Many people in the industry sector steer clear of online
businesses due to the rise of con artists and also they don’t want to
spend so much money on capital costs and have the hassle of fulfilling
daily orders from their customers. This is where dropshipping comes in
handy. Dropshipping is what many describe as a fulfillment model which
allows an individual to buy goods directly from a manufacturer or
wholesaler and instead of the manufacturer shipping the goods to them
they instead ship the merchandise directly to the customer. This means
that the merchant will not have the hassle of stocking goods and keeping
inventories in their warehouse which reduces the risk of theft and
damages.
This unique model has been in the past been confused with a ‘get rich quick’ scheme but this is entirely not the case. This business requires a lot of dedication and at the end of the day one is guaranteed to achieve many benefits which include:
1. Starting their own successful business without necessarily exposing themselves to the market risks and vulnerabilities.
2. No need to stock up on inventories or pay upfront for goods that may not even be sold at the long run.
3. One purchases at a wholesale price and sell using their own retail prices.
4. No need to purchase packaging materials or even have the hassle of having a shipping account as all this is provided for by the supplier.
5. An individual is able to channel his energy and other resources to revenue producing activities such as product research and marketing.
6. The business is flexible since it can be done anywhere anytime since the owner requires only an internet supporting device. Communication is the main tool required in this business.
7. It is easy to expand your business unlike the traditional businesses since the additional work is borne by the suppliers.
8. Since the business owner doesn’t have to pre-purchase the goods then he/she can be able to offer their clients a wide variety of goods.
Although it may seem as a rosy business, there are certain limitations that come with dropshipping. They include:
1. The owner looses the control of how the product is packaged and branded.
2. The supplier may run out of stock since it’s not only one business owner’s customers they are supplying to.
3. Some of the dropshipping fees may be a little on the higher side therefore increasing the business owner’s expenses.
4. Most of the suppliers don’t award any form of discount even if the goods are bought in bulk upfront.
5. If a mediocre wholesale distributors supplier ends up shipping damaged or botched goods, then the business owner takes responsibility over the matter and has to take the brunch of rude and even insulative clients and end up apologizing for the mistake that you were not part of.
So the query lingers, ‘Is it worthy/ wise to invest in such as business?’ well, as stated earlier this business is not your normal cup of tea. A lot of hard work and determination is required for one to succeed in it. The model is quite divine but also its complex nature is something one needs to address before indulging in it. However, with proper research and planning, most of these gravitations can be easily solved making it easy to build a booming, highly profitable dropshipping business which will be an envy to many in the market.
This unique model has been in the past been confused with a ‘get rich quick’ scheme but this is entirely not the case. This business requires a lot of dedication and at the end of the day one is guaranteed to achieve many benefits which include:
1. Starting their own successful business without necessarily exposing themselves to the market risks and vulnerabilities.
2. No need to stock up on inventories or pay upfront for goods that may not even be sold at the long run.
3. One purchases at a wholesale price and sell using their own retail prices.
4. No need to purchase packaging materials or even have the hassle of having a shipping account as all this is provided for by the supplier.
5. An individual is able to channel his energy and other resources to revenue producing activities such as product research and marketing.
6. The business is flexible since it can be done anywhere anytime since the owner requires only an internet supporting device. Communication is the main tool required in this business.
7. It is easy to expand your business unlike the traditional businesses since the additional work is borne by the suppliers.
8. Since the business owner doesn’t have to pre-purchase the goods then he/she can be able to offer their clients a wide variety of goods.
Although it may seem as a rosy business, there are certain limitations that come with dropshipping. They include:
1. The owner looses the control of how the product is packaged and branded.
2. The supplier may run out of stock since it’s not only one business owner’s customers they are supplying to.
3. Some of the dropshipping fees may be a little on the higher side therefore increasing the business owner’s expenses.
4. Most of the suppliers don’t award any form of discount even if the goods are bought in bulk upfront.
5. If a mediocre wholesale distributors supplier ends up shipping damaged or botched goods, then the business owner takes responsibility over the matter and has to take the brunch of rude and even insulative clients and end up apologizing for the mistake that you were not part of.
So the query lingers, ‘Is it worthy/ wise to invest in such as business?’ well, as stated earlier this business is not your normal cup of tea. A lot of hard work and determination is required for one to succeed in it. The model is quite divine but also its complex nature is something one needs to address before indulging in it. However, with proper research and planning, most of these gravitations can be easily solved making it easy to build a booming, highly profitable dropshipping business which will be an envy to many in the market.
source from: DropShipping Business: Worthy Or Just Plain Wrong?
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