see myself getting into drop shipping.

@raqueldixson7644 Год назад

One thing I noticed about these gurus when posting their numbers is they REFUSE to talk about the actual profit they’re getting . If I’m dropshipping something for 40$ but I have to pay my supplier 28$ and I make 10 sales I did NOT actually take home 400$ I only took home 280.. and gurus refuse to acknowledge that on their videos. They really trick ppl with that . I’m glad I got lucky and found a product with high demand and low competition

@KBlakK Год назад

Great tutorial with plenty of succinct factual information. I like to make decisions rather quickly and I need the requisite data to make those decisions. I am looking to eventually private label my own products, and enhance my brand by leveraging it with my other businesses. Thank you so much for providing me with the data to intelligently decide if it's right for me, and if so, when should I do it! Anxious to hear your other insights to ecommerce, so of course I immediatly subscribed to your channel 30 seconds into the video, and will be referring your channel fo everyone I know who can use this information

@neonshadow5005 Год назад

When I heard about this, it only sounded "easy" to me because so much of it is done without you having to do it yourself. Inventory, shipping and the like. But I recognized that it is still a business and like any other business, you will have to work hard to make it work out. But also depending on the platform, there can be several upfront costs.

@emiliananelson4211 8 месяцев назад

Exactly

@fcallum77 Год назад

This was very informative! I hadn't really looked into drop shipping much for my own business but I'm going to implement it!

@rwingender 9 месяцев назад

Excellent video! Love this guy's presentation style - clear, concise, no flowery/fluffy language.

@melissahastings-ib8kb Год назад

Hey Steve, Thank you for clearing up what has taken me through confusing moments of insanity. One thing, you said to click the link below to get the list of drop shippers and there's no link below. This was very clear information, succinctly outlined and very much needed. Thank again.

@mynaturalperfume828 Год назад

Go to his website. There is the link to his website

@Anrreadune Год назад

Great video! To be honest I did not see any “ugly truth” info about dropshipping..it’s all about being confident, consistent and know what type of business you are building.

@warrenelliott6456 9 месяцев назад

He used the word Ugly in capital letters to catch peoples attention,i.e to get more clicks.

@dylancatlett6580 8 месяцев назад

@@warrenelliott6456 Wow. No way!

@Thenewlife83 11 месяцев назад

This is the most informative and honest video I've seen! Thank you! I will be re-watching to take notes!

@angelmyers1093 Год назад

Wow! This video was so packed with valuable information. I can’t wait to get the mini course!!!

@rosewurkz Год назад

Thanks a looot! Finally someone who doesn't sugar coat it and tries to make it sound as easy as possible! God bless 🙏🤗

@ximth3d4ddyx Год назад

Now that was a refreshingly informative and unbiased video. Thanks

@oliviacarroll3588 Год назад

Excellent video. Was about to start dropshipping but now think I will test out several carefully chosen products on my online shop and see what sells and generates interest. Thank you very much

@chrishall3518 Год назад

How much interest have you gained since this comment? Im curious

@jessicacampbell5577 2 года назад

Thank you I really enjoyed listening to that you kept me intrigued.. new to e-commerce but I’m successful at everything I work hard on.. can’t wait to watch and go thru your channel..

@kimberlysnow1465 Год назад

Thank you for breaking it down, I have been searching for this content for awhile.

@TroyQwert Год назад

Thanks man! I appreciated that. Honest and straightforward. That's what I was looking for.

@user-sv8zw7jt8b Год назад

There is no chance, no destiny, no fate, that can hinder or control the firm resolve of a determined soul. ~ Ella Wheeler Wilcox

@vanessalove-collins4654 Год назад

Thank you for this content. I am totally new to ecommerce and dropshipping. I needed to find away to generate additional income since the pandemic. I started crafting T-shirts, Hoodies, and hats with a focus on customized Christian clothing and accessories. I'm going at it alone and it is very frustrating especially with working a full-time job. Thank God, I'm almost there. I have a goal of activating my Shopify store tomorrow. There are so many videos out there on how to start a ecommerce business that I find myself getting very confused. I have $sales besides the test items that I've ordered but have paid almost a year of Shopify subscriptions. Lord, I need help. I appreciate your content. It is very detailed and easy to understand. Thanks for the time and preparation you take in ensuring that business owners receive factual information that we can use to build our business. Please keep up the good work.

@XxBeastWTFxX 11 месяцев назад

Be careful with these youtubers, they leave a lot of secrets out and try to skew your view for personal agendas. Keep researching friend.

@martinsreel 10 месяцев назад

I think the biggest misconception that people have when they want to start dropshipping is that, they think you don't need to register the business.. Like mentioned in the video, also depends in which countries you are located, all the cases you would need a business account from bank in order to be able to get those transactions.

@rawpamper Год назад

Extremely unbiased and helpful . Thanks

@myurbangardening 5 месяцев назад

I love, love your videos and how you explain the essence of business model so eloquently. I have to say, honestly, I was at first thrown off by a bit old school style thumbnail. But your words overwhelm everything else. Thank you so much for your words of wisdom.

@kerivvichoupies9897 2 года назад

awesome video thanks these is the detail information I HV been looking for.

@toddburnett4853 Месяц назад

Excellent breakdown of how dropshiping works. For this, I have subscribed to your channel.

@Ladida386 Год назад

Awesome video with realistic data. 👏👏👏👏

@floop2935 4 месяца назад

THANK YOU FOR SHARING THE REALITY OF THE DEOPSHIPPING BUSINESS MODEL!

@kesslerkevin 2 месяца назад

Of what I already knew, the information in this video lines up 100%. Thank you! This video was really helpful!

@BeautifulCarmenIs Год назад

Really informative and great insight, thankyou!

@tobiasfalang5171 Год назад

Brother!! Thank you for all your great videos!! Bless you my brother!!

@joansears6114 Месяц назад

Thank you! This information is very much appreciated.

@aracelir4311 10 месяцев назад

I love the clarity of your videos! Even though english is not my first language, I fully understand

@10ashagirl 9 месяцев назад

Whew…. This is absolutely needed info…Thank you

@MiniMu-2008 Год назад

Thanks for this video. I learn so much from your content

@NexGen-3D Год назад

The best thing about drop shipping larger more expensive items, is you reduce the transport cost, as shipping is warehouse to customer, if you were to ship, warehouse to you, then to customer, you will have to pay for transport twice, which on a large item, like a TV, is very expensive and will increase the price of the product to a point were you cant compete.

@ennamorgan Год назад

You Sir are very knowledgeable. Thank you, that was quite thorough and informative!

@daviddinh8825 2 года назад

This was the best video I found about dropshipping. Great job!

@GRAMBONER314 Год назад

Thank you for the honesty and great links to get started. Peace Love n Chicken grease.

@unahp.3751 2 года назад

This was informative. Thanks!

@maximilianoortiz8348 Год назад

Excellent information! Thanks a lot

@edm8037 Год назад

Good job of explaining the process!

@kennycatanzarite Год назад

Great video, very informative, keeping it realistic

@iatrou Месяц назад

GREAT HONEST video. Thank you !

@mr.daydreamer5106 8 месяцев назад

TRANSPARENT review! you're really something sir, please keep us enlightened always. Thank you for this very informative review.

@Goddess.Mindset 3 месяца назад

Man I’m not even done with the video and it’s soooo informative!! I just watched another video for 9 mins just to say if you don’t have money to start it, get a credit card, loan, or borrow the money 😐 pissed me off lol

@neoblackcyptron 8 месяцев назад

This is gold. I saw your business on cnbc.

@mrslake7096 Год назад

Thanks for the detailed explanation, very informative video

@rageavictor8099 Год назад

this was a great video for a complete bigimner who has heard of dropshipping before but had no idea what it was about, I've subbed

@arturaspf2566 Год назад

There is also option between selling exported products yourself and dropshipping - both of them ;) This is exactly how many online stores working now. Also dropshipping can help identify which products is most selling, and then export it yourself or just buying in larger quantities and ask for extra discount. I have my own internet store and im working with both methods, which means i have ability to offer wider products and services selection. But yeah, it takes a lot time and work... 😶

@HealthyAbundance 9 месяцев назад

Artur can you please help me to do this, I really want to drop ship but this video blew it in my face. I want to start yesterday if you can teach me or send me the correct videos I want very thankful

@MateusHenrique-fr2ys Месяц назад

Hey Man How It's going?@@HealthyAbundance

@lukec.9819 2 года назад

Great video!! Lots of informative tips!!! New subscriber here 👏😊

@laurahalvorsen558 Год назад

Love your Intel thank you very much and may God 🙏 bless you. I am watching and listening to more and summarising..

@didyouknowquiz Год назад

Great video! Your insights and tips on [insert specific topic] are truly helpful for those who are starting their own business or trying to improve their current one. I appreciate how you explained everything in a concise and easy-to-understand manner. Looking forward to more valuable content from you!

@anitawilson6504 Год назад

Thank you for this video it was very informative.

@dmmurray9422 Год назад

I trust this guy, and will be taking his advice on my ecom business. Many thanks

@InnerGiggles Год назад

Great video. Clear and to the point.

@asAODA Год назад

The most amazing and educative video about dropshipping ever made!❤

@giannisninogr Год назад

Thank you so much. This was very helpful.

@JasperHunt-hq7pu Год назад

Perfectly done video, thank you!

@yamiralizarroyo255 5 месяцев назад

I love the honesty of this guy . Many others sell a dream to try to get me to buy a 3000 course

@juliehatcher5626 Год назад

Thank you! For your honesty!

@rosebud3971 Год назад

You are the first and only honest GURU on dropshipping.

@aha-digitalliteracy-610 Год назад

This is such a good video!! Thank you

@warrenchew8195 Год назад

There's one problem left out: Advertising costs. It's not totally zero cost because you either have to spend on advertising to get the traffic, or spend a lot of time to promote the products organically. Advertising is an upfront cost.

@JohnDoe-ed7vw Год назад

For me this is the only problem lol

@timspence172 Год назад

true, true.... but that's the easy part

@muneymap Год назад

It's literally so straight foward.

@mansamusa2000 Год назад

No cost to advertise on tik tok or google trends to drive your traffic

@King-oc1ri Год назад

You’ll spend 100-200 on shoes but not promo crazy

@T1Oracle Год назад

Better solution. Carry physical inventory. Do in person business. Drop ship stuff you don't have in inventory. "Oh, but you have that in purple?" "Not here, but let me ship that too you!"

@0098023 Год назад

Well done bro! 🎆🎆

@andyatmosphere 5 месяцев назад

Amazing! Great Video!

@cubajonesie Год назад

VERY informative. thanks.

@mynameisraylights 27 дней назад

finally some qualified content, thanks.

@vasudevgupta9277 Год назад

Wow, thanks for the information.

@fragrancedeparadiso443 9 месяцев назад

Enjoyed the video, subscribed and liked

@mynaturalperfume828 Год назад

Concise. Brilliant! 🌹 ❤️ 💖

@jenjam021327 Год назад

Great info!

@t8624ra 10 месяцев назад

Excellent, very details, no fluff, to the point. Great video.

@AutomotiveForBeginners Год назад

an honest video. too much hype around drop shipping while hiding significant costs. done affiliate marketing and now on year 4, i;m starting to turn the wheel a bit more. it's not as easy as many people say it is.

@EVOMEMAROC 9 месяцев назад

The most informative video i have watched till now.

@gokulsharma7000 2 года назад

This was really good

@MorningsWithTheo 9 месяцев назад

Great video. I was gettin laid off and jumped head first excited by this dropshipping guru. $300 later I realized he didn’t teach me about shipping rates actual marketing. So now I’m diving into the details and trying to learn!

@mimim9461 3 месяца назад

hi, hope all is well. can you provide an update on how you are doing with shipping rates and marketing now than 5 months ago?

@joshuagordon2019 Год назад

Really great information man looking to start my on drop shipping/ e-commerce soon and this has put a better realistic perspective on it I don’t plan to get rich quick or anything and I have an idea on how to make it work for me but the end goal is to make it better for the customer and shipping times so I can see a better return in the future but taking it slow at first 🙌🙏❤️‍🔥

@Ogzentx Год назад

try the flying boomerang ball, it was a trend in dec, 2021. And as you probably know trends return every year so, you can now have a great start because Black Friday is coming up, Christmas is coming up and all sort of holidays in Q4

@amjee888 Год назад

I hope you succeed

@hazemal5508 Год назад

Thank you for your information presentation.

@mikhailhunter5277 11 месяцев назад

Drop shipping is not just an e-commerce strategy, it's also a brick-and-mortar strategy as well, In fact, it started out that way. I know business owners who had showrooms but they drop ship, then switch over to the internet.

@andrewhenshaw4067 10 месяцев назад

Great video!

@HealingWithJas Год назад

I was dropshipping swim swear for two years and had some "good" moments but lost an avenue to market my ads after FB implemented the new ad changes. Failed after that :( If I ever started again, I definitely wouldn't do clothing. I'd just pick a dumb toy or something to sell haha

@m.deborahakinlotan2270 4 месяца назад

Could you please tell me more why you wouldn't choose clothing?

@Mrsourcingagent 9 месяцев назад

great video with clear information

@thelaunchdude Год назад

Hey there! Great video!!!! What camera/lens do you use for your main talking head shots?

@esotericbaddie 9 месяцев назад

best video. answered all my questions

@persebra Год назад

your video is the first time anyone has mentioned that dropshipping has low-profit margins and how private labeling and wholesale is better. there are soooo many videos on dropshipping and nowhere near as many on private labels, aside from Amazon. I really don't want to fool with Amazon, aside from the KDP. KDP appears the only real game in town for self-publishing, but I would not do FBA.