Dropshipping got really popular in the past decade and it’s still continuing to grow as we speak. It’s one of the best ways to step into the world of entrepreneurship. Starting a Dropshipping business has tons of benefits and if you’re willing to commit and work hard, you can build your own successful brand. In this article, we’re covering everything you need to know about starting a Dropshipping business. Let’s begin.
Source: Oberlo
What does Dropshipping Business mean?
If we were to really simplify the meaning of Dropshipping it would probably go something like this. Imagine having a store and a delivery service, without actually having them. Yeah, it’s confusing but let me explain how it works. Dropshipping is a type of business which you can use to run your store without holding any inventory. Once you’ve confirmed a sale with a customer, your supplier will directly ship the product from their warehouse to your customer’s doorstep. You won’t have to worry about packaging, storing or shipping any of the products that you’re selling. It’s basically running a shop without all the headaches that would usually come along with it. You should definitely check out sites such as FluffyMonkeyShop that has great deals on various products.
Source: Medium
Dropshipping is made by three key roles working together. The first one is the manufacturer, the second one is the retailer (which is you in this case) and the last but not least is the customer.
We’re going to explain each role separately so you get a better insight of how the entire process functions. The manufacturer’s role in the business of Dropshipping includes a few tasks. Some of them include creating the products, of course, carrying out some inventory, shipping products to the retailer’s customers and replacing the defective products if there are any. Next is the retailer, which is you. Your responsibilities include selling the products and forming a customer base. You will be promoting your brand, making special offers and everything else related to selling. Your job is also to manage customer inquiries and complaints.
Lastly, it’s the customers. They’re buying the products directly from you, usually at a reduced price than if they bought it from the original seller. If the customers have any questions or issues, they will be contacting the retailer (you).
Source: ReferralCandy
Why should I start a Dropshipping business?
One of the perks of starting a business like this is the low risk factor. You will only have to pay for products that you will sell to paying customers. You won’t have to become overloaded with the costs of creating the products or carrying the inventory, maintaining unsold items and packaging or shipping. It’s a great way to step into the world of entrepreneurship. It doesn’t require that much time and you can usually run this business during the weekends and your free time periods. However, if you really want to build your own powerful brand and become really successful, you will have to put in a lot more work. Dropshipping business opportunities are endless, you need to be courageous enough to take the first step and start selling.
