How to make 100k monthly without capital via dropshipping
Dropshipping is an online and offline business model that enables the middle man to sell products without having the goods at hand to the final consumer while making a reasonable profit. In the dropshipping business model, three people are involved
- The wholesaler(store owner)
- The middle man (middle man)
- The buyer (final consumer)
Sourcing product is one of the most important aspects of dropshipping and that is why it is always good to have a reliable wholesaler partner or a reliable e-commerce website where the product can be gotten at the cheapest price.
Dropshipping can be done both offline and online but the easiest way is online. Just by using your smartphone, you can get the product delivered to the customer without leaving your comfort zone.
At the same time, something is needed to be put in place before all this can work out.
How to start a successful dropshipping business
- Reliable e-commerce/wholesaler
- Active social media
Niche: you have to focus on a particular niche, most importantly you need to have passion for that particular niche. This will help you communicate well with your audience. There are so many niches of produce you can choose from examples are (kitchen wares, games accessories, skin care products, and household appliances)
Reliable e-commerce website: there are many e-commerce websites where you can source your products like alibaba.com, 1688 and the like this site sell their products at wholesales price
Dropshipping wholesalers: this is one of the most important parts, a partnership with a wholesaler in the market will boost your sales performance and profits. Once you source the product and get an order for it, you can easily contact the seller to package and give it to your personal dispatch rider for delivery.
Active social media: you can either have social media like Tiktok, Instagram, or Facebook or post on your WhatsApp status. From there you get orders and You can also run ads on social media.
How do you make a profit from the dropshipping business?
As a good dropshipper you have to factor in the retail price of the product you are selling before putting a price tag on your products. That is why you have to source for uncommon products. This will make it difficult for your customers to know the real price. Profit is made from goods sold and sometimes commissions are paid for some