How do I start an eCommerce website without a big inventory?
Learn how you can do so via drop shipping in this online course.
This is a business model that allows you to work from home and earn passive income, while at the same time building a big brand for yourself and selling real physical products.
So why isn’t everyone getting involved in dropshipping already? Why do so many people still choose to make money as an affiliate marketer instead?
The answer is simple: a lot of people still don’t know what dropshipping is, or how to get involved in it. Of course this book is going to change all that and help you to understand what dropshipping is, why it’s so beneficial and how to get started with it.
By the end, you will be running your own dropshipping business – making money by selling products with your branding on and without having to spend any money upfront or take significant form of financial risk.
Dropshipping is technically a ‘fulfilment model’. Fulfilment in a business term of course means delivery, so in this sense, drophipping is the manner in which orders are delivered to customers.
Normally, selling a physical product means that you need to buy numerous items and then sell them at an inflated price. The way you would normally do this is as a reseller. Here, you would buy wholesale items (inventory bought in bulk at a discounted price) and you would then sell it on at an inflated cost and keep the difference (your profit margin).
The problem with this model is that you need to make a big investment in the stock first of all and then that you have to deliver the products to your customers. This means you’re taking a financial risk by ordering the stock in advance (if you make zero sales, then you’ll have lost out on a lot of cash). At the same time, it means you need to not only pay for the shipping but also handle all the administrative tasks. You’ll need to constantly take stock of your inventory and you’ll need to refund customers for deliveries that don’t arrive.
In short, it’s a lot to take on for an individual hoping to run a business from home in their spare time.
Dropshipping changes this because now the wholesaler is handling delivery and they don’t require you to order in bulk.
So simple: you list the items for sale in your online store just like you normally would and then, when a customer orders them, you pass that sale on directly to the wholesaler. They then send out the product on your behalf and make sure it reaches the buyer and you get the money!
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The Comply Socially series is licensed under CC By 4.1 International License from Eric Schwartzman and socialmediatraining.com.