You might have heard the term ‘dropshipping ‘ if you have been doing online shopping. It has been proven as a quite effective way to make small entrepreneurs getting a good profit.
What is dropshipping?
Drop shipping is a method used by sellers where they forward the purchase to a third-party and have it sent to customers directly. They do not have to keep the product in their warehouse, but they take a profit out of it. Sounds interesting enough, right? But how and where to start? Worry not, we will guide you through the simple ways to start.
1. Start by Finding Your Niche
The best dropshipping niche would have low to medium competition and high demand. You do not want to compete with millions of other sellers and drown in it. So back to the basic, endless research will help you through this stage. You will be spending a lot of time in this stage and doing a lot of thinking. Remember to consider the location of your reach and ask yourself:
Those are the very fundamental questions you would be asking yourself. Don’t choose products that you necessarily love or dream to sell. Choose products that have a high demand and can sell fast with good margins and low competition.
2. Find Reliable Suppliers
Research, again. Many people think drop-shipping comes with less risk, but the truth is: risk is still a risk. If you choose the wrong suppliers, you are in the mud. Contact as many suppliers as possible to have a conversation with them regarding products that you would like to resell. Once you have chosen a few to do business with, then try to order some sample from them. Get to know their product quality, time of delivery, packaging they use, customer service, etc. If possible, try to order some product from competitors too, so you know what their unique selling point.
3. Choose the Right Platform and Build Yourself a Website
If you are not a tech savvy person build your website using platforms that allows you to drag and drop and connect easily or plugins, as a newbie you can try Shopify or Wix and for more advance user you can try platforms like Woo-commerce, Big Commerce or Open Cart and start with a template. There are many other options out there, do your research and see which suits you best. To make sure you will go all the way and be successful, list down a plan with tasks for this project and work towards them daily.
4. Boost out in Social Media
You have done your website, you found the right products and posted them nicely in your eCommerce. All you have to do now is to bring traffic and convert them in customers. Social Media is a place where you can boost out about your products and create awareness. Set up small campaigns with a minimum budget on Facebook or Instagram and test your marketing skills. Make sure you track all your metrics and pay attention on how to improve your sales and increase your margins.