Another question we get asked a lot from our clients and that is "How much can I make with a pre-built Shopify Store?", "What is the average return on investment?"
Short Answer: The money You make will depend on Your marketing efforts. We lose access to our clients' stores after delivery, therefore it's impossible to know the average store revenue.
After Delivery, We Lose Access to Our Clients' Stores
After we deliver a pre-built Shopify store, we immediately lose all access to the store, including access to the sales analytics dashboard. Therefore it is impossible for me to give an answer on the average revenue our clients typically make.
Marketing Drives Revenue
The revenue You can expect to make all depends on Yourself, and how much traffic You can drive to the store through marketing.
You could think of Your website as a store in the middle of the desert. If you want people to visit Your store, you will need to build roads that lead to your store and allow people to visit You. in ecommerce, You need marketing to drive people to your website and therefore make sales.
The more time you invest into learning, the faster Your revenue will start to grow. All of the information You need is available online. Every single problem You might encounter has already been solved by someone else before You. All You have to do is look for the answer and be creative.
Average Conversion Rate
We do, however, know that the average conversion rate of our pre built stores is around 1-4%, which means that out of every 100 visitors, you could expect at least 2 people to convert. Then Your revenue will depend on the product they purchase, the cost of that product and your profit margins.
Quality of Traffic
But even the conversion rate is difficult to measure, since it depends on the quality of Your traffic. For example, US traffic is a lot more likely to convert into sales as opposed to indian traffic since there’s a lot more buying power in the USA and the gross domestic product per capita is a lot higher in the USA.
Aren't Dropshipping Products Oversaturated?
You might think that Your product is oversaturated because there are too many competitors, yet you fail to realise that there is no such thing as oversaturated in ecommerce. Having competitors is a good thing, because it proves that there is an existing demand for Your product. It's a lot easier to break into an existing market and start making money as opposed to trying to sell a product nobody knows about, and for which there is no existing demand or target audience.
Don't Give Up
If you are a person who gives up easily and has trouble finding motivation to work, then you are probably going to fail in dropshipping as well. Building a dropshipping store is the exact same as building any other business. You need to invest a lot of time into building Your business and finding new customers.
If you have any questions, drop a comment below. Thank you!