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Today I was shopping at Sports Chalet and Sports Authority and I was just browsing for stuff. As some of you know I have a few online businesses that sell niche but related items. My stores are 100% dropshipped right now which is nice and easy.
I am thinking of opening a store that ties all my niche businesses together. This is my dilemma...
For example let's say:
Store 1 - sells watches (dropshipped)
Store 2 - sells silver necklaces and bracelets (dropshipped)
Store 3 - sells gold jewelry (droppshipped)
Store 4 - sells rings and earrings (dropshipped)
Store 5 which would be the new store is a "Jewelry Store"
If I open store 5 - I have all the suppliers I need to create a respectable jewelry store. However opening this type of store would make dropshipping a nightmare. IF someone orders 1 watch, 1 necklace and 1 ring, I would have to send that order to 3 separate dropshippers. The customer would recieve 3 packages. I would pay 3x the shipping costs.
So the logical thing to do would be to carry watches, necklaces and rings at my store and begin shipping things out myself.
Let's start with the con's.
1) I have to ship everything myself or in house
2) I have to pay for and carry inventory
Pro's
1) If I carry inventory, I carry it for 2 stores. If I have 100 watches, they can sell through store 1 or store 5.
2) I can buy in bulk and my profits for stores 1-4 go up.
3) I have total control of stock
4) I can import from china and rebrand and repackage items (create a brand)
5) My selection of products becomes unlimited (this is due to many products having no dropship program)
Honestly, I don't know if the time is worth it. But in my research many tiny stores start this way and become huge. Basically, I can't call Under Armour or Nike and ask if they dropship. But if I have a large store I can certain call and purchase a pallet of their clothes. Once I get top brands into Store 5, I can sell them in stores 1-4 also. This would give me a huge jump above the other dropship only stores that can't get these brands because they are 100% dropshipped.
What do you guys think??
I am thinking of opening a store that ties all my niche businesses together. This is my dilemma...
For example let's say:
Store 1 - sells watches (dropshipped)
Store 2 - sells silver necklaces and bracelets (dropshipped)
Store 3 - sells gold jewelry (droppshipped)
Store 4 - sells rings and earrings (dropshipped)
Store 5 which would be the new store is a "Jewelry Store"
If I open store 5 - I have all the suppliers I need to create a respectable jewelry store. However opening this type of store would make dropshipping a nightmare. IF someone orders 1 watch, 1 necklace and 1 ring, I would have to send that order to 3 separate dropshippers. The customer would recieve 3 packages. I would pay 3x the shipping costs.
So the logical thing to do would be to carry watches, necklaces and rings at my store and begin shipping things out myself.
Let's start with the con's.
1) I have to ship everything myself or in house
2) I have to pay for and carry inventory
Pro's
1) If I carry inventory, I carry it for 2 stores. If I have 100 watches, they can sell through store 1 or store 5.
2) I can buy in bulk and my profits for stores 1-4 go up.
3) I have total control of stock
4) I can import from china and rebrand and repackage items (create a brand)
5) My selection of products becomes unlimited (this is due to many products having no dropship program)
Honestly, I don't know if the time is worth it. But in my research many tiny stores start this way and become huge. Basically, I can't call Under Armour or Nike and ask if they dropship. But if I have a large store I can certain call and purchase a pallet of their clothes. Once I get top brands into Store 5, I can sell them in stores 1-4 also. This would give me a huge jump above the other dropship only stores that can't get these brands because they are 100% dropshipped.
What do you guys think??
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