Ideas on how to start a drop-shipping business
Drop shipping is a way of having a retail business without holding masses of stock. We asked consultant and coach Sam Dossa to share his experience and ideas on how to start a drop-shipping business here…
Drop shipping is a really profitable and quickly growing sector of online business. If you run a drop shipping business, it simply means that you sell products to customers that you don’t own. The customers place their orders with you, and your chosen supplier ships the products directly to your customers.
Below is the process:
Product research is very important to begin with. https://trends.google.com/ is the web portal where you research on the products worldwide or narrow down to the specific country allowing you to know whether the chosen product will be a success or a failure.
Drop shippers are available locally as well as internationally. The beauty of drop shipping is that you don’t hold any goods at your warehouse or home and you don’t have a headache of despatching the product. You only process the orders and collect revenue.
Most of the online shops market their products via Facebook Ads, Google Ads and other means which allows them to showcase their business to a wider audience.
There are two ways you can get this going, Firstly, you can discuss with us regarding running the drop shipping business and will be able to take you step by step. We will help you in designing your Ecommerce shop, integration of payment system, exploration of products and suppliers locally or internationally. Setting of markups on the product. Product research and trend analysis. Marketing of product/s extra. Training as how to insert the products on your platform, how to connect with local suppliers to negotiate on the pricing. Facebook group with fellow investors and more. Understanding business legislation, create your company on company house, selecting an accountant etc.
Secondly, you can get a subscription on Shopify, Esty and other online platforms which offer a similar service on a monthly subscription but the drawback with that is you’ve to design your online shop, look for the product yourself, do all the research, looking for the right suppliers and marketing and so on.
It’s entirely the individual’s choice.
Day to day
Once your online shop is active, you will be doing 2 things. Firstly, processing the orders and secondly, marketing your products which generates more orders.
It is a business idea that MAY be able to replace your previous income after redundancy. However, every new start-up requires full commitment and positive mindset. If you are hungry and have determination to succeed, it is possible to receive desired results. It also depends how quickly you take action. Many of our clients begin making sales even before completing the program. Others prefer to take their time. The best part is, you get to choose. Finally, building a long-term e-commerce brand is a marathon, not a sprint – so take it at your own pace. One business that has been through our programme is www.smilesforpets.com
You can contact Sam via Linked in here.