👉 Ready to start your own online store? Start here: https://dropshipunlocked.com/online-event?el=blog-85-how-to-dropship-profitably

🗣Hosts Lewis Smith and James Eardley delve into the essential topic of how to run a profitable dropshipping business. 

We break down our current model, explain why we prioritise profits over revenue, and provide actionable steps for those who are either not yet profitable or just starting out.

👉 Do you know someone who would love this? Share this video ➡️https://youtu.be/6C55AFL0vuk?si=e2A8cFAqg5TWuwep

---------------------------------------------------------

Links and Resources Mentioned:

Pick up a copy of Lewis’ book: https://htabook.com 

Get Shopify for £1 a month for 3 months: https://www.dropshipunlocked.com/shopify 

Get a free trial with a professional phone line: https://www.dropshipunlocked.com/circle 

---------------------------------------------------------

Key Takeaways:

★ Focus on High-Quality, High-Ticket Items: Selling premium products offers higher profit margins, leading to significant business growth.

★ Build Strong Supplier Relationships: Partnering with reliable, local suppliers ensures better customer satisfaction and repeat business.

★ Effective Marketing Strategies: Optimising ads and targeting marketing efforts increase conversion rates and profitability.

★ Start with Solid Foundations: Choosing a profitable niche and developing a comprehensive marketing plan are crucial for long-term success in dropshipping.

---------------------------------------------------------

Learn More:

 ➡️ When people are ready to create time and financial freedom for themselves, they visit - https://www.dropshipunlocked.com/free?el=blog-85-how-to-dropship-profitably

 ➡️ Subscribe to The Dropship Unlocked Podcast to stay up-to-date on the latest episodes, and leave a like to help others discover the show.

---------------------------------------------------------

Topics Discussed:

In the "How To Dropship Profitably [The Blueprint] | Dropship Unlocked Podcast Episode 85", Louis Smith and James Adly discuss the importance of prioritising profits over revenue in dropshipping businesses. They share their experience of transitioning to high ticket, high quality item dropshipping and the benefits of partnering with UK-based suppliers. The speakers also emphasise the importance of building a brand and focusing on profits for a substantial business valuation and sustainable income. They encourage those not yet profitable to pivot to high-demand niches, build relationships with reliable suppliers, and use targeted marketing strategies. The potential profitability of starting a dropshipping business in smaller markets like Ireland is also discussed, with the importance of thorough data-backed research emphasised.

• 00:00:00 In this section, Lewis Smith and James Eardly discuss the importance of prioritising profits over revenue in dropshipping businesses. They share their experience of transitioning from traditional dropshipping models to high ticket, high quality item dropshipping. According to them, focusing on premium products offers a higher profit margin and attracts wealthier customers. They also emphasise the benefits of partnering with UK-based suppliers for faster delivery times and easier communication. Furthermore, they stress the importance of building brands rather than just selling products and disappearing. This approach not only makes the business more valuable when it comes to selling but also encourages customer loyalty and repeat purchases.

• 00:05:00 In this section, the speaker discusses the benefits of the high ticket home turf advantage model for dropshipping businesses. According to the speaker, this model allows for significant profit per sale, making it easier to scale and cover mistakes. Additionally, using local suppliers ensures faster delivery and fewer quality issues, leading to customer trust and repeat business. The speaker also emphasises the importance of focusing on a niche to build a long-term brand rather than chasing short-term gains with trending products. The speaker shares personal experiences and success stories of members making large profits from single sales using this model.

• 00:10:00 In this section, the speaker emphasises the importance of building a solid and profitable business, using the analogy of a wardrobe. He shares his personal experience of switching from selling cheap, flimsy products to investing in better quality items, which resulted in a more stable and profitable business. The speaker argues that prioritising profits over revenue is crucial for sustainable growth and financial stability. He explains that profits ensure cash flow for reinvestment, act as a buffer against unexpected expenses, and enable businesses to invest in better marketing, product development, and customer service. Additionally, the speaker notes that profit is the primary metric used to value businesses for sale.

• 00:15:00 In this section, the speakers discuss the importance of focusing on profits in a dropshipping business. They share an example of business owners, Kenneth and Adam, making a profit of £2,000 per sale, which equates to £6,000 in monthly profit. The business valuation is then calculated based on a multiple of the monthly profit, which could reach up to £198,000. This profit-focused approach allows business owners to sell their business for a substantial amount and even rinse and repeat the process. The speakers emphasise that profitability is crucial for a high business valuation and for the monthly income that can be taken from the business. They suggest that those not yet profitable should focus on high-margin products, improve marketing efficiency, and optimise conversion rates to increase profitability.

• 00:20:00 In this section, the speakers encourage listeners who are not yet profitable in their dropshipping business to view their current situation as valuable data, indicating the need for change. They suggest pivoting to sell products in high-demand niches and building relationships with reliable suppliers offering quality products and premium profit margins. Targeted marketing strategies, such as Google ads, are also recommended for reaching customers actively searching for the products. Lastly, focusing on the home turf advantage model, which prioritises profits from the start, is advised for new entrepreneurs. The speakers emphasise the importance of quality over quantity, strong supplier relationships, and customer satisfaction for long-term success in the business.

• 00:25:00 In this section, the speaker discusses the potential profitability of starting a dropshipping business in a smaller market like Ireland, despite its population of only 5 million. He advises going with a broader niche and emphasises the importance of sufficient demand and available suppliers. The speaker suggests using keyword research to determine if there are over 10,000 monthly searches for the niche in question, as this indicates adequate demand. Although the options may be more limited in a smaller market, the speaker is confident that thorough research will help find profitable niches.

• 00:30:00 In this section, the speakers emphasise the importance of data-backed research when choosing a niche for a dropshipping business. They suggest adhering to validation criteria, such as high price points, to ensure the niche has a strong potential for success. The speakers also encourage listeners to carefully research and validate their niche before signing suppliers and running ads. A recent review from Paul Bicknell is highlighted, expressing gratitude for the podcast's valuable content for beginners in the UK market. The speakers encourage listeners to share the podcast with others who may benefit from it and offer a shout-out to those who leave five-star reviews. The episode concludes with a reminder to grab a copy of the speaker's book, "The Home Turf Advantage," for guidance on building an ecommerce venture.

---------------------------------------------------------

FOLLOW:

Instagram: https://www.instagram.com/dropshipunlocked/ 

Twitter: https://twitter.com/DropshipUnlockd 

LinkedIn: https://uk.linkedin.com/company/dropship-unlocked 

Youtube: https://www.youtube.com/c/dropshipunlockedlewissmith 

Website: https://www.dropshipunlocked.com/ 

---------------------------------------------------------

🌏Want to create location, time and financial freedom? Watch Our Free Training ➽ https://www.dropshipunlocked.com/free?el=blog-85-how-to-dropship-profitably

---------------------------------------------------------

★★★Dropship Unlocked - Lewis Smith★★★

How to Launch a UK Dropshipping Business Offering Next-Day Delivery...

...Even If You Don't Yet Know Which Products To Sell

🌏Watch Our Free Training ➽ https://www.dropshipunlocked.com/free?el=blog-85-how-to-dropship-profitably

Join Lewis Smith, Founder of Dropship Unlocked as you build and launch your high-ticket dropshipping business.

📺 Don't Forget to SUBSCRIBE to our Youtube Channel! (Its Free)

🔰 SUBSCRIBE here ➽https://www.youtube.com/channel/UC9r29zg3RE4e-zDDwVjdJOA?sub_confirmation=1