🗣 In this episode, hosted by e-commerce entrepreneurs Lewis Smith and James Eardley, we're unveiling what we believe is the biggest business opportunity of 2024.
If you've been searching for that one golden chance to transform your life and financial future, this episode is a must-listen.
★ Trends and Market Dynamics: Explore the current and future trends that make high-ticket dropshipping a promising opportunity in 2024, from the rise of niche markets to the increasing comfort of consumers with online purchases of high-value items.
★ Harnessing AI for Success: Discover how artificial intelligence can be leveraged to streamline and optimise various aspects of your dropshipping business, from marketing to customer support, improving efficiency and the customer experience.
★ Financial Advantages: Understand the financial benefits of high-ticket dropshipping, such as higher profit margins, minimal capital requirements, and a low-risk entry point into e-commerce.
★ Getting Started the Right Way: Lewis shares his key advice for those looking to start a high-ticket dropshipping business in 2024.
🗣 In this episode, hosted by e-commerce entrepreneurs Lewis Smith and James Eardley, we're unveiling what we believe is the biggest business opportunity of 2024.
If you've been searching for that one golden chance to transform your life and financial future, this episode is a must-listen.
★ Trends and Market Dynamics: Explore the current and future trends that make high-ticket dropshipping a promising opportunity in 2024, from the rise of niche markets to the increasing comfort of consumers with online purchases of high-value items.
★ Harnessing AI for Success: Discover how artificial intelligence can be leveraged to streamline and optimise various aspects of your dropshipping business, from marketing to customer support, improving efficiency and the customer experience.
★ Financial Advantages: Understand the financial benefits of high-ticket dropshipping, such as higher profit margins, minimal capital requirements, and a low-risk entry point into e-commerce.
★ Getting Started the Right Way: Lewis shares his key advice for those looking to start a high-ticket dropshipping business in 2024.
everybody who's listening to this has the opportunity to make this year truly exceptional, massive opportunity when you first came across it, but I think every year is becoming more and more of an opportunity. Today, we're going to dive into why we think this is such a great opportunity for you. If you're looking to start a new business this year, you do
James Eardley:
the numbers. And I think some people listening or watching now would have heard you go through those numbers. And the penny starts to drop.
Lewis Smith:
Pivotal because it's not the 500 pounds profit. This is symbolic of the fact that I'm now never looking back.
James Eardley:
So if we can capitalize on getting into this trend now, we can help businesses that run with even less maintenance and generate more profit in the future. That feeling
Lewis Smith:
it's an amazing feeling. Because once you realize that what have I been doing? Like the last seven years what what have I been doing? I've been trading my time for money, and I could have earned twice wired in a day just by thinking. Welcome to the dropship unlocked podcast your key to unlocking the secrets of high ticket dropshipping. I'm Louis Smith, founder of dropship unlocked and with me is our Client Success Coach James Early. Now when we're not recording podcast episodes, we're running our own e commerce businesses and helping aspiring entrepreneurs launch their own high ticket drop shipping businesses. So if you're ready to learn how to build your own six, or even seven figure business, pick up a copy of my book, the home turf advantage, whether you're looking to replace your income or launch a side hustle. I wrote this book as a roadmap to help you launch a low maintenance, high profit e commerce business that gives you the freedom to spend more time with your family traveled the world and work on your own terms. Ready to join us visit H T A book.com To get your copy today. Now sit back, relax and let's unlock your potential with a dropship unlocked podcast. Today's
James Eardley:
episode is designed specifically for anyone that is searching tirelessly for that opportunity that can propel them towards their goals and dreams were offered on that quest, I think for that one chance that one leap of faith that we want to take that will push us toward that golden opportunity to transform our lives. And this year, I believe presents a unique opportunity that we believe is the key to unlocking your potential. we've sifted through trends, we've analyzed the market data. And we've zeroed in on what we believe is the single most lucrative opportunity in the current landscape. So stay tuned as we dive deep into this incredible opportunity, which is wide open for anyone who's ready to put in the effort to shape a remarkable future. So Louis, what do you think is the best opportunity for people this year? Yeah, this
Lewis Smith:
is an exciting topic to be discussing today. The start of a new year always brings with it a new level of excitement and optimism for us as entrepreneurs. So everybody who's listening to this has the opportunity to make this year truly exceptional. And I know that we can discuss a very lucrative method for people to use to achieve their goals in this episode, in fact, is the business model that I've used to generate almost 5 million pounds in sales over the last few years. And it's the business model that I know you use James, along with hundreds of our other dropship unlocked members to achieve incredible results. And it's running an E commerce business. But more specifically than that it's using the specific model that I've used, which is called the home turf advantage model. Now I wanted to just quickly explain how this came about for me because I used to work in a corporate nine to five job I had the nice securities that private health care, the company car, the gold standard pension, and I used to make anywhere between about three and a half to four and a half 1000 pounds per month as my salary. And I listened to podcasts on my way to work and I'd watch YouTube videos. Once I caught the bug for entrepreneurship after I'd read The Four Hour Workweek book by Tim Ferriss. And I was listening to all these different business models and money making ideas and people were talking about affiliate marketing being a great model to get started with or blogging being your way to success and making your money through Google AdSense. And people also talked about Amazon FBA Fulfilled by Amazon as an E commerce business model or retail arbitrage where you go into stores and check what the price of something is. And then you can list it and very manual processes some of these, but none of them stacked up to quite what I wanted. I had some specific criteria in mind for the type of business that I wanted. Because I wanted it to be low maintenance. Eventually I didn't want to create another job for myself. I wanted what would eventually become a lifestyle business that I could run. But by doing so I didn't want to sacrifice the profitability. I still wanted it to have very high profit per sale, but I also wanted it to At low admin, I didn't want loads of hassle loads of emails, stressful, you know, feelings every time I opened up my laptop. And so I just needed it to be highly scalable, but also provide me with a great lifestyle. And so I was looking around. And I thought that this is not going to work with the low priced items from China model that everybody talks so highly of, you know, where you're told to find these trending widgets, like a pair of sunglasses from China, and then you put them up on a Shopify store and then ship them over to your customer and hope that they don't notice it takes a month to be delivered. And then when it does, it arrives in this crumpled up package, and it's really poor quality of the things snaps as soon as they use it. And and then I just thought, that's not the kind of business that I want. I'm not going to be proud to stand behind that, am I so I kind of had to look around and think well, how can I create a business that's not going to disappoint customers that isn't going to end up with really long delivery times, that's not going to lead to bad reviews, because it's poor quality products. And I thought, well, hang on a sec, this model works in terms of drop shipping, because companies like Wayfair, who do $12 billion per year in sales, their drop shipping 95% of their products, as in, they don't carry stock for 95% of their products, they come directly from the suppliers or the manufacturers. So as they get Okay, well, it definitely works. What about if I sold products at a higher price point. So for example, if I made a sale for a product that was 2000 pounds, at a 30% profit margin, that would net me 600 pounds in profit. So I've kind of worked backwards and thought, well, if I'm on three and a half to four and a half, 1000 per month, depending on like the commission for that month, the income that I would need to replace that income, I'd only need to make seven or eight sales per month, if I was making 600 pound profit per sale, seven or eight sales, and I'd have replaced my income. So that's like making one sale every four days. I thought, well, that'd be a pretty boring business, like I wouldn't have to do anything for, you know, four days, and then another sale better deal with it. And I thought, well, I don't know exactly the route yet. And I didn't want to go into it over confidently. But deep down, I'm sure I can do a lot better than one sale every four days. And so today, we're going to dive into why we think this is such a great opportunity for you. If you're looking to start a new business this year.
James Eardley:
I think it is a huge opportunity this year, it was a massive opportunity when you first came across it. But I think every year is becoming more and more of an opportunity as the barrier gets lower. And as we get more tools to help us to create these businesses. And I had a similar moment to before I started with my own high ticket dropshipping business where you do the numbers. And I think some people listening or watching now will have heard you go through those numbers. And the penny starts to drop. When you realize with a high ticket dropshipping business, the amount of admin is not very high from four orders, you know, or an order every four days. And suddenly you've got a business that will match and then overcome the initial salary that you've got in a nine to five job. But you also get all of the freedom that comes along with it as well. So hopefully we can dig into how we believe that anyone can also make the most of this opportunity if they're willing to work hard. But let's start with the basics. So high ticket dropshipping. For people that aren't necessarily familiar with this and aware of this opportunity, what is it? And why do you think it's such a big opportunity? Sure.
Lewis Smith:
So let's run through it. So a drop shipping business is an E commerce business that sells products online, and arranges for suppliers to deliver products directly to customers. So you're not holding the stock, you don't even touch the products at any time. So it's a purely online business for you, you just have to have a laptop, or eventually you could run it from your phone. Right? So high ticket dropshipping involves selling more expensive items, which have a higher profit margin. So remember, we talked about the idea of selling the sunglasses, which might give you a you know, a 10 pound profit per sale or something versus selling something for 2000 like a luxury home furniture or a big stand up electric office desk or a home treadmill or you know, something like high end gym equipment, something like that. Those are the types of products that you would see people selling or a luxury barbecue is the example that we often use. And as we move into this year, ecommerce continues to grow as well. But the way to think about it is high ticket items aren't just luxury purchases, they're not just kind of one off luxuries, that investments for consumers because often they're passionate about the things that they're buying. And so they'll they'll buy them and then sometimes there are ways you can cross sell or upsell other things as well. So you're really building a brand by doing this and building a customer list as well that you can resell to down the line. Now this didn't start to really come together for me until I signed my first few suppliers I built my Shopify store and I was still working my job at the time so I was doing it kind of evenings and weekends and I was off work Ill for one day which is quite rare for me I had a virus or something so I was like feeling sorry for myself spent the day in bed and I'd uploaded products the last few days but I just wasn't thinking about the new online business at this When I guess I'd been excited, but you know, when you're ill, your mind is just not on it. And so I was lying to bed and then suddenly, my phone made a sound like a cash register, you know that Ching sound that cash registers do. And I was like, hold on a second, and I looked down and it said 693 pounds. And then 10 minutes later a sale came through for 799 pounds. And later on, there was a sale for 1337 pounds. So the strange amounts, and I was like, I'm gonna second from those three sales. That and like this is the moment it first came to life. For me, I realized I'd made 848 pounds in profit, if you assume a 30% margin, which I don't exactly the margins back then. But the that's probably the average amongst our suppliers, minus the little that I spent on ads. I mean, I'd be left with at least 500 pounds profit, probably more. But say I'd spent a couple of 100 pounds on that to get those first few sales 500 pounds in profit. That was more than I had, or would have earned in a day had I not been ill and gone to work and sat in traffic for two hours and gone into, you know, an office and spent the entire day out of my home. And at that moment, I just remember calling my wife and my mom and my dad and explaining or trying to explain to them what just happened. And I don't think they quite really understood now like but okay, sounds great, like well done. You know, they don't really fully understand that. I'm like, No, this is pivotal, because it's not the 500 pounds profit. This is symbolic of the fact that I'm now never looking back. Because I've proven the concept. And I can't describe that feeling. It's an amazing feeling. Because once you realize that, what have I been doing? Like the last seven years, what what have I been doing, I've been trading my time for money. And I could have earned twice what I earned in a day, just by thinking ahead and front loading the work and putting the effort in and building a system. Yeah, it's not easy, but it's very simple and straightforward, you still need to put in the work. But that feeling is one that now our dropship unlocked members are experiencing every single day. And I love it when they post about it, or they tell us about it on the two weekly q&a coaching calls that we have as well. It's
James Eardley:
that great feeling of saying like, I'd love to celebrate with you, because I just made my first sale. It's great to hear that we're hearing it as you say, every day when people make these first sales, there's definitely a penny drop moment when you realize you've made your first 500 pounds in a single day. And your story is amazing, because you've made that while you were off work, ill in bed and you weren't able to do any work. So you really had to put the business model to the test of can this make money without me when you were in no condition to actually help and work on the business at the time. So fantastic story, mine was a similar story where I was actually at work at the time. And I made my first sale through my high ticket dropshipping business, and it was over 1000 pounds for my first say, I think it's about 1200 pounds. But I wasn't with my phone at the time was I didn't get the Shopify touching noise at the time, unfortunately. But I got back to my phone after I got back to my car where I left it and realized that while I was doing work, or whenever I was doing, it didn't matter what I was doing at the time, I could make money from this business model that I put a lot of work into set up. But as soon as I put that work in and got this business model set up, money was gonna come in no matter what I was doing, and I was hooked similar to you, I think we get hooked on that feeling and knowing that you can make money and ever since then, I've scaled from that position. And it's a fantastic opportunity today. So I want to talk about a little bit why we think high ticket drop shipping, and ecommerce is such a big opportunity. What are the current and the future trends that you see that make it such a brilliant opportunity right
Lewis Smith:
now, with more consumers shopping online every single day as that confidence in you I remember back in the day when the internet first was was a thing, people were petrified of putting their credit card details, you wouldn't dream of putting your card details in online. Now, I probably buy five or six things on Amazon every day, you know, in our household. So I think it's just we've become so used to add that if you can become not just a consumer of E commerce, but actually a business owner who benefits from it by running an E commerce business, you're onto a winner, right? Because you're riding that trend that wave as the industry shifts over to e commerce and high ticket items are also becoming the norm. It's like the evolution of the retail sector. But it's happening in the digital world. You know, think of things like luxury home furniture or office furniture like we talked about or home gym equipment or the barbecues, we talked about all of these things, that people are just now more comfortable buying online and partying with money without seeing the product two ways. But remember, that's just consumers the items I've talked about there. It's just consumers. Imagine if you're selling to the world of business customers as well, they often won't just buy a single product they might be buy 50 of the same product, you know, so you can just as easily sell to businesses as well and run this as a b2b type model. You see plenty of our members in dropship. I'd like to do that and you might make fewer sales overall, but when you do there'll be much much bigger sales usually And so they might buy 50 or 100 items of a single units of a single item. Also, the digital marketing channels that enable us to run traffic and get customers and footfall to our businesses now are just becoming more and more automated and effective, as well. So back in the day, we used to have to do so much fiddly technical work to get it to work. But now, you really don't need to have any marketing experience at all to drive consistent sales for your business. When we first started, I remember having to create these, like upside down Google Shopping funnels and have complex lists of negative keywords that would funnel customers who were searching for certain products into one campaign, and then and then have a like a priority stack system and mean, we did it. And that's the way that I taught it for the first couple of years. But now, it's incredible the results that you can get from just leaning into the machine learning and the AI and the algorithm on these ad platforms is incredible. And so if you can harness that for your marketing, why would you not do it. And for more on exactly how to do that, you can check out episode 23 of the dropship unlock podcast, which is titled mastering Google ads for your eCommerce store. So maybe line up episode 23. After you've listened to this one,
James Eardley:
we're hugely recommended because Google ads is the primary way that will make sales especially when you first get started to bring revenue into your business. But I think that the automated marketing that is becoming more and more prevalent now with Google and making sure that they have a lot of the control and do a lot of the machine learning to get you the best results should put a smile on the face of anyone thinking about getting into E commerce and building a drop shipping business. Because it means that we don't need to have a degree in marketing anymore to be able to run campaigns and drive sales for our business. We just need to know the exact steps to set up these types of campaigns. And now we see that those campaigns perform better than the ones that we used to have to set up manually. And so it's a great opportunity. And I think that's a big point as to why this year specifically, for anyone that's a beginner with business or E commerce or drop shipping. I think that's a real reason to get started now, due to the types of marketing campaigns that we set up this year, last year, and I'm sure to the future. We're hearing a lot about the rise of AI. So that's all talking about chat GBT and all the different ways that AI can now help our business to scale. How do you think this will impact the dropshipping landscape? Yeah,
Lewis Smith:
there are some incredible AI tools that are being released and updated constantly. It's like every single week, there seems to be a new, industry shattering update coming out of the world of AI. So it's a tough one to even keep up with that some AI tools can significantly streamline the setup and operation of a drop shipping business. So again, it's something we can harness and not fear as entrepreneurs, but just embrace, whether that's for analytics, or marketing of our businesses. We talked about Google ads, and Facebook ads, whether that's customer service, as well as just having an automated human like chatbot that has all of the catalog, product knowledge of every single SKU product on your website, and never sleeps and works every day of the year, and can talk to 10,000 customers all at one time. That's pretty incredible, right? And if we can set that up, which we can now with AI tools, and it just allows us to set things up quickly, more efficiently. But it also just improves daily operations and means that we can spend time at our time as business owners working on the things that grow the business. So we're not there as entrepreneurs working in the business anymore, tinkering around and dealing with customer support tickets, and things like that, that can all now be done pretty much by AI with very little human involvement. And so yeah, it's incredible. And in this model, AI can be used in so many different ways helping us come up with different content ideas, you know, if we're thinking about we want to improve our product descriptions, perhaps we can use AI to help us reformat or rewrite those product descriptions or come up with blog post ideas, you got to be careful, you don't just want to be pumping out AI generated content into the ecosystem, because they probably will be able to detect that. And I'm sure that there'll be some level of penalty for that in the future. But you can certainly harness it and use it for inspiration and structure and guidance and then just add your spin to it. The way I think about AI is quite interesting. I was at the gym this morning. And they've got this thing in there called the E gym that if you're familiar with it where like it takes your measurements and it tells you it takes your height and weight and age and everything. And then you sit on the machine and there's no like settings, it all just auto adapts to you. It's got like a camera, and then the timer starts and it knows who you are. It knows your max strength, your training weight, and then you just follow the reps. And then you move on to the next one. And then you do a full body workout circuit. And it's like this computer robot personal trainer that adjusts your maximum weight and a bent like that your training weight and eventually kind of pushes you to optimize your body over time. And so it kind of acts as like the guardrails, you know it gamifies The Pro because it makes it fun, it means I don't have to think as much about the settings and the weight. And I can just focus on the main thing, which is doing the weights, right. And so that's the way I think about AI. When it comes to this type of business, it's there to optimize and improve our businesses like it is our Health and Ageing. But it's us that have to do the work, you know, we've still got to use it, we've got to put in the work to make it act like the the output will be dictated by the input. So whilst it is a great tool, and it's there, we can't just kind of rely on it and say, oh, yeah, we use AI to just make the whole business as I've not seen that successfully work at this stage, but they can certainly be used to, you know, improve things like the customer journey in drop shipping. So we've got aI driven chatbots that are providing instant customer support, as I mentioned, or personalized product recommendations even, and even like optimizing the website experience on a user by user basis. So yeah, I mean, it can make a real seamless and satisfying shopping experience for customers. And I think we're really just seeing that the beginning of it.
James Eardley:
Yeah, we're fortunate to be in the business at this time. While artificial intelligence is growing as it is, it's only going to get lower cost, the tools are only going to get better and more intuitive for us to use. So if we can capitalize on getting into this trend, now, we can help businesses that run with even less maintenance, and generate more profit in the future is how I see things going. We're talking about more profit, I want to dive into the financial side of high ticket dropshipping. So why do you think it's such a big opportunity in terms of making money?
Lewis Smith:
Yeah, well, selling high ticket items just means larger profits per order. So it's like choosing, we talked earlier about the sunglasses, if you're going to be selling sunglasses for, say 15 pounds on your Shopify site, maybe you make 10 pounds profit, if you do really well, like if you've managed to get a great margin. Imagine that versus selling 1000 pound standup desk, and making 300 pounds profit 15 pounds profit versus 300 pounds profit, you need to sell a lot more sunglasses to make up the same amount. But it's also the admin that goes with this also all of the refund requests and the returns and all of the issues like you can't return the products to China. So you have to take them back when if they're faulty. Like with one desk, if there's a problem with it, you just send it back to the supplier. And they just change it because it was faulty. As a lifestyle business. Remember the criteria I talked about at the beginning that that was one of the things I wanted low admin, but also high scalability and high profit potential, it seems obvious, but if you're going out there fishing for customers, as marketers, as entrepreneurs, with fishing for customers, then choose your bait wisely when you're fishing. If you want to catch bigger fish, then you need the right bait to catch that right. So higher prices for more premium products mean that you'll result in a lot more profit. But often this is the bit people don't sometimes talk about, it's actually a much easier buying experience as well, because the types of customers that are willing to spend money on those types of luxurious items, or certainly like higher end items just are less problematic. They don't cause this as much customer service admin, they don't have requests for refunds and complaints and things like that. It's just usually a fairly seamless process. And obviously, you can provide like a VIP level of experience as well for them. Because as we said before, if you only have one sale every four days, well, even if I don't have a virtual assistant yet, I can just answer the phone myself and just give them a call and be like, hey, just check in. Did you receive your standup desk? Okay, perfect. All right, well, I'm the company owner. So I'll give you a call. You can't do that if you're selling 10,000 Sunglasses a month, right. So it just makes it much easier. And eventually you can have your virtual assistant do that and really put a personal touch on the business without you having to do that work. The other thing is the return on investment can be huge. So you asked about the financial upsides of this. Once you're up and running after the minimal outlay that it takes to get started. Remember, you keep all that profit because it's your business. So rather than having really high overhead costs, or having you know, to go and lease a warehouse space, or hire lots of staff, when you first get started or lease cars or vehicles or offices or you know, big machinery, you don't really have any of that stuff you have maybe some ad costs a couple of 100 pounds, maybe in ads and like some software bits and pieces here and there. But it's very low, low overhead. And so I think it's just that cost effectiveness. It's that, you know, unlike traditional retail and that traditional commerce, drop shipping just requires less capital, because you're not stocking items, you don't have to go and buy 100 items upfront. Instead, we're just connecting buyers with products, so we don't have to take on any debt. And so that really takes the pressure off us when we're building a business. But the important thing is we are actually still building a business. We're building a brand and an asset. We're not just kind of a faceless middleman. By doing this. We're
James Eardley:
building a customer list building an email list getting repeat buyers and we're just you know slike John Lewis, they stock Samsung TVs, LG TVs, Panasonic TVs, but they themselves are still a brand, John Lewis, right, just because they don't, they are not the brand name on the TV, they're using those brands, they're leveraging those brands to get footfall into their store. And then they are the brand themselves, right. So that's, that's all we're doing. But just in a digital format. And with all the benefits that the digital format gives us, as well, without having to be going to a store, we don't have to buy stock, we don't have to look after staff, we don't have to look after customers in person, either. It's a completely different kettle of fish than as you're going through all of the benefits there. It's so exciting. I mean, even to me now, to hear those benefits of the business model that we operate, every time I hear it, it makes so much sense as to why we are in this particular business model, the numbers, I believe, are very much on our side. Now, of course, it's hard work to get up and running, as it with any business is no different with this type of business. And we can both attest to that we had to put work in to get to the stage we're at. But once you go into a model that you know has the potential to have such high success, you know that your hard work is going to be paid off, once you get set up and use the specific type of dropshipping that we recommend, and not the the AliExpress model that I've used in the past. So hopefully is excited for everyone listening in as well. Because I remember when I was first looking for the best opportunity for me to start a business, once I dedicated myself to starting a business and achieving my financial goals. I remember hearing about all these opportunities, and the light bulb really went off for me and I had that level of excitement that I am getting again now and I'm hearing again. So hopefully, this is available to understand the benefits as well and get excited about them from today's episode. But to wrap up this sort of section, and to explain about what steps people can take, instead of just consuming people want to take action and get started with a business. How would you suggest that people start after they finish listening to this episode?
Lewis Smith:
Well, understanding your market and really choosing your niche wisely. And to do that, I just advise following some kind of blueprint, because it's like, if you're setting the foundations for a house, you don't just dig and hope, right? You need to plan it correctly. It needs to be a well thought out plan, they need to be strong, they need to be planned. And you don't just dig hope for the best. And I mean, if we do that, we'll be very busy. Because we'll just be digging and Think hard. This is hard work, isn't it, I'm digging away. And that's the thing, don't confuse busyness with results and succeeding because you can be very busy going in the wrong direction. And what that means is it just leaves us stuck. And it wastes a lot of our time and a lot of our money and then when we fail with it. It leaves us demotivated and demoralized and we think why did I fail? And actually it was because we never had the blueprint to start with. So I think shortcut a lot of that success. If you're going to invest in your new business and you thought I'm going to be an entrepreneur, and to invest in my business. What I always do first is invest in knowledge. If I can shortcut the route to success that somebody else has learned or the lessons from already, I'm going that route because I know that it'll cost me way less money in the long run if I can, if I can buy those lessons from someone else. Education is just critical to this. You've got to equip yourself with the right skills, the right knowledge, we're always learning everyday, both James and I constantly trying to absorb as much knowledge as we can. And so you just shortcut your route to success. If I want to do something and I can see someone else has already done it. I'm going to them and I'm asking them, can I pay you for your time to figure it out, it's just much cheaper and much faster route to success overall. And for anyone who is looking to dive a little bit deeper into this, you can grab a copy of my book at HTA book.com is your first step towards mastering high ticket dropshipping using my home turf advantage model. Just a quick heads up if you'd like to share your questions, stories, successes or challenges, you can email us directly at podcast at dropship unlocked.com. And you never know we might even feature you on the next podcast episode.
James Eardley:
Also, if you want access to today's show notes or any of the resources we've mentioned in the episode today, then head over to dropship unlocked.com forward slash podcast we also have a small favor to ask of you. If you enjoyed the show so far, you could take a minute to leave us a rating and review on your podcast platform of choice.
Lewis Smith:
You won't believe how much your reviews help us grow the podcast. We'll even read out some of our favorites on the next episode. So if you want to be featured on the show, please do go ahead and leave us a review today. Thanks so much for your support. We really couldn't do it without you. And we absolutely love hearing what you think of the podcast.
James Eardley:
Now let's answer a question that we've had in from a listener. So thank you Dickey, for getting your question in. The way he got his question in was by emailing us is podcast at dropship unlocked.com. If you've got a question that you want answered on the podcast, then email us and let us know how we can help. And I'm going to pose this question to you now Louis so Dickies asked, I'm quite far down the line building a drop shipping business already. However, the products that I'm selling are priced between 30 and 200 pounds. Can a lower ticket business still work.
Lewis Smith:
Thanks for your question Dickie. So, yeah, I mean, it can, while a lower ticket business is definitely still feasible. The thing is it inherently involves more admin tasks as we talked about in this episode. So I'd need to process a much higher volume of orders if I was selling sunglasses, versus if I was selling standup desks to make the same target profit amounts, that means a lot more customers to deal with a lot more probably ad spend to acquire all of those customers, lots of moving parts lots of returns to think about. And so just in order to achieve that same level of income, it just means a much higher level of admin, which also increases my workload, and the complexity of operations in my business, and probably my cost as well, because I need more team members, more staff, more software, etc. So if I was looking to streamline my business, and reduce the sheer number of transactions, pivoting over to high ticket model, using the home turf advantage model is the way I would go. So high ticket dropshipping generally requires a lot fewer sales to meet my target income, which then offers me a much more efficient way to operate my business. So yeah, though, lower ticket items can work they do offers some advantages, like potentially, you've got a wider customer base to choose from, they don't always offer the same level of advantages as high ticket items. Because in terms of that, income, efficiency and order management and the complexity, there are quite a few downsides to it. So just weighing up the benefits, and maybe pivoting to high ticket items could streamline the business and enhance your profitability in the long term as well. So hopefully, that's okay. It's a bit of a snapshot answer, Dickie. But if you want to go deeper into this, then I've laid it all out in my book, I go much, much deeper into the whys and the watts of this business model. So kind of why it works and what you need to do to make it work. But also we dive into how to make it work as well in my book. So if that's helpful, then pick up a copy of the home turf advantage today, you'll find the link to that in the show notes below this episode.
James Eardley:
Thank you, Louis again. So now let's highlight a listener review that we've had for the podcast as well. I love seeing these come through. And thank you to Sam is after review. So read it out for the podcast now. So Sam said, hi guys just wanted to say a massive thank you for all the information you put out. It's invaluable. I've backlogged and listen to all of the podcasts, absorbing all of the information while I get the funds together to take that next step. I've also purchased Lewis's book, and I'm looking forward to getting stuck into that, too. So thanks again for everything you both do. Amazing. Thank you so much, Samuel, for your review. Really appreciate that.
Lewis Smith:
Yeah. Thanks very much, Sam, we really appreciate you leaving us that review. That's really nice to see. So yeah, we're glad to hear that you've been enjoying the podcast and you've been binge listening or binge watching it. And hopefully, well, it's certainly inspired you to take action and pick up a copy of the book and we can't wait to welcome you into our program whenever you're ready. If you want to help spread the word of the podcast, it's really easy to do so. Just leave us a review on your preferred podcast platform just like Sam did. Or if you're into YouTube, why not leave us a comment under this video. Your thoughts could then be highlighted in an upcoming episode, just like we did today. And before we wrap up, think about letting a friend in on today's episode, share the insights about the biggest money making opportunity of this year with someone you know, it could be the start of an exciting entrepreneurial journey for them too. And what better way to explore the potential of E commerce than with a friend by your site to share this episode now, and it might just spark a life changing conversation.
James Eardley:
Thanks for joining us on this episode of the dropship unlocked podcast. We hope you found the discussion both inspiring and entertaining. If you're
Lewis Smith:
ready to begin your own high ticket dropshipping journey then here's what to do next. I've taken all of the years of my own experience both of running my E commerce businesses and teaching hundreds of others how to do the same and I've condensed it all into my book, the home turf advantage. It's your comprehensive guide designed to help you create your own ecommerce business and you can grab your copy today at H T A
James Eardley:
book.com. Stay connected by subscribing to the podcast. This way you'll never miss an episode packed with valuable insights. And if you enjoyed what you heard today, please leave us a review. Your feedback motivates us and we love sharing our favorite reviews on future episodes. And thank you for deciding
Lewis Smith:
to spend your time with us today. We really appreciate you and we look forward to sharing more high ticket dropshipping insights with you on our next episode of the dropship unlocked podcast.