Dropshipping has been the buzz word in the E-comm industry lately for all the right reasons. It’s one of the best retail business models to start your own store when you don’t have the capacity to buy and store physical goods yet want to start your own business.
With all the positive talks and success stories floating around the internet, there have also been a lot of misunderstandings about the concept.
Therefore, I decided to define “How Does Dropshipping Work along with clarifying the Myths about it”.
So what exactly is dropshipping?
I’ve read my previous blogs, you’ll know that dropshipping is a unique retail selling model that allows you to ship products directly from the supplier to your customer without having to do anything by yourself. You don’t see or handle the product, everything is done and handled by the supplier thereby making it feasible for you to concentrate on setting up and promoting your business.
Sounds interesting, isn’t it? With that ticked off, let’s talk about Myths vs. Facts About Dropshipping.
- Myth # 1
Dropshipping high quantity of products at low price
FACT – One of the common misconceptions in today’s time is that dropshippers can only be successful when they sell high quantity of products at low cost. Sourcing from china, suppliers with unattractive websites that are hard to find are not your way to go anymore.
Times have changes. Dropshipping has become one of the most cost effective ways for anyone wanting to enter the e-commerce world, by selling high quality unique items. it’s also a great opportunity for suppliers who get a chance to sell more products and make more money.
Additionally, retailers are now becoming smart and ambitious. They know that they can never compete with high end retail stores like Amazon, Walmart etc. that provide items at low cost, impossible to match for a small online store. Therefore, instead of competing at price, they provide their customers with unique products & experiences created just for them.
- Myth # 2
I don’t have money to create a website & I don’t know how to add and sell products
FACT – In today’s era of internet and technology, there are several platforms out there you could use to start your online store. eBay, Shopify, etsy, BigCommerce to name a few.
If you someone whose curious, follows instructions and love to DIY, here’s a YouTube video that can help you create a website in just a few simple steps.
Finding the products to sell are not heard either. There are several dropshipping directories online like – Doba and SaleHoo, or you could reach out to suppliers on Aliexpress to get started.
- Myth # 3
Once I launch my website, I’ll see a lot of sales and money coming in. I can sit at the beach or pool side while my business makes money for me.
FACT – While dropshipping eliminates a lot of hard work involved in running a retail store, it still requires you to put in energy and effort. That does not mean, you can not achieve your dream of becoming financially free, it just means that it requires consistency and hard work.There’s more to just opening a store. You need to ensure that the goods are high quality, the customers are satisfied (to gain a loyal fan base) and also have the marketing strategy in place to ensure constant traffic on your store. Once you put things in place, you can automate your work flow and enjoy it’s fruits.
There’s no second thoughts that dropshipping is the way to go if you want to start your own retail store, but it’s also necessary to have our facts clear before getting into it. If you still have any doubts, post them in the comments below.
Also, read the 10 FAQs about dropshipping on eBay to get more clarity on the concept.
Ready to get started? Let’s chat on how you too can start your own dropshipping business today!