How To Make Money Through Dropshipping
How To Make Money: For a lot of people, especially those looking for how to make money online, drop shipping has become a fast and viable means of making money online.
According to Google Trends, popularity is rising, highlighting its viability as a business idea. With different success stories about how an entrepreneur made $6,000 in eight weeks or how a store owner made six figures selling just one product, there’s plenty of proof that dropshipping is a real way to make money online.
What is dropshipping?
Drop shopping is a business model where you sell a product to a customer, but the supplier stores, packages, and ships the product to your customers on your behalf. For example, with Shopify dropshipping, you have access to millions of products that you can add to your store. Some Shopify dropshipping apps allow you to hand-pick your product images, edit item descriptions, and give your business a personalized vibe, so people will love shopping with you.
With a drop shipping business, you can have the lifestyle you want most, no matter where you live in the world. Dropshipping is a business model that you can use to manage your store without having inventory. Once you have made a sale, your supplier will send your product from your warehouse, directly to your customer’s door. You will never have to worry about storing, packing, or shipping your merchandise.
There has been a notable increase in the investment of the main actors in the e-commerce sector due to the number of buyers inclined to online shopping platforms. Dropshipping is a lot of work, no matter how you cut it but it’s a cool payout way in the long run.
HOW DOES DROP SHIPPING WORK?
You find a supplier offering drop shipping services (you may need to email them to find out) and set up an account. Different drop shippers have different setups but usually, you can choose to credit your account, or, you can simply leave it empty and pay for each item as you sell it. Once you’ve created an account, all you need to do is grab the drop shipper’s provided photos and product descriptions for the items you wish to sell and list them on eBay or your website.
After you make a sale and receive payment, log into your supplier’s site, select the product you have just sold and take it through the checkout and pay for it. Enter the buyer’s address details, and the supplier will package it up and ship it!
BENEFITS OF DROP SHIPPING
The Benefits of drop shipping are:
– Drop ship suppliers really take all the responsibility of handling and managing stock, saving you a heck of a lot of time!
– You don’t have to store stock on site.
– All packaging and postage are taken care of.
– You only pay for the stock you sell, so you remove the risk of holding stock and being stuck with it if an item doesn’t sell.
– No minimum order – you don’t need to have a lot of cash to get started.
The best way to make money dropshipping?
Most entrepreneurs have been focusing on a few marketing strategies:
– Running Facebook ads
– Having influencers promote their products
– Sending direct messages (DMs) to potential customers on social media
Ready to start a store but need products to sell? Handshake is where online entrepreneurs go to buy products at wholesale prices.
Summary:
– Drop shipping allows you to sell products before you purchase them from a wholesaler.
– The benefits of drop shipping are: There is very little risk for you because you don’t have to invest money, you don’t have to store stock or ship items, and you can offer your buyers a wide range of items, without having to front up a lot of cash.
– The drawbacks are that sometimes stock shortages occur and you have to refund your buyer because your supplier is out of stock. Sometimes when you drop ship, it will be difficult to compete on marketplaces such as eBay because you will pay more for the same item that other sellers are buying in bulk, and therefore get a bulk discount.
– Also, lack of control can be a problem and if your drop shipper slacks off, you will be held responsible by the buyer.
All and all, dropshipping is a fantastic way to sell items online – you just need to make sure that the prices you can source products from suppliers for, actually match up on eBay or another marketplace and allow you to make a profit.