In the fast-paced ecommerce business world, staying ahead in marketing tactics is not just an…
You can call me Mr. Wonderful, as Kevin O’Leary would put it. In this post, I will show you how to dropship Shark Tank products and how you can be profitable before a product is saturated.
If you love entrepreneurship, you have seen the famous reality TV show for entrepreneurs, Shark Tank.
In the show, startups and serial entrepreneurs pitch their business ideas to investor sharks to get investments.
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This show stands out since most of the products featured are unique and new; hence, the idea of how to dropship shark tank products came into play.
The show has helped startups launch successful businesses and increase sales.
The sharks invest and become part of the company and help with mentorship and running the business.
Why Dropship shark tank products?
As mentioned earlier, this show features new, rare, or wow-worthy products.
The show also boosts product popularity, making it easy to target with ads.
There is a high chance of being among the few sellers drop-shipping the product when it is still new and has low competition in the market.
How to Start the process
The catch is to keep up with every episode of The Shark Tank. It is how you will identify a potential product to test in your Shopify store.
If you have yet to watch the Shark Tank show, do so to grasp what I am talking about.
To start, you need a Shopify store; if you don’t have one, consider signing up here for a $1 per month offer for the next 3 months.
I assume you have a shop already, and you know how to use Aliexpress and Dsers dropshipping app.
Just a few days ago, I watched the latest episode of Shark Tank season 11, and two budding entrepreneurs appeared in the show as drop shippers.
They identified a hover shoe on Aliexpress, branded it as Zuum, and presented it on the show. The product idea was great, but the only challenge faced was that they never owned the product or had rights to the products, which meant everyone could do the same thing they did.
But the idea is, if they did that, you too could do it.
As you can see, the shoe sold on Aliexpress; the only difference with theirs is just the branding.
But that is beside the point; watching the show, identify a product based on the following factors:
- It must have a wow factor.
- Low in competition
- High in demand
- Solves a problem or offers a solution
The right product on The Shark Tank has the potential to scale and make millions, but not every product on The Shark Tank show can be dropshipped or found easily on the web apart from the original manufacturer.
For instance, in season 11, a startup eCommerce company presented its pitch as a wise pocket, specializing in designing pockets in women’s leggings and socks.
As you can see, the below product solves an issue for workout enthusiasts who can’t do without their phones.
This pocket legging helps them carry their phone to whatever exercise they are involved in.
Finding the product on Aliexpress
Here is the catch: you are to go to Aliepxress and type a similar keyword related to the product you just watched the launch on the show.
This must not be their original product but a variant or similar to the one featured on the show.
So I just went to Aliexpress and typed ” pocket leggings, ” as you can see, there is a product that serves the same purpose as the one featured on Aliexpress.
Now you ask yourself how the product is on Aliexpress.
Let me explain this to you:
- Either the startup companies on Shark Tank borrowed the idea from Aliexpress and branded it to fit their market and consumers,
- The suppliers on Aliexpress are keen on trends and entrepreneurship TV shows like The Shark Tank, and they gather product deads and produce similar products to the one launched but avoid infringing rights by not having anything to do with the company that launched the product on the Tv show.
So you will find similar products but with different branding and materials.
Targeting and product pricing
Now that you’ve imported the product to your shop, the number of products you want depends on how far you are willing to research and look for a look-alike product or similar product as featured on the show.
It is time to take you through how to do your pricing and targeting to reach your market.
If the pocket legging product was presented as a $19.99 retail price on the show, you must go below to at least $17.99.
The reason for lowering your price is logical; millions of show lovers have been exposed to the product and the official website for only 19.99.
The only way to catch their attention is to have a similar product at a much lower price than the one they just watched.
As we are all aware by now, I assume you have a killer product page, upsell, and cross-sales set up and ready to launch your first ad.
I suggest you target QBC. As you know, Lori Greiner, the queen of QBC, helps most of her startups get featured on the show.
Most products see the light of the day at QBC and relate to the shark tank.
A customer who watches the show must have watched Lori on QBC and will likely buy a product they just watched on Shark Tank at a lower price.
You can do image carousels, images, or video ads if you have designed the creatives.
What are the risks involved in dropshipping shark tank products?
A few risks are involved in the dropshipping business since you do not control product production or shipping.
Since we are dropshipping products from Shark Tank, some of these products are trademarked and patent-pending; hence, using some images or video content can ban your Facebook business account.
So, you have to create new content for your marketing without copying or infringing on the content rights of the original creators.
You may also need higher conversions if you run ads on a low budget because the original creators or startups may be spending more on ads than your store; hence, you may need help with conversions.
It’s easy to create a video. You can hire a freelancer on Fiverr for as low as $5 per 30 seconds of video length or ship the product and make your video yourself.
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So yes, you can dropship shark tank products and either make a one-product store, a general store, or just a niche-based Shopify store around the shark tank products.
You can extend this research by watching all Shark Tank episodes aired in several countries.
Please make time to watch all their shows and The Lion’s Den.
The best way to review all the products that have appeared on the show is to visit this website, which features them based on episodes, categories, and videos.
You can also check out all Shark Tank products.
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