Planning to start online Dropshipping business in India? Here is what all you need to know?
If you are planning to start an online drop shipping business in India, then this article would certainly help you learn the steps you need to consider to set up a successful dropshipping business in India.
Talking about dropshipping it is basically a retail business wherein the products are not stored as inventory. In case of online dropshipping business you collaborate with the wholesale supplier that maintains his inventory under a contract or an agreement. What you need to do is send the orders you get from your customers along with shipment details to the suppliers and they will supply the required products directly to your customers who place an order for products with you.
Dropshipping business in India requires low capital
When it comes to starting online dropshipping business in India, it is quite beneficial as the capital you need to invest in the business is quite low as compared to the investment required in other parts of the globe.
The best thing is that you can start ecommerce store in India without investing huge sums of money in buying inventory. Instead, the retailers have to invest in buying enough stock to make it available for the customers. They need to ensure that they have huge stock so that they can cater to the orders from the customers.
On the other hand, in dropshipping business you don’t need to purchase the product directly unless sold the product to the customer. Once the customer places an order and you get the money, then you buy the product ordered from a particular third party supplier which later is delivered to the customer. Hence, starting an online dropshipping business is pretty profitable and needs less investment.
Get started without any hassles
When you are confident about which product to sell and know the details of the actual product, it becomes quite easier to start ecommerce dropshipping business. When you run an ecommerce business the following things will not worry you
- Maintaining a warehouse to stock the product
- Packing the product and shipping it to the specified destination
- Monitor the stock inventory or product order.
How to start your very own dropshipping business in India?
When you plan to start a business you need to have the in-depth knowledge of that particular industry. You need to be clear on key factors like how a particular industry runs and the investment required to run a specific business, the idea of your competitors in the market, legal formalities, technological aspects, material factors in business and proficiency to run the business.
Pick the right product you want to sell
The performance of your business entirely depends on the product that you choose to sell. In order to find out the right product, spend enough time to research so that your success in the business is guaranteed. In case you select a wrong product, then even after applying other marketing strategies correctly, your business may fail to deliver what you expect. Also, you will end up losing your hard earned money.
Many people choose the wrong product but hire a professional Ecommerce Website Development Company to develop their online website and implement SEO techniques but when they don’t get the result they directly blame the development company. Make sure you start right to end it right.
When it comes to the selection of products you can consider products that are unbreakable, lightweight, seller all throughout the year and not just a seasonal one. Should be able to fetch 25-50% profit and more products of the same kind are sold on Amazon or eBay.
Look out for a trustworthy supplier
Much before you start looking out for a trustworthy drop ship supplier, determine a set of things. The wholesaler you collaborate with should be reliable and they should have the right proof of their reliability. Ensure that you have VAT no/Tin for the business plus a copy of a PAN card issued for your company along with registration.
Things that you need to consider while selecting a reliable dropshipper
- Is actually a dropshipper
- Have enough experience with helpful staff
- Doesn’t overcharge you on the orders placed
- Offer faster shipping
- Deliver quality products
- Ready to give you referrals to gain confidence
- Do they offer any discounts?
Select the appropriate platform where you can sell your product
It depends on you as which platform you want to choose based on your inventory for example on Shop clues or eBay etc. Make sure you log into your account on the desired platform and then list the specific items for sale. You need to be careful about the price you set as the rates on specific platforms can be highly competitive. In order to make money or earn profits by selling products on such platforms, you need to set attractive rates. Thus it becomes highly important to choose the right dropshipper. You should collaborate with a company that offers competitive rates. So, it is better to select a manufacturer/wholesaler as dropshipper to get competitive rates so that you can make profits.
Well, when you want to gauge the profits of your business you can assess if your business is making a 20% profit margin as this margin certainly implies healthy performance of your business.
All the aspects mentioned above would certainly help you set a profitable online dropshipping business. Make sure you spend enough time to know the market, your competitors and the prospects that can help you make profits by selling the products you choose. Carry out an extensive research to know if the product you want to sell is going to fetch profits in the long run.
All the aspects mentioned above would certainly help you set a profitable online dropshipping business. Make sure you spend enough time to know the market, your competitors and the prospects that can help you make profits by selling the products you choose. Carry out an extensive research to know if the product you want to sell is going to fetch profits in the long run.
