Did you know there is more than one way to sell your products?
I want to share with you three different ways to sell physical products: wholesale, product sales, and dropshipping. Each method has pros and cons, so let’s dive in.
Firstly, wholesale involves buying products in bulk from a manufacturer or distributor and selling them at a markup to retailers. Wholesale is a great option if you have the capital to invest in a large inventory up front and can negotiate better prices from suppliers.
Pro: You can make and sell volume vs. one at a time.
Con: You may need additional capital to buy supplies to complete the order and hire people to help you.
Secondly, product sales are the most common way to sell products. You make your own products and sell them to customers through a physical storefront, online store, or even social media.
Pro: This method gives you complete control over pricing and inventory.
Con: Your income can fluctuate, leaving you on a financial rollercoaster ride.
Lastly, dropshipping is a partnership with a supplier who handles inventory and shipping directly to customers. You market the products and when a customer places an order, the supplier ships it to them.
Pro: Dropshipping is ideal for those with limited funds and who don’t want to deal with inventory and shipping logistics.
Con: It’s competitive and No control over the supply chain
But how do you know which method is right for you? It depends on your budget, goals, and preferences. If you have the capital and prefer more control, wholesale or product sales may be the way to go. If you have limited funds and don’t want to deal with logistics, dropshipping could be your best bet.
Whichever method you choose, success in selling physical products requires hard work, dedication, and a willingness to learn and adapt. If you’re interested in learning more about these methods, consider joining The Roadmap to Revenue to learn how to make additional income in your business. Good luck!
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