Which Is Better Dropshipping Hair Vs. Having Hair On Hand? | Pro And Cons In Business

Hey loves welcome back to my channel, it's lou if you're new, welcome to my channel. If you guys like what you see, which i know you will please make sure you press the subscribe button, that's down below as well as the bell notifications, so you guys are notified every single time that i post a new video. I really need to find a new intro, because the intro would be so freaking long for no reason but um welcome back to another video um. This is gon na be another like. I guess you can say like a business tip type of video, as you guys can see by the title. I'M not sure what i'm gon na, like you know, titled it yet, but it's probably going to be somewhere along those lines going to be kind of like a versus type of videos. Why choose um drop shipping versus having, like you know, hair on hand again? Most of these videos stems from questions that i get from. You know, like my subbies, that comment down below or just people that um message me through my dms and stuff like that, and i really thought this would be a good video to make. But today i kind of just wanted to talk based just a little bit about you, know the difference between drop shipping and also the difference between having hair on hand. Now, on my kind of in right now, i kind of do both so um, but i'm gon na explain to you guys why, if you guys are in like the hair industry, you guys should already know what it means to have like you know, hair on hand And stuff like that, but i kind of just wanted to go um through them and just tell you guys like i guess you could say the pros and the cons of having, like you know, hair hair on hand or just doing the drop shipping method. Now, um hair on hand, you definitely are going to need some capital to buy that inventory so um, depending on how many units, or how many wigs or like bundles and stuff, like that you're going to start off with you're going to need um you're going to Need you know, like inventory up front like you're, going to need the money to purchase the you know large amount of inventory that you are going to you know order so, and the second thing is um. I already kind of touch base on. It is having a large inventory now, if you're, just starting off um. I wouldn't say that for you to like, you know, basically go ahead and just order hella um, a large amount of like you know, inventory and stuff like that. To me: that's not really smart. I mean um to each his own. Someone can just go out there and like purchase a large inventory and they go ahead and sell out like this is very subjective. But me personally, i'm talking about me um. I personally wouldn't go ahead and, like you know, up front order like a large sum of inventory, because you're going to have a large stomach inventory, you know just sitting there, especially if you just are like you know, trying to build out your clientele and stuff like That so the um third thing is, you, don't know what sizes or lengths and stuff that the customers are um looking for, and this is very important because when it does come to having, like you know, hair on hand, you need to buy the inventory and um In this case, if you are producing wigs you're going to need to know what size wigs that you need and how are you going to be able to predict or not even predict how you're going to know a really good rough estimate of how many of what Size for you to get, if you know you don't, if you don't already have like you know, uh a consistent clientele that you're able to like basically like ballpark, okay, i need x amount of small wigs x amount of medium weights and x amount of um large. Wigs not me for me, like i said it's gon na be a little bit different from because i already been in, like you know, the hair um hair industry type for a little a little while now so me. Personally, since i have like a stable type of like you know, customer base i kind of like compete. What type of like you know week? Size sells the most which for me, is mediums um and then it's um smalls and then it's large. But this could very much differ, differ for you, but that's just how minds is also another thing that i would personally do. If i am like you know, um, if you do want to keep hair on hand, um start off. That way, i would say, go ahead and you know: ask your customers, honestly, whatever it is, you're trying to do just go ahead and um. Ask your customers, because they're going to tell you exactly what they are, what they want or what they're looking for so um. Most of the time, i'll probably put a pull on exactly like. You know what size wig caps um, like majority of people, are, and then they go ahead and put their votes and then i'll be able to get like a rough estimate of like you know, um. What size is my like, you know, client base is off and then i'll use that, as like, you know kind of like a chart of how many um waste and what the wig size that i will like personally buy to keep um inventory on hand with, because I know that is going to be the popular, amongst my you know: um followers and customers and stuff like that, and then lastly, is you may not want to you may get into the hair industry excited and stuff like that, and you get into it with a Whole bunch of like a large sum of inventory, and you decide not to do it anymore, like um and you'd, be amazed on how many times that happened like a lot of people. Think, like, oh, my god, they see like the final result of you, know, people that have been you know putting in the work and they see like the flashy things or they see you getting a lot of orders and stuff like that, and they just want to Jump into this you know industry and stuff like that, but what they don't know is like all the um, but they don't want to put any of the hard work behind it. They don't wan na um. I guess you could say stay down until it's their turn. To like you know, um, and you know until this, their their um time or you simply just don't like um, that the hair initially like that, like you thought you did, which is perfectly okay, but you just got ta. Keep that in mind that if you are starting off - and you don't really necessarily know what you're getting yourself into, i wouldn't suggest you go ahead and like start with hair on hand, because you're going to be stuck with the large summer inventory. If you do decide like, oh my god, this is not what i want to do um. So it's going to be a little bit harder for you to, like you know, just let me be like. Let me just go because um, i don't like it anymore, i'll. Just do something else, but you now you got ta got ta, be like stuck with the innocence until you actually sell the inventory that you already purchased and stuff. So just keep so my camera literally just shut off um. They ran out of like space. I had to delete some stuff, so i don't know where the hell i stopped at but um. I think i was finishing up um with the um keeping here on hand and just like you know, just making sure that you know what you're getting yourself into when you do go ahead and actually start your business. And then you get like hella. Like a large sum of inventory, so just keep that on in mind. So now we're gon na get into like the drop shipping, which is the main thing that i actually do now we're gon na get to the drop shipping part which is um. What i mainly do, i'm like i said i do do both but um the drop shipping is what i do. The most um and just to let you guys know like drop. Shipping gets a lot of bad rep um, and it's definitely because a lot of people don't know how to do it. The right way and a lot of it has to do with like the time frame and stuff like that and the person that's doing. The drop shipping is not actually like. You know putting in the right information that they need to put so it can actually be a successful drop shipping um type of business, make sure you just have the right amount of information on there, so it could actually make sense, and so the customer can know Exactly what they're getting their stuff into when it comes to um? You know purchasing, especially with me before i go into like the notes. Um and the bullet points that i do have for drop shipping um a thing that i'll say is when it comes to. Like you know, drop shipping hair, one thing that i really do that you know. I make sure that the customer know exactly what they're getting their stuff into. Is that i make sure that i put the turnaround time to a good amount of time that you know i'll be able to order the hair from the um vendor i'll, be able to get it and then customize it and then ship it to them. In a timely, timely manner, so in the in my product description on my website next to like my units, it does have the time frame on there, so they cannot miss it. Honestly, most customers don't read but majority time they do, but most of them don't read. But i do make sure i put it on there, and i also put that in my policy. Excuse me in my in my policy. So, if anything, though, it kind of tells them that they did read that that you know um before they do check out, they do have to sign that they have read the terms and conditions and stuff like that. In my terms and condition, of course, i do have my time frame and the time frame isn't like too too bad um. I do um make sure that i before i used to do seven to f. I think i do i used to do seven to ten business days, but then i realized that still was a little bit a little bit too close to each other. So i ended up changing it not too long ago, um to 10 to 14 business days, and i mean most of the time. I do ship them out way before then, but it just kind of gives me a little bit more cushioning, especially when it comes to, like you know me getting the product from the vendor. That, literally, is a one that takes the most time, so i want to give it enough time for it to get to me and for me to have enough time for me to sit there and actually customize it and stuff like that. So i said a lot, but the main takeaway you for for this is to make sure that, when it comes to, like you know, if you do want to get go through this route, when it comes to doing, hair is just make sure that you have that Information in there for the customer, so they can know what to expect so they're, not blindsided when they're waiting um like uh two weeks for their unit. So the first thing that i do have for drop shipping is you won't have any upfront type? You don't need. No type of upfront capital - and it basically is what it is like you won't - need no type of money for you to go ahead and purchase a large amount of inventory because with drop shipping, you do not have to keep any type of into inventory, which i Love one you don't have to spend too much money like up front two. You might not have to like waste like um on units or on sizes that people are not gon na buy and two just in case you do are starting your business in like your room, because, most of the time, it's like you know younger the younger girls, Starting um, hair business and stuff like that, if you don't have like the space like because for you to keep inventory you're going to need this space to keep the inventory. So for me, like i, love that, like you, don't have to keep no inventory, you don't need no, like big upfront capital for you to purchase. You know like the units and stuff like that um and then. Secondly, of course you don't need no large inventory, which is awesome like there's no need for you to like. I feel like at one point in time when you have like are a little bit more seasoned in the hair industry and stuff like that, and you do wan na you have the capital to go ahead and invest in your business and keep on hand um, like You know hair or like bundles and stuff like that, of course do that, because i do do that which i'll get into but um for the meantime, just keep that in the back of your mind and then the third thing is you don't have to waste any Like ways, i don't care what you say like i mean um even to this day, like all my ways do not sell out. Once i mean eventually, they do all sell out, but they don't all sell out at once, and that mainly comes into like the wig sizing by you going through the drop shipping um. Like you know, method you won't have to keep guessing sizes, because the customer is going to tell you what size they are um and you, since you don't have to do no large inventory. You won't have to guess on sizes, for you to, like, you know, go ahead and purchase and stuff, so you'll you'll, basically just skip off that wasting like you know, money on certain. You know wig sizes that are not going to sell and then lastly um what i was mentioning in the on hand. One was that if you do plan on, if you don't actually like the hair industry, if you just got in it just to fill it out and you don't like it, then clearly you can go ahead and just move on. Like i said in the on hand, one it's gon na be a little bit harder for you to move on. If you don't like it, because if you ordered like a heart, a large sum of inventory, you're gon na kind of like i mean, i would think that you would sit there having to sell it first before you move on, because i mean it all depends on How much inventory you do purchase, but if you did start off with the drop shipping um way, then of course you won't have any um. You won't have any type of inventory like you know with you. So if you don't like it, you can easily. Just you know, go ahead and pick up and go so that definitely is a plus like i said this is very um. This can definitely differ from person to person. You can honestly do um on hand method and you can do the drop shipping. It really just depends on you and what type of like you know, business model you want to like you know, go into like i said me, i personally do both and i didn't even i didn't start doing both until like not too long ago, because when i Did start off, i did start off with the drop shipping method like i did not have any inventory left on hand um and now i kind of did start keeping some um some on hand, and it's still a little bit different on how i do keep um Units on hand, because after every two or three months i do do a big week restock where i do purchase a large sum of you know inventory about 30 to 40 wigs. I order about 30 to 40 weeks and then i go ahead and i customize them and then i put them on the site and then you know people go ahead and purchase them and stuff like that. So it's um and it is most of the time. It'S always like units that people have been asking me for or um it's for, like a holiday and stuff like that. So i don't just randomly keep it like. You know on hand and um. I kind of just started doing it that way, because i didn't realize that a lot of people do like well. Many people do like having units like on hand and stuff like that, especially if they have like special occasions and stuff like that. But i only just started doing it because one it's kind of like in a way of investing back in in my business, because i'm taking the money that i've already made like profit-wise and stuff like that, and i'm just going to go ahead and just invest. It back in the business just to you know, curate more money if that makes sense so um. I know this. Video was a little bit all over the place and i kept like you know. I don't know i'm pretty sure that i forgot something in this video, because i'm always forgetting something um. Let me know in the comments down below, if you guys have any questions about anything that i said. Let me know if you guys have any questions in the comments and we can go ahead and chat it up, and i can answer your questions um. I hope you guys enjoyed this video. Please make sure you guys like comment and subscribe and i'll see you guys in my next one bye. You