Hustle Ideas

How to Start a Dropshipping Business in 4 Steps

Knowing how to start a dropshipping business can empower a person as well those around him. This is because drop-shipping harnesses the power of the internet to create demand for products, thus creating wealth.

Drop-shipping is a business model that has become wildly popular, especially among the younger generation. But this is not an entirely new way of making money; people have partnered with companies to sell products and services for a long time.

In order to get paint a clear picture, one that every reader will understand, we have to start from the very beginning. So that there is no confusion, let us start by explaining what drop-shipping is all about.  

What is Dropshipping?

Drop-shipping is a business model in which a retailer operates an e-shop, but never handles or stocks the goods he sells. The dropshipper sets the prices of the goods, convinces the buyers, but the actual selling takes place directly by the supplier or manufacturer. Still this business model can be very profitable.

Because you do not spend any money on a storage facility, and also because you do not spend any money on shipping the product, you are only interested in making money; profits are the only concern of the drop-shipper.  You don’t have to spend any money; you just need to advertise the products on your website, or on social media. You can mark up the prices as high as 100%, and so make huge profits every single day. This is a relatively easy way of doing business; if you start now, you can even make your first sale in a matter of hours.

How to Start a Dropshipping Business: 4 Easy Steps

1. Plan Your Dropshipping Business

Planning is the key to success in any business venture, and drop-shipping is no different. In fact, when you start a dropshipping business without planning, the results are usually disastrous. When you decide to become a drop-shipper planning helps you decide your niche; it helps you decide on what kind of products you will be dealing on.

Drop shipping requires you to know your audience; you need to know those who are likely to lay eyes on the products you are selling, and know the kind of products that will appeal to them. Drop-shipping is very good for personal items like clothing, shoes, watches, mobile phones, computers and so on.

Please do not waste your time promoting items that are cheap, and that offer low profits; people can buy clothes and shoes anywhere, but they are attracted to your items because they like what they see, they must expect they are buying high quality items that possibly come from abroad. They will certainly not mind paying a little extra for the high quality they hope to get.

2. Secure A Dropshipping Supplier

The next thing to do when starting a dropshipping business is to get a good supplier. A good way to do this is to type ‘register as a drop shipper’ on your favorite search engine. This will bring up results that are suppliers you can work with. Please do not rush this; read carefully the terms and conditions of each of the suppliers you find, so that you can select the best deal.

We do not want to mention any names there are several companies available, and besides, there is no obligation to work exclusively with any supplier, if you find that you are not satisfied with the performance of any supplier, you can simply abandon them, and concentrate on those that offer better terms.

A good supplier can mean the difference between succeeding or failing at this business. So you have to choose carefully.

You can check out:

Thieve

AliExpress

SaleHoo

Wholesale Central

Sunrise Wholesale

Square Online

3. Build Your Dropshipping Website

First, let us mention that some drop shippers do fine without having any websites: many of them just post the pictures of the products they are selling; they post them on their social media accounts: facebook, twitter, instagram and so on. They then convince buyers to buy at marked up prices, and then pass on the orders manually to the suppliers who ship the products to the buyers.

However, when starting a dropshipping business, an ecommerce website gives you certain advantages: for one thing people will be forced to take you more seriously. Then you can stock a greater range of products, sell more, and even when a prospective customer comes to buy one product he will have to choice but to see other related products on your website, which will invariably lead to more sales.

The best part is that you don’t even have to spend any money, or have a background in tech to operate an e commerce website. Again, we will decline to mention any names; to find a good e-commerce website all you have to do is type ‘e commerce website for drop shipping’ on your favorite search engine. Please read through the services they offer, and then make a decision.

You can try the following personal dropshipping e-commerce websites:

ecwid

woocommerce

shopify

4. Start Getting Customers

The 4th step towards starting a dropshipping business is getting customers because that is where the money comes from. You can have a great website, and have great products offered to you by your supplier, but you will not make a dime unless you have customers paying you money.

The easy way to go, as we have mentioned before is posting on your social media handles. There is no particular social media platform that is better than any other; you just have to decide which one you have more people (family, friends and acquaintances). When you post a product, you can then ask them to re-share the post, so that more people see it. In fact, harnessing your social media clout is the best way to start drop-shipping.

One most viable ways of doing this is by subscribing to the ad services of the social media platforms directly. You can use twitter ads, facebook ads, or instagram. You can even pay money to big accounts on any of these platforms to advertise your products; sometimes their rates are cheaper, and their reach is very good.

 Conclusion:

If you have some knowledge about how affiliate marketing works, then you should find that you can start a Drop-shipping business as easy as ABC. However, those who are new to e commerce can follow the simple steps outlined in this article, and meet with guaranteed success (if they are consistent).

But starting a business is the easy part; the important thing is continuing, and being successful in the business you have decided to pursue.

To be successful you need to track each sale that you make; you need to monitor what particular products are selling better than others. You also need to know exactly at what times the products are selling. Time, seasons, day, night, weekend, and place of advertising… all these are important details that you want to keep records of.

That way you will leave nothing to chance; but time your promotional efforts at the times when they will have the most impact, thus maximizing your efforts and growing your business.

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