What to Sell on LuckScout Marketplace

Vahid Chaychi

3 years ago

As you are aware, it is now possible to sell products and services on LuckScout Marketplace. To learn more about this new service, please read this post: Earn Money As a LuckScout Vendor

In this article, I will provide you with some updates and clarify a few important points:

1. LuckScout Marketplace now supports multiple currencies. The default currency is Canadian dollars. However, customers will have the option to make their payments in US dollars, British pounds, Euros, and Australian dollars as well. If they choose to do so, the system will automatically convert the amounts based on the current exchange rates.

As a result, our vendors must specify their products’ and shipping prices in Canadian dollars when submitting their products to their LuckScout store. However, the system will recommend the appropriate currency to customers based on their location. For example, if someone wants to place an order from the United States, the system will suggest US dollars for making the payment, allowing the buyer to pay in US dollars if they prefer.

Having the default currency in Canadian dollars may appear a bit confusing to our vendors. However, it is straightforward to handle. For instance, if the price of a product is $100 US dollars, the vendor needs to convert it into Canadian dollars when submitting the product for our approval. To make this conversion correctly, you can simply refer to Google and search for “100 USD to CAD,” and you will see that it currently is $136.92 CAD. Therefore, you should enter $136.92 as the price for your product. By doing this, when someone from the United States wants to purchase the product, our system will convert $136.92 CAD into USD for them, using the current and accurate exchange rate. As a result, the customer will have the option to make their payment in USD. Similarly, if someone from the UK, the European Union, or Australia wishes to buy the product, the system will convert the base price of $136.92 CAD into British Pounds (£), Euros (€), and Australian Dollars, respectively.

For customers from other countries, they will also have the option to make their payment in any of these four currencies. We are capable of supporting additional currencies if necessary. Our vendors can request us to support the currency they prefer, and we will accommodate their request 🙂

2. Some of our members have already tried dropshipping. I have previously published an article about dropshipping and explained the conditions under which it can be profitable for you. If you’re unfamiliar with what dropshipping is, please read this article: Does Dropshipping Make Money?

If you have an account with dropshipping companies, you can create a store on LuckScout and list their products on your LuckScout store(s). However, it is recommended that you conduct your analysis to ensure whether or not you will be profitable. What is crucial for us is that customers receive their orders properly, and this responsibility falls on the dropshipping companies when you generate orders for them. To ensure the safety of customers, we must wait for them to receive their orders, and then we will release payments to our vendors.

As I have explained in my dropshipping article, many of those who join dropshipping companies won’t make money. I have detailed the reasons for this in that article. My recommendation is that you either sell your own products and services (which is not that difficult, and we will learn how to develop your own products and services), or even if you sell others’ products and services, two key factors make you profitable: 1. You should be able to purchase them at a low price, and 2. You should either be the sole buyer and seller of those products, or if you are not the only one, there shouldn’t be too much competition, and the competition should be minimal.

In my last article, I explained that I know someone who makes about $80,000 per year by buying secondhand and old violins from antique malls and selling them online. Not only does he not build those violins, but he is also not dependent on dropshipping companies looking to profit from your time and efforts. Furthermore, he faces minimal competition because there aren’t many people selling secondhand or antique violins. Think you can’t do it? You’re wrong! Anyone can. To demonstrate how it works, I will start my own auctions with items you can’t even imagine, and you will see that people will buy them, and I will make a profit as well. I won’t sell common items like water bottles, which millions of others are already selling on Amazon and other platform. Instead, I will offer unique items. You will learn how to do it. You are in the right place at the right time to Become an Independent Self-Sufficient Wealth-Builder. At LuckScout, the sky’s the limit for those who want to make a difference.

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