Drop Shipping (My New Get Down)

online dropshipping business

What is drop shipping?

Drop shipping is essentially nothing but supply chain supervision in which the seller does not physically stock the goods but transfers the orders from the customers as well as shipment details to the manufacturer, wholesaler or another retailer who is then responsible for shipping the goods straight to customers. The retailer makes its profits based on the difference in margin between the retail prices and the wholesale price. There are some retailers out there who have agreed percentage of commission on the sales which is paid by wholesaler to retailer.

Understanding drop shipping

If you are one of those who can’t afford to invest significant funds in products as well as storage requirements and additionally you don’t want to deal with the ultra-competitive online retail business or multi-level business then the drop shipping is the perfect option for you. There are multiple advantages of drop shipping that make it an attractive option of business. However it also has a few disadvantages and cons that are worth having a look. Let us begin with the advantages.

Limited funds required: First and foremost you don’t have to deal with the issues of packaging, warehousing and shipping. Additionally you don’t need to tie down the limited resources or funds on inventory. The retailers who operate the traditional trading or selling business have to invest huge amount of funds on inventory. The drop shipping is different as the retailer does not need to purchase the product unless that specific product has already been purchased by customer and you have been paid the price. Thus it is quite feasible in commercial terms and you can initiate an efficient drop shipping business even with little funds at your disposal.

Convenient to start: Operating the ecommerce business is extremely simple and convenient when you as a retailer don’t have to manage and deal with the physical products. If you adopt drop shipping as your business model then you don’t need to concern yourself with : paying for or managing the warehouse, Packing as well as shipping the order to the customers, Keeping track of the inventory for the accounting purposes, handling inbound shipments and returns, managing the level of stock and constantly ordering products. Thus the drop shipping business is very convenient to operate as it gets rid of a huge amount of the logistics that are very complicated to handle over a period of time.

Low amount of overhead: As the drop shipping business involves very low amount of logistics like managing the warehouse or purchasing an inventory, the overhead expenses and costs are extremely low. As a result the drop shipping business can be initiated and successfully operated at very low costs efficiently. For example a lot of the successful and efficient drop shipping businesses around are operated from the home office and involves just a single laptop with monthly costs of less than $100. But gradually as your drop shipping business grows, these costs are likely to increase however still they will be minimal and extremely low in comparison to the traditional businesses that are around.

Flexibility of the location: One of the biggest advantages of the drop shipping business is the fact that you can operate the business from almost anywhere convenient. There are no specific restrictions in terms of where the office should be located. Any place is fine as long as you are able to communicate with the customers and the suppliers easily. Thus you have amazing flexibility when it comes to the location of the office from which you want to operate the drop shipping business.

Wide range of products: Since the retailers don’t have to pre-purchase or pre-order the items that they sell, they can offer a wide range of products to the prospective customers. As long as the suppliers stock the specific item, the drop shipping retailer is able to list it for sale to the customers for no added cost.

Feasible scalability: The drop shipping business is extremely feasible and easily scalable. For instance with the traditional business if you receive more business order you would need to work that much harder and deal with all the complications of the logistics that arrive with it. However if you are leveraging the drop shipping suppliers then the majority of work needed to process the extra orders will be carried out by suppliers thus allowing the drop shipping retailers to expand their business without any additional work or complications. The growth in sales will always bring added work and responsibility however those who are able to utilize the drop shipping model are able to scale the business efficiently.

With all the advantages, there are a few bottlenecks and disadvantages to the drop shipping business as well. The disadvantages include low margin of profits, complexities related to shipping, supplier errors and inventory issues amongst few others.

The Best Online Jobs For Beginners

best online jobs

Most people have specific unique skills that can monetize. Also, you can retrain anytime today. Once you do these part-time jobs online from home, your income will rise. You can become a successful businessman and increase your profits by starting this type of online business. These trading companies require little or no investment. You can manage many of these companies from home. Even if you are already employed, you can run a small business. For many, these companies can become a full-time company.

Creating a small business online usually requires a fast/reliable Internet connection, a computer, phone, and the necessary skills. Take advantage of the best online jobs for beginners looking for supplemental income.

Social networking expert

You can offer your social media marketing and promotion services from home to small businesses. You can manage their Facebook profiles, LinkedIn, and other social networks, groups, and pages as a freelancer. They implement the right methods for managing publications, content, and followers.

Make money from home in freelance work

You can earn money by offering various types of independent business services. Fiverr.com, Upwork.com, Peopleperhour.com, and Freelancer.com are some of the most popular platforms for freelancers to get projects. Numerous tasks and jobs are available for all types of skills. Register on these websites as a freelancer to get projects. Areas required for contract work include technical services, website design, content writing, logo design, translation, proofreading, editing, ghostwriting, etc. Freelance is one of the best online jobs for students, graduates, homemakers, and pensioners.

Create a YouTube channel

If you prefer online part-time work and business ideas for the home, launching a YouTube channel is quite lucrative. Users can start independent channels on YouTube and videos can be uploaded there for free. YouTube videos are very popular. YouTube receives around a billion visitors a month. Videos that show and review the latest devices, digital devices, electronics, cosmetics, etc. are well-liked: they can provide informative and entertaining videos, video tutorial instructions, beauty/makeup tips videos, life and relationship advice, create recipes, etc. that’s very profitable. Many of us saw ads while watching a video on YouTube. Click on “skip ads” to see an exciting video. In this way, the creators of the videos earn money. When visitors play a video with an ad, the channel owner makes money from Google. This process uses YouTube AdSense. If necessary, you can always take a short course to learn the secrets of becoming a successful owner of a YouTube channel.

Monetize your blog/website with Google AdSense and Affiliate Marketing

With Google AdSense, you can turn your blog into a revenue stream. Sign up for your Google AdSense account. AdSense lets you show ads on your blog or your website. The ads refer to the content of your website. To add AdSense ads to your website, add the script in which you want to show ads. You can earn money when site visitors click on ads to display them.

You can also register for affiliate programs. If your web content or blog post focuses on a particular topic, you can include links to partner ads for products that are relevant to your content. There are plenty examples of blogs and websites that do this well and target a specific niche. Aural-Fixation is a great website/blog that covers music and computers. You will notice that like other similar sites, you can find strategically placed ads throughout. When the reader clicks on the affiliate product link and buys it, you earn money as a commission. The Amazon Associates affiliate program is top-rated because Amazon.com has a wide range of products.

Online tutor and online/e-book courses

If you excel in the academic world and can clearly explain complex topics or have a precious art of teaching, you can become an online tutor. Earn money by sharing knowledge through virtual online lessons. You can teach and guide students online through video calls.

Online tutoring is one of the best part-time jobs at home. You can work as an online trainer for your favorite topics/skills. If you are an expert in creating videos and e-books, you can also create online video lessons and e-book courses. Online courses at low prices are top-rated today.

Writing content

A ghostwriter sells his articles or other written content to another party without claiming ownership or rights to those articles. If you have excellent writing skills, you can start your career as a writer or as a freelance writer. You can work as a content writer. It is one of the most popular part-time jobs online.

Proofreading or editing

Editing and proofreading are necessary for all essential writings. If you are good at languages ​​and have excellent literacy skills, you can start working as a freelance proofreader from the comfort of your home.

Translator

Important documents or articles often require translation services. If you speak English or other languages, you can earn money by working as an online translator. Create your portfolio online and register on the leading independent websites.

Dealing in e-commerce

Nowadays, online selling of products and services has become quite easy. Collect products selected by a wholesaler and sell them at higher prices through the websites such as Amazon or eBay. If you can make different kinds of new jewelry, other interesting objects or attractive stuffed animals, you can sell them on websites like Etsy.