Maximising Dropshipping Profits, Not Just Revenue (Dropship Unlocked Podcast Episode 28)

Get your copy of Lewis’ new book - The Home-Turf Advantage ➡️ http://htabook.com?el=youtubeShow more

🗣 In this episode of the Dropship Unlocked Podcast, hosts Lewis Smith and James Eardley delve into the world of dropshipping profitability. They discuss how running a business is not just about revenue but more importantly about maximising profits.

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Topics Discussed:

★ Profit Margins Defined: Lewis and James clarify the difference between gross and net profit margins, highlighting their significance for dropshipping businesses. Gross margins represent the revenue after deducting the cost of goods sold, while net margins factor in operational costs like marketing.
★ Factors Influencing Margins: The hosts explore various factors that influence profit margins in dropshipping. They discuss the choice between pure dropshipping and holding stock, order quantity's impact on supplier negotiations, and strategies for increasing profitability.
★ Optimising Google Ads for Profit: The hosts explain how to optimise Google Ads campaigns for profit rather than just traffic. They discuss bid strategies, such as 'Maximise Conversion Value' with a target return on ad spend, to ensure profitable campaigns.
★ Resource Mentioned: Lewis mentions his book, 'The Home-Turf Advantage,' as a comprehensive resource for building a profit-focused dropshipping business, available at htabook.com.

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Links and Resources Mentioned:

For Aspiring Business Owners or Side Hustle Seekers Based In the UK…

New Book Reveals How To Launch A Low-Maintenance High-Profit E-Commerce Business Using The UK "Home-Turf Advantage”…

While also enjoying more time with your family, being free to travel, and setting the hours you work.

Click here to get your copy - http://htabook.com?el=youtube

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Key Takeaways:

★ Profit margins, both gross and net, are crucial for understanding a dropshipping business's financial health.
★ Factors such as supplier negotiations, order quantity, and profit margins play a significant role in dropshipping profitability.
★ Profit is a key determinant of a dropshipping business's valuation when it comes time to sell.
★ Effective negotiation strategies can help improve profit margins with suppliers.
★ Focusing on profit, not just revenue, is essential for long-term dropshipping success.
★ Optimising Google Ads for profit involves bid strategies like 'Maximise Conversion Value' with a target return on ad spend.
★ Scaling a business can lead to greater profits, even if net margin percentages decrease.
★ Building a high-profit business is the key to achieving financial freedom and control over one's life.

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Check Out These Videos:

Is Dropshipping Too Competitive To Get Started?
https://youtu.be/YxiCpMlXRHc

How to handle product returns with high-ticket dropshipping?
https://youtu.be/p9DQyizUVps

Dropshipping High Ticket vs Low Ticket Product - Which is Better? https://youtu.be/u_G4x7WtoHU

How To Dropship Products Over £1000 Per Item? https://youtu.be/wDDYKSFaboI
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...Even If You Don't Yet Know Which Products To Sell

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