There are literally hundreds and thousands of Shopify owners who are making a lot of money on Shopify. But the question is –
Are Shopify stores profitable for beginners? and can you still do it in 2020?
Yes, Shopify is profitable and is a great way to start making money online as a beginners. But, there are a lot of factors that influence the profitability of a Shopify store.
So, you might be a blogger, freelancer or some random guy who is completely new to the online money-making space. Whatever you may be, Don’t worry, I will help you decide whether or not you should start a Shopify store this year.
Disclaimer – This page may contain links to affiliate websites, and we receive an affiliate commission for any purchase made by you on the affiliate website using such links.
Are Shopify Stores Profitable?
Shopify Stores can be Used in 2 Ways
Before I list down the factors that affect the profitability of Shopify stores. There are 2 ways by which Shopify owners make money. They are –
1. Selling Their Own Products
People sell products that are made and designed by them. This is a great way to make money if you have a certain set of skills.
The product can be anything, ranging from T-shirts to just Greeting cards.
This method is mainly opted by famous people. They literally bring up their own brand and make a small side income from it.
For example: If you follow MKBHD(a Tech Youtuber), he has a store which has his own branded T-shirts.
Or you would have definitely heard about the Egg that broke Instagram’s record for the most amount of likes. When they became famous, That person behind the page started a Shopify store!
But, When you use this method, you would need store and ship the products to the customers yourself. Which might get hectic after some time.
Dropshipping is how most people make money out of Shopify. Many online businesses have gone to make sales worth millions by just dropshipping.
If you don’t know what dropshipping is and want to start a dropshipping store for free, Be sure to check out this article.
Since you do not possess any item that you sell, there is no need to worry about shipping and other kinds of stuff.
Which One Should You Choose?
Dropshipping would be a better choice for you unless you are some kind of a famous person. Or if you have some particular unique product to offer.
Dropshipping when done right can replace your 9-5 job easily. It has helped thousands of people to earn a full-time income and make a living on their own.
Also See :-
- How to make a Great Landing Page and Build an Email List in 2019!
- The Complete Guide To Affiliate Marketing For Students
- How to get your AdSense account Approved in Less than 2 Months
Factors affecting the Profitability of Shopify Stores
There are basically many factors that can influence a store’s profitability. They are :
1. Choosing The Right Product
The product that you are selling is the most important factor for a Profitable Shopify store. If the product isn’t good enough, No one will buy your product.
For Example: If you are selling a T-shirt which is pretty much available everywhere, You won’t succeed with that product.
2. Promoting it to The Right Audience
Generally, most people use Facebook Ads to generate traffic to their Shopify store. The highly targeted nature of Facebook Ads helps the store owners to reach the products to the right customers.
But, If you do not target the right audience, you probably won’t reach anywhere. Targeting doesn’t always have to be done using Facebook ads. There are other free methods like using Instagram and other Social media.
3. The Perfect Price
Cheaper products turn out to produce the best results. So, Try selling your product at a cheaper price.
But if you are a dropshipper, try selecting products that are cheap and are of good quality from the wholesaler.
4. The Shipping Time
Shipping time is a great problem for Shopify users. Delivering your product at a faster rate is always appreciated by customers.
The timing usually affects dropshippers who generally import products from china. So, on average, it takes at least 15 -20 days to reach a customer. Some customers don’t mind that, but some may find it difficult.
5. Customer Service
Customer service is of great importance in any eCommerce store. People look for after-sales service, refund, replacement guarantee before they order from your store.
So, make sure you specify all the services that you could perform and all that you can’t.
Why do most people buy from Amazon, eBay and others?
Yes, Customers trust them. They provide quality products as well takes care of the after-sales service.
So, That’s exactly what you need to do. You need to build trust within your customers, so that they may return to your Shopify store to buy more.
What Should You Do?
Shopify Stores are definitely Profitable if you take the above things into consideration and build a store accordingly.
Once you make some sales within the first 14-days, you can easily upgrade to the basic plan on Shopify.
Even if you don’t make any sales within the first 14 days, try for a little longer by paying for the basic plan. If you are struggling to make sales, check out this Shopify tutorial
Conclusion – Are Shopify Stores Profitable?
Building profitable businesses online takes time. Let it be a blog, an affiliate marketing website, an online store or anything, it all takes time.
Failure is also a part of this. Before I started this blog, I have failed countless times. This blog is, in fact, my Fourth one. Every time I fail, I look back and see where I went wrong. Then I would again repeat the process.
Literally speaking, It took me 2 years, to fully understand each of the concepts and techniques. And that’s how you build a business.
Just make sure that You Never Quit when you need something badly.
Hope I helped.