294: How to Start an Online Store with No Ideas and No Inventory (and still sell $300k in your first year)

The Side Hustle Show

Nick Loper

How To, Entrepreneurship, Business, Education

4.7 • 1.6K Ratings

🗓️ 2 August 2018

⏱️ 34 minutes

🔗️ Recording | iTunes | RSS

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Summary

Rene Delgado started an online drop shipping store with no ideas and no inventory and went from $0-300k in his first year in business. It was the search for an extra stream of income that led Rene Delgado to consider e-commerce; selling physical products online. “Drop shipping” is a form of e-commerce where your suppliers ship products directly to customers on your behalf. Your role is to drive traffic to your storefront, forward the purchase order details to your supplier when a visitor makes a purchase, collecting the retail price and buying the goods at wholesale. Rene went through a very specific product research process and ended up starting BounceHouseStore.com, where he sells bounce houses and other products related to bounce houses. He’s already started scaling his business on the success of his bounce house store. Rene has now outsourced the day-to-day operations of this store and started a new drop shipping store that has already turned over double what his bounce house did in its first year. There’s no luck here. “It’s hard work,” Rene said. That and some careful planning and execution. Tune in to hear why Rene was attracted to drop shipping, the criteria he used to find the bounce house niche, and how he generated $300k of sales in his first year in business. Full Show Notes and PDF Highlight Reel: How to Start an Online Store with No Ideas and No Inventory (and still sell $300k in your first year)

Transcript

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0:00.0	Side Hustle Show 294, how to start an online store with no ideas and no inventory,
0:06.0	and still sell 300 grand worth of stuff in your first year.
0:10.0	It's a drop-shipping side hustle case study.
0:14.0	What's up, what's up, Nick, Loper here.
0:16.0	Welcome to the Side Hustle show because multiple streams of income is the new black.
0:20.0	It was that search for an extra income stream that led Renee Delgado to consider e-commerce selling physical products online.
0:27.0	He was especially attracted to the idea of drop shipping where your suppliers ship products directly to customers on your behalf.
0:34.4	You have no inventory risk, you don't have to worry about storage, you don't have to stand in line at the
0:38.0	post office.
0:39.0	And in this episode, you're going to hear how Renee went from having this interest in drop shipping to selling
0:44.5	$300,000 worth of bounce houses in 2017 that was his first full year in business
0:50.0	all on the side from his day job so how do you arrive at bouncehouses in creating bouncehouse store.com?
0:55.9	Well he went through a very specific product research process
0:59.4	he shares in this episode.
1:00.8	So stay tuned to hear all about that, along with how Renee
1:04.2	set up his supplier relationships, how he built his storefront, and how he made us
1:07.8	for sales, and how the business runs today. Notes and links for this episode,
1:12.0	plus a free downloadable PDF highlight reel summary with all of Renee's top tips
1:16.2	from the call are at side hustle nation.com slash Renee.
1:22.1	As you're about to hear, Renee wasn't afraid to take action
1:24.8	and he made a couple important investments
1:26.8	in his side hustle education.
	...

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