Why You Should Start A Dropshipping Business
It can be very intimidating to start a new business, especially when you’re completely new to the field. There are investments, planning, capital, and a lot of work involved. There’s also the fear of failure, which makes a lot of people back out even before they start. This is why starting a dropshipping business can be a great way into the business world for new entrepreneurs.
Dropshipping business models allow you to start a business without any hassle. You can do it online, without ever actually buying huge stocks of products that might never sell. Instead, you sell products to a third party and ship them directly to the customer, and you make some profits just by being the middle-man! Isn’t that a great way to start?
But how do you know if dropshipping is the correct choice for you? Don’t worry! We have you covered. We’ll go over all the ins and outs of dropshipping and even tell you how you can start your business online. Let’s begin!
How Does Dropshipping Work?
A business that uses dropshipping as their fulfillment method acts as a middleman between a wholesaler or retailer and the customer. You, as a drop shipper, would take orders from customers and then buy those items from your supplier who then packages and ships them to your customer. There's no need for you to own inventory or stock up or even be bothered with the hassles of delivery.
You are providing your customers with the guarantee that the products you sell will be in good condition and of high quality. So the customer doesn't have to browse through hundreds of retailers to look for cheap prices and good quality. You do it for them!
It's a win-win situation for both parties. You would have to give a portion of the sale to the retailer, of course. But supplier's prices are usually very cheap, and since you don't have inventory charges, delivery charges, or even rent and facilities for a physical store, there aren't a lot of expenses involved for you.
Dropshipping differs from regular business models, mostly in the sense that you never have to own or handle inventory. You don’t have to stock up on products which is why most online businesses fail. They spend thousands on inventory without even knowing if it will sell. With dropshipping you get to avoid that headache.
Benefits Of Dropshipping For Female Entrepreneurs
Dropshipping is a great way to begin your side hustle, especially for female entrepreneurs. It's not that hard to start and with enough time and effort, you can start to earn a proper sum of income. Once you've become successful, you can expand your business or even own a physical store!
There are plenty of perks to dropshipping for newbies. Let's check some of them out!
Doesn’t Need A Lot Of Capital To Start
Perhaps the most common problem faced by new entrepreneurs is the lack of capital. Most businesses require a large sum of money to even get started and people back out because they can’t afford that. According to the US Bureau of Labor Statistics, a lot of new businesses fail as well. So even if you can afford to start a business, you might lose all that money.
This is why Dropshipping is perfect for beginners. All you need is to get in contact with a great supplier, and then you can start selling online! It’s that simple. You don’t need to worry about losses because you’re not buying any inventory. You’ll only order as you are making sales. It takes very little capital to start, and once you start earning you can save up a lot.
No Need For A Physical Store
Dropshipping can be done completely online through your Shopify store, so there’s no need to pay for renting a store or paying employees. You don’t have any extra expenses of maintaining a physical building and paying the bills for a store that might take months or even years to see any profit.
This makes dropshipping perfect for a side hustle. You can do it right from your phone with minimal time investment! It's your business and you can build it at your own pace. Dropshipping allows you to get your business off the ground and start easy. Once you acquire some profits, you can turn your side hustle into your main source of income. There’s very little risk involved.
All you need is an online store that can make sales while you're at work, while you sleep and spend time with your family. If you do have the time to create a Shopify store or just don't know how, there are online marketplaces such as The Fempreneur Agency, where you can buy ready to launch fully branded dropshipping businesses that are delivered already loaded with profitable products. However, check each listing carefully before making any purchase; you can verify any data through Shopify.
One of the best parts of a dropshipping business is that there's no need to stock up! You only order what you need and none of it is ever wasted. Even the deliveries are made by the wholesaler in a lot of cases, so there's no hassle.
This also means you don't need to pay for a warehouse or rent a place to store your inventory. If orders don't come, then your products won't rot in the basement of your house. It's very convenient, especially for new business owners who are short on space, time, and money.
Learn Useful Skills Along The Way
Dropshipping is just a business model, or more specifically, a fulfillment method. This means the rest of your business is still very similar to any other business, and through this, you can learn valuable skills as a new entrepreneur. Things like digital marketing, copywriting, social media management, conversion optimization, managing funds, dealing with customers, and so on.
These are skills that will always help you, no matter what kind of work you do. Especially as you grow as an entrepreneur and become more serious as a business owner, these skills will give you an advantage. It's sort of like a way to learn all the experience in a low-risk environment.
Sell To Anywhere In The World
Most other businesses would require a long time before going international with their sales. But with dropshipping, you can ship to anywhere in the world from the get-go! Your supplier probably already ships worldwide, so just ask them before planning on going international.
You can also get different suppliers in different parts of the world. This makes it even more convenient as you can reduce shipping charges and get your products delivered way faster.
Scale And Upgrade
Dropshipping businesses are a great option to start as an entrepreneur because they are so scalable. You can expand and build your empire using dropshipping as the starting block. Once you see that your products are selling and have built a reputation for yourself, you can invest more time and money into this project and expand it. You can even sell the business eventually at a higher price if you want.
Make your store into a brand and become known worldwide! A brand name goes a long way. This is great even if your business fails or if you aren't interested anymore. If dropshipping doesn't work out for you, you won't suffer a lot of loss because there wasn't a lot of investment, to begin with. So it's a safe bet, especially for female entrepreneurs.
You ladies are making feel I can do this!
A few questions please. I see you have pre built website I’m wondering would you be doing a hair product drop shipping website? I would be the 1at person to jump at that!!!
Also as I’m not from the US would your website still work for Europe?Keep up the great work!!!!!