This year 2022, is unique in history for many reasons. Each one of us have seen the good and bad side of what a pandemic impact can be. While many are recovering from after effects, there are several who have figured out that, this is the time opportunities this year most people are looking for business ideas with nil/ zero investments and lesser pitfalls. Among the many new business ideas, “dropshipping” is a business strategy which can be done without much hassle and investment. If this interests you, then here is all you need to understand about “dropshipping” before you get started and understand how to start dropshipping.
What is Dropshipping?
Firstly, let us understand, what is Dropshipping
? Dropshipping is gaining popularity as it somewhat bridges the gap between a product manufacturer and the consumer, by allowing people to plug in the right product with right customers within their circles or through a platform supporting dropshipping. This is ideal for people seeking profits with low overhead. In the dropshipping model an entrepreneur does not have to buy, store, pack nor take the hassle of shipping the product from the manufacturer/ supplier. Here one can open a store and select which suppliers to work with and use the suppliers catalog pictures on a personal web-store and start marketing the link. Once people place an order the supplier is notified and payment made, the product is out for delivery as per the duration and shipping method specified. Supplier takes full responsibility of shipping the right product and quality to the address specified, while he still remains anonymous and specifies the web store’s name as sender. This encourages an entrepreneur to grow and build a good reputation among his buyers and attract more sales.
Is dropshipping worth and what are the benefits?
This is one of the best options one can have in 2022, if you are looking for high profit and low risk business models, dropshipping is for you. Dropshipping
is easy to operate and gives you the freedom to work from anywhere, without the hassle of investing and following up production from start to dispatching. This is a great way to start a business without having to neither manufacture it yourself nor worry about stocking and huge inventories or dead stocks. We all know that getting a product onto the market shelf requires huge investments and manpower. Manufacturing companies must have a fully equipped factory set-up as per local government guidelines and have trained staff to make the best quality product and this is just not enough, the company has to invest in market research and packaging also as for most products customers demand new looks and feasibility and this requires good amount of investment. By choosing a drop shipping method you will save all your energy as well as money and can stay focused on sales and profit, which is the main objective of choosing to do business.
Is dropshipping a legitimate business?
Where there is more to gain and less to lose, and people are earning thousands each day, it is obvious to have doubts if it is legally approved and safe to put in time and effort. Well, you will be glad to know that it is absolutely legitimate business and is legally approved. This is one of the most popular ways thousands of suppliers worldwide are using to reachout to consumers and scaling up business in locations where they are not able to have their own presence. The companies working this way are saving on marketing and other promotional costs hence making good profits, at the same time entrepreneurs are saving on the manufacturing till shipping costs and making good profits. Although there are proper legal business terms and conditions agreed by both parties to safeguard the future business, therefore, more and more people are finding it safest to begin with.
How to start a dropshipping business?
Like all businesses, one needs to understand the “dropshipping
” business model and do some basic common things which would make this step a profitable one. Firstly, spend good time reading and researching dropshipping options available in popular B2B and B2C sites, then find the right niche or product line that appeals to you, the most. You will have to do a product search and figure out what can sell best within your known circles and if the product has good demand demographically as well. Then comes the product quality and price, this is very important as if the product is highly priced or cheap you may have sales issues there. This step may take a lot of time, but patience is the key, keep digging in and you would find the product that would meet most of your set criterias. You may choose more than one supplier for your niche product. So this would give your customers a good choice of design, color and prices to choose from, which would in one way or the other help you retain your customers and have potential sales as expected.
How to find dropshipping products?
No matter how safe the business model is it is best to check out and rely on the right supplier for your dropshipping business. There are several suppliers listed from all over the world, finding the right supplier is yet another task, but make sure you spend enough time on this for a stable business ahead. It is recommended you shortlist the potential suppliers and check on the products they are supplying. If possible buy the product for yourself and check on the quality and pricing. You will also find reviews to help you know about the supplier too. After having read and experienced the product quality, reliability, speed and flexibility, return policies, before and after sales services, clarity in communication and financial security, you should get into a contract with them. This is how to start dropshipping for free
Apart from online you can find reliable suppliers through trade shows, competitions, exhibitions and many more such consumer events. Many times it works out great as you will personally meet the suppliers, which builds a strong trustworthy business relationship.