If you want to become an entrepreneur but do not possess enough capital to invest, dropshipping is a great way to start with. It gives you the flexibility to choose your product line, product pricing and marketing your brand. Sounds Amazing? The best part is, you don’t even need to pay for the inventory until it is sold! Dropshipping is a sales model where you sell off the products by putting them on your website from different manufacturers. The suppliers directly ship the products to the customers and do not involve inventory, staffing, or warehouse costs.
The process of starting a dropshipping business is somewhat similar to any sales enterprise. All you need is to find a marketable concept, sales channel, a reliable marketing plan and source of goods. So, here are the five simple steps to start a dropshipping business:
• A marketable Dropshipping concept to begin with
A ‘concept’ is a vital aspect for any dropshipping business around which the product collection, brand and other relevant aspects revolve. It could be based on the trending sales or something which entrepreneur is passionate or confident about. You can choose niche marketing where your business would cater specific genre of buyers. As the focus of your website shall be narrow, it will help it to be listed higher among the specific searches by the interested audience. However, starting up with a general dropping store helps you to understand the trends of the market well. It is a diversified approach over a niche strategy.
To make niche marketing work, you need to undertake extensive product research to understand which is the best selling in the market. You can refer bestseller categories listed on Amazon to understand what customers are looking for? The search engine keyword research also helps in finding profitable products which are driving organic traffic.
• Find out reliable dropshipping suppliers
Finding reliable dropshipping suppliers is as crucial as developing the concept. No matter how much brilliant your idea is unless you have reliable suppliers, it will not yield expected profits. Dropship market places and direct-source suppliers are the two types of suppliers available.
Dropship market places are the easiest way to start with, for the new suppliers. The entire drop ship process is automated at these marketplaces. All the ECommerce platforms are directly integrated to ensure:
• At just single click, all the required products are quickly added for sale
• All the available stock is listed to avoid any back orders and other customer service issues
• Shifting order to the suppliers automatically
• Updating customers by automated shipping confirmations
• Paying wholesale cost once the product is shipped and the customer already paid for it
• Building a dropshipping website
To execute your dropshipping business idea, you need a website, which further requires an eCommerce platform. Choosing the right platform depends on your dropship supplier plan and your dropshipping business concept. For product-based business concepts, platforms like Shopify are highly recommended. For content-based business, WordPress websites are better platforms to work with.
To list your website higher in the searches, content marketing plays a vital role. Blog posts such as product reviews, how-to and other types of blog posts helps in targeting the customers who are precisely interested in your business and looking for some solutions.
• Add all the dropship products to your website
Once you set up your website, start adding the relevant products to your website. Depending on the niche you choose, you can add related products. Shopify websites are simple to begin with. It also offers supplier marketplaces with easier integrations.
• Manage your dropshipping business with its marketing
Once your website is ready with product listings, It is crucial to market it well to attract the customers. You can start with the low-cost marketing tools like email marketing, social media and SEO tactics to spread a word about your business.
If you are seeking a low-risk and low-cost eCommerce business, dropshipping is the best way to start with. A dropshopping business is a gateway to success if you can work on a brilliant concept with successful execution.