If you're someone looking to start your own business but don't know where to start. Or if you're looking for a side hustle to bring in some extra cash. A lot of people are turning to Drop shipping. In this blog we'll go over what Drop shipping is and how you can get started.
Drop shipping is a business model that involves selling products without having to keep them in stock. When a customer orders the product from your store, you purchase it through one of your many wholesale suppliers and have it shipped directly to your customer's door. You'll find that drop shipping requires less upfront investment than traditional eCommerce businesses but also has lower margins- so don't expect to become an overnight millionaire! Here are some tips for starting your own successful drop shipping business.
There are many benefits to drop shipping over other types of ecommerce models, but there are also drawbacks as well. One major benefit is that you can run this kind of business on any budget; all you need is enough money for fees and upfront purchases and you can get started. You won't need to worry about things like inventory, warehousing, or shipping costs because the wholesaler will take care of that for you. Another benefit of drop shipping is that you can work with multiple suppliers and have the customer thinking they're buying from one company.
But there are also drawbacks to running a drop shipping business model- mainly that your margins will be much lower than other models of ecommerce. You'll find it more difficult to scale up this type of business, which means you'll need to make enough profit on each sale in order for it to be worthwhile. There's also increased competition because anyone has access to starting their own drop shipping store- so finding something unique or interesting is even more important!
One way you can increase your chances of success is by using social media platforms like Facebook Ads or Instagram Influencers/Advertisers as well as developing an email list marketing campaign or creating sponsored content.
So, what kind of products should you sell? Well one important factor in deciding that is deciding how much time you want to invest in selling. If you want it to become an additional income stream, then choose one or two categories that you are comfortable with and can commit enough time to each week. If this is something that will replace your current job, start off by picking three categories so that there will still be some flexibility if needed! A good idea is to make a list of all the things that you enjoy. Think about who your target audience might be and look at items similar to the ones in your list. It may help you narrow down what products would be best for your store. This is also crucial because if you'll naturally be good at selling something that you feel passionate about.
So, if you're looking to start your own drop shipping business or side hustle, we highly recommend obviously doing your research and checking out the tools available to help you jump start and grow your business.