Hi Friends, thanks for reading and giving feedback to my previous sections.
Today, I am going to discuss an industry which is million-dollar worth industry, i.e. e-commerce and I will also discuss dropshipping in this section.
What is dropshipping and How to start A dropshipping business?
Start Dropshipping Business now.
Dropshipping is a very simple model in the e-commerce industry which has three main components.
- Manufacturers
- Retailers
- Customers
How does this drop shipping works?
Suppose, you are a retailer and you will give product order to the manufacturers once you receive an order from the customers.
The system works in this way.
Here, you don’t need to hold the inventory with you in this dropshipping business.
That’s why this is a low-risk business model which anyone can start with a minimal amount.
E-commerce is a booming and the fastest growing industry in this digitalized era.
According to Shopify, they have more than 6 million websites in 165 countries.
So, you can clearly understand the growth and potential of the e-commerce industry and by dropshipping business, you can take part in this industry.
A plethora of statistics has claimed that in 2018, 85.16 billion turn-over comes through dropshipping.
So, you can understand that this dropshipping industry is very profitable and also gives you a chunk of opportunities to build your own MSI income streams.
If you want to start a dropshipping business, you need four main components.
Niche and product:
You need to find out your own niche where you can sell your products comfortably.
Now, you need to find out a product for that particular niche And your product should not be easily available to the market or the particular area of your niche.
For product purpose, most of the people usually take help from either Alibaba or Aliexpress.
Alibaba is the biggest hub for the manufacturers where you will get many manufacturers who are offering products.
On the other hand, Aliexpress offers only one product.
So, you can only order one product in Aliexpress.
They have the facility to deliver the product in the USA and India.
They are doing pretty well in the USA market and their delivery time is within 14 days.
But for India, it usually takes 1 or 2 months to get the product.
Website:
Once you have your product, you need a website.
A website is basically an online store which you can create on Shopify.
Shopify is the most applauded e-commerce platform, especially for the non-technical people.
You can create your account easily and start selling from day 1.
The charge is only Rs.3000 including your domain, hosting, and other things.
Woocommerce is also there where you can create your own store, but Shopify is more preferable by the people.
Shopify has many plugins which you can use in order to optimize your e-commerce site.
Traffic:
Once you have your website, now you need traffic for your site.
Since these products are least available in the market, so you need to promote or advertise your products which can instigate your customers to purchase them.
For this, you can go for Facebook ads.
Facebook Ads are generally used by the people who are into the dropshipping business.
Facebooks ads also go to other platforms like Instagram and many more.
Apart from Facebook ads, people also go for Google Shopping ads to encourage customers to buy their products. Apart from these ads, influencer marketing also plays an important role in dropshipping.
Influencers are those who have a good amount of follower on Facebook, Google, YouTube, and Instagram.
These people can easily influence others.
Once they will promote your brands or products, you will automatically get a lot of customers to your store.
These are three main components of your dropshipping business.
Apart from these three, there is also one more component which is very important and that is the manufacturer.
Manufacturers are those from whom you will get your product.
Most of the dropshipping businesses are running through Aliexpress.
Apart from Aliexpress, there are also other platforms for dropshipping business.
Even Amazon offers dropshipping business, so you can go and check it out.
These are the dropshipping options that you will get in the market.
why you should choose the dropshipping business?
- This is a low-risk business
- The investment is minimum
- If you invest 1-2 hrs. every day for at least 90 days, then you will definitely get the result.
Again, I am telling you this is a long-term business plan because there is no short-cut way to earn money.
What you need to learn in dropshipping business is basically the advertisement and marketing.
If you can do marketing and advertising for your products, then this industry is the most suitable industry for you.
There are numerous videos on YouTube by many people where you can get an idea about dropshipping and how to set up your dropshipping account and How to start A dropshipping business on shopify and others.
Even I am planning to include a course on dropshipping where I am going to describe how can you create an account on Shopify for your MSI ecosystem followed by How to start A dropshipping business.
If you are in India and planning to start your own entrepreneurship, then think about dropshipping.
That’s it for today.
Don’t forget to leave your feedback along with the comments on How to start A dropshipping business.
You can also go to askvipin.com and check MSI Ecosystem set up, you will get a lot of information regarding this.
Thanks once again, keep reading.