Let’s Face it. Dropshipping cannot be started with less than $300

Posted this in a dropshipping group and got comments favoring both sides. Like to know what you guys think.Let’s face it. Dropshipping cannot be started with less than $300. If someone told you that you can, they are probably trying to sell you a course which costs $297How much you really need to start a dropshipping business? Can I start a dropshipping business with $100? How many sales can I get if I have a starting budget of $50?Ahhh, man. I am tired of these questions bought up to me every day. So let’s face it.How much you need to start a profitable dropshipping business?Let’s break down the startup costsDomain name - $14Shopify plan - $29Apps - $20Let’s give you 3 months for you to be profitable with your store.So the above costs will be:Shopify plan for 3 months ($29 x 3) = $87Apps for 3 months = $60.So the lowest startup budget you should have is - $161Ok. I know what you’re thinking. I don’t need any paid apps to start.No. You should be budgeting at least $9 for the apps to start. A basic review app to import reviews.As you promote you should be expecting to spend some money on apps that let you upsell/bundle sell, abundant cart recovery. Let’s get it straight.You won’t be profitable without these in place.Next stop marketing. How much you need?Well, some say that you can promote on groups and other places to get sales without spending any money on ads.This is not true. You won’t be profitable unless you already have a community/following. Even if you get some sales, it will barely cover the fixed monthly expenses we listed above.If you’re going with Instagram influencers to promote your product. A good influencer with quality following and engagement would cost you between $100 - $200.Every influencer you pay won’t bring you sales. They can’t promise you the sales.And think about it. You’re going to them without a proven product (which means your testing the product). So there is no guarantee here.If you pay $100 for 5 influencers to promote your product. That is $500. If you don’t have a proven product and quality audience. Let us all pray that this will break even.Facebook ads!!!! How much you need to test a product.I would say at least $75 per product to test it to its full potential. So say you test 10 products before finding a winner (this is just an assumption, not guaranteed).So it’s $75 X 10 = $750.If you do the ads right. You should expect to get some sales with that ad spend. So say you get back $400 in profits from the sales generated in the testing phase. This money can be reinvested in ads.So in the best case 750 - $400 = you lost $350 before finding your winner.And don’t forget about the cost of goods sold. Let’s have $200 for the cogs.So it’s now $350 + $200 = $550.This is in the average case scenario.Sometimes you find your gold mine pretty early. Some times it takes 20 - 30 products before finding something.So be prepared.So I would say you need at least $1500 to be safe/comfortable starting your dropshipping business. Anything below $1000 is a big risk now.I am not saying that no one can ever start a successful dropshipping with less. You can if you have a marketing background or very lucky/smart.But this post is for the ones who don’t fall into that category. For the people who make the largest group.This post is not to discourage you. This is to warn you.If you need any help or anything. Feel free to reach out. Always happy to help :)Happy selling everyone! see hubwealthy.com/wealthy