It's a well known fact that eCommerce can be incredibly profitable.
There are tons of small niche brands out there making a killing by selling products online, whether they're purchased in bulk and private labeled, or custom manufactured.
On the surface, running an online store might sound kind of daunting.
Between paying for and ordering inventory, and mailing out packages, and everything else, it looks like the kind of thing that would be really involved and time-consuming.
This actually isn't necessarily the case. There's a way that you can get started with online retail without ever touching a single piece of inventory.
It's called dropshipping.
It's essentially a form of retail arbitrage. You're basically connecting the customer with the product via your online store, or via Amazon.
In this scenario, you don't have to worry about warehousing, shipping, and inventory management.
That's handled for you, leaving you free to focus on marketing and building your brand.
In a recent blog post, ShoeMoney explains why dropshipping can be a great option for aspiring entrepreneurs.
Start a Dropshipping Business
Starting a business is a serious decision, and it’s also one that often comes with a lot of responsibility, experience, and upfront costs. However, as I mentioned earlier, the internet has completely changed everything about the way business is done in the world today.
One such method for generating income from your own home is dropshipping.
The concept is just like any other business model where you are selling online, except you don’t need to actually hold any products or ship out orders. Oberlo, has developed a tool that makes finding products and importing them into your ecommerce store easy breezy.
It has excellent guides on dropshipping and an easy to use chrome extension. You’re literally few clicks away from importing and automatically fulfilling orders.
- Lower starting capital – anyone can start their own e-commerce business using dropshipping without having to break the bank or get an expensive loan. It’s a case of supply and demand – you only purchase the products you will definitely sell. As you manage your own profit margins you can play the market and use branding and persuasive copy to drive up the retail value of your products.
- It’s low risk – Every new business venture comes with its own risks, but dropshipping is less risky because you’re not locked into expensive stock or retail premises. If things don’t work out the way you thought they would, you are not stuck with loads of products you have to offload.
- Wide selection of products – you can sell so much more through the drop shipping model because you don’t have to stock anything and you can change tact fast.
- You can do it from your own home – you don’t have to worry about running a warehouse or stocking your products so you can manage your business from your bedroom. You have more independence and flexibility.
If you ever wanted to start a legitimate business from home but didn’t know what direction to take or didn’t have the necessary startup funds to get started, dropshipping and selling online is definitely a great option to consider.
You can discover more accessible ways to make money online over at ShoeMoney.