The top richest dropshippers in the world are:
These top dropshippers have generated millions in the industry. For example, Andreas Koenig and Alexander Pecka have made $10 million in sales. They sold pet accessories via their dropshipping store Doggykingdom.
When done right, dropshipping is a profitable yet low-risk business model. A successful dropshipping business earns anywhere from $50 to $5,000 daily. Meanwhile, most dropshippers earn an average monthly income of $1,000 to $3,000 in their first year. Of course, not everyone gets rich in dropshipping. High competition and market saturation are among the most common challenges. Plus failure rate is high. According to AppScenic, 90% of dropshipping businesses fail within their first 30 days.
On Reddit, mrputiton_12 shares about earning “over 10k in 1 week of sales.” The 17-year-old dropshipper points out that this type of business requires hard work. He says dropshipping is more than “scrolling on your phone for a product, posting an ad and expecting to be rich.” In fact, drosphippers have to do research, buyer avatars, backend systems, and more. “You can’t expect your low work ethic to translate to big results,” the Redditor concludes.
Etsy dropshipper finx25 says they earned $1k profit in the first month, $1.5k in the second month, and $2k in the 3rd month. “There are even people who make more,” adds the Reddit user. “But these are our earnings on Etsy which is not bad at all if you'd ask me.”
In 2017, I also did dropshipping as a business. I sold shark onesies via my Shopify store and used Facebook Ads for promotion. While I made over $48,000 in sales within 30 days, it wasn't an easy business to manage. Constant ad monitoring, customer issues, and short product lifecycles make dropshipping a challenge.
We feature some of the world's richest dropshippers and their success stories. We share the niches and platforms they used. Plus, we also tell you about some of the drawbacks of the business model.
1. Andreas Koenig and Alexander Pecka: $10 Million Per Year
Andreas Koenig and Alexander Pecka are entrepreneurs from Vienna, Austria. They achieved success through their dropshipping venture Doggykingdom. Their strategic approach to online marketing made them stand out among their competitors. Furthermore, they displayed great understanding of customer needs in the pet product market. Today, they share their expertise through the König & Pecka Institute for E-Commerce.
Andreas Koenig and Alexander Pecka Dropshipping Success Story
Andreas Koenig and Alexander Pecka started dropshipping automatic toothpaste dispensers in 2018. Their inexperience with running Facebook Ads led the business to its failure. While they had good video content, they were spending more money on ads than they were earning.
Their next business move was to establish a general dropshipping store. Through Life-Hacks, they sold 40 products across different niches. Andreas and Alexander later realized this approach created significant challenges. Working with several suppliers was hard. Frequent price changes affected profit margins. Marketing was inefficient because they had a broad target audience. They shut the business down after realizing that niche stores present better opportunities.
Andreas and Alexander shifted their focus on starting Doggykingdom. This new dropshipping shop sold pet products - a niche market with a high demand.
How Much Did Andreas Koenig and Alexander Pecka Make With Dropshipping?
Andreas Koenig and Alexander Pecka make about $10 million per year with dropshipping. They set a goal to make $1,000 daily when they started. They didn't make money for a year. Despite that, they continued to adjust their branding and customer acquisition strategies. By 2019, their pet business was bringing in $500,000 per month.
Key Takeaways From Andreas Koenig and Alexander Pecka
2. Sebastian Ghiorghiu: $8 Million Per Year
Sebastian Ghiorghiu is a self-made millionaire from Peoria, Arizona. He started his online business at 20 years old, earning $10,000 every day. He now runs a successful Google Ads agency called Digital Wealth MB. Sebastian also runs two online courses, EcomAlphas and Discover TikTok Dropshipping. His YouTube channel focuses on ecommerce, dropshipping, and online entrepreneurship. He currently has 1 million subscribers on the platform.
Sebastian Ghiorghiu Dropshipping Success Story
Sebastian Georgiou had humble beginnings. He worked at Taco Bell and at a car wash to save money. He got into dropshipping when he came across Graham Stephan's YouTube channel. A video taught him about earning passive income through real estate investments. Sebastian later discovered the potential of dropshipping. He committed to learning this business model by experimenting with online stores. Today, Sebastian runs several online shops selling different types of products. He uses paid ads to boost his Shopify dropshipping sales and visibility.
How Much Did Sebastian Ghiorghiu Make With Dropshipping?
Sebastian Ghiorghiu made $35,000 with his dropshipping business on Cyber Monday. He also had other income sources. This includes doing consultation calls, affiliate marketing, and YouTube ad revenue. This strategy earned him $70,000 to $80,000 in monthly sales. His net worth is now around $8 million.
Key Takeaways From Sebastian Ghiorghiu
3. Harry Coleman: $5 Million Per Year
Harry Coleman is a successful dropshipper and e-commerce expert from England, United Kingdom. His dropshipping store sold pet products. He is now known as Beast Of Ecom. He runs a YouTube channel with over 81k subscribers. Plus, also provides consultancy services on Shopify dropshipping and Facebook ads.
Harry Coleman Dropshipping Success Story
Harry Coleman's journey into dropshipping began in 2016. At the time, he was researching various online money-making methods on forums. He learned about AliExpress dropshipping. Harry chose nail products for his first dropshipping store. He would start a general store to sell more products and cater to a wider market. Using Facebook ads proved to be an effective marketing strategy. He launched effective ad campaigns to reach more customers. He later began selling unique items, such as jewelry for horse lovers and LED dog collars.
How Much Did Harry Coleman Make With Dropshipping?
Harry has made over $5 million in revenue, running 3 dropshipping stores. In his early years in the business, he made $100 to $200 daily selling niche items. He kept trying different products and advertising methods until his sales increased. He then went from making $1,000 a day to reaching $10,000 per day. He has earned over $1 million in 2 months on Shopify.
Key Takeaways From Harry Coleman
4. Alex & Mimi Ikonn: 7 Figures Pear Year
Alex and Mimi Ikonn are business partners from London, England. In 2010, they founded the start-up Luxy Hair while based in Toronto, Canada. In 2018, they sold the company to the Beauty Industry Group (BIG). In 2013, they also founded Intelligent Change. They sold 1.9 million units of the popular Five Minute Journal. Alex and Mimi also have over 3 million YouTube subscribers on their Luxy Hair channel.
Alex & Mimi Ikonn's Dropshipping Success Story
Alex and Mimi's dropshipping journey began with Luxy Hair. They sold hair extensions after struggling to find the perfect product. The partners bought $20,000 worth of hair extensions on Alibaba. They then used YouTube to promote their products. Alex and Mimi realized that hair was a visual product so people needed to see it. They optimized their videos with SEO and keywords to target the right audience. They also used influencer marketing and social media to post positive product reviews. This strategy helped Luxy Hair grow into one of the largest direct-to-consumer (D2C) beauty e-commerce brands online.
How Much Did Alex & Mimi Ikonn Make With Dropshipping?
Alex and Mimi have not disclosed the amount they've made with dropshipping. However, they did say that they make around seven figures per year.
Dropshipping Takeaways From Alex & Mimi Ikonn
5. Pierre Emmanuel: $1.6 Million Per Year
Pierre Emmanuel and his wife moved to Nevada, USA from France. He came to the country to work as the Director of Digital Marketing at SPEEDVEGAS Motorsports Park. Pierre attended EF International Language Campuses and EDHEC Business School. He is a Bing Ads Accredited Professional. He also has Shopping Ads Certification, Google Ads Video Certification, and Google Ads Search Certification. Pierre is a trusted guru known for building a problem-solving dropshipping business.
Pierre Emmanuel Dropshipping Success Story
When Pierre Emmanuel and his wife moved to the US, Pierre had to find an extra source of income to support his family. His wife’s visa didn’t allow her to work in the country. Pierre created a profile on Upwork to offer digital marketing services. While working with various e-commerce companies, he encountered clients who were into dropshipping. He saw this as an opportunity to establish his own brand. Pierre realized it was not an easy business to run. He had to deal with product returns because of unhappy customers. Paypal would also hold his money so he experienced cash flow problems. Fortunately, he started getting more customers after finding a better product. He also worked with a reliable dropship supplier.
Pierre decided to bump up his efforts and invest in high-quality promotional materials. He also leveraged Facebook ads and software to spy on his competitors. If a product worked well for them, he’d also test it. He invested almost $600k in Facebook and Google ads in 2019 to promote his brand.
How Much Did Pierre Emmanuel Make With Dropshipping?
Pierre Emmanuel made over $1.6 million from his dropshipping business. His success came from using Facebook ads and learning from his competitors.
Key Takeaways From Pierre Emmanuel
6. Adam Greenspan: $102,000 Per Month
Adam Greenspan achieved fame for his unique dropshipping business Wallplate Warehouse. He sells switchplate covers, light switch plates, and electrical cover plates. He was a former Yahoo employee and has also worked for entrepreneur Mark Cuban. His Shopify dropshipping store was later posted for sale on the Shopify Inc Exchange.
Adam Greenspan Dropshipping Success Story
Adam Greenspan discovered a successful dropshipping niche through a personal connection. In 1998, he met a friend who manufactured wallplates. In 2003, he would launch a dedicated online store called Wallplate Warehouse.
Identifying an overlooked but much-needed household product helped Adam gain customer attention. His experience proves that focusing on a specific, unglamorous niche can be profitable.
How Much Did Adam Greenspan Make With Dropshipping?
Adam Greenspan makes around $102,000 in sales monthly. He has garnered a 7-figure revenue in dropshipping.
Key Takeaways From Adam Greenspan
7. Sarah and Audrey: $2.5 Million
Sarah and Audrey are French entrepreneurs who joined forces in dropshipping. They stand out as examples of female leadership in the male-dominated ecommerce space. Their decision to combine skills and resources came after starting separate dropshipping ventures.
Sarah and Audrey Dropshipping Success Story
Sarah and Audrey experienced failure with their separate dropshipping stores. Instead of giving up, they focused on education and developed complementary marketing skills. Sarah learned influencer marketing while Audrey mastered paid advertising. They met at an event and recognized their shared business vision. They decided to partner in 2020 and targeted the US market.
How Much Did Sarah and Audrey Make With Dropshipping?
Sarah and Audrey experienced significant success, particularly during the U.S. lockdowns. They achieved a million dollars in sales in a matter of weeks. Furthermore, they are developing two major worldwide brands. These business have generated over $2.5 million in sales within 4 months, with a 45% profit margin.
Key Takeaways From Sarah and Audrey
8. Mike and Yuliya Pavlou: $200,000 Per Month
Mike and Yuliya Pavlou are dropshippers from New Jersey. Their ecommerce store focuses on accessories. Yuliya is a health coach and a business consultant. Mike finished his Ph.D. before they decided to venture into dropshipping.
Mike and Yuliya Pavlou Dropshipping Success Story
Mike and Yuliya started out with NeuroBox, a subscription box business. They later sold it after 6 months, saying they overcomplicated the model. They switched to dropshipping, using AliExpress and Google Trends for product research. Mike and Yuliya would launch an accessories store.
Email marketing helped their brand connect with target customers. Their strategies also involved creating personalized email campaigns and sharing valuable content. Plus they had special discounts and promotions for their buyers.
How Much Did Mike and Yuliya Pavlou Make With Dropshipping?
Mike and Yuliya generated around $200,000 in sales revenue in their first year. Today, they have a multi-million dollar brand.
Key Takeaways From Mike and Yuliya Pavlou
9. Alex Philip: $250,000 Per Year
Alex Philip is a teenage entrepreneur from London, England. He started his online business at age 11. Today, he is one of the youngest and richest dropshippers in the world. Alex runs a YouTube channel where he shares about Amazon dropshipping and e-commerce. He currently has over 2k subscribers on the platform.
Alex Philip Dropshipping Success Story
Alex Philip began his e-commerce journey by selling Pokemon toys on Amazon. In 2017, he learned about dropshipping and decided to start his own store called Cool Life. He found wholesale products on Alibaba and resold them at a markup on Shopify. Furthermore, he used social media to stay updated on trending products. He also collaborated with Ultra Education CEO Julian Hall to improve his business.
How Much Did Alex Philip Made With Dropshipping?
10. Cole Turner: $2.1 Million in Sales
Alex Philip is a teenage entrepreneur from London, England. He started his online business at age 11. Today, he is one of the youngest and richest dropshippers in the world. Alex runs a YouTube channel where he shares about Amazon dropshipping and e-commerce. He currently has over 2k subscribers on the platform.
Alex Philip is a teenage entrepreneur from London, England. He started his online business at age 11. Today, he is one of the youngest and richest dropshippers in the world. Alex runs a YouTube channel where he shares about Amazon dropshipping and e-commerce. He currently has over 2k subscribers on the platform.
Cole Turner Dropshipping Success Story
Cole Turner began dropshipping with plant and pottery products. It didn't perform well. After opening a general dropshipping store, he decided to focus on jewelry products. It turned out to be a success. Cole would end up selling this jewelry store to start a different business with a partner. His marketing strategy relied on using Facebook ads to drive traffic to his products. He also directed ads to his store’s homepage, which features several popular products.
How Much Did Cole Turner Make With Dropshipping?
Cole Turner made $75k in sales from selling a single jewelry product. Later, he would make over $700k in sales from a niche store. In 2019, his latest store had over $2.1 million in sales.
Key Takeaways From Cole Turner
11. Irwin Dominguez: $10,000 Per Day
Irwin Domiguez is former local marketing consultant from San Diego. He helped landscapers and plastic surgeons find more customers online. He studied Bachelor of Business Administration, Accountancy, and Business Administration and Management at California State University San Marcos.
Irwin Dominguez Dropshipping Success Story
Irwin Domiguez pursued dropshipping after hearing about his friend’s success. He opened a Shopify account, created a store, and added a few products. He learned through trial and error, particularly focusing on mastering Facebook advertising. This strategy became key to his store's success. Irwin's story shows that sometimes, practical experience is as valuable as extensive research.
How Much Did Irwin Dominguez Make With Dropshipping?
Irwin Dominguez made $1 million in sales within 8 months of starting dropshipping. His highest sale was $30k in one day. At one point, he was averaging at $10k per day in revenue.
Key Takeaways From Irwin Dominguez
12. Aloysius Chay and Galvin Bay: $60,000 Per Day
Aloysius Chay and Galvin Bay are former Macau professional poker players. They transitioned to ecommerce when gambling earnings became inadequate. In 2020, they started Hydragun - an e-commerce performance consumer tech firm. They are also co-founders of Bay & Chay Pte Ltd. Galvin attended Nanyang Technical University to study business, banking, and finance. Both of them live in Singapore. Their story proves it's possible to pivot from unrelated fields into ecommerce.
Aloysius Chay and Galvin Bay Dropshipping Success Story
Aloysius Chay and Galvin Bay heard about dropshipping from a friend. They saw this as an opportunity to make money. Within months, they opened their first jewelry niche store and then a second store. Their success wasn't immediate. They tested approximately 30 products before finding what works for them. They first suffered losses until discovering the importance of country-specific audience targeting. Like many successful dropshippers, Facebook ads became their most effective marketing tool.
How Much Did Aloysius Chay and Galvin Bay Make With Dropshipping?
Aloysius Chay and Galvin Bay made $60,000 a day on average within their first year of doing dropshipping. “Our best day of sales to date is at high 5 figures USD,” they told Oberlo. “We will continue to grow to surpass the 6 figures mark.”
Key Takeaways From Aloysius and Galvin
13. Tze Hing Chan: $100,000 in Revenue
Tze Hing Chan is a Malaysian entrepreneur. He studied finance and marketing at the Singapore Management University and the University of Melbourne.
Tze Hing Chan Dropshipping Success Story
Tze Hing Chan’s dropshipping journey began during his internship. He met people in the industry and dedicated much of his time researching about the business. His first store was Subtle Asian Treats. He sold bubble tea-themed items like phone cases, kitchenware, and merchandise. He chose this product because he saw the trend in the Asian market. It wasn’t as profitable as he thought, but he didn’t give up. When he started selling bubble tea plushies, he saw his sales increase. He would also run Facebook ads to promote his product.
Tze Hing Chan discovered dropshipping during his internship through industry connections. He launched Subtle Asian Treats, capitalizing on the bubble tea trend in the Asian market. He sold bubble tea-themed merchandise including phone cases and kitchenware. Initial sales were disappointing. He later find his breakthrough product with bubble tea plushies. He used Facebook ads to promote them. His experience shows the importance of understanding market trends. Moreover, he persisted despite initial setbacks.
How Much Did Tze Hing Chan Make With Dropshipping?
Tze Hing Chan made $7500 in revenue within 2 weeks of selling bubble tea plushies. In 2 months, he earned a revenue of $100k.
Key Takeaways From Tze Hing Chan
6 Secrets To Become Rich In Dropshipping
1. Find a Profitable Dropshipping Niche
Finding a profitable niche requires balancing market demand with competition levels. This approach increases your chances of sales and business growth.
To identify promising niches, dropshippers analyze market data. Using Google Trends lets you track rising product interests. You also leverage supplier databases like CJDropshipping and Spocket to source products. The key is focusing on a specific market segment rather than trying to sell everything. A niche store often leads to better sales and growth potential than a general store.
2. Add Value to Your Offer
Adding value to your offer gives customers more reasons to buy from your online store. You do this by focusing on:
According to HelpScout, 78% of potential customers back out of a purchase due to poor customer experience. Streamlining your order fulfillment process helps prevent cart abandonment.
On X, Harry Coleman reminds that buyers “check out product images before scrolling“. So putting “as much info” in your product images help you sell more. This means mentioning your product's benefits, showing social proof, and other important aspects. “The more they consume, the likelihood of them buying increases,” he adds.
Redditor Melodic-Space-1536 says modern dropshippers are now “competing with Amazon than AliExpress.”
To gain competitive advantage, you should “make a better deal or better bundle with your store.” The post also reads, “people will buy from your store over Amazon even if the shipping will take a little bit longer.”
3. Implement Effective Marketing Strategy
Effective marketing strategies help you reach your target market. As a result, you get to sell more and grow your dropshipping business. The richest dropshippers invest in Facebook ads and Google Ads. Influencer marketing is another way to reach a specific customer base.
YouTuber Nathan Nazareth vlogs about a viral chocolate product. Some videos on TikTok have gained over 200,000 to 2 million views. “What they've done here is they've hired tons and tons of different creators,” he says. “They've probably sent them over heaps of content content ideas. Hired a creative director to manage all of them.”
“Content is king,” adds the dropshipping expert. According to him, dropshippers should create their own content and tap other creators.
Of course, successful dropshippers use multi-channel listing. They sell the same products across different platforms. LeadSquared reports that online retailers listed in several channels generate 190% more revenue. If you're not sure which platforms to focus on, check your dropshipping statistics. Optimize campaigns that work best to increase your traffic and sales.
4. Focus on SEO
Focusing on SEO improves your dropshipping business’ visibility online. Organic traffic is crucial for long-term business growth and profitability. Research and include keywords that potential customers use to find your products. Put these keywords in your listing and product descriptions. Create quality content related to your niche.
“SEO is a long game,” says Redditor Gibbinthegremlin. In fact, it will likely need months of work on your end. “You want to have at least two blog posts a day.” Doing so will help you achieve “topical authority in Google's eyes,” adds the Reddit user.
5. Adopt a Long-Term Approach and Set Goals.
Adopting a long-term approach and setting goals leads to dropshipping growth and success. Use data and market analysis - not guesswork - to guide your business decisions. Besides, you are not only going after quick profits. Instead, you are building a sustainable, scalable brand.
According to the Dropship Breakthru blog, entrepreneurs need to “set realistic goals.” “Define clear and achievable goals for your dropshipping business,” it continues. “Understand before you start that success won’t happen overnight, and be prepared to do the work.”
6. Provide Outstanding Customer Service
Providing outstanding customer service builds customer trust and loyalty. A good customer experience leads to repeat business and positive word-of-mouth. Use software like Zendesk or Freshdesk. These tools simplify order tracking and customer response.
Give tracking numbers for real-time monitoring. Respond to messages in a timely and professional manner. Set clear expectations about returns and refunds. If you're catering to international customers, have multilingual support. Address language barriers through automated translation tools, multilingual staff, and pre-written responses. Handle time zone differences through automated response systems and outsourcing.
Can Dropshipping Make You Rich?
Dropshipping can make you rich with top sellers earning up to $10 million per year. Other successful operators make six-figure incomes. Success stories like Doggykingdom's show this potential. Of course, they also reveal that significant wealth through dropshipping isn't achieved overnight.
Most rich dropshippers faced failures before succeeding. Despite that, they used each setback to improve their business. While the potential for sizeable earnings exists, success depends on different factors. Market competition, product quality, service reliability, and platform choice contribute to profitability. The path to dropshipping wealth requires dedication, strategic thinking, and resilience.
What Are the Top Dropshipping Niches for the Richest Dropshippers?
The top dropshipping niches for the richest dropshippers are:
What Are The Top Dropshipping Products For The Richest Dropshippers?
The top dropshipping products for the richest dropshippers are:
What Are The Top Dropshipping Platforms For The Richest Dropshippers?
The top dropshipping platforms for the richest dropshippers are:
3 Obvious Drawbacks Of Dropshipping
The 3 obvious drawbacks of dropshipping are:
1. Dropshipping is Highly Competitive
Dropshipping is competitive because of its low barrier to entry. Attracting attention is always a challenge for new dropshippers. To stand out, dropshippers create catchy content and invest on marketing.
2. Dropshipping Has Low-Profit Margins
Dropshipping has low-profit margins. which to limited revenue. A Shopify study says dropshippers generally earn around 15-20% profit from their products. Plus other costs, like higher shipping fees or paid ads cuts into your earnings.
3. Dropshipping Give You Little Control Over Inventory
Dropshipping gives you little control over inventory because you are a middleman. You do not manufacture or manage stocks since you only source from suppliers. This means you can't inspect products before shipping orders. You also have no control over stock levels. While virtual warehousing software helps track inventory, it does not prevent stockouts. This will affect your sales and even damage your reputation.
Create Sustainable Wealth With Local Lead Generation
Creating sustainable wealth is possible when you choose the right business model. Dropshipping has its upsides as shown by the success stories in this article. Still, there are certain challenges that come with it. It's hard to stand out because so many people are doing it. Dropshipping profit margins are low and you can't control stock levels.
In many ways, local lead generation is a superior business model. Starting a dropshipping business costs up to $1,000, according to Forbes. Local lead generation only costs at least $500.
With that amount, you'll be able to build and rank a niche website. Once the site reaches top rankings, you can offer the site for rent to small business owners that need leads. Potential lead gen earnings range from $500 to $3,000 per month, with profit margins of up to 95%. Now imagine owning and renting out several websites.
I've been an online entrepreneur since 2014 and I've created multiple 6-figure businesses. That said, local lead generation is my most favorite. My sites generate passive income for me. This makes the model more attractive than dropshipping. You won't have to worry about the complexities of selling physical products. Plus, you won't even have to compete in a saturated market. With local lead gen, all you have to do is rank your site. The possibilities are also endless, with over 41,000 zip codes within the United States. There are also almost an unlimited number of possible business niches to pursue. Finally, our coaching program teaches you the repeatable 3-step process to ensure success.
