At such a time like this (by that I mean the year 2019 we’re in), it is increasingly becoming necessary to seek out especially for a student here is dropshipping business ways to earn some income “on the side” (as people would like to put it).
This is because of how a little unsavory the economy has become, and everyone has to bolster their purchasing power with whatever “side hustle” they could find for themselves.
While there’s no question of whether anyone likes the development or not (it really is just what it is),
there are people out there who are currently actively (sometimes, desperately too) looking for the right kind of alternative source of income for themselves.
drop shipping business opportunities
Dropshipping is one very veritable way to make that money on the side, but most times, people don’t understand how to go about it.
Once you’ve been pointed to the right direction, things are mostly straightforward from thereon.
can I really make money with dropshipping?
In this piece, we’ll be demystifying the idea of drop shipping to the “common man”, discussing its meaning and highlighting, quite simply, the various procedures that lead down the path of money-making in dropshipping.
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is dropshipping worth it
Dropshipping Business Meaning
More than a decade ago, the word “Dropshipping” never even existed, and it’s forgivable to think it doesn’t even now.
But as they say, the times have changed, and Dropshipping has become quite a popular way to make money these days.
Dropshipping (or Drop Shipping) is an act (or process) by the retailer on the supply chain of a particular product whereby he doesn’t keep the goods in stock,
but transfer all customers’ order to another manufacturer, or wholesaler, and then receive his agreed commission upon every completed transaction.
So, basically, in drop shipping, you are a retailer, who would receive orders for a product you don’t have to have in stock,
then you link the customers’ orders up with another person (who is the direct manufacturer or a wholesaler) who would work on those orders and ship directly to the customers;
you’ll then get paid an agreed commission by the manufacturer/wholesaler – as simple as that –
You could charge the commission from the customer, but this is not advisable, as this would make the whole experience more expensive for the buyer himself.
It’s mostly straightforward, once you’ve established yourself as the link between customers and those who have the goods (you’re like a retailer, but a lighter retailer).
Commissions are paid on the agreement between you the light retailer, and the wholesaler (or the guy with the goods)
How To Start Drop shipping business opportunities
Dropshipping is one of the few online businesses out there that doesn’t require a lot of capital. In fact, you could start with virtually nothing at all – however, there are procedures to follow.
The first thing to do is to decide the kind of goods you’d like to market and find the seller of that good.
While it’s totally up to you to figure out the first part, you can start looking for sellers by visiting online stores.
Technically, there’s no such thing as Dropshipping Business wholesalers, but there are people out there who are exactly that in online stores.
Basically, they have a store on an online marketplace, and then they solely rely on drop shippers to bring in the orders for them.
dropshipping companies in the USA
Finding the right wholesaler would take some time, and “smart search”; but it’s helpful to know some tips on how to go about it –
It might take some time to close in on a deal, but it’s very straightforward if you do it right.
Once you’ve got a deal that you like, complete registrations and finalize terms (seriously, it’s a lot easier than it sounds), and you’re ready to go.
Then the next thing to do is to source for orders. Advertise the products you’re Dropshipping and seek out potential buyers.
At this point, it is important to note that it is not always advisable to let the buyer know the store location from where you drop ship;
this could lead to the buyer bypassing you and going directly to the seller. What you want is to have as many people ordering the product through you.
Once customers begin to show up, you start taking their orders and forward those orders to your Dropshipping store,
then the store deals with those orders and ship directly to the customers: sometimes, you would act as the shipping point,
but to avoid unfortunate stories, agree to let the customers receive their orders directly.
How do I get paid?
This is the most interesting part, after all, you’re in this to get paid and make money.
Normally, you make commissions in Dropshipping, and that comes in percentages.
The store for which you’re Dropshipping would set the commission percentage, and
it’s usually on a “take it or leave it” basis, and if it’s favorable for you,
then, by all means, take it; if not, seek another deal.
Stores would like to keep drop shippers who regularly bring in orders and drop those who don’t
(since there are typically a lot of people waiting in line to drop ship),
so you’ll want to keep bringing in customers. It can be kind of hard to keep up with customer quotas
(that is, number of customers you are to bring in) but you’ve got to consider goods that have a high demand;
drop ship those and you’ll scarcely run out of orders.
Like mentioned earlier, it’s not always advisable to disclose the exact location from where you drop ship;
since most of the time, you’ll drop ship from an online store, customers could easily bypass you and go over the store and make their orders themselves.
Another way to forestall this is to dropship from an international site;
most consumers would rather order from a local site than an international one,
but if you convince them they’d get a better deal if they order from an international site (through you, of course), they’d play ball.
Other tips you should know
There are some realities you need to know in the Dropshipping business.
First of them, is the fact that it isn’t a “get-rich-quick” scheme.
Some wholesalers offer as low as 10% on every successful order you bring in,
and you would have to do an awful lot of work before getting something substantial out of it.
One way to help yourself is to key into multiple Dropshipping outlets (if you’re versatile enough).
The difficult part of getting started is earning customer trust.
Unfortunately, there are scams out there under the guise of Dropshipping,
and the customers know that as much as anyone else,
so you’ve got to do a lot of work in proving to them that you’re a real deal.
Be proactive, and virtuous; let people see you’re serious.
Give incentives to make them want to keep coming back to you.
Getting customers is the hard part, keeping them is even harder, but all of it would be easier if you earn their trust, and don’t break it.
Conclusion on Dropshipping Business
This piece aims at giving you the low down of how dropshipping works, in a way that isn’t technical; think of it as a “Dropshipping for dummies” kind of thing.
Admittedly, the experience is a better teacher (as they say), and some of the things in this piece would make better sense if they’re put in practice.
Get someone who’s been in the Dropshipping biz before, and learn about the business from anywhere else, but it’s always nice to start from here.