The Average Age of Dropshippers
You can search Quora for “when did you first dropshipping” and/or “young dropshippers”. There are many questions such as: “I’m 19 years old and would like to start my dropshipping business. What steps can I take?” “, “How does a 14-year old start a dropshipping company and make a quick profit? “, “How can a minor start a dropshipping business that is profitable?” Or “What’s the best age to begin dropshipping?” “…
All these dropshipping-related questions & answers can be easily interpreted to mean that dropshippers are becoming more young and entering the e-commerce marketplace.
A number of success stories have driven dropshippers to become wealthy. Some of these dropshippers have achieved six-figure revenue. Payoneer’s Global Seller Index 2018 shows that global ecommerce sales reached almost 2.36 trillion pounds in 2018. The number of dropshippers continues to rise. There are so many options on the market. Which age group is most successful?
The report examined the sales, age, and location of 100,000 dropshippers on the international market. It found the following trends:
Dropshippers are a growing number of young people who want to enter the e-commerce marketplace
The report shows that the sales volume increased by 26% in the second quarter of 2018, as more young sellers entered the market. In addition, the number of Generation Z sellers (age 18-24) increased 101% between the first and first quarters of 2018. Besides, the sellers’ number of Millennials (age from 25 to 35) was the second-fastest-growing, which is 35 percent.
Despite having the largest sales volume, the Millennials still trail the Gen-X.
In the previous quarters, half the sales in the first quarter 2019 came from Millennials (age between 25 and 34), accounting for 46% of total sales. Generation X sales (ages 35-44) are hotly pursued, followed by Gen Z (age 18-24), age 45 to 54, and then Gen Z (age more than 55). Gen X actually has more sales than Millennials, even though the number of sellers in that age group is only 27% and the volume of their sales accounts for 34%.
While the sellers are getting older, the older ones are doing better.
The number of young sellers is growing, but their sales speed has not increased that much. While the number of Gen Z sellers doubled each year, total sales grew only 66%. The number of sellers older than 55 (27%) grew slower than the younger group. However, sales increased even faster, increasing 54% between the first quarter 2018 and the first quarter 2019. This means that sellers in this age bracket have more experience and expertise with e-commerce.
Although e-commerce is only a small part of total retail sales worldwide at the moment, it is still growing rapidly. This is a good sign because it means that there are many opportunities to launch a successful ecommerce business. Dropshipping allows you to sell physical products online, without the need to purchase inventory upfront and with no delivery fees.
Dropshipping is a business that doesn’t require significant capital. You don’t need to invest in large quantities of inventory. This business model is a great choice for new entrepreneurs and startups. It costs less than $100 to start.
It’s not easy to start an online business. Many people fail because the people selling the courses claim it’s easy. People begin with the expectation of making a quick buck and then they’ll be able to retire in no time. Many people quit once they realized that there is no quick solution and it’s not common for them to get rich quickly.
There is no optimal age. It’s never too late to get started. You won’t be able to start if you wait for the right time. Dropshipping has many benefits. You don’t have to spend a lot of money to get started. Your success is not dependent on how you approach it. You will succeed if you have the right skills and knowledge, follow the updated approach and put in enough effort.
If you have to, fail as soon as you can. Edison claimed that he did not fail 1000 times when he made a lightbulb. It only took 1,000 steps.
Dropshipping is open to anyone over 18 years old. It is recommended that you have the consent of your parents if you are under 18. You will need to use a credit card in order to purchase inventory or subscribe to an online platform. Dropshipping can be a great business idea for young entrepreneurs who are just starting their first business. Dropshipping is low-cost, easy to replicate, and easy for entrepreneurs to pivot.
You will learn valuable business lessons and gain valuable experience that will be invaluable in your future. It takes dedication and hard work to make a business succeed.
Dropshippers are not the most successful. Many failed to succeed in their second or third attempt.
However, as you learn more and gain experience in the field, you will be able to better understand it. Dropshipping is a great business to get started, especially if your are young. Dropshipping is a great way to invest your time and energy. You will be successful sooner than you think!
Dropshipping is a kind of business which doesn’t require any hard and fast rules. If you are at the 16 and thinking about the Dropshipping business you are the right place. First pf all we would like to congratulate you for starting this journey at such a young age. You will acquire a lot of skills throughout your journey. When you are starting business at such young age you get skills of entrepreneurship by the time you become and adult.
If you are 16 or below that age you should read this article further to know how to start your own Dropshipping store. It is possible to start Dropshipping business if you are 14 to 16 years old. There are many Dropshippers out there who are at the same age are doing great in this business.
This age is very much suitable for starting a Dropshipping business as you will have your whole life to work upon it. You will learn so many things like managing your business, growing it, scaling ads etc. through out the process. Your mindset and skills both will develop. Till the time you grow to be an adult your business will turn into a full fledged one. However, you need to start your business with the right mindset. When you are young you don’t have much responsibilities so you have more chances to becomes successful Dropshipper as you will have more time to spend on your business.
Should you leave college to start Dropshipping business?
The answer is No. You don’t have to. You have all the time in this world to work upon your business when you are at the age of 15 or 16. We get a lot of queries by many young people whether they should quit their school to give time to the Dropshipping business. We will give an answer to this query today.
At this age you are not doing something very productive like jobs or internships. All you have to g=do is to go to college and attend classes. Out of 24 hours in a day you spend little time on studies and you don’t have any other productive work to do. You are free for most of the day. You are doing nothing for being productive or creating something for your own. You will realise that you have a lot of free time in your day to work on something. When it comes to Dropshipping business, time is the most effective thing that you can use.
We suggest you not to leave college. You can do anything in this world and still focus on Dropshipping business. Give a little time to it. You have to spend a little time on your business. You have to seclude yourself from thinking that what will people say about your business. At the end of the day it’s your business and all the profit will go to you. Stop wasting time in hanging out with friends and online gaming. When you are starting a Dropshipping business you tend to get a lot of criticism for it because people can not understand what you are doing exactly. Don’t care about giving explanations to people out there. All you have to do is to focusing on your Dropshipping business without any distractions.
Dropshipping as a Teenager: Why is it so great?
Young people should embrace taking chances and following their dreams. You are generally younger and have less obligation and responsibility for your family and mortgages. You also have the freedom to spend more time with your children and other obligations.
You don’t realize the age you are until you’re a teenager. You’re still a baby! Dropshipping is a learning process that requires patience.
You’ll end up doing the same thing as everyone else if you rush and get caught up in your hurry. Dropshipping has become more competitive over the years. To be successful, you must work harder and get better than your competitors.
Do not rush to become rich. Instead, enjoy the journey. Even though it may not seem like it right now, it is much more fun than the final goal. Although it is great to feel accomplished when you reach your goal, the feeling will be short-lived and you will find yourself looking back at the process and envying the results more than the goal.
Dropshipping is a great option for young people because of the low entry barrier and potential earnings. Dropshipping is a viable way to make a decent income while still being a teenager. It costs less than $1,000. Teenagers don’t have the money or experience to start a business that can make a significant impact on their lives.
While $1,000 will pay for a Shopify shop and Facebook ads for multiple products, it is not enough to make a steady income. Although you may be lucky enough to find early success, chances are that you will fail.
You can continue to try until you succeed by having a separate income stream. It may be hard to make ends meet, but it will all pay off in the end.
Do you have work pressure?
We will say No because at this age you don’t have many responsibilities or financial expenses that will lead you to do overwork. You don’t have rents, bills or EMIs to pay. So, basically you don’t have that much stress on you. So, without exhausting yourself you can still work on Drosphipping and have a full-fledged business by the time you become and adult. And by the time you become and adult and start to have responsibilities then you can focus more on your already established business.
Steps that you have to take:
- Set Up:
The first thing that you need to do is to do a set up. A set up includes things like a PayPal account. You can take help of your parents to do that. Before getting their help, you must explain your parents what you are actually doing.
Write down your business plan including your financial goals, revenue numbers, the kind of store you are building, the kind of products you will be selling, all the research work etc. then explain the whole plan to your parents. Once, they understand your plan they will definitely help you out.
You will have to form one company on your name and your parents can help you in that. Your parents can form the company and make you the author signatory of that company. You can take decisions for your company even if your parents own that company. You can transition the ownership of your company on your name when you become an adult. So, in that way you will become an owner of that company. Transition is not very time taking so, you don’t have to worry about it much. All you have to do is to take a start towards the journey of Dropshipping. Follow company formations guidelines available on YouTube.
You can use your parent’s Pan card number for PayPal account as minors don’t have a Pan card. It will be a little bit of effort but it will all be worth it. Nothing in life comes easy. Even for passing your exams you need to study and attend classes. Inculcate the spirit of facing challenges in your life. Don’t be afraid of challenges and don’t stop when you face them. Don’t give up, no matter what.
The next thing that you have to do is to learn. After you set up your whole company including bank account etc. then the next step is learning. There is so much information about Dropshipping business available on the internet which you can access easily. There are so many YouTube tutorials that you can follow for Dropshipping business. Watch all the videos, gather all the information and start working. Within a weak or two you can have a lot of information and learn many things.
- Acquiring skills:
Learning is not enough when it comes to Dropshipping business. You have to acquire skills as well. Skills are what will take you forward. No matter how much you learn, you can not do anything without skills. If you acquire skills at this age, you can become a master of your business by the time you become an adult.
When you are a minor, you are already involved with the learning process. So, you can acquire knowledge and skills at this age easily. Its easier to acquire skills at an early age and keep growing from there.
You should learn things like image editing, video editing through soft wares, cutting music, making posters, content writing etc. Try to do more and more things. The more you do such activities the better you get. Learning these skills will help you in so may ways. You can grow your business through these skills and these skills will always be with you.
A lot of people don’t have money at this age but you don’t have to worry much about it. Apart from little expenses such as Shopify subscription fees there are no other major expenses. These little expenses should not be a hindrance. The biggest hindrance of money comes when you start spending in Facebook ads.
There are a lot of people who do freelancing jobs and have a source of income or have a part time job. In this case its awesome. You can spend your earned money into your Dropshipping business.
You should also learn to spend money on Facebook ads in the right way. You should keep a record of your expenses and keep a record of your profit margins.
If you have no source of income and money to spend on your Facebook ads then you have to spend your time instead. When you have money, you can spend as much as you want on ads but when you don’t have money you have to spend a lot of time on your business.
If you don’t have enough money to spend on Facebook ads for finding your winning product then you must spend a lot of time on Dropshipping. Invest your time into building social profiles, regularly posting about your products, building up a fan base, start advertising your products etc. You can make use of social media platforms like Instagram, Facebook, and YouTube. When you build enough audience, it become easier to sell your products without enough ads.
Write good product descriptions, spend time on optimization of your page, do keyword research, and build an organic traffic. It might take a lot of time for you to build an organic traffic but it will be worth it. You can build a good store by doing all the above things.