How to Make Money from Drop shipping: The Step-by-Step Guide

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Have you ever wanted to start an online business and leave your 9-to-5 job? Drop shipping is one of the safest and easiest ways to make your dream come true. More and more entrepreneurs are turning to this eCommerce model to make money from home. This step-by-step guide will help you start a drop shipping business from scratch and make money in no time!

What is drop shipping and how does it work?

Drop shipping is an eCommerce business model where the retailer purchases products from a third-party supplier and ships them to customers. Drop shippers earn by selling products online at higher prices than their supplier’s price. 

For example, one person buys an item from your store at $300 per unit price, and another person buys it for $200. You can see that there is profit potential in between, and there are numerous benefits to starting a drop shipping business.

Benefits of a drop shipping business

Drop shipping has many advantages over traditional retail. Drop shippers can start a business without upfront costs and stock inventory, and they don’t have to manage customer service or fulfill orders themselves – their suppliers do it instead! Drop shipping is truly an ideal way for entrepreneurs who want freedom from physical products in exchange for more time spent building their businesses online. The following are some benefits of drop shipping

Work from anywhere you want

You only need a computer, a stable Internet connection, and a phone line (preferably mobile).

Flexible working hours

Drop shipping allows entrepreneurs to have more freedom than ever before. You don’t need to run back to your office every few hours because something happened while you were out of town or on vacation.

Low overhead costs

Drop shippers do not need to invest in inventory. This removes the cost of storing and shipping products.

Greater scalability

Drop shipping businesses can expand their operations fast by adding new products and suppliers. Entrepreneurs can start small and grow on their own.

How to find products to sell

It’s pretty easy to find products to sell for drop shipping, but you need to know a few basics first. Consider these factors when you are looking for products to sell:

  • What are people searching for online?
  • What are the best-selling products in your niche?
  • What do you feel comfortable selling?

Also, look for brands with established social media followings or those where there are many reviews. This ensures that people know what they are getting before purchasing them. 

Once you’ve found a few products that fit these criteria, start researching their demand and profitability. Use something like Google Shopping Ads for guidance on how many people are searching for that item each month on Google.

How to set up your store

The first step is registering a business name and forming an entity. You may choose to incorporate your drop shipping store as a sole proprietorship, limited liability company, or corporation. The best option depends on your needs. So, consult with an attorney before filing any paperwork or use a service provider with a reputable reputation who can set up everything for you. 

The next step is finding a web host and designing your store. A great platform to sell on is Shopify because it’s user-friendly and affordable. It also has tons of features that help you run your business.

The final step is finding a supplier who will dropship the product you want to sell in your store. You can use Dropship Direct to search for suppliers by category or location. Drop also has a list of wholesale distributors that dropship products from the manufacturer to your customers.

How to market your store and attract customers

Once your store is up and running, it is time to set up a marketing plan. The best way is using Facebook and Instagram, which will allow you to reach a large audience for free. Attract customers by sharing product photos, creating engaging posts and stories, and hosting giveaways. 

You can also create a blog on your store’s website to share tips, advice, and other content that will interest your target audience.

Tips for success in drop shipping

1) Build a brand, not a business

Build a brand personality to create an emotional connection with your audience. Your goal is to make people loyal to your brand and keep coming back for more.

2) Use a drop shipping company that offers a variety of products

Drop shipping companies can save you time and effort because they handle all order processing from start to finish. A good company will have low prices, quick shipping times, and a wide range of products available for you to sell.

 3) Be social

The best way to run a drop shipping company is by using social media. You can use Facebook and Instagram to reach out to new audiences, promote deals, and post photos of products you have for sale.

4) Be prepared to learn

You will be responsible for tasks including processing orders and marketing. Rather than hiring employees, why not teach yourself how to do these things and save your money?

Wrapping Up

With a little hard work and dedication, you can start earning through drop shipping. Simply keep your expectations low, know that you will have some bumps in the road, and stick with it, even if you don’t make any money at first. But the most important thing to know when wanting to make money from drop shipping? Start where you are and simply do it!

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