What is Drop Shipping All You Need To Know
Drop Shipping is the hot cake of recent times. You have obviously heard of it and have seen several people just being millionaire by drop shipping. What does dropship mean? But are all those fancy videos and articles true? Are people really making thousands of dollars doing just by it? What are the real insights in it and what can a beginner really do in drop shipping?
What is Drop Shipping: Drop Shipping is basically a process of making money by selling staffs to people which are manufactured by some other companies or seller buying them from the internet. So if a person named Steve(suppose) sells people socks which he buys over online or he imports it from any other company(he does not make it himself) the process is called drop shipping. Let say a Chinese company is making phones. They are putting it on the internet and they want to sell at least 10 phones to a customer. Now a regular customer won't need 10 phones all together. So again a drop shipper buys those phones and later he sells phones one by one by making a little profit over every sell. Now this is another scenario of drop shipping.
Scopes Of Drop Shipping: Drop Shipping can be a really profit making business. As you are buying a ready made item and then selling it to customers, you can set a profit on every sell. It can be as little as 10$ and over 100 sells you can make a whooping amount of 1000$. Now here comes the tricky part. You have to make sure there is available stock for the product and you are getting it regularly.
Social Media Myths: Now coming to the social media side of drop shipping, you can see many teenage drop ship millionaires. They are most likely selling courses on the internet in which they are going to teach you drop shipping. Now there might be some legit drop shippers who have made large amounts of money by it, but some of the content creators you see who are claiming to be millionaires might be fake. It is suggested to verify something before buying it. Also there are free courses on YOUTUBE about drop shipping.
Products and Opportunities: Some products will sell better than the others. For example ladies beauty products are going to sell better and faster. Now if you want to sell fast you have to choose a winning product. Also don't expect to be a millionaire overnight. You have to accept reality and wait for your business to grow. If you know any drop shipping experts in real life, it would be better to contact them first.
Pay first or later: Some customers will prefer to pay before they get the product while others will prefer to pay after receiving the product. So some customers will pay on the mode cash on delivery or COD. Now problem with this is sometimes when the drop shipper is not stocking the product or he is directly buying and delivering instantly from vendor to customer, he does not have the money. So he orders the product after receiving the money from the customer. Now on COD mode he can not order the product if he does not have some money already. It is preferred to start drop shipping with some amount of money.
Best Platforms: In case of drop-shipping there are several platforms. Now the best platforms are SHOPIFY, ALIBABA, EBAY etc. The drop-shipper has to check those platforms and will chose the best suited for business.
CAN YOU START DROP-SHIP WITHOUT MONEY: Coming to the interesting part, can anyone start this business without money? Suppose a person wants to drop-ship some products to a customer. Now after getting orders he can order it from vendor and send it directly to the customer. Now the problem is some of the drop-ship platforms (like SHOPIFY) are not free. You need to pay a little amount to continue business on those platforms. Also some products will need marketing. In order to do that you need to create ads and run them on social media which will cost a certain amount. So it is preferred to start the drop-ship business with a bit of savings.
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