Start Drop Shipping Online Business
- 1 OTHER WAYS OF MAKING MONEY ONLINE
- 1.1 What do you need to start a drop shipping business?
- 1.2 Pros of a Drop Shipping Business
- 1.3 How about the cons?
- 1.4 My opinion about Drop Shipping
- 1.5 Other Ways of Earning Online
- 1.6 How Can you earn Money everyday With Affiliate Marketing?
- 1.7 Youness on Wealthy Affiliate
- 1.8 " I joined Wealthy Affiliate with 0 experience in the online business, within a few months, I had 2 websites running, getting traffic and sales everyday. It gave me the freedom to quit my job and focus only on running my business from any place in the world. Joining Wealthy Affiliate is one of the best thing that happened to me. Join us and I will show you how to make money."
What is Drop Shipping?
This a platform that requires a lot of marketing and branding. So, if you want to start drop shipping online business creating a new way to market the products that are already sold online or in other retail stores.
Drop shipping earns revenues by allowing individuals to resell their products and adding more price to it so they can have profit from the actual sales.
For example, an item is being sold in Amazon and it’s not being marketed since there are manufacturers who just post the product in Amazon’s listing but don’t market it.
A drop shipper’s job is to find those products that are sold online, contact the supplier of that, make a website or a profile in the social media platforms, advertise, create a marketing strategy and sell it to the public with an increased price.
The product might have been listed as $10 in Amazon but when a drop shipper sells it, they can have the item sold for $15 to $20 or even more than that if they have done their marketing really well.
The beauty of drop shipping is not needing any capital or start-up money to get started on the business.
Why is this? Because when a buyer purchases the product, they pay the drop shipper then he/she pays the manufacturer and have it shipped to the client.
So this means the drop shipper just earns the profit without worrying about storage space, production and even shipment.
What do you need to start a drop shipping business?
Drop shipping is not as easy as it sounds. You might not need storage spaces, capital or a production crew but you will be needing plenty of marketing and research and this is where it gets tricky.
1. Research on current trends.
Start a drop shipping online business with research. When you start a business, you need to get more information of what you’re diving into.
Looking at the current trends that in demand or ride on with the latest trends where people haven’t bought yet is a good way to start big.
You have to stay current and updated of what are the new trends or even try to predict what’s about to go viral.
2. Find your niche. Identify your target market.
There are different kinds of people, check your demographics. Discover the market you’d like to tap into.
You can be having your niche that’s relatable by the gen z or the millennials or maybe you’d like to sell to some boomers. It’s up to you and what you’re interested in because your niche should also be what you’re passionate about.
It’s hard to sell a product that you yourself are not into because it will be hard to add some information about it in the long run. Relying in marketing, you have to believe in what you are selling too.
3. Find a trusted supplier.
Since drop shipping is now growing, the scammers out there are growing in numbers too. Be careful on choosing the right suppliers.
If it’s too good to be true, you might want to step back and review the supplier’s profile. Check the prices and the supplier’s competition because there will always be another supplier for you offering the same product. Observe their professionalism and try to figure out if you can trust them or create a steady supply because they might be ordering from another supplier too.
4. Look at the competition.
It’s always nice to have some good competition because with this, you can set some references for the pricing or know what area your competition is usually selling. Healthy competition can still help you boost sales and will give you some ideas on what to do and what not to do in your business.
Research about what your competitors limitations and try to fill in the gaps of what they can’t provide so there are higher chances of customers coming to your shop.
5. Sell your products.
Get your marketing skills ready because they’re gonna have to be sharp! You will be creating a brand for your products, marketing them on the right market, having a statement or different kinds of advertisements set up.
You can also build a website where you can show off your product, write some reviews about it, have some blogs written of what the product is, how to use it or different kinds of information for people to know more.
Now setting up a website is hard especially when you don’t know to code.
To recommend the best and leading tool out there that is used for WordPress and other websites, Elementor sets the bar. You don’t need to get codes made for the website and you just simply customize it with the fonts, colors, page layout and so much more.
So basically, with Elementor, you’re just building a website without any codes.
For people who are into lowkey selling, making an Instagram page or Facebook page is also okay but you have to invest by paying ads a lot.
You can post up photos of your product or you can have both website and social media platforms where you can link your blogs in your Facebook posts to generate shares.
Pros of a Drop Shipping Business
- No capital or start-up funds needed.
Because of how drop shipping works, you don’t need to have start-up funds because you can directly pay your supplier when the buyer purchases the product. It’s up to you to invest a little on advertisements or setting up a website.
- No need for storage
When your supplier will be the one who’ll ship the product to your buyer, you don’t have to worry about storage units or spaces for the products.
- Low risk of loss since there’s a little fund let out for investment purposes, you don’t actually have a lot to loose.
How about the cons?
- Less control or production, lead times and shipment.
Relying on the supplier can cost you. You don’t have control over the lead time, production and the shipment so this means if there are problems, there’s nothing you can do about it. When the supplier is out of stock or if there are delays and concerns regarding shipment, you’re helpless and all you can do is wait just like customer.
- Bad customer service.
No matter how easy your ordering process is or how fast and responsive you are in replying to inquiries and concerns but when a customer do not have thee enough patience to wait for week/s for their product to arrive, it will still fall as bad customer service.
- Less profit.
Since you are not the one manufacturing the product, you need to consider that your sales will not be stable and will not be as much as you expected. So if you want to live off, quit your job and focus on drop shipping, you need to think about the pros and cons and do forecast of the sales because if you’re selling current trends, in a year or two, your sales might cut down in half or even lower. Be careful.
Here is a video for more insights about drop shipping and the things you need to know before diving into the business. There might be people who think drop shipping is a scam but understanding the nature of the business is very important.
My opinion about Drop Shipping
Drop shipping can be a great platform to earn money online because I personally think everyone can do it because it relies in marketing and that’s is a skill to be developed and studied.
Most people think marketing is easy and is just plainly posting products but to earn money, you have to invest, train and study more about it. Drop shipping is good when you have enough background on how digital marketing works, how to build business to client relationships and if you have some knowledge of how production, lead times and shipment works.
To summarize everything in this article, drop shipping can help you earn, yes but I wouldn’t recommend it to a beginner.
Other Ways of Earning Online
If you really want to earn money and start simple and easy, you can do affiliate marketing instead which do not need you to actually sell a product or contact a supplier, worry about shipment and productions. It’s an easier way to earn money and helps you earn passive income as well.
Aside from drop shipping, we can have answering some surveys online, doing some micro jobs, doing some small tasks posted by people. There are many ways of earning online and it depends on what your skill is. Applying to a website that will pay you to write a blog but you don’t know how to write can be hard. Identify your skill and build from it.
There are also other ways to help you earn online but this is more complex since you will be actually working. I’m referring to creating YouTube videos and this means planning out your content, trying to earn views and registering to enable ads that will help you earn from your videos.
Aside from YouTube, you can also do podcasts but that will also mean setting up equipments, planning content and committing yourself to make a show or episode to increase your audience.
First of all, I want to ask you guys a question, what are you looking for? Are you looking for earning money as soon as possible whether it is the nature of your project and without any objectives and passions…
If you are that kind of person, let me tell you! You’ve chosen the longest way to succeed!
For me, the first thing you have to choose is your GOAL, through your passions, and go from there to achieve a long term business that can generate for your real money and let you live happy from your passions.
Instead, Affiliate Marketing is my top recommended business model for anyone to make money online.
The reason is simple…
- You don’t have to recruit anyone to make money
- You have the freedom to promote any products you want and not being restricted to only promote the products from one MLM company
- It’s Free to get started
And this is how I’m making money from what really I love, and I got helped from the best platform in the world Wealthy Affiliate.
Here are some examples of real successful people from my best platform.
Through my own hard work, I went from a broke Fastfood worker to living my dream laptop lifestyle in less than a year’s time…