How To Make Your Own Drop Shipping Business 2020

How To Make Your Own Drop Shipping Business 2020

Every new year brings a zest among people to make resolutions, so why not make a resolution which turns to be profitable. People want to be their boss; they want more, they find clichéd job path outdated and aspire to be an entrepreneur.

In today’s trend, the world is investing more and more in the digital world every day. And, in the eCommerce realm, drop shipping is driving the market.  For budding entrepreneurs, drop shipping is an exceptionally popular business model for making money.

So, let’s learn how to make your own drop shipping business in 2020

What is the drop ship business model?

This business model deals with shipping the product such that the store does not keep the products it is selling. It a retail fulfillment method where the vendor purchases the product from a third party and the latter takes care of shipping but it is done through your website.

To simply put, the seller doesn’t have to stock or ship the product himself but accomplish fulfillment through a third-party vendor. In contrast to the standard retail model, the seller purchases his/her inventory through a manufacturer as needed to fulfill the orders.

In this model, an agency operates without owning or maintaining awarehouse for stocking products. The companies leverage the manufacturer’s or wholesaler’s stock.

Making your own drop shipping business in 2020 is unconventionally alluring as it eliminates the need to invest thousands in a physical business site, instead a gadget with internet abilitiescan help to be a businessman. 

What makes it work?

1. Loads of information available online

A few years ago, the people who conceived this business model were the pathfinders, they didn’t have much useful information. They had to find their own way through the eCommerce realm. As opposed to that, people who are starting afresh now have access to a huge knowledge base online.

They don’t have to make extra efforts for the research, the internet is flooding with the relevant information. The best part is information is free, budding entrepreneurs don’t have to any pay fee to get access to the relevant information, articles or videos on drop shipping.

2. Availability of Technical Tools

Say, we are living in a time where there are no automobiles, people depend on animals like horses, elephants for their transportation needs. It would need efforts and time in abundance to move from 1 place to other. Historically, people who envisaged and implemented drop shipping model, had to go through a lot of research work, demanding both time and effort.

Some of the tools are Google Keyword planner:

This helps the seller to learn about the demands of a specific product. All you have to do is, type in the product you are planning  to sell and Google keyword planner will suggest how often was it searched in thepast month, which can help sellers to decide what to sell and what not to

Amazon Bestsellers

Amazon is an ecommerce giant, even if you don’t want to sell on the platform you can make the best use of Amazon Bestseller sections to learn about the demands of the market. Sellers can learn about the popularity of different products under different categories. Say, these are 6 bestsellers under makeup brushes sub-category.

Google Trends: The way planner suggests, how many times end users have searched for a product, google trends suggest when was it searched. Considering, the above example of makeup brushes in the December, Google trends will suggest the trends throughout the week. • Google Adwords

No matter how good your products, all will go vain unless advertised properly.  Google Adwords works based on the search query performed on the Google search engine.

When a netizen searches on Google, if the search query matches the adword keyword, the search result would advertise as promoted results. Google Adwords brings more visibility to sellers’ business making it an efficient market toolkit.• Disco

Unlike above three, Disco is an integration tool providing a platform for retailers and suppliers to interact and exchange information w.r.t inventory. • WatchCount

It allows sellers to learn about the Watch List of specific items on eBay. Though it is not a precise metric but gives an idea of product popularity. The products with more watches are more browsed-for ecommerce platform.

How to start?

As a budding entrepreneur, you must take note of a few aspects. Though, it doesn’t require large capital investment but requires hard work. 

Selection of Niche

The first step is to select a niche in which you are genuinely interested. If you aren’t passionate about the selected niche, it is possible that you can quit or get bored soon. Focusing on selling on higher-priced goods would harness more profits. Because, in drop shipping domain, efforts invested to sell $10 goods would be the same as selling $1000 goods. 

Other aspects that need to be considered are low-cost shipping, trends of the market using different marketing tools. Having a track of your competitors is essential for a seller to define strategies. Start-ups is not a hobby; a seller must determine the scope of growth. Lesser is the competitions, more are chances of a seller to grow. 

Choose the right supplier

Selecting a trust-worthy supplier is due diligence. Collaborating with the wrong manufacturer can ruin your start-up. As far as the current scenario is concerned, most of the drop shipping suppliers are located overseas, communication is the key to understand each other. Choosing theright supplier involves three aspects, research, communicate and ask for sample orders. 

Create a Brand

The use of social media accounts can help a seller to reach out to the masses and create a digital footprint. Social Media accounts allow sellers to target a large audience at one go. Social Media accounts are a fool-proof ways to advertise without spending an extra nickel.

What makes it worth? Why making your own drop shipping business in 2020 is beneficial?

– Ease to start- The Audience is in abundance- No stress of inventory- Meager capital investment- Less customer acquisition cost- Easy growth- Endless variety – Location Friendly

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