How to start a Dropshipping store?
For a while now, dropshipping has been the talk of the town. It is perhaps, one of the most popular businesses among young entrepreneurs and millennials. Because to start a dropshipping store, you don’t need much investment. Anybody could do it; there is only one condition, your marketing and research skills must compensate for the lack of your financial capabilities.
Here we have jotted a small dropshipping guide for beginners to help you start the dropshipping business.
What is a dropshipping store?
Dropshipping is a kind of business where you source goods from third-party suppliers or wholesalers and sell them on popular eCommerce platforms such as Amazon or eBay by setting up an online store. When a customer orders a particular item from your store, the third-party fulfills the order, leaving for you a pre-decided commission. Dropshipping is highly cost-effective and spares you of all the hassle of warehousing, packaging, product listing, branding, delivering, to name a few. It enables you to focus all your zeal on significant business areas such as product research, supply and demand, price trends, customer acquisition, and more. A dropshipping store gives you the power to compete with retail giants, with established markets, that too, on a budget.
Sticking to a niche.
What to sell is always a big question initially when you start a dropshipping store. The market has millions of products and buyers; what will you sell in the sea of dropshipping trade? Well, as per some of the best drop-shippers in the market, you need to sell what you’re genuinely interested in.
Picking a product as per the demand and profit margin could also be a smart move, provided that you know the product exceptionally well. Because if you don't know what you are selling, people aren’t going to buy.
Shipping costs can make or break a dropshipping store.
Another price factor you need to consider is the low shipping cost. Albeit the wholesaler or manufacturer will bear the shipping cost, it is best to keep the shipping cost minimal, if not zilch. You don’t want your overall product price to cross the price threshold set in the market and end up getting no sales in your dropshipping store because of overpricing.
Do competition research
There are multitudes of other dropshipping stores out there. Once you have settled on what you are going to sell, you need to get out there and see who else is selling the same products. You must study the keywords your competitors use in their descriptions, the array of products they are selling, and note down their selling prices. This will help you place your product to the right audience at the right price.
Market your dropshipping store wherever possible.
If you don't promote your page yourself, who will? Create a social media plan or a calendar and keep as much active on social media as you can. Post all about your store, the products you are offering, discounts available, and so on. This will give you an increased reach and make your dropshipping store visible to new audiences, who then can be redirected to your dropshipping store through a clickable link.
Improvise, adapt, and advance.
Consistency is the key. At first, you won’t be getting much traffic to your dropshipping store. But if you genuinely try to offer customers the best of the products at competitive prices, your store is bound to prosper.
Finally, there just one more thing you could do. If you do not wish to be bothered by the tedious process of setting up a dropshipping store, you can simply hire one of the many dropshipping companies such as Dropshipultra.com, which could set up your store for you. Dropshipultra.com can not only set up a store for you but also look for the best suppliers, setup listings, optimize product pages, and delivering the product right to your customers' doorstep.
Leave behind the hassle of creating a store and doing it on your own. It is wise to save time and hire someone who has created innumerable dropshipping stores to become successful faster.