The invention of powerful online tools has resulted in innovative eCommerce platforms that offer many advantages to businesses, and in addition to providing a significant geographic reach, the online world also offers faster buying and selling possibilities. Building an online store eliminates the need of physical company set-ups, which makes it very easy to start and even manage a business and because there is a direct reach, customers have the freedom to view products from different vendors from the comfort of their homes.
Is Dropshipping Worth the Effort?
But if you are looking to free up your time so that you can focus all of your efforts on customer acquisition better still, cut operational costs and be able to compete with retail giants, and do so on a limited budget, you may want to try launching a drop shipping business. One of the critical elements of starting an online business is to have products or services to sell and you can either create a product or outsource it from a manufacturer and then ship out the goods to your customers, assuming they buy what you’re offering.
Imagine investing a chunk of your hard-earned money to buy stock in bulk yet not manage to move any products, let alone generate any revenue? It is an expensive and risky strategy, but the good news is that you can easily sidestep such hassles with drop shipping as it effectively provides one of the fastest, easiest, and low-risk ways of conducting business online.
Why dropshipping is so popular?
The drop shipping business model is quickly growing in popularity because not only can you start it from the comfort of your home but also once you build a reliable supply chain, you don’t need to keep the inventory in your possession or handle the order process. Because you are only required to purchase items from a third-party supplier or manufacturer, who then fulfills the order and ships it, you don’t have to deal with hassles such as:
- Worrying about outsourcing products or ordering them in bulk
- You cut the involvement of costly intermediaries like cargo shipments, export-import agents, banks. etc
- High warehouse rent problems because the products remain with the manufacturer until they’re purchased
- Preparing orders, packaging, or shipping products
- Putting up-front capital investment to buy wholesale products that you aren’t even sure will sell
Understand that while you have to work with manufacturers and wholesales, not all of them offer dropshipping services. So, your main job will be to find an extremely lucrative niche, have a great product or service in mind that can sell well in an already saturated market, then partner with suppliers who are willing to display their products in your online store.
The great thing is that the moment an item is ordered from your site, the supplier will then ship the product directly to your customer. Making dropshipping the most convenient way to start a lucrative online business that provides customers more products in you e-commerce store.
What’s more, you can use e-commerce software such as Offerer.com to simplify creating and maintain an online store. Such software cost only dozens of dollars monthly and make you able to create a store for free in a few minutes.