Dropshipping is a method of supply chain management whereby the retailer does not keep the goods in stock but instead transfers the customer orders and shipping details to either the Manufacturer, other retailer or wholesaler who then delivers the goods to the customer directly.
Basically, someone comes to your store and purchases a product and then you use the customers’ money to then purchase a said product from a supplier at a lower price and the supplier ships it directly to the customer for you and you pocket the difference
How can you start dropshipping in India
Find a trustworthy supplier. Review their product and be 100% sure about the quality ensured by the supplier.
Decide your sales channel.
Define your consumer market.
Have an online presence in the form of website, social media accounts.
Build your strategic business objective.
Dropshipping is quite a simple process
You create (more on that later) your online store and fill it with products
A customer will find your store (usually via social media)
The customer then purchases a product from your store
You buy the same product from your selected supplier once you receive the notification.
You provide the delivery address of the customer who purchased from you
Your supplier will ship the product directly to them
The customer gets their product and everything is fine and dandy with the world! Running a DropShipping store can be highly profitable, especially against a normal brick-and-mortar store, or even other e-commerce websites because there are no warehousing costs, potentially lower purchase costs, and employees
DropShipping does not require you to have a warehouse, buy stock upfront or even use expensive fancy software to run the logistics, as discussed above. All of this adds up to better savings and sales margins
You don’t have to be a seasoned entrepreneur to become successful. It’s a business that is great if you are new to this world. Your supplier does most of the hard work!
More Time To Learn
Fulfilling orders doesn’t take a large amount of your time. The supplier does the hard work, so it gives you more time to learn about advertising, or social media, or even new ways of promoting your business.
Benefits of dropshipping
The dropshipping model has several advantages: lower capital requirement: you don’t have to invest thousands of dollars in inventory with drop shipping. Instead, you only buy a product if you have to fill out an existing order.
Wider product selection: You can offer your customers a significantly larger number of products if you don’t have to pre-purchase all the items you sell.
Reduced risk: The risk of starting an online store is dramatically reduced without thousands of investments in inventory. If things don’t work out, you don’t have to sell at a loss with thousands in the inventory.
Location Independence: Because you don’t have to worry about fulfilment or running a warehouse, it’s possible to run a dropshipping business from anywhere with a laptop and an internet connection.
Highly Scalable: Because you don’t need to manually fulfil each order, it’s relatively easy to scale a dropshipping business.
Dropshipping a profitable business model
Like all businesses, success and profitability rely on a number of variables. But if done correctly, with dropshipping, it is possible to create highly profitable online businesses. Dropshipping isn’t a magic formula – and real success takes significant work and time – but it’s a viable online business model with very low risk. Dropshipping was the model I used to start my online business
Also, Read About Digital Marketing VS Traditional Marketing