Starting Dropshipping Business is a great online business that you can start with low investment and it will allow you to make a good profit by simply selling a product online.
In this article, you will get the exact Business Plan for dropshipping which helps you to start your journey in dropshipping business.
Dropshipping is a process where you can retail product without paying for inventory, the wholesaler stores its own inventory and once you will get the order for any product you can send the customer’s order and shipment details to the wholesaler and after that they will send the product to the customer even you don’t have to worry about the shipment methods, once customer get the product you will get the commission that had already decided.
Start Dropshipping Business in India | Complete Business Plan| 100% Profitable
The main advantage of the dropshipping business is that you didn’t have to worry about the inventory and shipment methods.
# Advantages of Dropshipping Business
The dropshipping is a great business opportunity here are a few reasons that prove you should consider dropshipping as a business.
1) Low investment
Dropshipping is one of the easy to start business ideas; you don’t have to invest in inventory.
2) Convenience and efficiency
Successfully opening and growing the e-commerce business takes a lot of work, don’t worry about the fulfillment and contribute your time to making a business plan, customers service and operations.
You can operate your business from anywhere you just required a computer and internet connection.
4) low-risk business model
dropshipping business is a low-risk business model when it comes to product cost you just have to pay the product that you sell to the customers, you don’t have to build the inventory or physical stores. Also, you don’t need to worry about the maintenance of the unsold inventory.
You don’t have to pay for the cost of employees, packaging and shipment product; it is a great opportunity for entrepreneurs who want to start their own business with low investment.
# Dropshipping (3 Steps) Business Plan
Step1) Choose a Dropshipping Niche
Find out the popular product in the niche market example headphone set is a popular product in the mobile market so you can easily sell the headphone in the market by simple promoting with your Marketing Strategy.
Choosing the Niche is the first step to start the dropshipping business, due to the rising popularity of the dropshipping business it is harder to find out the Specific Niches, but there are newly arrive product has the demand in the market, therefore, the opportunity for the dropshipping business is endless.
The Common Mistake belief about the dropshipping is that you are successful in any niches, but that is not true if you choose the product or niche that already saturates by top brands then you are going to face the uphill battle in your newly started dropshipping business.
Step 2) Finding a Dropship Supplier
Dropshipping suppler is a most important business partner, finding dropship supplier is a harder task for many E-commerce Entrepreneurs
You rely on the supplier to keep the product in the stock with good quality and ensure that the customer getting their order in a timely manner.
Not all product suppliers are offering Dropshipping Service therefore while finding supplier makes sure that the product supplier is dropshipper.
Find out a supplier that has a year of experience with dropshipping, look for the supplier who will give you a fast drop shipping service with the low charges
Apart from service and charges also look for the product that supper is providing it must be of good quality.
Step 3) Choosing a Selling Platform
Once you decided the Product and Supplier the next and main task is the choice right platform for the product sale for making money.
Choosing the right platform for business is deciding your business success, you can start your own Independent Online Store.
Moat of drop shipper chooses the online marketplace like Amazon, EBay, Flipkart etc because it is easy to start selling on such a platform. And this type of online platform already has a huge amount of client base and traffic so they are most trusted platform, therefore, using such plus points you can easily sell your product and make Significant Money from them.
Here is some most popular online marketplace that you can consider for the sale.
Amazon: Amazon is the most popular online marketplace that has 300 million active user and more than 2 million sellers that made more than RS 7,034,500 on Amazon.
You can consider Amazon as an online platform which is the most trusted online marketplace.
Flipkart: Flipkart 54 million members, about 1 million active sellers, and about 32 million active buyers. flipkart has established itself as a more trendy online marketplace with a focus on arts, crafts, homeward, and handmade goods.
EBay: eBay has 175 million active users and about 1 billion of the products, eBay charge the listening fees and sale fees which is less than 10%, eBay is a standard retailing online marketplace.
Related Business Ideas.
# Marketing for Dropshipping Business
Use the Marketing and Advertising Strategy to introduce your product the potential customers, there is much Online Marketing Service such as
- Search Marketing
- Social Media Marketing
- Content Marketing
- Email Marketing
- Advertising YouTube Channels
You can choose any online marketing service to promote your product.
Here we describe some online marketing services.
Social Media Marketing
Social Media is the best and efficient way to reach the customer’s create a page on social media and keep Engaging People using the creative post that contains your product information
Additionally, you can run the Advertising Campaign on the social media to build the client base, once you have the potential client base you can easily sale any product using social media network.
Advertising YouTube channel
You can create the YouTube channel on which you can promote your product with a creative and entertaining way.
Most people prefer video information than that of writing content.
Apart from all the Marketing Strategy, it is recommended that Study the competitors how they ate planning to promote their product and try to make your sale by using different marketing strategy.