All dropshipping business owners want to be successful with their dropshipping venture. Yet, they find it hard to pick the kind of dropshipping store to start with.
Starting a business takes a lot of careful consideration and research. As it involves taking risks, failure is imminent. Without sufficient planning, things can go wrong along the way, causing a business to fall. The fear of failure causes many people to get stuck at the brainstorming stage, taking a long time comparing one product store vs general store vs niche store’s advantages and disadvantages.
Here are the advantages of starting one product dropshipping store.
One product stores are easy to manage and market, As you have only one product you can focus on marketing and try with different ads set for the same product instead of testing different products with facebook campaigns.
One product store does not require a hefty investment, you just need to set aside a small marketing budget and you can start with your ecommerce journey.
If you understand how facebook pixel works, then you would know that having one product won’t harm your facebook pixel.
Well, when you start selling one product, Facebook saves all the data to your profile and captures every email (even if they abandoned the cart). You will now have an extremely strong foundation that will allow you to create an entire brand that will 10x-100x your revenue for years. The end goal is to build a brand around 1 product that can eventually be scaled to be in big box stores across the world.
Also, Calculation for the one product store is simpler, alot of calculation is involved with dropshipping store, You need to keep in mind product price, shipping price, your profit margin, your facebook ads spend. So If you have only one product it will be easy to calculate your profit margin.
There are many disadvantages of one product dropshipping store as well, customers might be looking for similar products, so having more than one product gives them a choice to pick the product they are looking for.
Secondly, Dropshipping products will lose its potential so we will need to start over with new products. Also, Building Brand reputation for one product store will be difficult.
Now, Let us look at the advantages and disadvantages of Niche Dropshipping Store:
One of the main advantages of niche store, It attracts customers who are interested in more than one product. We can offer different varieties of a product and it will be easy to build brand reputation for a niche store.
Also, We can offer upsell products with some discount coupons and it will increase conversion drastically.
There are many disadvantages of niche stores as well. It's difficult to manage and market a niche store, You need to set aside for marketing budget and you will need more time and effort to manage the store.
Also, you might need to hire Virtual assistants for the store for order fulfillment etc.
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