IS DROP SHIPPING?
Drop shipping is a form of eCommerce online store where a store doesn’t keep the products it sells in stock. Instead, when a store sells a product (at retail price), it purchases the item from a third party (at wholesale price) and a third party ships the product directly to the customer under the store’s trademark.
TO START A DROP SHIPPING BUSINESS?
1. Market Research
To start your own drop shipping business from scratch, you need to identify a profitable niche, to decide on the products you want to sell and to identify your competitors.
3. Administrative Tasks
You also need to register your business with your state and obtain all required permits to start operating.
2. Find Suppliers
One of the most important tasks is to find reliable suppliers who will offer you the option to sell their products without buying them first.
4. Create An Online Store
Last but not least, you need to choose online platform and available domain name, create and optimize your website and advertise it properly in order to bring on the customers.
YOU CAN MAKE MONEY FROM DROP SHIPPING?
With drop shipping, you work with suppliers who are offering you products for wholesale prices, while you set your own retail prices and make profit out of chosen margins. As simple as it sounds, there is a list of strategies and tools that you need to utilize properly in order to maximize return from your drop shipping business.
TO START AN ONLINE SHOP?
To create a successful online store, you need the right product, an attractive website easy to navigate and place orders and a good marketing strategy that will bring you on the buyers.
1. Research Market Demand
You can use a variety of online tools to research a profitable niche and product or if you already have an idea, you might want to investigate market demand and competition.
2. Set Up the Online Store
You need to decide on the platform to use for your online shop that will best serve your business needs in terms of functionality, appearance and user-friendliness.
3. Plan Your Marketing Strategy
Once your online shop is created and all products are filled in, you need to decide on all the marketing channels and activities that you’ll use to help customers reach your website and make a purchase.