05. Start dropshipping

 05. Start dropshipping

Did you know that you can be an online seller without needing to stock up on products? Dropshipping lets you sell items using a third-party retailer that completely manages the order fulfillment process. All you have to do is find the right products for your business and connect with a supplier. This also means that you can begin a dropshipping business right away and start accepting customers as soon as you integrate your dropshipping products into your website.

Pros

• Starting a dropshipping business to make money is a quick and effective way to generate revenue. It requires minimal overhead costs, and all you need is a good online store and a reliable dropshipping supplier.

• You can test selling a wide variety of products without getting stuck with unsold inventory, so you can really take risks or test different product niches, and what sells best. At the same time, it's easier to scale and grow a dropshipping venture because you're not restricted by inventory storage space.

Cons

• You may have to contend with low-profit margins, as dropshipping suppliers often charge more than a wholesaler for the same product.

• As you never physically receive or handle the products you're selling, you have to trust your suppliers quality guarantees. Sometimes there is a mismatch between what they deliver and your customers expectations and you'll have to handle that.

• With dropshipping you're completely dependent on the supplier, from the quality of the product, to the shipping times and delivery methods - so if any of these don't meet client expectations, you'll have to handle them.