wholesale dropshipping amazon shopify

what's up guys so in this video i'm,gonna be talking about the difference,between shopify drop shipping and amazon,wholesale it's probably the most,frequently asked question that i get,so i break it down really good in this,video um make sure to leave any,questions that you may have in the,comment section down below,also i think i'm going to be dropping,merch soon and there's one of the,designs that we came up with probably,putting this on a hoodie,if you like this design also let me know,in the comment section down below,i really want to see the feedback on,this so,what's up guys welcome to episode one of,the econ mastery podcast my name is will,founder of econ degree university and in,this episode i'm going to be showing you,how to get started in e-commerce so if,you're someone that's a beginner,and you just found out about drop,shipping or you just found out about,amazon fba amazon wholesale,and you really don't know what direction,to go to i'm going to be showing you,exactly,what each one entails and which one is,best for you,so if you're watching this on youtube,you'll be able to see the whiteboard but,if you're listening to this,on you know spotify apple podcast,whatever just follow along with me,but the first thing that you should be,getting into,uh once you learn about this online,space especially if you don't have a lot,of money,is drop shipping this is where i made my,first hundred thousand dollars,online and basically what it entails is,selling products online,without actually having to keep any,physical inventory right so,the most common questions i get about,e-commerce as far as you know drop,shipping in amazon wholesale,is you know what's the cost what type of,budget do i need,you know is it saturated how difficult,is it,and basically like what are the,requirements to get into this business,so i'm gonna break down,each one of those for both the drop,shipping and,amazon wholesale if you don't know what,amazon wholesale is,it's basically selling name brand,products on amazon,so you don't need to create your own,product you don't need to you know find,products from china,you basically partner with these big,name brands that are already killing it,on amazon,and joining their listing as a,third-party seller,and basically you buy their products,wholesale directly from the manufacturer,or from distributor or from the brand,and then you sell it on amazon for,retail so,but let's get into these four things,cost saturation,difficulty and requirements so for drop,shipping,cost you can really dropship if you have,at least five hundred dollars set aside,to go into marketing because like i said,with drop shipping,you don't really you don't ever put any,money into anything other than marketing,the only thing you're gonna be spending,money on,is the facebook ads uh snapchat ads,whatever marketing platform that you're,using you're gonna be spending money,there,once you sell the products on your,website and receive the money from the,customer,that's when you're actually going to be,shipping out the product so you never,come out of pocket,besides the marketing aspect so if you,have 500,then you know you can get into the drop,shipping game,as far as amazon wholesale i recommend,500 to 1000 plus,at least and this is because unlike drop,shipping,when you're doing amazon one they don't,pay you out every single day,when you have a drop shipping business,on shopify they pay you every single,business day,so if you make a thousand dollars in,sales on your online store,the next business day that a thousand,dollars is being deposited in your,account,as far as amazon they pay you out every,two weeks,so you need the capital to front those,orders,until you get your you know buy your,bi-weekly payout,and also amazon you actually have to you,know have inventory you have to buy the,product from the supplier and then,how you either send that product to your,house or you send that product to an,amazon warehouse,and you do amazon fba for you all that,are listening that don't know what,amazon fba is it,stands for fulfillment by amazon and,basically all that is is,instead of you having to ship out the,product you get the product shipped to,amazon's warehouse and every time you,get orders,amazon ships it for you we're prime,shipping it's the most passive way,really to make money online so drop,shipping you need 500,at least amazon wholesale 500 to 1 000,if you want to get started,the more money you have then you know,the better but 500,000 just to get you know skin in the,game now to saturation right with,is any of these markets saturated the,answer to that,is no okay a lot of people say drop,shipping saturated,a lot of people say amazon fba is,saturated but those are just people that,got in the game,and they got up and they didn't,make any money so now they're salty but,look,drop shipping or e-commerce in general,is growing,every single year jungle scout actually,did,a study on amazon and they actually said,that 86,of amazon sellers are profitable and 50,of amazon sellers are third-party,sellers like me,which basically means they're people,just like me that are buying,inventory from brands and distributors,and selling it on amazon so most likely,the stuff that you bought on amazon was,from a third party seller,so drop shipping is not saturated it's,actually just going to get,easier because more and more people are,going to buy stuff online and,same goes for amazon especially because,of this pandemic you know a lot less,people are going to,actual grocery stores malls things like,that and they're buying things online,and what's the most credible,e-commerce store out there it's,amazon.com so,saturation don't worry about that don't,let people you know put that word in,your head,now third thing is difficulty so which,one you know which one is easier to do,or is any of these hard to do i would,say,the easiest one to do is amazon,wholesale line them up,and the reason being for that is because,you don't need to be good at marketing,literally,we did over 350 000 in sales,uh during the pandemic and that was with,zero dollars spent on ads and that's,because,amazon's organic traffic is crazy,so you don't need to be good at facebook,ads you don't need to be good at,snapchat ads because,amazon's already getting that traffic to,you they have hundreds of millions,of amazon prime members shopping on,there every single day,so amazon wholesale is definitely easier,you just need a little bit more money to,start,drop shipping you know i would say it's,intermediate just because,the concept is simple but the hardest,thing about drop shipping is you have to,be able to find a product so you need,good product research methods,and then second you have to get decent,at at least,one advertising platform so you got to,get decent,at least you know facebook ads snapchat,snapchat ads or,google ads you need to get decent in one,of those so it's a little harder than,amazon wholesale because you need to be,a good marketer,now fourth thing is requirements so what,do you what do you need to actually get,started,in either drop shipping or amazon,wholesale well for drop shipping you,don't need anything you just need this,right here you need capital,you need at least 500 to start i,actually started with less and i know,people that started with less but,i just tell people 500 to be safe you,need that to start,and you need to be 18 years old to have,a shopify account but i do have,students that are younger than that but,you know i just i would say you need to,be 18 and you have at least 500,as far as amazon wholesale uh you need a,couple more things,so you need a little bit more money and,you actually do,need to to execute in the method that i,teach which is amazon wholesale the most,passive way to make money the easiest,way to make money on amazon,you need an llc and you need a,reseller's permit i live in georgia,and in llc if you go to the secretary of,state website is only a hundred dollars,here,and the resellers permit is actually,free now that's not true for all states,but i can only,only speak in the state that i live in,but uh yeah for amazon wholesale you,need these two extra things,and uh don't let that scare you don't,let that stop you because,like i said in georgia and llc's 100 the,resellers permits free,and it's not hard to get to get your llc,go to the secretary or state website of,wherever you live,and to get your resellers premium you,got to go to the department of revenue,website,and you can get that it might be called,something different in your state you'd,have to do your own research,but from my experience it's either,called a reseller's permit,a sales tax certificate or a reseller's,license,so i hope you found this episode helpful,i hope that really covered everything,that you would need to know about,getting started in each one of these,industries,like i said i got started in drop,shipping that's how i made my first,hundred thousand dollars online,and then i later moved on to amazon,wholesale,and made over six figures in one month,selling one product,you know in that industry so again i,hope you like this episode,and i'll see you in episode,you

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