If you’re seeking an online business opportunity, chances are that you’ve come across dropshipping. Dropshipping is an online business model that can generate high returns for the aspiring ecommerce entrepreneur.
It’s possible to start dropshipping with a small amount of startup capital and some sweat equity. Once you begin to see success, you can scale by allocating more resources to advertising and brand building.
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For the retail store manager, when it comes to shipping and order fulfillment, this is a mostly hands-off process. The merchant doesn’t have to stock products, order inventory in bulk, or physically fulfill the orders in any way. Instead, the third-party supplier will ship products on the merchant’s behalf.
What is Dropshipping?
This is a type of retail fulfillment method for online stores, where instead of warehousing inventory, merchants purchase products from third-party suppliers as customers make orders. The products are then shipped directly to the consumer. This way, the seller doesn’t have to handle the product directly.
It is great for entrepreneurs because running a store doesn’t demand as much operational capital as the traditional retail model. You don’t have to open a brick-and-mortar store, hire employees, keep the lights on, pay overhead, or stock products. Instead, you open an online storefront and buy wholesale from suppliers who already have products and warehouse space.
What Is a Dropshipper?
This is a manufacturer or supplier who manages inventory for a retail merchant and ships orders to their customer. The merchant is mainly responsible for gaining customers by driving traffic to the store and processing orders.
This means you’ll effectively be a middleman. Despite this, you’ll reap the lion’s share of the profit by marking up the items you sell. It’s a simple business model and one that can be very rewarding.
Benefits of Dropshipping
This business comes with advantages and amazing benefits you can gain from:
- A dropshipping business is easy to set up.
- Dropshipping is scalable.
- It doesn’t require an office.
- Dropshipping is flexible.
And many more.
Is Dropshipping Profitable?
There are many ways to start and grow a business. Our entrepreneur stories talk about merchants who have started these businesses to make a few extra hundred bucks a month, while others have grown multiple six-figure stores.
Whether you are looking to start dropshipping as an introduction to ecommerce or a business model to last forever, it is important to understand how it can be profitable to you.
The Dropshipping Process
Now that we’ve covered what this is, let’s discuss exactly how it works. Here’s a step-by-step overview of the entire process as well as a look at what the customer experiences.
- Choose an ecommerce platform (Amazon as an example).
- Sell the right products.
- Create an Amazon seller account.
- Get approved in your product category.
- Set up your Amazon account on Shopify.
- Start dropshipping from Amazon to Shopify.
- Have Shopify track inventory.
- Start promoting your Amazon store.
And that’s it.
Here are some tools you can use to increase the audience of your sales:
- Merchant Words – https://www.merchantwords.com/.
- FeedCheck – https://feedcheck.co/.
- Shopify – https://www.shopify.com/.
- Sellery – https://sellerengine.com/sellery/.
- Feedback Express – https://www.feedbackexpress.com/.
- Amazon Volume Listing Tools – https://www.amazon.com/gp/help/customer/display.html/.
And many more others.