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Hey everyone,
A question here for anyone who is dropshipping using local suppliers (aka not aliexpress).
Im looking to start a dropshipping store using US suppliers, selling to US customers but running it from outside the US as a non US resident.
Ive spent the last month researching all my tax obligations and doing my best to figure out the numbers before throwing my backpack over the fence, incorporating, and getting stuck into it however there's one area im still unsure about.
My biggest concern is that the profit margins will be too slim to work with and i can't get access to wholesaler prices until after ive incorporated and can provide them with an EIN.
Ive been working with the rough estimation that my product cost + shipping will be about 50% of what i can sell the product for (with the rest being adspend and profit) but would love to hear from someone who is currently using US suppliers (not aliexpress) who could give me a rough ratio of their product wholesale cost to product sale price.
Im planning that in the long run i'll have a decent sized email list i can market to, SEO traffic and possibly setup my own private label/fulfillment which will all help increase my profit margin.
Also more of a general question to anyone running a locally fulfilled ecom store (not aliexpress), does my business plan sound reasonable - it will be a niche store selling toddler products and accessories - i sometimes wonder if new stores can compete with Amazon and already established stores in established niches (especially in regards to SEO) - any thoughts?
Thank you everyone
A question here for anyone who is dropshipping using local suppliers (aka not aliexpress).
Im looking to start a dropshipping store using US suppliers, selling to US customers but running it from outside the US as a non US resident.
Ive spent the last month researching all my tax obligations and doing my best to figure out the numbers before throwing my backpack over the fence, incorporating, and getting stuck into it however there's one area im still unsure about.
My biggest concern is that the profit margins will be too slim to work with and i can't get access to wholesaler prices until after ive incorporated and can provide them with an EIN.
Ive been working with the rough estimation that my product cost + shipping will be about 50% of what i can sell the product for (with the rest being adspend and profit) but would love to hear from someone who is currently using US suppliers (not aliexpress) who could give me a rough ratio of their product wholesale cost to product sale price.
Im planning that in the long run i'll have a decent sized email list i can market to, SEO traffic and possibly setup my own private label/fulfillment which will all help increase my profit margin.
Also more of a general question to anyone running a locally fulfilled ecom store (not aliexpress), does my business plan sound reasonable - it will be a niche store selling toddler products and accessories - i sometimes wonder if new stores can compete with Amazon and already established stores in established niches (especially in regards to SEO) - any thoughts?
Thank you everyone
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