Day: May 27, 2018

Will Dropshipping Work for You? Some Ecommerce Success Stories

Most people are looking for ways to increase their cash flow while spending as little time as possible working a second job. The number of people engaging in the side hustle is at an all-time high, and enterprising entrepreneurs are doing everything to generate that second income: picking up trash, walking dogs, tutoring, delivering goods, renting out their car, making healthy cat treats, and, of course, embarking on an ecommerce business!

If you have been thinking about breaking into the ecommerce market, but don’t want to invest too much money into the process, dropshipping may be one way for you to dabble without investing too much startup money or time.

What is dropshipping?  Dropshipping is a fulfillment method in which an ecommerce business does not keep products in stock. If your online store wants to sell a product, it purchases the item from a third party and has it shipped directly to the customer. As a result, there is little to no startup cost or effort, except for developing your ecommerce business website, choosing from the many dropshipping suppliers who will shoulder the burdens of warehousing the product, shipping it, and supervising the employees required to pick and pack your orders. It will allow you to avail yourself of thousands of products you can sell to potential customers.

Why would I want to engage in dropshipping? The most obvious answer is that it doesn’t require you to develop, make, or house the products you sell. You do not have to purchase the raw materials required to create your product, and not buying or managing inventory means your initial startup fees and overhead expenses are quite low.

You can run your business from home, using a computer and internet, allowing you the freedom to work around your family, home, and primary employment obligations. You will not be tied to one location, allowing you the flexibility and freedom to make money wherever and whenever you want. Scalability for many businesses is a problem, but for dropshippers, you don’t have to worry about an increase in sales because you do not need to increase production. You can grow your business quickly and efficiently, with no concerns about product development or the logistics of shipping.

Does dropshipping work? Running a successful business requires time, effort, and energy. Even if you are not making the product, there will still be things you must do to bring your dream to fruition. The same is true for ecommerce businesses, including starting up your dropshipping company.

You will need to invest time in developing and maintaining a business website. For those with little internet or ecommerce experience, this may be more difficult than those who are more technologically savvy. You will need to learn about the many useful apps that can be added and set up payment platforms. Your dropshipping company will need well organized visual images and a plethora of products that consumers want, as well as suppliers who can provide them. You will want … Read More