You need a good credit score to start a high-ticket drop shipping business and in this podcast, I talk about why.
- Expensive products over 1k AOV
- Margin is 20-30% so cost is 500-1500 or more average
- First month 10 orders, double each month after that
- When order is placed, it takes 3-5 business days for cash to be deposited into business checking
- You need high limit credit card to be able to place orders with suppliers as they come in so shipping time is fast
- Rewards cards are ideal so you get cash back or miles which can be used tax free however you wish
- If you have bad credit, repair it first, then get started. Or, if you don’t have credit or don’t have a long enough credit history to get a high limit credit card, find a partner who does have good credit and a long credit history who you can go in 50/50 and have an exit plan after first year so you can then start your own store later if you wish to.
Looking to start your own high-ticket drop shipping eCommerce store?
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My recommended resources for high-ticket drop shipping: https://ecommerceparadise.com/resources