Facebook Marketplace Drop Shipping is the hottest new development to hit the drop shipping community since eBay and Amazon. In this episode, I explain how to get started drop shipping on FBMP.
It's clear that with billions of users, Facebook is poised to take their share of eCommerce, having already displaced Craig's List for local junk swapping. This is exactly how eBay got started, but with their established user base, Facebook may be in perfect position to dethrone eBay.
For those who aren't familiar with drop shipping, the fundamentals of this business model are: you get a relationship with a supplier, you advertise their product, you sell the product, and when you make a sale, you ask that supplier to ship the product directly to the customer and you keep the difference.
It doesn't involve having a warehouse somewhere or a spare bedroom full of stuff. It's completely electronic and because of that and the nature of its simplicity, it's easy to outsource, making it really attractive.
A lot of people on marketplaces like Amazon and eBay are, in fact, drop shippers. You just don't know that that's happening but you're getting stuff drop shipped to your house every day.
So the question is: Is this a viable business model? Some challenges with drop shipping traditionally include a platform to list and sell your products and a source of traffic. For someone new to internet marketing, these can be pretty daunting and expensive first steps.
What if you want to start drop shipping but you don't want to spend money to get started? The answer at this moment is Facebook Marketplace. Facebook MarketPlace has now introduced the shipping option so you can now list your product and indicate that you are willing to ship it to whoever buys it.
Facebook already has billions of people looking through Marketplace and they've already provided a cart for you to sell your items. All you need to do is find items to sell and people are currently seeing success in what called arbitrage. This is basically identifying a product that you think will sell, advertise it on Facebook Marketplace, and when someone purchases it, you buy the product online, ship it directly to your customer and pocket the price difference.
What are the best suppliers online? What items are most likely to sell in the Facebook marketplace? How should you price the items? What's the right amount of markup? What are the rules of the Facebook marketplace? How do you track items and know when items go out of stock? You may have questions as there are a lot of layers to this so if you're interested, there's a very affordable course that I have gone through that you can check out here: http://latenightim.com/tom.
They also have an active Facebook group that can help you out.
If you couldn't really get a grip on what direction you want to go in, I've created a free video resource for you here: http://latenightim.com/explain.
In several short videos, I explain to you what internet marketing and what online business is all about and the different options that you have for starting an online business.
Links Mentioned In This Episode
- Groove Funnels
- Tom and Jason's Facebook Drop Shipping Course
- The Basics Of Online Business – Free Video Mini-Course
- Subscribe in iTunes, Google Play, Stitcher or Spotify
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