Are you searching for how you can begin a dropshipping business, just like any kind of business area, just know that it is not as easy as you think? but regardless, advancing into that path is indeed a great first step into the heart of entrepreneurship. With drop shipping, you can be able to sell to customers without the need for holding any inventory. Moreover, you don’t need to make payments for products upfront. when you are extra serious about the new venture, you have higher grounds to build a sustainable well of earning in the long run.
so, are you currently considering venturing into dropshipping, please make sure to abide by the following business and financial steps given in this content as it contains the full dropshipping tutorial.
How Difficult is it to begin and excel in a dropshipping business?
kick-starting a dropshipping business will definitely require to have enough patients as it is highly competitive for a beginner to manage. and based on the fact that you can begin your own dropshipping business with no capital, free of charge, you may likely encounter a lot of business owners who are selling a particular product like yours at less prices or the same price range.
How is Drop-Shipping Done ?
The process flow of dropshipping is moderately simple , below are the usual routine of a drop shipper;
- Step 1 : Customer will need to first places an order, you can make the order through an online store.
- Step 2 : your store will then send the ordered product to your dropshipping supplier
- Step 3 : your dropshipping supplier gets the customers order prepared in time.
- Step 4: The Dropshipping supplier will then ship the order directly to the customer who is in need of the services.
Why Dropshipping Business is Advantaged over Physical Shopping?
- You will have no need to worry about getting a physical stock of the products that you wish to sell before you can drop-ship something to your buyers.
- In dropshipping, a supplier is saddled with the responsibilities of selling the products in his own stores and he or she will take care of the shipping process or the supplying process to the customers in your while you earn from home.
- Your Customers don’t need to know you, they won’t even know you are the middle man
- It is very much quicker and easier to begin a dropshipping business than a regular physical business which requires structures and manpower.
- Better opportunities to make good passive income
- You can begin by working from home.
- It is very easy to scale up especially when your customer base increased.
Dropshipping Niches Ideas To Venture into
Here is a list of the lucrative & trending businesses you can start online at the moment through your drop-shipping business;
- Men’s Clothing and Fashion Accessories Dropshipping
- Niche for Women’s Fashion and Accessories Dropshipping
- Dropshipping Niches for Health & Wellness
- Dropshipping Niches for Kids & Babies
- Dropshipping Niches for Home & Kitchen
- Dropshipping Niches for Phone Accessories
- Dropshipping Niches for Home and Pets
- Dropshipping Niches for Cars and Motorbikes
- Dropshipping Niche for Electronics
- Dropshipping Niches for Hair Extensions and Wigs
How to Start A dropshipping business
1. First Decide what you want to sell
What type of products are in demand at the moment? What kinds of needs are highly recommended at the global market? This question and more queries will be be able to influence your choice on the niche you wish to carve out to start your dropshipping business. You may choose to go into Dropshipping Niches for Health & Wellness , Dropshipping Niches for Kids & Babies, Dropshipping Niches for Home & Kitchen , Dropshipping Niches for Phone Accessories , Dropshipping Niches for Home and Pets or even a Dropshipping Niches for Cars and Motorbikes, to mention but a few. Customer will need to first places an order, you can make the order through an online store, your store will then sends the ordered product to your dropshipping supplier, your dropshipping supplier gets the customers order prepared in time and the Dropshipping supplier will then ship the order directly to the customer who is in need of the services.
2. Find your supplier/distributor
This is a very crucial step. Get a supplier who will be ready to give you the opportunity to serve as an intermediary person existing between him or her and the customers. Also check if the supplier will be ready to take care of the logistics of the product delivery.
3. Build a website to boost your sales
If you can be able to create a website yourself, that’s cool! If not, you can pay someone to get this done for you. Purchase a domain name, then host your site . You can create Simple websites with sites like WordPress. On the other hand, you can market your products through different social media platforms which includes Instagram, Facebook and WhatsApp for business. A business account will be needed when you want your dropshipping business to be financially stable. You may be able to place restrictions on your business account to let you observe a good finance management measure.
4. Invest into marketing
Marketing methods will depend mostly on your choice and what you want. Nowadays, this method is now digital. Asides having a website, you should make plans of building your online presence through different famous social media platforms like Facebook, LinkedIn, Twitter to mention but a few. You can also utilize popular e-commerce platforms such as Jumia, Konga And so on to host your products.
5. Keep a sound financial record
Even though dropshipping can earn you a very lucrative amount of money, it is vital that you keep a good account of this money. Put away your personal finances from your business account records and then make sure that all details are well documented.
What you Need to Begin a Dopshipping Business?
- You need a good business idea : Preparing a good business idea in hand before starting a business is very . This step is necessary to beginning a successful and lucrative dropshipping business. First yourself, the product you want to sell? Then you can choose a suitable niche for yourself and look for the perfect category of products you wish to sell
- Get a good supplier: Find a supplier who will be ready to give you the opportunity to serve as an intermediary person existing between him or her and the customers. Also examine if the supplier will be ready to take care of the logistics of the product delivery.
- Begin your online store creation: you can market your products via your business website, different social media platforms which includes Instagram, Facebook and WhatsApp for business.
- Create a business account: A business account will be useful when you want your dropshipping business to be financially stable /capable. You may be able to place restrictions on your business account to let you observe a good finance management measure.
Despite the fact that in dropshipping business, you will be making use of very little starting capital to begin the business and you will be able to make cool profit no matter the money you sell. The profit that you will make will rely on how many products you are able to sell and the level of your profit management. Dropshipping is a better business option to earn big, In drop-shipping, a supplier is saddled with the role of selling the products in his own stores and he or she will take care of the shipping process or the supplying process to the customers in your while you earn from home. So you get to earn passively!
Frequently Asked Questions
Can I start dropshipping on my own?
It is very much quicker and easier to begin a dropshipping business than a regular physical business which requires structures and manpower.
How much profit do you make dropshipping?
The average profit margin for a dropshipping business varies based on your niche and can range between 15-20%,
How to Start Dropshipping Business in 2023 – A Comprehensive Guide