What is Dropshipping?
Dropshipping is a type of online retail business wherein you can sell products without taking the hassle of stocking and maintaining inventory at your end. It is a simple model of business in which you need to find and connect with Dropshipping suppliers, these are the entities who will provide you products to list on your website. Finally when a customer comes to your website and completes a purchase, the product order is forwarded to the suppliers and he fulfills the order. In short, you being the website owner, or a Dropshipping business owner, are a medium for the suppliers product listing and the end's customers best bargain. Stick to the best Dropshipping blog 2021 to know everything about Dropshipping.
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How Dropshipping Works?
Here’s the basic flow of Dropshipping follow these steps to be considered among top Dropshipping websites of 2021:
1.First you need to choose a product. You can have a niche or multiple products for your Dropshipping business. Do some research before choosing a product and select products that have greater profit margin and demand.
2.Once you have decided on a product, the next step is to find suppliers. You can choose an independent supplier or integrate with a Dropshipping marketplace.
These suppliers are your business partners and you need to confirm their credibility and goodwill in the Dropshipping market, before you get in a business with them, so that it doesn't harm mutual a benefit.
3.Once you have decided on a product and a supplier, the next step is to import items to your online store and do the pricing. You are in total control of the margin you want to set for each sale.
4.Now the business is at functioning stage - Customers come to your site, view products, place orders and checkout. What you will do next is forward customer orders to the supplier with customer's shipping details and pay the supplier out of the payment you received from the customer.
5.Once the order and payment is received by the supplier, he will ship the order directly to the customer's address.
You get all tracking details with tracking number in the system so you can update your customers about the status of the delivery.
Why you should start Dropshipping?
Dropshipping is one of the best business to start online with no money. The concept has been there for a long time though, E-Bay is one of the biggest examples of Dropshipping. There have been doubts about the success of Dropshipping business to an extent that people question...Is Dropshipping dead?
But Dropshipping is still profitable in 2021 as the number of online shoppers is growing more than ever.
Here are few points why even you should start Dropshipping-
Low Capital Requirement
The reason why Dropshipping is one of the best online business to start with no money is that it’s possible to launch an e-commerce store without investing.
In a Dropshipping model, you can set up your own store and you just have to list a product on your website. You don’t have to purchase a product unless you’ve made a sale and the customer has paid you. You don't have to maintain inventories too...so most of the heavy costs are off the checklist which makes Dropshipping business a affordable business.
Easy To Setup
Dropshipping is easy to setup and you don't have to deal with physical products, plus a lot of stress is off your head related to
warehouse management, packing and shipping, tracking inventory, handling returns and shipments etc.
All you need is a website, a product and a supplier and you are good to go.
Overhead costs are minimal to zero in Dropshipping. You don't have to own a product, or a store or even inventories, so there's no question any labor, electricity, land, transport, fuel etc charges that might add to your costs and reduce profit.
A Dropshipping business is operatable from anywhere, all you need is an internet connection. You can create a website while you are based in a specific country and get business form all over the country you are based in.
Wide Selection Of Products To Sell
Like mentioned before, you can select a niche product or you can have a wide selection of products to sell online. All of this can be done without having to invest a penny for any product you want to list. You just have to co-ordinate with the suppliers for product availability and list them accordingly.