Dropshipping is an exploding E-Commerce industry taking over the online landscape. But at its core, what even is dropshipping?? Let’s distill dropshipping down to its essence and clear up some common misconceptions
3 Things Dropshipping is:
1. Dropshipping is a Retail Business with NO Products in Stock
Wait, what??? How can a retail business operate with no stock?! By no stock, I mean you run the business without physically having any product in stock. Your webstore will (IT SHOULD) always have stock.
- You create the store
- Source products from a marketplace like AliExpress or Topdser Sourcing
- Write product descriptions
- Prepared the photos
- Customers pay you
- You pay for the product from your source (for less!)
- The source seller ships directly to your customer
Your room is stacked to the ceiling with products and you never lift a finger for shipping
2. Dropshipping is a Low Entry Fee Business Model
For the blossoming entrepreneur strapped for cash, dropshipping might be what the doctor or your bank account ordered. The start-up fees are a fraction of a traditional business.
You only pay for a product AFTER a customer has paid your advertised price for the product. This alone saves your piggy bank from breaking before you even get started. You really only have to worry about a few fees. The Shopify monthly fee starts at $29. A domain name, which isn’t required but is pretty much required if you want to be taken seriously and can be as cheap as a couple bucks a year. Then we come to ad fees which are completely up to your own discretion and budget.
Without exaggerating, you can get your business going for $50 a month. Shopify also has a multitude of free plugins to help you manage your store, including the forever free plan on Topdser.
3. Dropshipping is Your Opportunity Build a Brand to be Your Own Boss
Your dropshipping business and its success is entirely up to you. You control the look of your store, what products you sell, your brand’s name, and everything else. There is no boss breathing coffee breath over your shoulder. There are no meetings that you have to suffer through. It’s all in your handd.
Dropshipping gives you the freedom to work from anywhere there is an internet connection. This can be a supplemental income, or a full-time job moving big units and bringing in stacks of cash. All those trendy influencers gassing you up on the Gram about being your own boss aren’t totally full of it.
Dropshipping lets you unleash your creativity. You can and should create your own logo, name, and brand image. If you’ve ever wanted to make something your own, a dropshipping business is the way to go.
2 Things Dropshipping is NOT:
1. Dropshipping is NOT a Get Rich Quick Scheme
Let me level with you. If you are here to get rich with minimal work, you are going to be wasting money just like the gym membership you pay for when you only go twice a month. Successful dropshippers put in serious hours finding solid products. They put in even more hours creating engaging ads and promoting on social media.
“But *random Youtuber* told me this is the way to get rich without ever getting out of bed!” You fell for the clickbait. Don’t be upset, everyone gets got now and then! Dropshipping is more than opening a store, importing some products, and then shouting “MONEY! GET IN MY WALLET!” Sorry to disappoint, but you get what you put in and if you put in minimal effort you won’t even break even.
2. Dropshipping is NOT for Quitters
The retail world can be brutal. Trends constantly change, and today’s winner is tomorrow’s dust collector. If your first brand direction and product selection don’t pan out, you have to be willing to change. Dynamic is the word of the day kiddos! Your store’s product selection, promotions, and your creativity must be dynamic for you to gain continued success.
Think about fidgetspinners, do you even remember those? They were literally everywhere for a year, and then disappeared like the person you were texting on tinder. It’s normal for a dropshipper to have several stores so they can jump on trends and then jump off when the trends change.
Luckily, there is a way you can track the trends. Topdser has the Niche Spy to send you new product ideas daily so you can stay DYNAMIC!