Dropshipping has recently become the most used form of e-Commerce with a majority of people opting out the traditional forms of doing business for dropshipping.
The concept of dropshipping is one that enables you to conduct business without having to hold inventory. The business involves the purchase of goods from a third party who then ships the goods directly to the customer.
Dropshipping is an order fulfillment business model that involves three key players the manufacturer, the retailer, and the customer. With the world progressively shifting focus to the online platforms, dropshipping offers an easy and convenient way to start and run a supply business.
Benefits of Dropshipping
Everybody you know has at one point or another bought goods or transacted business online, this is probably why the e-commerce sector is one of the fastest-growing industries in the world.
As the internet connectivity around the world increases and more people are having access to smartphones, buying goods and transacting businesses online has become an easy and convenient thing to do.
Gone are the days where people had to work into a store to buy products or travel across countries to search for the stock for their businesses, as the world progresses we should also expect better and improved models of online business.
Dropshipping is a business model that has a variety of advantages which include:
- Dropshipping is a business that does not need you to hold inventory and this minimizes start-up costs as your business is less susceptible to losses that may be incurred due to holding an inventory, the losses can be brought about by changing trends.
- Dropshipping reduces the hassle for having to package products and ship them as the work is already done for you.
- Dropshipping offers the flexibility of doing business as you can conduct business from anywhere and have customers from all around the world.
- Dropshipping also offers a wider product selection as you can sell a variety of products online without having to hold inventory.
How to Start a Dropshipping Business with No Money?
Most people have an idea about the whole concept of dropshipping and the question on most people’s minds is how much it costs to start a dropshipping business. Though you do not need a huge amount of capital to start dropshipping, you do need to have some money for an initial investment.
Like any other business dropshipping needs you to be committed and research on the best way to conduct your business. Some of the steps outlined to starting your dropshipping business with no money include:
Identify Your Niche
Identifying a niche of products that you intend to sell is an important part of the dropshipping business. This will help you identify a product from a wide selection of choices and to do this you will need to research the product to find which is the most viable to enable you to make profits.
Finding a product that you are passionate about is the first step of choosing a product among a wide selection of products this will also enable you to know about the product and how to market it to your potential clients.
One of the ways you can use to find a niche product is by identifying the bestsellers on different e-commerce platforms such as Amazon.
Create an Online Store
Having an online store is the basic requirement for any dropshipping business. After you have identified a product, you need a place where the customer will have access to the products you are offering.
For a beginner, all you need to do is sign up as a seller on any of the available e-commerce platforms such as Amazon, Shopify, or eBay among many others.
Most of these platforms allow you to start up for free by the time you start on the monthly payments your business will have already made some profit which you can use to pay for the subscriptions.
Some sites like Shopify or woo-commerce are recommended If you do not want to spend any money starting a store because unlike the rest, you do not need to include your card details to start your free trial and in case you do not make any sales, you may opt-out of the site.
Find a Supplier
The whole dropshipping business model is based on the supplier, this fact makes finding a supplier the most critical part of the business as they are responsible for the smooth running of your business operation.
As we have found out, the supplier who can be the manufacturer or the wholesaler ensures that the product is available for shipping. Finding a supplier involves conducting thorough research to find the best fir for your business. The supplier should be well trusted and have quality products that should be delivered at the specified time.
To be able to find a reliable supplier, you can browse through the numerous online directories of wholesalers, and once you have identified one that you can work with interact with them and know how they do their business. Ensure you also read on the reviews to get the account of previous buyers.
Invest Your Time in the Business
The dropshipping business is one that needs you to be in constant communication with either the customer or the supplier depending on the stage of operation the product is in.
As opposed to investing so much money you may only need to invest your time to grow your business. This will enable you to know about how to successfully operate the business and help you know your customers so that you will be able to make the best decisions.
Investing your time will also allow you to make decisions that are critical for the success of the business by helping you to develop the best skills that will make you better as an entrepreneur.
Market Your Business
Marketing often serves as the icing on the dropshipping cake. To get more customers you will need to identify a marketing strategy that will allow you to reach a wide range of people.
When starting, social media should be your first choice to market your business, first setting up a social media account is free and as long as you choose to market your product on your own, you may not have to spend a single penny on marketing. If you want to go all out you can opt to use affiliate marketing options to get your business out.
5 Best Dropshipping Websites
As we have discovered, finding suppliers are the backbone of dropshipping business, and therefore finding a good supplier is paramount to the success of your business. Below are some of the best suppliers you can find for your business:
Nihaojewelry is a top supplier for fashion jewelry and accessories along with a selection of women’s clothes handbags and shoes among other products.
Nihaojewelry offers the best quality products at affordable prices to enable you to start up your business and make profits. Nihaojewelry offers the best dropshipping services by allowing you access to an updated website of products which you can easily get access to the market.
The company will also provide you with quality products that will be delivered on time to allow you to run your business efficiently. Their helpful customer care representatives will also ensure that all your concerns have been adequately addressed.
Oberlo allows you to find a variety of products to sell online by facilitating easy access to products from a variety of suppliers. The company ensures that your products will be packaged and shipped to your customers hassle-free. Oberlo links businesses to the Shopify stores where customers can find and purchase products.
Salehoo offers a variety of suppliers and products at affordable prices to help you start your business. The platform provides efficient customer care services to help you along the dropshipping process.
Mega goods inc. provides a wide range of high in demand items to enable you to efficiently run your business. The company specializes in dropshipping services and provides fast and efficient processing of items and reliable service to help you conduct your business.
The site offers a variety of products to dropship and links you to a range of suppliers. The site also allows you to download images to use for your store and offers the option of free registration and automated drop ship solutions.
Dropshipping offers an easy and efficient way to start an online business. Once you have identified a niche all you need to do is to find the best supplier to work with and ensure that the products you supply will be of good quality.
Dropshipping allows you to have easy access to a wide market range and enables you to conduct your business from any place. If you are looking for a business that is hassle-free and that requires minimum capital, dropshipping is the way to go.