Let’s Talk about : Dropshipping Service Business
If you’re looking for a new full-time job or a side hustle, a dropshipping business can be a good choice. The dropshipping definition is pretty straightforward: It is when a selling company takes orders for a product and those orders are shipped directly from the supplier to the customer. The selling company never takes possession of the goods. This is why dropshpping products can be a great way to start a business.
In traditional retail, a business buys product from wholesalers and stores them in warehouses and distribution centers, tying up cash in real estate and inventory. Dropshipping wholesalers allow retailers to do away with warehouses and inventory.
To learn dropshipping processes, look for companies that help you set up a business. At Shopify, dropshipping can be integrated with the online shopfronts they offer. Using their platform to take orders and process payments your business. You can also sell dropshipped products on large web platforms such as Amazon and Walmart. However, these larger players can have certain standards around shipping, returns, and customer service that you must meet or face penalties. Processing fees can also be higher on these platforms, making it too expensive for all but the top dropshipping stores.
To satisfy your customers, take their orders and collect payment, then instruct your dropshipping suppliers to ship the items. Companies like AliExpress, Doba, and Worldwide Brands, can help you find suppliers through their marketplaces.
There are are benefits to the Dropshipping Service Business lifestyle:
1. Minimal upfront investment:
You don’t have to spent a lot of money on renting space or buying inventory.
2. Outsourcing operations:
There are companies that will help you set up a store, handle order taking and process payments. You focus on building and promoting the business.
3. Low operational expenses:
You only need to keep your storefront running, keep your office running, and pay your suppliers.
4. Flexible location:
Dropshipping is something you can do from almost any location as long as you have an Internet connection.
5. Flexible stock:
When market needs change, you can change with them. You can change with the seasons or due to world events.
But be careful. You are operating a business. Treat it as such. Talk to an accountant and make sure you get your paperwork in order, whether that’s registering as a limited company, incorporating, or operating as a sole proprietor. You’ll also want to make sure to keep your taxes in order.