Dropshipping Website 4 Sale - High Profit (The Truth !)

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Nottingham United Kingdom
Bigian13
Kudos: 3,095
Joined: Feb 21, 2014
Dropshipping Website 4 Sale - High Profit (The Truth !)
22 Mar 2017
Maybe it is the time of year, or maybe scammers are preying more on the unfortunates that think dropshipping is the easy way to make a fortune, but so far this month I have had more than the usual number of emails from people that have purchased a 'ready made', 'guaranteed income' dropshipping website, usually Shopify based, and have had severe problems.

Some are blatantly obvious such as those that state that this is a new website and has no sales (but offers potential up to $xxxx.xx per month), but people still buy them.

Others offer 'handmade goods' that are made by the original website owner and are then supplied to the new owner at a price higher than the old retail price.

Alternatively manufacturers / suppliers will not supply the new website owners due to 'contractual problems'. (Usually the original owner did not pay an invoice or two.)

There are several companies that create really nice looking websites showcasing products from companies that they do not deal with and sell these websites as 'an easy way to profit from dropshipping'. It is then down to you to source suppliers.

If you are looking to get into dropshipping then I would advise you to create your own site, contact your own suppliers, put in the initial hard work and enjoy the rewards later. After all, if profit is as big as some make out for such minimal work, why would you sell ?
E-commerce , love it or hate it, that's why we are here
United Kingdom United Kingdom
Kadar Khan
Kudos: 99
Joined: Feb 9, 2017
Re: Dropshipping Website 4 Sale - High Profit (The Truth !)
31 Mar 2017
@Bigian13

I personally dislike the turnkey type of website. The real skill behind a successful online business is not creating or buying a website. It is marketing skill that matters.

You can easily design or get someone hired to make you a website. But SEO, driving traffic, making relationship, content creation, outreaching like minded people etc. etc. are things that you need to master yourself for a real success.
Nottingham United Kingdom
Bigian13
Kudos: 3,095
Joined: Feb 21, 2014
Re: Dropshipping Website 4 Sale - High Profit (The Truth !)
10 Apr 2017
@Kadar Khan

I totally agree with you. Creating a website is the easy bit. Making a website work is the hard bit.

Unfortunately more and more people are buying websites that have 'potential' based on the website sellers forecasts, not on actual sales.

If only people realised that buying a ready made website is not a guaranteed success then life would be so much easier (at least for me!!).
E-commerce , love it or hate it, that's why we are here
United States United States
VictoriaDuff
Kudos: 58
Joined: Apr 11, 2017
Re: Dropshipping Website 4 Sale - High Profit (The Truth !)
20 Apr 2017
The key to buying a web-based business is to look for one that is already successful. If the owner won't work with you for a period of time to introduce you to suppliers and show you how to manage the business, don't buy it.

There are website brokers who sell businesses that don't make money or are only a few months old. These are worthless. You get what you pay for.

It is quite possible to buy web businesses that turn out to be wonderful investments, but you have to work with a broker who does preliminary due diligence on the businesses they accept, and only handle profitable and established businesses.

I am a mergers & acquisitions broker for Latona's. We decline to work with approximately 75% of the people who contact us wanting to sell web businesses. We have strict standards. We work with a very large number of professional portfolio managers who buy web businesses, so we are careful.

We mostly carry Amazon businesses that are referred to us by a highly-regarded source. Occasionally there is a problem, but in the years I have worked for the firm I have only seen one and it was due to a buyer who did not take the work seriously.

Please contact me if you have questions.
Victoria Duff
victoria@latonas.com
Victoria Duff
Mergers & Acquisitions of Web-Based Businesses
victoria@latonas.com
Blog: www.WebPropertyInvestor.com
www.WebPropertyInvestor.com
Nottingham United Kingdom
Bigian13
Kudos: 3,095
Joined: Feb 21, 2014
Re: Dropshipping Website 4 Sale - High Profit (The Truth !)
27 Apr 2017
@VictoriaDuff

The problem is that a lot of people that are looking to buy websites / online businesses often have the money but not the experience to check out what they are getting, (They may be old folk like me, but I do not have the money !!!), and are looking for an easy easy way to supplement their income. Brokers are virtually non existent in the UK (could be an opening for you) and therefore take sellers at their word.

Too many times I have encountered people that have had doctored sales reports / paypal statements / bank statements showing over inflated sales figures given to them to prove a businesses worth. Lets be honest, anybody can adjust a bank statement to show inflated sales ! Often the only time they know the true worth is when they first log in to their new acquisition.
E-commerce , love it or hate it, that's why we are here
United States United States
VictoriaDuff
Kudos: 58
Joined: Apr 11, 2017
Re: Dropshipping Website 4 Sale - High Profit (The Truth !)
27 Apr 2017
@Bigian13
It's always the same, Bigian. There is a pervasive disregard for expertise. We can't be catchers in the rye even though we may try. Some people will fight to go over the cliff to disaster. At least with the e-commerce platforms like Amazon, there are analytics to look at. -- if a seller won't give direct access to analytics there is something wrong! Run away!

We occasionally handle a "starter" e-commerce store that we feel has been established with care, has a good product that sells well, but is being sold because the owner has no time to maintain it. Those kinds of deals are easy to recognize and they sell fast. That's one of the reasons to work with a broker.

I am surprised to hear there are no brokers in the UK. We do business all over the globe. Tell your friends to email me! [grin]
Victoria Duff
Mergers & Acquisitions of Web-Based Businesses
victoria@latonas.com
Blog: www.WebPropertyInvestor.com
www.WebPropertyInvestor.com

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