Drop shipping is a form of business where a seller provides the customers with products without keeping any stock. It has taken the internet by storm as users can now become entrepreneurs from their homes without managing inventory. Starting a drop shipping business is difficult, much like any other business venture.
You should consider the following steps that cover this venture’s financial and business aspects.
Understanding the Business Model
Drop shipping is an order-fulfilment method that allows a store owner to sell products directly to the customer without having any inventory. A third-party shipping service ships the product to the customer. You get paid the retail price (set by you), and you pay the supplier the wholesale price, and the excess money remaining is profit for you!
Why Choose Shopify?
Shopify is the best seller platform as it is functionally convenient for your drop shipping business. A superb example of this is Oberlo, which is a drop shipping tool that functions only for Shopify.
Moreover, Shopify has many user-friendly features fundamental to building a business and not a simple website alone. Shopify also can integrate a plethora of third-party apps to scale your store. Moreover, it eradicates barriers to building stores, such as communications with suppliers.
To top it all off, Shopify is highly user-friendly. Not only does it consist of a large variety of essential features, but it is also straightforward to use and eliminates many tedious steps that are otherwise required to build an online business. Think of it as a simple All-in-one package for your drop shipping business.
Shopify is an excellent platform for all the reasons mentioned earlier, as it prevents you from getting lost in the complexities of creating an ecommerce store. It saves you a lot of time, which can be invested in other important aspects of building a drop shipping business, such as marketing strategies and search engine optimizations.
First Step: Brainstorm and Research
Creating an online business doesn’t just depend on what you want to sell but depends on the market’s demands. It is where competitive research in your interests is integral. Find out what sells. What could you do differently to give you the competitive edge in effective marketing? Learn about what could give you the upper hand against your competitors.
Second Step: Create an Account With a Supplier
You can find suppliers on websites such as AliExpress, Alibaba, and Megagoods. You can then integrate a supplier directory into the backend of the web store that you will build.
Third Step: Create Your ECommerce Store
This step is the most crucial as you are creating an appealing, functional store where customers will be doing their shopping. It should look eye-catching and professional and have appropriate formatting and functionality. Shopify is the most convenient platform to get started for anyone starting.
Fourth Step: Go through Shopify Apps
As mentioned earlier, Shopify has made running a drop shipping business as convenient as possible by including apps such as Modalyst, Printful, Spocket, Syncee, etc., simplifying tiresome processes.
Fifth Step: Market Your Store
Marketing is the only way to increase traffic to your web store to ensure your business has a broad reach. It is one of the most integral steps to running any successful business, as the more people log onto your website, the higher the chance of one of them making a purchase.
Drop shipping businesses are a great way to kickstart your entrepreneurship from the comfort of your home. Shopify is an excellent platform for creating an online website for drop shipping as it is user-friendly and packed with functions that save you valuable time you can spend expanding your reach.