Dropshipping Companies have become the most common form of business model or structure which many retailers are following in recent days.
In India, there are drop shipping online stores that are accessible by everyone and are liked by many. It is a good profitable business that anyone who can manage the business can start easily, you can contact Dropshipping Store Development Company
Let us know what is dropshipping store is.
Dropshipping store is a kind of business where you I.e. retailers deals with the selling of products online only. There is no actual physical inventory maintained by you. Once you own an e-commerce site, customers order the product, and you(retailer) will either contact the manufacturer or another retailer or wholesaler or supplier for that particular product. They in turn ship the product directly to the customer under your(retailer) business name.
Retailer(you) owing to a dropshipping business model –> Customer looks for the specific product –> Product ordered by the customer –> Retailer(you) receive the order –> Contact either the supplier or wholesaler or manufacturer for that product –> The supplier or manufacturer or wholesaler packs and ships the product to the customers’ location under your business brand name.
How do you get the profit from owning an online dropshipping store?
Dropshipping is one of the most money-gaining business models because you will not be responsible for packing and shipping the product to your customer. So, deducing such costs will definitely be profitable for you.
Let us discuss 10 simple steps with which you can start your own dropshipping store:
- Understanding the dropshipping business model or structure:
Firstly, you need to acquire and gather all the related information regarding how the dropshipping model will work for you. You need to know all the pros and cons of every aspect. You need to make sure you have a stable and speed internet connection and a good laptop or PC with which you can start your dropshipping endeavor.
Also, you need to have all the market knowledge related to dropshipping business and get in touch with Dropshipping Store Development Company
- You need to pick up a beneficial niche:
The product which you pick up is going to bring profits. So, you need to be attentive in choosing the right kind of products. Below are some of the search engines on which you can search for trendy and profitable products:
- Google trends
- Google Keyword Planner
- Trend hunter
You ought to choose the kind of products you are interested in or passionate about, such as what are products you love and would shop for? Do you collect any product as per your own interest? etc.
After picking up the profitable niche, you must also see the products demand on other sites and the statistics of the product you have chosen. This research and analysis would tell you more infographics on that product. There is an umpteen number of products. So, select the best one.
- Pick up the supplier:
You need to choose the best supplier in your area who does the packing and shipping in time and is not fraudulent.
- It is always best to do some analysis on the selection of the supplier.
- You can order any sample product from the supplier and you need to observe the quality of the product. Once the supplier has delivered a quality product and the shipping part is done in time, you can choose that supplier for your business.
Your customers would believe your online business store only if the quality of the product is good and the product is delivered in time. Is it not?
- Supplier chose via the competitor
If your co competitor is also running a dropshipping business, then it is an ideal way to order any product of your choice from them. As soon as you receive the product, you can trace the return address of the supplier from the address mentioned on the product package. This is an easy method to find the best supplier if you are unable to find the best one.
- Trade exhibitions:
You can attend as many trade exhibitions as you want so that you could know more people. Getting to know more people or contacts would be beneficial for your business.
You can gather information regarding the upcoming trade shows from sites such as SaleHoo, WholesaleCentral.
- Legal agreements:
Legal agreements are mandatory to justify the business side because it is an important step that every dropshipping business start-up must do.
Once you find a trustworthy supplier, go for a legal agreement.
- Check out the rules and policies according to your location. Terms and policies vary sometimes even from state to state.
- There are three kinds of liabilities under which you fall.
Firstly, sole ownership – You would be responsible for all the legal proceedings. Sometimes, there might be a risk that puts your assets under stress. Sole proprietorship – is not so protective at all times.
LLC – Limited Liability Company – If your business gets registered under LLC, then it is a kind of relief for you. Your company gets a minimal amount of protection.
C Corporation – This legal registration covers the complete liability protection of the company. Many companies get registered themselves under this category.
- Acquiring Sales tax id:
You can start running your business once you get your sales tax id or so-called license. This is mandatory in order to run your business legally.
- Marketing your items:
Now, you have found your supplier, you have got your dropshipping online store ready and also you have your sales id. The next step would be marketing your items. So, once you start marketing your products, many customers even those who are remote will come to know about your products, and hence the supply chain management would work.
Your marketing strategies must be such platforms where people tend to spend more time on social media like Facebook, Twitter, etc.
- SEO friendly:
It is also to be noted that your online storefront must be SEO-friendly. The site must appear on search engines and bots without any problems so that users do not face any problems and also, they don’t get confused.
- Launch your dropshipping business:
Ultimately, after confirming and completing all the above steps, you can finally launch and activate your site and account. And once you receive the order from the customer, it can be directed to the supplier, and then the product can be shipped without any hurdles to the customer directly under your dropshipping business name.
As we all know Dropshipping Store Development companies have grown rapidly everywhere in India. Many Dropshipping Companies have emerged such as Swiggy, Zomato, Flipkart, Amazon, Myntra, etc. The product ranges from food to any kind of accessories, dresses, or equipment.
We have discussed the steps above which you can adopt and try to implement if you are planning to start your new dropshipping business. Get in touch with Next Big Technology All the best!