So you want to start a dropshipping store, but how much money do you actually need to start?
In short - not a lot.
With around $500 dollars you can build and launch a Shopify dropshipping store. That includes the cost of Shopify, a custom domain, a logo, reviews app, and a makreting budget.
Here's a more in-depth break down of the budget.
The Shopify basic plan does everything you need to manage a new store. You can connect your custom domain, connect sales channels like Facebook and Google Ads, add as many products as you like and more. As an added bonus you can even start with a 14 day free trial. Don't worry about buying a theme. Just pick one of the free options for now.
Using a custom domain helps make your store more legitimate and establish a brand. While finding the right domain for your dropshipping store can be hard since so many .com domains have already been snatched up, don't overthink it. Find something short and memorable.
Getting a decent logo is cheap and easy thanks to Fiverr. Just review the different gigs for logo design find one that you like. Remeber to get a PNG version or something with a transparent background. If you have extra budget consider getting the source file included so that you can tweak the design in the future.
Reviews are proven to greatly increase conversions so using a an app to display reviews is important. We recommend Loox. It's cheap works well and you can easily import reviews from 3rd parties like Aliexpress.
Your store is setup and ready to start taking orders, now for the fun part (and the most expensive) marketing. We aren't going to deep dive into marketing strategy in this post, but it safe to assume that you will need to spend around $300 to test a store. Choose a channel and come up with some creative, video ads if possible, and start getting traffic to the site.
The average cost per click for Facebook ads is $1.86. So if you allocated your entire $300 budget to Facebook you would get around 160 visitors to your store. Ideally you will have a few sales and will be able to calculate your return on ad spend. If your the negative, don't freak out.
Review your store, especially your product page, to see how you can improve the on page experience. Optimize your ads based on any patterns in your customers or ad creative.