Make Money With Shopify: 10 Ideas to Get Started

Discover the top 10 ways to make money with Shopify!

Sometimes, we need to make some extra cash, whether for a dream vacation or to pay off those student loans. But with the internet and technology advancing rapidly, there are countless ways to make money online. One of the most popular and profitable methods is to use Shopify.

Believe it or not, you can turn your passion into profits with this magical portal, Shopify. Whether you’re a budding entrepreneur or simply looking for a side hustle, Shopify has something for everyone. So, without further ado, let’s dive into ten ways to make money with Shopify and get those cash registers ringing!

Table of Contents

What is Shopify?

The Shopify e-commerce platform is an all-in-one solution for starting and running an online store. It allows users to easily set up an online storefront, customize it to their liking, and start selling products or services without worrying about technical aspects.

Founded in 2004, Shopify is now one of the leading e-commerce platforms in the world. It boasts over 1 million active users and has processed over $183 billion in sales as of 2020. With its user-friendly interface, extensive features, and affordable pricing plans, it’s no surprise that Shopify is the go-to choice for many entrepreneurs and businesses.

Market Size of Shopify

The e-commerce market is flourishing, and Shopify significantly contributes to its growth. Pify owns 28% of the e-commerce platform market share. In the United States alone, for the 2nd quarter of 2023, Shopify’s market capital is an impressive $74.09 billion.

But it’s not just limited to the US – Shopify powers over 4 million active websites worldwide. It also holds a 2.54% share in the top 1 million websites. With such a vast market size, Shopify is here to stay and will remain a leading player in the e-commerce industry.

What Percentage of Shopify Stores are successful?

While there is no exact percentage, it’s reported that approximately 60% of Shopify stores are successful and generate a profit. This number is impressive, considering the high failure rate of new businesses.

However, success on Shopify requires hard work, dedication, and a solid strategy. Understanding your target audience, choosing the right products, and continuously marketing your store to drive traffic and sales is essential. With the right approach, you have a good chance of joining the successful 60%.

10 Pro Ways To Make Money With Shopify

Dropshipping

With dropshipping, online merchants can avoid the costs and hassles of stocking products in their warehouses. It involves partnering with suppliers who handle inventory and order fulfillment. When a customer orders, the vendor dispatches the goods directly to the buyer. This approach minimizes upfront costs and the need for physical storage, making it an attractive option for those starting an online store. Dropshipping offers flexibility, enabling businesses to experiment with various products and niches without the risk of unsold inventory. However, it has challenges like thin profit margins and potential supplier issues.

Market Demand For Dropshipping

The dropshipping market is booming, showing no signs of slowing down. As more people turn to online shopping, the demand for dropshipping services has increased significantly.

A report by Allied Market Research predicts that the global dropshipping market will reach a massive $1.921 billion by 2032, growing at an impressive CAGR of 23.64% from 2023 to 2032.

How to Get Started with Dropshipping on Shopify

To start dropshipping on Shopify, follow these steps:

Choose a niche: Research and select a profitable niche that aligns with your interests and audience.
Find suppliers: Search for reliable suppliers who offer quality products at competitive prices.
Set up your store: Follow the earlier steps to create and customize your Shopify store.
Add products: Use apps like DSers to easily import products from suppliers to your store.
Optimize for SEO: To get more people to your shop, use search engine optimization techniques like keywords and detailed product descriptions..
Test and adjust: Experiment with different products, suppliers, and marketing strategies to find the best for your store.

Now that you understand dropshipping, let’s explore nine more ways to make money with Shopify.

Print-on-Demand

Print-on-demand is another popular e-commerce business model that allows entrepreneurs to sell custom-designed products without holding inventory. Shopify’s Printful app makes creating and selling products like t-shirts, mugs, and phone cases with your designs easy. With print-on-demand, you don’t have to worry about production or shipping – the supplier takes care of everything. This model offers low startup costs and a high potential for customization, making it a popular choice for artists, designers, and influencers.

Market Demand For Print-on-Demand

The demand for print-on-demand products has been steadily increasing, with more people looking for unique and customizable items. The current market value of the global print-on-demand industry is estimated to be $6.4 billion, with projections showing significant growth potential in the coming years.

One key driver of this growth is the rise in e-commerce and online shopping, where consumers seek more personalized products. This presents a great opportunity for entrepreneurs to tap into the print-on-demand market and sell their custom designs through Shopify.

How to Get Started with Print on Demand on Shopify

To start a print-on-demand business on Shopify, follow these steps:

Choose your niche: Identify a specific design audience or theme to stand out and attract buyers.
Create designs: Use tools like Canva or hire a designer to create unique, eye-catching product designs.
Set up your store: Follow the steps to set up your Shopify store and customize it with branding elements.
Connect with suppliers: Use apps like Printful, Gooten, or Printify to connect with print-on-demand suppliers who handle production and shipping.
Add products: Use the supplier’s templates and mockups to add your designs to various products in your store.
Market and promote: Use social media, email marketing, and other tactics to reach potential customers and drive sales for your custom-printed products.

Profit Margin for Print-on-Demand

Print-on-demand margins are highly variable and affect many factors, including product type, supplier costs, and pricing strategy. However, many entrepreneurs report 30% to 60% profit margins.

Affiliate Marketing

Affiliate marketing aims to earn a commission by promoting another company’s goods or services. Joining an affiliate program and promoting Shopify’s many products can be a lucrative side hustle for business owners. Shopify’s affiliate marketing app, Refersion, makes tracking and managing your earnings easy. This model offers low startup costs and high earning potential for influencers, bloggers, and content creators.

Market Demand For Affiliate Marketing

Affiliate marketing has been rapidly growing in popularity and demand over the years. As more businesses turn to online platforms like Shopify, the need for effective promotion and marketing strategies has also increased. The global affiliate marketing industry is currently worth $17 billion. It is projected to reach a massive $40 billion by 2030, showing immense potential for entrepreneurs to make money on Shopify through affiliate marketing.

How to Get Started with Affiliate Marketing on Shopify

To get started with affiliate marketing on Shopify, follow these steps:

Choose your niche: Identify products or services that align with your audience and interests.
Join affiliate programs: Search for businesses that offer affiliate programs and apply to join them.
Set up your store: Follow the earlier steps to create and customize your Shopify store.
Promote products: Use your website, blog, or social media platforms to promote affiliate products and drive traffic to your store.
Track and manage earnings: Use apps like Refersion or LeadDyno to track clicks, sales, and commissions from your affiliate links.
Build relationships: Maintain good relationships with the brands you promote and continue to provide value to your audience through your promotions.

The mutually beneficial nature of affiliate marketing makes it a lucrative revenue stream on Shopify. Let’s uncover more opportunities for success on this platform.

Digital Products

The rise of digital products has opened up a whole new world of opportunities for entrepreneurs on Shopify. Digital products like e-books, courses, music, and artwork can be created and sold without physical inventory or shipping costs. This makes it a low-cost and high-profit potential business model.

Shopify’s app store offers a variety of apps to help you create, manage, and sell your digital products effectively. Shopify allows business owners to access a potentially lucrative international market.

Market Demand For Digital Products

The demand for digital products has been rising in recent years, which is only expected to continue. JPMorgan estimates that the value of the digital goods market will increase from its current $54 billion to $74 billion by 2025. This shows the immense potential for entrepreneurs to tap into this market and make money on Shopify by selling digital products. With the accessibility and convenience of digital products, consumers are more inclined to purchase them, making it a promising business opportunity on Shopify.

How to Get Started with Selling Digital Products on Shopify

Here’s how to get started using Shopify to sell digital goods:

Choose your niche: Identify the type of digital products you want to create and sell on your Shopify store.
Create your products: Use apps like Digital Downloads or SendOwl to create and manage digital products.
Set up your store: Follow the steps to set up and customize your Shopify store.
Market and promote: Drive interest and purchases of your digital goods using various marketing strategies such as social media, email, and paid search.
Deliver the products: Use apps like FetchApp or Sky Pilot to deliver your digital products to customers upon purchase.

Digital products are a lucrative business opportunity on Shopify, and with the right strategy and platform, entrepreneurs can make significant income from this market. Let’s explore more ways to make money on Shopify!

Private Labelling:

Private labeling is a business model where entrepreneurs purchase and sell goods from manufacturers under their brand name. In this way, companies may make one-of-a-kind, customized products without dealing with the complexities of mass production or research and development.

Shopify’s integration with Amazon makes it easier for entrepreneurs to source private label products and sell them on their Shopify store. With Amazon’s wide range of products and established trust with customers, private labeling on Shopify can be profitable.

Market Demand For Private Label Products

Private labeling has grown in popularity in recent years, and the market demand for these products is expected to continue increasing. According to Data Horizon Research, the private label market was valued at $742.1 billion in 2022 and is projected to reach $2,049.7 billion by 2032. This shows the potential for entrepreneurs to make money on Shopify by selling private-label products. With consumers becoming more interested in unique and personalized products, private labeling allows businesses to cater to this demand and stand out from competitors.

How to Get Started with Private Labeling on Shopify

To get started with private labeling on Shopify, follow these steps:

Identify your niche: Choose a specific category or product you want to sell under your brand.
Find reliable manufacturers: Find dependable manufacturers who can supply your goods at a fair price and network with them.
Brand and design: Create a unique brand name, logo, and label designs for your products to stand out.
Set up your store: Use Shopify’s user-friendly platform to set up and customize your online store.
Market and promote: Reach out to potential customers and get them interested in your private-label products by employing various marketing strategies.

Private labeling is a profitable venture on Shopify, and with the right approach, entrepreneurs can create a successful and unique brand in the market. Let’s explore more ways to make money on Shopify!

Handmade or Unique Products:

Selling handmade or unique products is another way to make money on Shopify. Because of the convenience of online shopping, more and more people are looking to buy unique or customized products. This allows entrepreneurs to tap into this market and sell their handcrafted or unique products on Shopify.

Shopify makes it simple for retailers to advertise their wares on other sites like Etsy and Pinterest, expanding their potential customer base.

Market Demand For Handmade or Unique Products

The demand for handmade or unique products has steadily increased as consumers seek individualized and high-quality items. According to IMARC Group, the global handicrafts market is expected to reach $1296.6 billion by 2028, exhibiting a CAGR of 9.1%. Because of this, business owners can make a lot of money on Shopify by selling one-of-a-kind items.

How to Get Started with Selling Handmade or Unique Products on Shopify

To get started with selling handmade or unique products on Shopify, follow these steps:

Identify your niche: Choose a specific type of product that you want to create and sell, such as jewelry, home decor, or clothing.
Create your products: Use your skills and creativity to make high-quality, unique items that appeal to a specific target audience.
Set up your store: Create a web store using Shopify, then tailor it to fit your company’s style and tone.
Showcase your products: Utilize Shopify’s integration with platforms like Etsy and Pinterest to showcase your products and reach a wider audience.
Market and promote your business through social media, partnerships, and other channels to attract more customers and boost revenue.

Drop Servicing:

Drop servicing is a business model where entrepreneurs offer clients services without performing the service themselves. Instead, they outsource the work to freelancers or agencies and act as the middleman between the client and the service provider.

Shopify’s integration with various tools like Fiverr and Upwork makes it easy for entrepreneurs to find and connect with freelancers who can provide high-quality services. This paves the way for businesses to provide a wide variety of services without having to devote resources to hiring and educating new staff members.

Market Demand For Drop Servicing

The demand for drop service has been increasing as more businesses prefer to outsource tasks rather than hire full-time employees. Statista estimates that by 2027, the global outsourcing market will be worth $114.2 billion, up from an initial valuation of $92.5 billion in 2020. This shows the potential for entrepreneurs to make money on Shopify through drop servicing.

How to Get Started with Drop Servicing on Shopify

To get started with drop servicing on Shopify, follow these steps:

Identify your niche: Choose a specific type of service that you want to offer, such as social media marketing, web design, or virtual assistance.
Find reliable freelancers/agencies: Utilize Shopify’s integration with platforms like Fiverr and Upwork to find and connect with reliable freelancers or agencies who can provide the services you want to offer.
Set up your store: Start with an online store built on the Shopify platform and tailored to your offerings immediately.
Market and promote: Use social media, collaborations, and other marketing strategies to reach potential clients and increase sales.
Manage projects efficiently: Utilize project management tools to communicate with freelancers, set deadlines, and ensure high-quality services for clients.

Consulting and Coaching Services:

Offering consulting and coaching services is a great way to make money on Shopify, especially if you have expertise in a particular field. This could include business coaching, lifestyle coaching, or even personal branding consulting.

By connecting with services like Zoom, Shopify makes it simple for business owners to provide virtual consultations and coaching to customers worldwide. This allows flexibility and scalability for businesses offering these services.

Market Demand For Consulting and Coaching Services

Consulting and coaching services have seen a rise in popularity as more people and organizations realize the benefits of having an expert guide them toward success. According to Zion Market Research, the global consulting services market is expected to reach $372206.96 million by 2031, exhibiting a CAGR of 3.87%. This presents a great opportunity for entrepreneurs to make money on Shopify by offering their expertise in various fields.

How to Get Started with Consulting and Coaching Services on Shopify

To get started with offering consulting and coaching services on Shopify, follow these steps:

Identify your area of expertise: Determine the service you want to offer based on your skills and knowledge, such as business consulting, wellness coaching, or personal branding.
Define your target audience: You can better serve your customers if you are familiar with their wants and concerns.
Set up your store: Utilize Shopify’s platform to create an online store and showcase your services, pricing, and packages.
Market and promote: Use social media, collaborations, and other marketing strategies to reach potential clients and increase sales.
Conduct virtual sessions: Use platforms like Zoom to conduct virtual consultations and coaching sessions with clients from anywhere.

Shopify App Development:

Shopify’s app store offers many apps that help businesses optimize and enhance their online stores. However, not all entrepreneurs may find the perfect app to suit their needs. This is where Shopify app development comes in.

Those looking to profit from Shopify can do so by creating apps for the Shopify app store and capitalizing on the rising demand for individualized solutions. This also allows them to showcase their technical skills and establish themselves as experts in the e-commerce industry.

Market Demand For Shopify App Development

The demand for customized solutions for online stores is constantly growing, making app development a lucrative opportunity for entrepreneurs. According to Grand View Research, the value of the global mobile application market in 2020 was USD 154.05 billion, and it is expected to grow at a CAGR (compound annual growth rate) of 11.5% from 2021 to 2028. Entrepreneurs have a tremendous opportunity to profit from Shopify by creating apps that meet the unique requirements of businesses.

How to Get Started with Shopify App Development on Shopify

To get started with Shopify app development, follow these steps:

Identify a gap in the market: Analyze the existing apps on the Shopify app store and identify areas where there is a need for customized solutions.
Learn the technical skills: Familiarize yourself with programming languages like HTML, CSS, and JavaScript to develop apps for Shopify.
Utilize Shopify’s resources: Use the documentation and tutorials provided by Shopify to understand the app development process and learn how to integrate your apps with their platform.
Create a developer account: Sign up for a Shopify Partner account and register as an app developer to access tools, support, and beta releases.
Market your apps: Use social media, collaborations, and other marketing strategies to showcase your apps and reach potential clients.

FAQs about Make Money With Shopify

Can you make money with Shopify?

Yes, you absolutely can! Shopify offers a range of opportunities for individuals to make money through their e-commerce platform. Whether through drop servicing, consulting and coaching services, or app development, there are numerous ways to generate income on Shopify.

Is Shopify free to use?

No, Shopify is not entirely free to use. They offer a free trial for 14 days, but after that, the most basic plan will cost you $9 per month. However, considering the features and support provided by Shopify, it is a worthwhile investment for anyone looking to build an online business.

How much money can I make with Shopify?

The money you can make on Shopify depends on various factors, such as your chosen niche, marketing efforts, and target audience. However, with the right strategies and dedication, there is unlimited to how much you can earn on this platform.

How much does an average store make on Shopify?

The average revenue for a Shopify store varies greatly depending on the niche, marketing efforts, and target audience. However, according to Builtwith, the average monthly revenue for a Shopify store is $1,183.

Is Shopify easy to use for novices?

For those with no prior experience in running an online store, Shopify is an excellent option. With easy-to-use tools and resources, anyone can get started with minimal technical knowledge. Additionally, the Shopify community is very supportive and helpful in providing guidance and tips for beginners. So don’t be afraid to take the leap and try making money on Shopify! Good luck!

Start Your Own Business Today At Shopify With Exclusive Prebuilt Stores From Dropship Launchpad

Are you ready to start your own business and make money on Shopify? Dropship Launchpad offers exclusive prebuilt stores that are fully optimized for success on the platform. From niche selection to store setup, we take care of everything so you can focus on making sales and growing your business.

Expertly chosen products, a sleek website design, and proven methods of attracting and retaining clients are all results of the hard work of our staff. With our prebuilt stores, you can start making money on Shopify quickly!

So why wait? Visit Dropship Launchpad today and take the first step towards achieving your entrepreneurial dreams with Shopify!

Conclusion – Make Money with Shopify

Shopify offers many opportunities for entrepreneurs to make money by utilizing their e-commerce platform. Whether through drop servicing, consulting and coaching services, or app development, there are plenty of options for individuals looking to start their businesses and generate income online.

With the constantly growing demand for e-commerce solutions, now is the perfect time to start making money on Shopify. So, choose your niche, utilize Shopify’s resources and support, and market your services effectively to achieve success as an entrepreneur on this platform. Don’t wait any longer – start making money with Shopify today!