How to Start a Dropshipping Store, Complete Guide
The latest statistics show that there are around 310 million active subscribers on Amazon and you might be one of them!!
We are aware of the e-commerce boom and its impact on our lives. As e-commerce develops, so do many people who want to start an online e-commerce business. I happened to ask my friends what they would like to do in the future. And to my surprise, so many of them said they wanted to start their own business. Entrepreneurship is a gravity career for most young people. But there are limits to suddenly starting a business. You need good investment support. Capital is the most important investment in starting a business. What if you don't have to spend money on your business and still make money?
DropShipping is not a new term or concept in e-commerce, but few people know how to start a DropShipping business. It's more than a business, it's a service. In the dropshipping business, you don't need to spend a lot of capital or even set up a physical store. The internet does the job!
This is a retail method in which the seller does not keep his product in store or inventory. Basically, sellers sell their products in online stores and buyers simply buy them. But the main task of the company is actually performed by third-party systems. Among all the positive aspects of this ecommerce model, the main advantages of dropshipping are
Minimum capital required
There are no obstacles in creating a shop
Lower risk margin
You can set your own price for the products you sell
Let's take a look at the basic steps you need to know before setting up a DropShipping store in 5 easy steps
Drop shipping
draft
Find out more about your interests
This is the first thing you need to understand to start your business. Find out exactly what you want your company to do for you, what products to sell
Research your customer base and see which products can help you generate a higher return on investment
Find out who your competitors are in this plan and how they run a business to make money
The first step is all your homework that you need to do before moving on to the next step in running.
Find a suitable supplier for drop shipping
Dropshipping providers are basically behind-the-scenes characters. Because the dropshipping supplier is the one who handles all the physical tasks of the company such as packaging, shipping and shipping.
Therefore, it is important to turn to a trusted provider who can sync the products you want to sell. Check the following with the provider...
How long does it take to ship an order?
Which tracking system do you prefer?
When they offer a guarantee for their product. If so, how long?
Get sales tax number
We all know what sales tax means. This is a tax levied on all sales of physical goods to consumers. While it's not required to have a seller's tax ID on eBay, there are certain vendors who prefer a seller with a VAT ID.
Well, getting sales tax is easy and cheap!
Just google "country name" + "sales tax" and you will be sorted!
Sort your platform
Now that you have met the prerequisites mentioned in the steps above, you need to know which platform you want to sell your products to.
eBay is the most widely used and easiest ecommerce platform for beginners.
Amazon is the world's largest e-commerce site for selling and buying products
Bonanza and Ruby Lane are also e-commerce stores that will help you promote your products
If you're not one of those platforms, platforms like Shopify can even help you create your own ecommerce store
Shop and advertise!
Imagine you have a great business idea and even set up an online store, but no one knows about it! There's nothing sad about that. You need to hire a skilled marketing analyst and start marketing your product.