For the people who are interested in starting their own business, Drop shipping is the best option. This business is not only good because one can operate it from home, but it will help you become successful in less time.
Just like other businesses, dropshipping also requires the modest investment, dedication, and hard work. But, this kind of business is a great way to earn income, and it’s a very safe investment. Setting up a drop shipping business, furthermore, is simple, given the extensive range of helpful information contained on the internet and from wholesale sellers that provide the products you want to sell in your drop shipping business.
What is a Drop Ship Business?
Fundamentally, your drop ship business is a storefront—often an online store. You can choose the product that you wish to buy on your store, but they will remain with your wholesaler. When a customer orders any product from your store, you just have to transfer or notify to your wholesaler about the product; then the wholesaler will ship that item to your customer. You never need to store the goods yourself or ship it. You naturally pay the wholesale rate for the product and transfer shipping costs and fees to the wholesaler, but you keep your portion of the retail sale. In short, in this business, your part is to market, sell and provide customer service to your customers.
How to Get Success in Dropshipping Business?
To become successful in dropshipping business, here are some steps that will help you touch the sky of success in short interval of time:-
Step 1: Choose a product to sell. The initial phase in any business procedure is choosing what item to offer. Numerous variables ought to be considered before you settle on the choice, but for now, suppose that you have chosen to offer CD players on eBay.
Step 2: Locate a supplier who will drop-ship for you. By making use of a research tool like Google, ThomasRegister.com or a renowned resource like The Ultimate eBay Dropship Power Pak, you can look and come across a company that will drop-ship CD players for you. If the company offers you a 35% markup over price, which means that it will supply the CD players for $100 each to you, then you have been capable of selling them for $135 per piece. Make sure the drop-shipper has a good collection of CD players with him so you don’t have to stop selling a product that will be back-ordered.
Step 3: Set up an account with the drop-shipper. Presently it's a great opportunity to set up an affiliate account with the organization that will supply the CD players. This should regularly be possible online or by telephone, yet a few organizations will require that you finish and give back an affiliate application to open an account. Some may likewise require a tax ID and a business permit.
Step 4: Advertise the product for sale on eBay. Since you have your supplier in line and you, know that the item is in stock, it's a great opportunity to make a deal. That implies it's an ideal chance to promote the item utilizing an eBay auction. Since you recognize what you should pay the drop-shipper for the item, you additionally comprehend what least sum you will take for the item. For this situation, you could begin your auction at $100, since that is your price. If you are certain that you can get more than $100 for the item, you can begin with a lower cost, yet recollect that if the item goes for not as much as what it costs you to take care of the request, you will lose cash. Additionally, recollect that the drop-shipper will charge shipping, so makes a point to consider that along with your deal.
Step 5: The product sells. Great news-your CD player has sold for $135, and the payment you receive from your customer is paid with a PayPal instant payment. I will suggest that entrepreneurs make use of PayPal or some other method to accept instant payments. This facilitates the customer to pay quickly you, which helps you place the order with the drop-shipper sooner, which gets the product to your customer quicker.
Step 6: Place the order with the drop-shipper. Once the customer makes the payment, you should contact the drop-shipper straightway to ship the product to your customer on your behalf. The drop shipper then ships the order under your company name and address to your customer.
Step 7: Follow up after the sale. At this place, many online business owners failed. Just because your customer has paid you and you have placed the order with the drop-shipper, does not mean that the connection is over. Just the opposite: If there are problems with the order, you are the one that is responsible in the eyes of your customer.
The Benefits of a Drop Shipping Business
So many people who have started their drop shipping business love what they do to earn a living. With the capability to run their own business from home, they are competent to acquire the lifestyles they have always craved—more time with the family and less time commuting to work somewhere else for someone else. If you have always wanted to go into business on your own, consider this model—drop shipping has benefitted many; chances are it can work for you as well!