How To Make Extra Income On Facebook Marketplace
Facebook Marketplace offers a world of opportunity to bring another income stream into your family or business. Often, unlocking additional income streams is all you need to experience freedom to fulfill the dreams in your hearts. If you’ve been looking for a financial breakthrough, you’re in the right place!
The Rainmaker Family has now helped over 12,000 parents create passive income streams to create income without sacrificing precious family time. Today, we’ll be discussing how dropshipping can be used on Facebook Marketplace to provide another income stream for you and your family.
What Is Dropshipping?
In the simplest terms, dropshipping is a retail fulfillment method where a store doesn’t keep the products it sells in stock. Instead, when a store sells a product using the dropshipping model, it purchases the item from a third party and has it shipped directly to the customer. As a result, the seller doesn’t have to handle the product directly. This methodology allows successful transactions without the seller having to handle the product or store it.
What You Need To Dropship Successfully
To successfully dropship on Facebook Marketplace, the first thing you need is a Facebook account. You also need a supplier account where you’re going to buy product from, like an Amazon account. You’ll also need a debit or credit card, a social security number, and a bank account. If you’re outside the USA, you’ll have to jump through a couple more hoops, but it’s totally worth it! Melissa, who created that guide for international sellers, started dropshipping from Honduras and it doubled her income!
Finding Products to Dropship
Products that sell well on Facebook Marketplace can include items related to home decor, outdoor gardening, party supplies, and much more. Relevant seasonal items are also good sellers. To find great products, you can filter your Amazon or other supplier search results by review quality and price. Products with lots of reviews and good photos are good candidates for listing on Facebook Marketplace.
Creating a Listing
When you enter Facebook Marketplace, Facebook makes it really easy to create a product listing. Great listings have attractive titles and images. The title is where you attract your buyer through using the right keywords. The Facebook algorithm decides whether you get to be shown or not, so you need to use specific keywords interested buyers might be searching to get the algorithm to favor your listing.
Your listing also needs images. For your main image, lifestyle photos that look almost, but not 100% professional are better than product photos with a white background. While Amazon wants the images with a white background, Facebook Marketplace prefers a lifestyle photo. You can often find these in the user generated reviews section of Amazon items.
When you list on Facebook Marketplace, you get to set your price and profit margin. It’s a good idea to avoid price wars and keep your prices competitive. Even prices that are slightly higher than what others are selling the product for can be competitive if the listing is strong. On average, most Rainmaker families using this method are making about $10-20/sale. This means you’ll list the product on FBMP for about $10-20 higher than it’s listed for on Amazon.
You will also need to list a category, condition of the product, and product description, as well as other information about the product like the SKU. Once you’ve written a good listing, you will then need to set up your shipping options. Facebook Marketplace makes this all very easy!
Make An Offer and Listing Locations
Facebook Marketplace gives you choices to allow offers. Some sellers don’t allow offers on their products to minimize the interruptions you have during the day. But if you are open to offers, especially if you are testing high listing prices, you can set a minimum price for offers.
Facebook Marketplace also gives you options for making your listing visible. Some sellers choose to hide their listings from friends to keep their business life separate from their social life. If you don’t hide your listings from friends, you can also choose to list in more places like the groups that you are in.
Most dropshippers would agree that they don’t list in groups. When you list in groups, you have to monitor and manage the responses that you get from groups. However, if you’re selling a product that’s specific to a group, publishing to a group might be beneficial to get the initial algorithm spike. If you’re selling a product related to animals, it might make sense to list it in an animal group. Experiment— if you haven’t tried it, try it out!
Once you’ve made a sale, it’s time to order the product from your supplier (Amazon) and send it to your customer. Facebook Marketplace will provide their address. Be sure not to use Amazon Prime as that’s against Amazon’s TOS to use Prime for someone other than yourself. Once your product is ordered, you can mark your product as shipped on Facebook. Congratulations! You’ve made your first sale using dropshipping.
One tip we’ve seen work time and time again is give yourself a challenge to list ten products per day on Facebook Marketplace. If you do this consistently, it’s only a matter of time until your Facebook side hustle takes off. Oftentimes one product will take off and you can sell the same product over and over hundreds of times all around the nation. So far, the record in our Rainmaker community is $140,000 in revenue generated using this Facebook Marketplace dropshipping method, let’s see if you can be next!
If Facebook Marketplace is an income stream you want to pursue, we hear you! Whether you’re a pro who’s already taken the Rainmaker Challenge, or totally new to the dropshipping scene, we know you’ll benefit from learning more about how to earn passive income from Facebook Marketplace with our Make It Rain Masterclass. Inside that detailed masterclass, one of our top FBMP trainers will take you through each detail, step by step, from product selection to customer service.
For more tips on building your business through methods of passive income, join The Rainmaker Challenge with our free guide! Quit sacrificing your valuable family time.
Let’s make it rain!