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Basically, the concept of dropshipping involves selling without inventory, i.e. selling a product or service before you buy it. This is a different approach to the traditional way of buying products, stocking up before you sell – also known as wholesale selling
Naturally, dropshipping is more cost effective than selling wholesale where you need to order products in bulk and display same before you sell. With dropshipping you don’t need to place an order with your supplier until a customer has placed an order with you.
How To Start A Dropshipping Business.
- Step 1: Find a niche. Make sure to pick an area where you have comparative advantage and fully understand the dynamics of buying and selling. This will give you an edge over competition
- Step 2: Find a supplier.
- Step 3: Choose your platform, your technology interface.
- Step 4: Promote your business
- Step 5: Get your finances in order.
- Step 6: Make a sale and receive payment, then fulfill the order
- Step 7: Repeat the process
Do you think that you will be the next drop shipping mogul? find out how to start here: https://www.oberlo.com/
