When to Quit Dropshipping?

We’ve talked about shutting down a store, so quitting a store.

But, when should you quit dropshipping altogether?

There are two scenarios, the positive scenario, and the negative one.

Let’s start with the negative.

So, I always tell you that don’t start dropshipping if you haven’ t got $500, absolute minimum $500 to preferably a $1000 to spend on ads.

The negative scenario is you have to quit dropshipping because you’ve spent all your budget you can’t afford to continue.

This is honestly part of the worse things that can happen because you’ve just thrown money out of the window, you may have learned a little bit but you can’t actually apply what you have learned to become profitable and to make money.

So, money thrown out the window burned. you can’t do anything about it.

The more positive end of this spectrum, you may really have built a brand and connected with an audience, built a customer list and now you want to move beyond just dropshipping.

Perhaps you want to create your own products or at least import products, store them in a warehouse and ship them out.

That is a good idea if you can eventually transition your dropshipping store to a store that sells your own products, white label products, importer products, whatever then that is great. By all means, go for that.

Again, if you’re at this stage, if your store is so successful, then you shouldn’t be taking advice from generic courses.

Perhaps you’ll want to hire a consultant.

But, you shouldn’t be looking for a cookie-cutter advice at that point anymore. If you’re at this stage, you know far more about your specific business than I ever will.

The other possibility of where you should quit dropshipping is when you’re making far more money in a different business.

So again, think about the return on your time invested, return on your money invested.

If you’re making $200 a month in dropshipping, perhaps a 20% return on your ad spend and your investment every month, then, it isn’t worth doing if a different bullet business model is making you far more.

So if your personal brand or your music business, or your Amazon business is making 5x what your dropshipping business is making you for the same time invested, for the same money invested, then perhaps it’s time to move over to just doing your most profitable business.

Again, not necessarily the case because it’s good to have multiple sources of income but at that point, I would emphasize that you can consider it and may be a good idea for you.