We remind Corona Pandemic as a bane for the people of the whole world, but the case is different for some businesses. Yes, for example, during this time e-Commerce has been boosted like ever before.
It is not wrong to say that the year 2020 had proven itself as a boon for the online shopping industry. The reason behind it is the simple fact that people of all ages need to adopt a digitalized life. We all enjoy the convenience and security of being in our home not only for work, but even for study, communication, and shopping purpose.
Hence, there is a high demand for certain products like home furnishing, apparel, and grocery items. This new-normal change in consumer behavior is still in a stronger demand even post-pandemic. The growth of e-commerce stores will grow further all over the world.
As per Statista, e-commerce stores have generated more than $4 trillion worldwide in 2020. Additionally, it has been analyzed that the numbers will go up to $4.8 trillion for 2021.No doubt, the future of the online shopping industry will be having much more potential to grow further.
Are you among the passionate business-minded people and haven't tried this yet? If yes, then you can start a business from scratch now as well to try your luck in online business.
If you are confused about how to start an eCommerce business? Or having investment concerns in mind then you should prefer doing Dropshipping! At present, more than 25% of online retailers are successfully doing Reselling business. It is the best approach for beginners to enter into the profitable e-commerce world.
What is Dropshipping Business?
Dropshipping is a form of retail business wherein the seller accepts customer orders but does not keep productions sold in stock. Hence, your all focus should be on creating and handling your online store and the necessary marketing work. The rest part of the order processing will be handled by your product/items suppliers or the wholesalers.
Are you still confused? It is time to understand the business model better by looking at every stage of its cycle.
1. How does Dropshipping work?
There are three parties involved! Your Dropshipping/Reselling store, Supplier, and the Customer of your business.
Stage-1: You have listed an item on your website at a certain price, let’s assume $300.
Stage-2: A customer visits your e-commerce store, and places an order for that item.
Stage-3: The details of the order will be forwarded to the wholesaler or supplier of that product and make its payment (Wholesale price is $200)
Stage-4: Now supplier will do the required packaging and ship the goods straight to your buyer.
Stage-5: Customer will receive the product, and hence Order will be completed. Congrats! You have made a profit of $100!
2. What are the Benefits of Dropshipping Business?
2.1 Wide selection of products to sell
As mentioned earlier, in the case of a dropshipping business, you do not need to stock your products by yourself. Hence, you can have limitless possibilities to list a wide range of items related to various categories in your web store. After all, you can deal with one or more suppliers of your products to make it possible.
2.2 Less Capital is required
Half of your burden and hence investment is not there if you prefer doing dropshipping business over full-fledged e-commerce. It is because there are many great options as partners for your business to ease your task! It includes producers, manufactures, retailers, e-commerce stores, suppliers, and wholesalers. They can handle the inventory and shipping of the products to your customers.
2.3 Flexible Location
You are doing an online business with Dropshipping. Hence, all you need is just a PC or smart device with Internet connectivity to manage everything. So, it does not matter where you are residing or moving! You can resell anything anytime to anyone located in any place on the earth. By the way, there are many helpful tools available in the market to automate many business processes.
2.4 No Inventory
The biggest hurdle for newbies to enter the e-commerce business is to Buy, Stock, Pack, and Ship products to the buyers. Yes, it needs big investment and proper managing. It is to make sure every product is in stock when listed online and also there would be no hassle in its delivery process. Dropshipping helps you avoid all such activities while doing online selling business.
3. How to Start a Dropshipping Business in 5 Steps?
Step 1: Find a Profitable NicheThe first and foremost step to enter into any kind of e-commerce business is to decide what type of products you would sell/resell on your web store. Many people overlook this important step and choose any products that they think would be on-demand. However, later this could be a big reason behind their business failure. Do you want to avoid such risks? It is better to spend some of your time and effort researching the bestselling products. Today, there are many ways to do it. For eg, Finding hot selling items on popular e-commerce stores, or taking the help of online tools like Google Trends to meet your purpose.
After deciding out the list of products that would help your business grow ahead the next step is to create your web store. It is not enough to have an e-commerce store either on any social platform or a standalone website. Competition is at par level, so you need to prepare a strategy about how your web store will look like, its ease of access, relativity, and more. The best way to plan for it is to look at the other Dropshipping or e-commerce stores that are active. Try to gain ideas from them! Go through their reviews to check out what they are lacking in their service. Note down everything that can help you make an attractive web store to deliver a great shopping experience to its users.
Once planned for the web store and products to list there, your next strategy should be to look for the right supplier or wholesaler service. This is the most crucial part of your whole strategy to start a Dropshipping business. After all, your business fully depends on the overall service provided by your product providers. So, do not hesitate to spend time researching such services as well. As a suggestion, you can choose a service that would;
- Deal with a variety of products,
- Must have lots of local warehouses,
- It can offer fast shipping service,
- There should be some after-sales guarantee to deal with the faulty products, it would be good if your supplier is offering worldwide service,
- It would be best if you should get some help about how to set up a web store, choosing products or more from their experts especially if you are a beginner!
All the above services are common in the SaleYee Dropshipping platform, just have a look at its official website!
Now you have a plan for everything to a better start and manage your business. It’s the time to execute and make it happen in reality. Your first effort should be to well create and set up your eCommerce store. It should be secure enough and user-friendly so that visitors will not hesitate to buy any product from you for the first time. Try to make sure that your website has all the information displayed well for its users. So that in case of any doubt they can refer it and hence you will not need to engage in offering customer support.
The last, but the second most important step! After choosing the product providers, find out the possibilities that can be used to let your target buyers aware of your business. There are many cost-effective ways to get it done like promoting your web store or its deals on social media. You can organize different sales from time to time that could lure people to visit your web store and check out the prices of different products. You need to try to get as many positive reviews as possible either on Google or any other reputed forums or social platforms. So that it can help drive more valuable traffic to your online business without any investment.
How to Grow your Dropshipping Business?
Till now, you have made a detailed plan on how to dropship. It includes researching well about the products that you want to sell on your web store. After that, you have also decided about the design and implementation of your online store. You know from which wholesalers or suppliers you will tie up to get your business successful. And, you have started marketing your business!
One Major task that Dropshippers need to perform to manage their business is to help grow their web store. There are many organic and inorganic ways to bring potential customers to your online eCommerce store.
One best trick that many people use to increase the visibility of their online properties is SEO. It is a part of different approaches to Digital marketing, either your web store, website, video, or any other URL. Here are some more recommendations to grow your reselling business online.
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Develop your unique brand
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Know your audience well
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Focus on content marketing
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Invest in video marketing
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Use paid media to increase your reach
What are the Best Dropshipping Niches?
If you think there are many Categories/Niches to deal with and research for most selling products, then here is help! Try to take the help of your supplier, wholesaler, or product provider if possible like,
What kind of products would be better for you to sell depending on your target business locations?
What group or age of people you are targeting to be your future customers to sell your products?
What would be the range of products that you are planning to sell? You should deal with only good quality products if you are planning for a long-term business in the future.
Below are the popular Niches or say categories from which you choose the products to resell without any second thought:
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Home Décor
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Clothing and Accessories
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Electronics
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Office Products
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Car Accessories
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Toys
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Kitchen and Gardening
All the above Niches are in higher demand since they belong to the products people use every day. So to avoid the possibilities of doubt or future risks, you can focus on the above e-commerce categories. They can help you start gaining sales for your new or old Reselling Business.
Does your mind still is not at the stage to allow you to take a step forward to become an online reseller? If yes, then you need to boost your confidence a bit more. You can do it only by gaining more information about Dropshipping Business from different sources.
A great source of inspiration would be to join any professional course to learn about doing eCommerce business. It will help you to dig into the details about How to's, Challenges, Solutions, Benefits, Right Procedures, and many more expert tips.
What are the Best Dropshipping eCommerce Courses?
You can search online for various helpful study materials that you can refer to and learn better about eCommerce business, but. There are a lot of options to confuse anyone. So here are some top recommendations:
1. Wholesale Ted
Rating: 4.4/5
Coach: Sarah Chrisp
Price: Starts with USD 67 for a month excluding the taxes.
Best for: Entrepreneurs, and to Upgrade the Running Businesses.
Website: https://www.wholesaleted.com/
2. The Ecom King
Rating: 4.5/5
Coach: Kamil Sattar
Price: Free YouTube Videos to watch, Can apply to their Premium Mentorship!
Best for: Both Experienced and Newbies.
Website: https://www.youtube.com/channel/UCn8V4itSjrJBax-xLNJxeOQ
3. Dropshiplifestyle
Rating: 4.7/5
Coach: Anton Kraly
Price: $2,997/$4,997
Best for: Starters with no Experience, and eCommerce Entrepreneurs.
Website: https://www.dropshiplifestyle.com/
Conclusion
If we want to remove unemployment from the world, people should be more aware of the ease of doing business. It could be a better approach than wasting the time to get a dream Job! The more Businesses in the world better will be the economy. After the vast revolution of this Digital era, there are a lot more possibilities in online business. It is due to the convenience that it adds both to the sellers and buyers. A good example of it would be Dropshipping! It is an e-commerce business that a person of any age, any educational qualification can manage. All it needs is self-confidence, good business partners, and the right knowledge about things. Together they can help you deal with the ups and downs in the journey from NO-ONE to a Successful Business Professional!
