Dropshipping Products That Can Make You A Millionaire: The drop shipping business is one of the promising retail businesses that is generating high-profit margins for people lately.
The drop shipping business has a simple business model that can easily be understood and used by all including people with little or no educational background.
The business model entails receiving orders from customers or clients in bulk and ordering the goods from the manufacturers of this product with the agreement of shipping these products directly to the customers/clients.
We can also say drop shipping means buying products in demand at a cheap price (usually from foreign countries like China) and selling to at a more expensive price to customers.
The drop shipping business happens for almost all household products.
As simple as this business model is, it has helped a lot of serious business-minded people become millionaires in no long time.
In One word, we can call drop shippers “middlemen” in the business chain of distribution.
The profit gotten from receiving orders at retail price and placing orders in bulk price has liberated a lot of people to improve their standard of living.
Some of the cost prices of these products are low but generate very high profit.
However, even though drop shipping is a promising business with different unique products, however, some products are known for high-profit margins and can make you a millionaire in Naira and on some occasions also in dollars.
In this article, we will discuss the dropshipping products that can make you a millionaire in no time. However, it is not a get-rich-quick Ponzi scheme. It requires dedication, determination, discipline, and a good understanding of the drop shipping business.
Before compiling this list, I did a lot of research on the cost of acquiring these products and the selling price of this product driving into a conclusion about their ability to make you a millionaire.
In addition to the research, I reached out to drop shippers of these products to ascertain the reliability of these products.
So, you can rest assured that these products are not just theoretical products that can make you a millionaire but also practical.
Let us dive into these products.
Dropshipping Products That Can Make You A Millionaire 2024
1. Wrist Watches
3. Clothing And Foot Wears
4. Phone Accessories
5. Fitness Equipment
6. Skin Care Products/Beauty products
7. Motor Car Parts
8. Smart Home Products
9. Kitchen Appliances
10. Digital Products
Follow me below for a detailed explanation of how these businesses can make you a millionaire
1. Wrist Watches: The first product we will be discussing is Wrist Watches. A good wristwatch screams luxury. Every human, especially in developing countries in Africa craves this need to feel big, and wristwatch is one of the products that help them satisfy that craving.
If you can start a business that satisfies this craving and makes them live a comfortable life, then you are on your way to becoming a millionaire in no distant time.
There are different categories of watches you can sell. Common types are Smartwatches, designer wristwatches, field watches, digital watches, Unisex watches, and so on.
A popular brand of watches in high demand includes Rolex, Casio, Invicta, Smartwatch, G-shock, and so on.
A brief conversation with a friend who specializes in the wristwatch drop-shipping business shows that she makes a minimum of $500 – $1000 per month.
The question in your mind will probably be “How does she make such an amount”. Stay with me, I will be explaining how she has been achieving this feat while working all from home in Nigeria.
How To Make Millions in Drop-shipping Wrist Watch Products
The answer is simple, she receives order from her clients on the watches they want (a high price attached), combines all the orders, categorize them, and send them to suppliers.
The suppliers, in turn, send the goods to the client directly or to her depending on their agreement.
In a situation where she receives the goods herself, she immediately sends them to the clients after confirming the quality of the product.
However, it is important that before deciding the selling price of the watches, you must first research the selling price of your competitors.
Her pricing policy secret is “Sell Slightly below her competitors while still delivering the same quality”.
The profit margin of drop shipping wristwatches is within 60 – 70% and is best sold in Africa at any time of the year.
2. Jewelry: Jewelry is the second drop shipping product with a high-profit margin. One interesting thing about jewelry is that it can announce your presence in formal or informal meetings.
Jewelry is mostly patronized by ladies with a high standard of living. Jewelry can also be used as a special gift item to loved ones during birthday celebrations, wedding ceremonies, or any other unique event ceremony.
The jewelry drop-shipping business is highly profitable and is quite easy to store after purchase by customers.
The expected monthly profit margin for the jewelry drop shipping business is between 70 – 80% with minimal risk level.
3. Clothing and Foot Wear: Clothing is one of the 3 basic needs of every human being. Everybody loves to look good in their outfit. Recall the saying, “The way you dress is the way you will be addressed”. Nobody wants to be addressed badly, and as a result, people spend a lot on looking good.
There are different categories of clothing you can specialize in. You can either decide to specialize in drop shipping male wear or female wear or even for kids.
As a result of the large competition in clothing drop shipping, it is advisable to specialize in a more specific niche in the clothing and footwear drop shipping business. Especially when you are new to the drop shipping business.
Niche available in clothing drop shipping include; wears for teenagers, infants, young adult, male corporate wear, female corporate wear, beach wears, and so on.
However, the most profitable category is drop-shipping for female wear.
4. Phone Accessories: According to a survey carried out by Afrobarometer, the average percentage of people in Africa using phones is 84%. Also, According to Worldometer, the projected population of Africa is over 1 billion people.
Imagine building a drop shipping business that supplies the needs of 1% of the population of Africa. That is about 100 million people.
In a few years, if managed well, your business valuation will most likely be close to USD$1 million.
There are so many brands of phones you can specialize in drop-shipping at a related competitive price as to your competitors.
Some of the common brands of phones for dropping shipping include iPhone, Samsung, Ifinix, Techno, itel, Redmi, and so on.
Additionally, instead of dealing with phones, you can also specialize in drop shipping a unique part of the phone like screen guard, phone batteries, ear pods, earpiece, Phone pouch, power banks, and so on.
You can start phone accessories drop shipping from anywhere, you necessarily don’t have to start targeting an African audience from the start, especially if you are new to drop shipping.
You can start to drop shipping to your friends, relatives, families, and community, then start growing to a larger audience.
The average profit margin of phone accessories drop shippers is 70%.
5. Fitness Product: Fitness products or gym products are also one of the leading drop shipping products that can make you a millionaire if done well.
These gym products include products that help people keep fit physically. There are a lot of health advantages to keeping fit. As a result, people are willing to spend more to keep fit. If you can supply people with useful fitness products that can help them remain fit, then you can become a millionaire doing that.
Some high-demand gym products you can drop ship include high resistance bands, Alanic, fitness systems, chin-up bars, bike pedal exercisers, yoga balls, fitness smartwatches, weighted fitness hoops, push-up rack bars, and so on.
The most demanded gym equipment are those that can be used for home workout.
6. Skin Care Products/Beauty products: Currently, Skin care products are the fastest rising product to focus on if you want to become a millionaire in no long time. We can also refer to these products as body-care products.
Basically, as a product that helps people look beautiful facially and bodily.
Some of the skin care products you can specialize in include body lotions, hair growth serums, stripes lashes, make-up kits, lash lift kits, and so on.
These products are currently best sold in African countries. The estimated profit margin for drop shipping skin care products in African countries is 60 – 70%.
7. Motor Car Parts: According to auto-part-africa.com, the approximate number of passenger vehicles operating in Africa is 21.6 million. These numbers alone make the African market an attractive one for automobile companies willing to move into the African market.
In Nigeria, according to National Bureau statistics, the estimated total number of vehicles in the country is 11.8 million vehicles.
Couple with the high price required to acquire these vehicles and their various parts if spoilt.
If you invest in specializing in drop shipping car parts and accessories at a relatively cheaper price compared to competitors while still retaining the quality, then you can rest assured of becoming a million soon.
8. Smart Home Products: the rise in technology is currently increasing the demand for these products around the world.
What these products do is make life easier at home for users.
This easy life is been interpreted as comfort and peace of mind by some of the users. As a result, people are willing to spend money to satisfy that craving.
Nobody wants to work all day and not feel relaxed at home.
Some of the smart home high-earning drop shipping products include smart lighting, small plugs, smart blinds, smart assistants, smart door locks, smart switches, smart IP cameras, smart sensors,s and so on
Additionally, the smart home drop shipping ecosystem isn’t as competitive as other products.
9. Kitchen Appliances: Kitchen appliances are products used in the kitchen to aid the kitchen activities especially preparation of meals.
Currently, the demand for these products especially in African countries is very high, however the issue is the price of these commodities. Some of them are not affordable by them.
If you can drop ship these kitchen appliances at a cheaper price compared to competitors in the African market, then you will most likely make your first drop shipping million in a short while.
10. Digital Products: Digital products are intangible products that can’t be seen or touched but yet have high value that can be sold online.
Some of these products include online courses, soft copy photographs, digital music, software, illustrations, eBooks, audiobooks, templates, and so on.
Digital product drop shipping eliminates the process of shipping. All the user of to do is use the download button after payment then they can have access to the digital product online.
Dropshipping Products With High-Profit Margin 2024
Aside from the dropshipping products listed above, there are also some other drop-shipping products with very high-profit margins. These products include;
1. Baby Products
2. Furniture Products
3. Foundation Brushes
4. Electric Kitchen Scale
5. Skin Care Oil Products
6. Facial Moisturizer Lotion
7. Sunscreen Products
8. Electric gadgets
9. Hydrating Eye Gel
10. Pimple Patches
Dear readers, this is the list of the best Dropshipping Products That Can Make You A Millionaire, especially in African countries.
However, other dropshipping products can make you millions but these are the best topping the chart.
If you have any questions on how to start any of these drop shipping businesses, please do not hesitate to reach out to us.
We are determined to ensure you achieve your financial goal. We have a team set up already that will help you achieve your goal.