One of the biggest obstacles that stop people from pursuing their business dreams id the cost of starting a business. You need some initial investments in order to buy inventory, rent out space for your inventory, buy supplies, marketing budget…etc.
But it is now longer the case nowadays. Do you know that you can run a successful online business without carrying any inventory?
It’s called dropship.
How does it work?
A dropshipped business is a type of ecommerce business where you take orders from customers but your supplier or distributor is responsible for shipping the product to the customer.
A dropshipped business is a type of e-commerce business where the owner of the business takes orders from customers but the distributor or supplier is responsible for shipping the product to the customer.
- A customer enters to your website and places an order
- You receive the payment from the customer and place an order with your supplier
- The supplier ship out the product to the end customer with all your details so it looks like it is coming from you.
Sourcing your products
The first thing you need to think about is an idea of what you want to sell. What was the last thing you or your cousin bought online? You can also check out best seller categories in online marketplaces.
After you have defined your product, the next step is to find a supplier, and not any supplier you will need to look for those that do dropship. An easy way to look for suppliers is by doing a search on google. Search for your products and include keywords such as “wholesalers”, “distributors”, “dropship” or “suppliers”.
Systematize your business
Dropship will save you a lot of time and hassle because you don’t need to do any packing or fulfilling of the orders. You can take it as an advantage and run a completely systematic online business. The only thing you will need is an e-commerce website with shopping cart that do all the work for you. Therefore, you will have only to focus more on getting traffic your online store.
How much does it cost to start a dropship business?
You may be asked for a membership fee by some suppliers to become their dropship agent. However, it is not a big amount of money to be paid and it is also a one-time fee. Dropshipping doesn’t require you to carry any inventory and you will receive payment from your customer then only purchase from your supplier. Therefore, there is no initial investment for inventory.
You may also think that having a website for your business is expensive. Well, back then it was. You would spend over thousands of dollars to hire people to build a website for you. With today’s technology, not only is it more affordable but you can also do it yourself.
Dropship is a great business model for those that are just starting out on online business. You don’t need a big investment to start, save a lot of time and less manual work. Incorporate an affordable and easy-to-use online store solution with your dropship business and you get a professional and systematic business.
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