Making Money with an Autopilot Storefront
One of the most effective ways to make money is to set up a system that allows you to automatically make money even when you’re not paying attention to it. Stocks, shares, real estate, precious metals, works of art, collector’s items – all these tend to earn money even when you’re not actively monitoring the whole operation.
Now there is one business model out there that allows you to earn money even when you’re not actively overseeing the whole system. Once you’ve set it up and everything is running smoothly as intended, you only need to spend an hour or so a day going over the whole system.
The heart of this “autopilot storefront” is dropshipping, and it plays a crucial role in helping you set up a storefront without you having to manage it like you would a regular online store.
What is Dropshipping?
Simply put, dropshipping is all about selling something that some other store has in its inventory.
That ‘other store’ will handle shipping the items, which means all you need to do is find someone who’s willing to buy said items.
In short, you’ll handle the job of marketing the items – setting up a website, promoting your products wherever they can best sell – and your supplier will take care of sending the items to your customers.
If you’d like to learn more about dropshipping, we here at Chinavasion have a page all lined up to explain the details. Just click here to check it out!
What is an Autopilot Storefront?
Basically, an autopilot storefront is a digital store that can function on its own even when you aren’t actively monitoring the service.
This involves either setting up your own storefront – aka a website with its own checkout and landing pages – or selling products on a separate storefront. Amazon and eBay are two prominent examples of the latter.
Once you receive payment for your products, you then pay for the products to be supplied by your dropshipping partner while forwarding your customers’ shipping addresses to said dropshipping partner.
Why Should I Bother?
Setting up an autopilot storefront gives you a two distinct advantages: you’re selling something you don’t have, and you don’t even need to be right there when the sale takes place.
First off, you don’t need a lot of capital to start a dropshipping store. You don’t even need to pay for the products in advance, pay any storage cost or have them shipped to you. You take the money that your customers pay you, and you use that money to purchase the items they want to buy.
Second, you don’t need to spend a lot of time overseeing your store. If you’ve automated everything, all you need to do is check the status of all the orders. Even if you choose to just set up a website or storefront, you only need to check in once or twice a day to forward payments and shipping addresses to your dropshipping partner.
What if I don’t know how to setup a Website?
There are countless web site hosting services many of who can help you design, code and setup your website, so even if you don’t know your HTML from your Java its easy to outsource the webpage setup. There are even many independent operators such as those on the website fiverr.com who can design and code a webpage to your specifications without you needing to spend much money.
What’s the Catch?
The only real downsides to dropshipping is that shipping fees can chip away at your profits while you don’t have that much control over the shipping process.
It can be a lot cheaper to just ship items in bulk to a single local address and then hire local couriers to deliver the products to your customers. You will, however, have to invest in both storage and transportation – meaning you’ll have to spend more time overseeing your operations.
And if you choose the wrong partner, you could end up promising products that are out of stock or being on the receiving end of a delayed shipment. Worse still is when you ship a faulty or fraudulent item – something that will hurt you a lot more than it will hurt your dropshipping partner.
Chinavasion partners with many droppshippers and with our in house QC and careful stock control management we are able to weed out any faulty goods and will only advertise products that we have in stock so you can avoid these pitfalls when working with us.
In the end though, the potential passive income you can get from setting up your own automated storefront is definitely worth checking out. The capital requirements are low, so all you need is time and a little effort to set it all up – perfect for the budding entrepreneur looking to capitalize on a profitable niche!
Droppshipping is also the risk free first step before setting out on your own e-commerce store and allows you to test the waters and products before investing heavily in stock and logistics. A perfect way to start your business.