What Is DropShipping Business | Earn Passive Income With Drop Shipping!

4 Steps Drop shipping Process…

1. Step1:-Find the products from various wholesale suppliers online
2. Step2:- List that product on your website at a price you set.
3. Step3:- When someone places an order on that product your customer pays you the retail price you’ve set and you make a profit.
4. Step4:- Then you’ll place the order with your supplier at wholesale price and have it shipped directly to your customer.

Key Features Of Dropshipping Business:-

Drop-shipping is one of the most profitable passive income sources you
will ever find online. With dropshipping, you can find trending products
in the real market which you can then sell online to customers around
the world. 

 

You can sell products in a variety of dropshipping niches,
from fashion to home decor to beauty. Here are some key-features of dropshipping business…

• The magic in dropshipping is that you create your own business and
  control how much you charge for the products. In Dropshipping you have
  the most control over your earnings.
• Drop-shipping is really easy to scale because you can hire virtual assistants as your order volume increases of course
• There are some challenges associated with drop shipping too such as higher potential for competition.
• That’s
  why most of people advice you start off with finding a niche audience
  like baby and mother or cat lovers so that you can work with less
  competition. 
• Drop shipping is very easy to learn but there is still a learning curve
  and you will experience challenges along the way although mistakes can
  become learning opportunities.
• While there is a significant
  advantage over traditional e-commerce in terms of capital investment,
  drop shipping is not free, you have to spend money to drive traffic,
  market your products, handle returns.
• There is no overnight
  success and it is not a get-rich-quick plan. Drop shipping still
  requires you to do consistent work for your store. True, you will have
  to spend less time than a traditional e-commerce business, but it will
  not be successful without your hard work.

Benefits Of Dropshipping Business:-

The dropshipping business model has many benefits and opportunities for those who want to start an online store business but are stuck on investment sourcing and management. Here are some key benefits for beginners who want to start their online journey of buying and selling goods.

1. Dropshipping Business Is Easy To Get Started:- 

Dropshipping is very easy to start because start-ups require very little investment as compared to other types of retail business models. Here you don’t need inventory, warehouse or staff to assist you. You also don’t need to worry about the stocking or shipping process.

In other words you can start your business today or in weekend. In fact, you can set up your online store in a matter of hours. This is definitely a big plus, especially since you hear stories of people working for months and starting your business wondering what could happen if you started today.

All you need is some basic knowledge which is pretty easy and some tools and resources that will help you set up and run your store. Here you need incredibly low investment, you also don’t need to have an established business entity.

2. Dropshipping Doesn’t Require Inventory Upfront:-

The way dropshipping works is that whenever someone places an order on your site you can immediately buy the product and have it shipped to their address so that you don’t actually have any sort of inventory in your warehouse. 

And if you don’t require inventory upfront then there is no need of managing any warehouse and figuring out which product works best.

This is a good way to remove the risk of putting all the money up front for start-up costs like inventory, warehousing. you can test many products without investing in.

People are attracted to the most running ads, and these ads set them up on your site so you can easily find your winners and then drive them to drive more traffic and sales.

3. Dropshipping Is Scalable:-

The dropshipping business model is scalable because as you scale your business you don’t need to change anything and you have a huge potential for testing and finding thousands of winning products. 

As you grow, you need to work more on sales and marketing and running more ads, but your daily activities to process more orders will be the same as before.

Since you run your business on a laptop or PC, there is no increase in your infrastructure costs as you scale. So you can put all your time and effort into marketing your store, the more you focus on promoting your business and providing the best experience to customers, the better it will be for you.

4. Dropshipping is flexible:-

One of the biggest benefits of dropshipping is its flexibility, as you are your own boss so you can set your own rules like working hours, location, products, etc.

Here you can work from anywhere, you just need a laptop and an internet accessibility, and you can choose your work time which is most convenient for you. It is a perfect business for those who want to be their own boss as well as have the freedom of time.

Dropshipping also gives you the flexibility to choose and list new products whenever you want, you can choose your marketing strategies, adjust your job hours and holidays.

You can also use a number of automation tools that Will automate the whole process to generate passive income while you sleep or go away. There are huge possibilities and very few limitations. 

5. Dropshipping Is Simple To Learn & Manage:-

Dropshipping is a beginner friendly business, as it is easy to learn because you are focused only on sales and marketing, so there is very little hassle, no need for you to manage staff or rent warehouse space etc.

If you are not good enough at setting up an online store and adding payment gateways, you can outsource this task to a freelancer who specializes in the task.

You can use the Overlo tool to find trusted suppliers and get everything set up. Once it’s setup and running, all you need to do is focus on managing your online storefront.

Disadvantages Of Dropshipping Business:-

Although dropshipping has huge earning opportunities and product testing capabilities, still it is not beyond from some disadvantages. The dropshipping business model also includes some issues and limitations that you should be aware of.

1. Dropshipping Gives Less Control Over Quality:-

As because you’re ordering a product from someone else, it means you can’t actually see it, hold it in your hands, and it’s up to your standards level that you want to make sure that the product Must be good and it’s shipping to the right people, but whenever you outsource that and you let someone else do it for you, you really lose a lot of control.

There are supplier errors, although uncommon it is inevitable that a supplier will accidentally send the wrong product to your customer.

The key to fixing and resolving this problem is to order some samples of the products shipped to you so you can see the quality and make sure it gets there on time and looks good.

Also you can use those products to take photos and put those photos on your site and also use the photos for advertisements

2. Dropshipping Take Long Time For Shipping:-

Since many drop shipping suppliers are located in China. Shipping
times are generally longer, this can take 3-4 weeks from China to US, and in Amazon’s 2-days fast shipping culture, 3-4 weeks really annoyed the customer when products aren’t there in a week.

Therefore, additional customer support that you’re going to need with those longer shipping times. with some customers switching off ePacket to
make it easier, although some orders may be easier to deliver in two
weeks, but usually if you make your shipping time clear during the
purchase process. 

Many visitors appreciate clarity, especially if you’re selling an item
in a location where delivery time is a little less important.

Now a great way around this is that you actually ship products from US or Europe based suppliers who can ship your products within 2-3 days. Overlo can also help you locate drop-ship suppliers located in the US and Europe.

3. Dropshipping Needs Additional Customer Supports:-

Dropshipping requires more customer support due to longer shipping times, and you end up with people asking for refunds if the quality of the products is not good enough, and this can be lot more higher for dropshipping businesses in comparison to other retail business.

You are just the store owner and you don’t have a lot of control over the quality of products or shipping time, it is not easy to sort orders and handle customer when orders go wrong or suppliers fail. 

You have to take the blame when your customers complain. If your suppliers have issues, taking responsibility and absorbing mistakes on behalf of your suppliers is part of the dropshipping business model, so you have to accept it.

If
this happens don’t take it personally and handle the return like a
professional either order a new product from the supplier Make or offer a
full refund.  

4. Dropshipping Has Slim Margin :-

In the initial stage dropshipping business marketing cost will be high and profit margin will be slim. And here some niches are very competitive, where you have to be satisfied with small profit margins.

But, if you choose the right niche and market for the target audience, you are more likely to get wide margins. For this you have to optimize the ads to increase the sales in high volume.

There isn’t really a discount when you order in bulk from their suppliers, but most store sellers offer great discounts on bulk orders at their stores, so you’ll have to do the same to beat competition. So your profit margin gets reduced anyway.

5. Dropshipping Has Some Order Processing Issues:-  

Dropshipping seems to be very simple but still you might run into some problems, because different suppliers use a different shipping solution.

Depending on your shipping setup, the cost of shipping can be prohibitive, especially when shipping multiple products. Different suppliers have different processing and billing structures that may be tricky or confusing.

Therefore, you should not work with too many suppliers and don’t add too many different products on your store which can create confusion and problems.

Automate Dropshipping For Passive Income:-

Dropshipping business needs your consistent involvement for managing and marketing your store, here you have to constantly work on searching and listing new products, finding trustworthy suppliers, photo creation, content creation to educate your customers etc.

You have to have a plan to drive traffic to your store, create quality content for your store like attractive photography to be included in the product picture, great posts for your blog, your visitors love to know more about your products.

But still there is a way by which you can automate your whole process and convert this active income source into a passive income stream.

So now you need to utilize some tools and resources that will help you do that. So there are some tools and resources to consider.

Use Overlo Dropshipping Software:-

You can find suppliers on your own, but you can end up spending a
lot of time researching and negotiating suppliers to guarantee your
customer satisfaction another option is using a tool like overlo.

Overlo,
with a few clicks gives you access to millions of products to sell and
has dozens of features to make your life easier like monitoring
inventory levels automatically, calculated profit margins, fulfilling
and tracking orders, monitoring shipping status measuring delivery
performance, etc.

Overlo also helps you partner with vetted trustworthy suppliers of great quality products faster shipping times and awesome customer service with thousands of different products to choose from.

Once you start growing you don’t have to worry about managing inventory, packing or tracking, which means you can focus almost exclusively on marketing promotion and merchandising, you have Instant access to millions of products that suppliers are constantly researching to determine what’s trending and what will sell.

Utilize Shopify App Store In Dropshipping:-

Shopify App Store provides all tools, plugins, and marketing solutions for automate your dropshipping business so that you can earn passive income while you sleep.

• The best tools and software you gonna find here…
• Email, SMS marketing Tools.
• popup subscription forms
• latest products reminder tools
• Hurry Up timer app
• Discount coupon setting apps
• Product Review Apps
• Customer Service and engagement Tools.
• Multiple channel adding such as Facebook, Instagram, amazon, etc.

So here you can find hundreds of apps and software and you can use many of them at no cost, and most of them provide you free trial from one week to one month where you can test any app and choose which app you want to continue.

Outsourcing For Dropshipping :-

As Dropshipping need active participation in different day to day activities, so if you wanna make it a passive income stream, you need to outsource active worker for these task those are expert in these types of activities. 

You can outsource these experts here…

• Content Writer:- Educate your customer by sharing useful information and benefits about the product using Shopify blog option. no need to write it yourself, outsource content writer for it.
• Products Photographer:- For grabbing eye catching images, you can hire freelance photographer.
• Products Video Creator:- You also can outsource very professional video maker on freelancing sites, you just need to send them some samples of your products.
• Product Research & Listing Expert:- You can delegate this task to a expert eCommerce products researcher for finding trending products.
• Virtual Assistant For Customer Support:- You can outsource any type of virtual assistant for customer supports and pay them weekly, monthly, etc.
• Virtual Assistant For Order Fulfillment:- You also can outsource virtual assistant for this to.
• Facebook & Instagram Ads Campaign Manager:- Yes, you can find a Facebook, Instagram advertising campaign manager on many outsourcing sites, they will create and run your campaign or guide you to set up the campaign if you want to set it up yourself.

The best outsourcing site for finding professional for dropshipping business is FIVERR. Here you can find all the services you want for your dropshipping business starting from $5 only.

Getting Started With Dropshipping Business:-

So now if you have made up your mind to start a dropshipping business then you must be thinking to yourself that how do I get started, here is a 5 step process to do so…

1. Create Shopify Store:- Join Shopify eCommerce Store creation platform with 14 days free trial, Install your favorite store theme, you can use any Free or Paid theme from shopify or import your own customized theme. 
2. Customize Your Store:- After installing your favorite theme just customize Banners, Menu-bar. and connect your custom domain
3. Install Overlo App:- Go to Shopify App Store and Install Overlo App, on your store.
4. Products Listing:- Find the products you want to sell from the Overlo App and add them to your store. customize title, description, and pricing etc.
5. Enable Payment Gateway:- Shopify Payments is a great default option if your subsidiary enables
   over a hundred payment gateways integrated into one of the countries or a
   few other gateways, such as PayPal, Apple Pay, Amazon Payments, or
   Shopify.
6. Customize Shipping:- You must customize shipping rates according to country. 
7. Install Apps From Shopify App Store:- You should now visit the Shopify App Store and install useful apps like email marketing integration, coupon code generator, hurry-up timer, etc. Now your store is ready to be launched.

Final Advice From Dropshipping Business:-

Now that you have learned a lot about dropshipping, yet here are some points worth remembering when you start your dropshipping business.

• You will always need to put in the time to improve your business, and most importantly, not being a source of copyrighted items is illegal all over the world and could land you some serious trouble.
• My advice is to choose products from Overlo suppliers and network with reliable suppliers who make it, this way you can rest assured that you will not violate any copyright law.
• If you are completely new to start small shipping with a single product or a small handful of complementary items from the same supplier you can always add more inventory as you get comfortable.
• It is better to start small and build bigger than to start big and get overwhelmed. Diversify into multiple drop shippers once you are comfortable with drop-shipping.
• Don’t rely on a single store for your entire income stream, but operate a chain of stores targeting different locations to create multiple sources of income.

So now you are ready for get started, keep all point in your mind and start your online dropshipping journey today. my wishes with you “best of luck”

I hope you will find this post “What Is DropShipping Business | Earn Passive Income With Drop Shipping!” useful and valuable. please do share this post among your friends and spread the knowledge.

Thanks for being here, make it a great day.

Babita Singh