I just wanted to talk a bit about setting the profit margin for selling products online with dropshipping sites. Every product goes through 5 stages when first coming out:
- Intro
- Growth
- Maturity
- Saturation
- Decline
You need to make sure you understand where your product is at the time you are going to be selling it online, because you want to make sure you are getting the full potential out of the product price as possible. Most ecommerce sites mark up 40-60 percent, but depending on what stage your products are at you could get much higher profit margin, or the other side - lower!
We have put together a great tutorial video that walks you through the process of setting the profit margin for selling products online. Make sure you check it out!