What is drop shipping?
Drop shipping is basically the selling of physical products that you don’t keep inventory for. You’re essentially the ‘middle-man’ between the supplier (or manufacturer) and the consumer.
The best part is that the people that buy from your web store don’t know you’re drop shipping – well, most of the time. I still have to speak to my suppliers about adding a custom label to my orders, but that hasn’t stopped me from selling thousands of dollars worth of products.
Benefits of drop shipping
Before we get into the ‘how-to’ stuff, let’s talk a little about the benefits. It may be something you’d like to pursue.
No need to stock items – The first thing, and possibly the best benefit, is that you don’t keep inventory. I sell paint gallons, spray paint cans, mixing sticks, powerful spray guns and a ton of other stuff, but I never actually SEE the items before they go out to the customer. It’s a great business model.
Mobility – The second benefit is that because you don’t have to keep inventory, you can run the business from any laptop that has internet connection. Once I set up my web store I can actually run it from my iPhone 5. I’ll talk about what I do when I get an order later on.
Product is done – Another benefit is that your job is to find suppliers/wholesalers and market their products as your own. If product creation is something you don’t like to do, then drop shipping already made products might be the business for you.
Low upfront cost – This is also a big plus to starting a drop shipping business. The barrier to entry is usually real low and you only really need three things:
- The web store
- The supplier or wholesaler
- Marketing skills
The low barrier to entry does create room for more competition but if you brand and market yourself the right way, you don’t have to worry about that. Let’s face it, you know more about marketing than many of the e-commerce stores out there.
They’re not using content marketing, social media, email and blogging the way you know how to use it. This gives you an unfair advantage in the marketplace.
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