So you want to make extra money? Possibly more than you need for living your everyday life? You could start an online store, sell your photos on stock platforms, or you could even become a full-time copywriter for one of the many companies that want your help promoting their products online.
But wait, is affiliate marketing a way to make money you’ve never tried before? Can someone really make a living off of blogging? Can you make money from online liquidation? Let’s dive into these questions.
What Is Online Liquidation?
If you’ve never heard of online liquidation, then you’re probably wondering what it is. Essentially, online liquidation is a way for an online store or marketplace to buy and sell products directly to consumers without having to go through a middleman like a traditional retail store. For example, if you’re an accessory store and you want to sell a scarf on your online store, you would enter into a contract with the company that makes the scarf. Then, when a customer purchases that scarf from your store (in this example, it’s called a drop-ship store), you would actually send that scarf directly to the customer. Essentially, the middleman—in this case, the shopify—fulfills the contract by taking care of the transaction, delivering the product, and ensuring the buyer is satisfied.
Why go through a middleman? Typically, a traditional retail store handles all the orders and customer service, while a drop-ship store simply takes the orders and deliveries the products. Therefore, drop-ship stores can scale much more easily since they don’t have as many employees as a traditional retail store. Additionally, if you run a drop-ship store, you don’t need to maintain a warehouse full of products since you can simply order what you need as customer demand requires.
Earnings From A Drop-Ship Store
You might be wondering how much money you can actually make from a drop-ship store. In 2020, the Shopify Blogs found that the average annual income for a blogger or content creator is $16,000-$20,000 per year. If you apply this to our example above, where we sell scarves and we’re currently the largest supplier in our niche, you can see how much money you can make. In our case, since we only need to order what we need and can get it delivered directly to our customers, we save a lot of money over traditional retail.
If you’re interested in learning more, you can check out our blog’s income over the past year or browse through our blog’s income reports dating back to 2018.
Other Ways To Make Money Online Or In An Ebay-Like Setting
There are many ways to make extra money online or in an eBay-like setting. If you want to continue reading, here are just a few suggestions: