Your guide to making money online with dropshipping Your guide to making money online with dropshipping: Suppose you are an entrepreneur and want to
Your guide to making money online with dropshipping
Your guide to making money online with dropshipping: Suppose you are an entrepreneur and want to open an ecommerce business, but you don’t have much capital to buy inventory or rent a warehouse. Again you may not even be sure what to sell or how to go about it. That’s where drop shipping comes in. You can sell products without hands. All you need is an online store, marketing skills and start your business.
Dropshipping offers a convenient way to make money online. All you have to do is find out what you want to sell from a potential dropshipping supplier, then list the products on their website at the prices you set. When a customer orders a product, you send the order to the supplier’s website who processes it and ships it directly to the customer on your behalf.
The supplier should be a wholesaler so that you can make a profit. For example, if they sell a certain product for $10, you can price it on your website for $20. If you order, you make a profit of $10.
Why wouldn’t the customer order directly from the supplier’s website?
The internet is huge, and the customer doesn’t know the supplier to order directly from them. Also, dropshipping suppliers do not sell to the general public.
Second, business is not just about selling products. This is how you interact with and serve customers. Dropshipping is all about marketing your online store, saying the right things to potential customers, and providing great customer service. Since you’re not dealing with warehousing and inventory, it becomes easier to provide real value to your customers.
Simple steps to start a dropshipping business
Choose a specific location
Considering the competition in the market, choose a niche where you have special knowledge or interest in products. Find a niche in the business market and focus on solving that problem. And then, make sure that the exclusive seller is making at least 40% profit after paying the fees, shipping charges and taxes. An ideal location is not dominated by major brands and is not seasonal. Then research your competitors to determine your competitive advantage.
Find a dropshipping supplier.
Finding a drop shipper can be the most challenging part of the process, although there are thousands of them on the market. You need to find a reputable supplier that ships products quickly, doesn’t charge a hefty drop ship per order fee, has quality products and vast experience. Choose a drop shipper you can trust.
Choose a sales platform.
After selecting the products and suppliers, the next task is to set up an online store to sell and start making money online. You can sell in an established marketplace or start your own independent online store from scratch. Many entrepreneurs prefer established platforms like Amazon because people trust such platforms and attract a lot of traffic. But you will be in competition with other sellers on the platform and you may be charged for every sale you make. When you create your own store, you have complete control over branding, web design, no fees, and no direct competition.