Hello guys, today I’m going to share with you a business which I found on the internet after hours of searching and passing through those get rich quick scams.
Well, most of us want to start an online business commonly because it's manageable and it doesn't need too much physical work. Dropshipping is a business where you get to choose your product and the price of the product without actually keeping a stock with you.
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A little overview about dropshipping; It requires no cash or cash is optional to start your shop. Sounds good right? Haha. Ideal for students or any broke individual.
So what is Dropshipping?
Dropshipping is a supply chain management method in which the retailer does not keep goods in stock but instead transfers the customers orders and shipment details to either the manufacturer, another retailer or wholesaler who then ships the goods directly to the customer.
So the basic concept about dropshipping is, you find a product from another retailer from (ebay, amazon, shopify, etc..) next step is copy the same product information and sell the product to ebay, amazon or shopify after you sold a product use the buyer’s information to buy from the other retailer or manufacturer.
Advantages of Dropshipping
•Requires no investment
•You don't keep the goods in stock
•You don't have to look for customers
•Anybody can do it :D
Disadvantages of Dropshipping
•Processing orders take weeks
•Finding a product might be a little hard since anybody can do it.
•Competion is everywhere.
For more information guys check Mike Vestil's Vlogs I'm pretty sure you can learn more from him. Please leave a comment or suggestion on what you think about dropshipping :D
That's all guys, Thanks for reading :D
Good writeup. A few more downsides to dropshipping are no quality control ie you don't know what the customer is getting. Items comming from China show inaccurate tracking and packaging is typically ugly and dirty. Also you don't really have any control over your business ie if the supplier stops selling the item or raises prices or runs out of stock your business is done. The better way of doing it IMHO is developing a relationship with a domestic supplier who will ship quickly, provide real tracking and from whom you can actually get quality and interesting products.
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