Ecommerce has been booming; And even more so NOW.
When it comes to eCommerce in Southeast Asia, there's no better platform than Shopee & Lazada in the Philippines, while its still the leading when it comes to sale its Alibaba and Amazon.
Within these platforms, there are already MORE THAN 10 MILLION buyers looking to buy...from YOU!
✅ Setup your online store in minutes and make your first sale quickly from millions of buyers; Ready to buy from you!
✅ There's a saying "Riches are in the niches". Some products sell better than others. We will show you our secret method to finding winning products
✅ The products you sell could be the difference between you making 5 figures, 6 figures and even 7 figures!
So, what dropshipping really is?
to ship (goods) from a manufacturer or wholesaler directly to a customer instead of to the retailer who took the order.
: to ship goods from a supplier directly to a customer -Merriam Web.
So, technically You only sell, post the product to Facebook, Instagram, twitter etc. If someone (buyer) likes your product and purchase it, the company will pack and deliver it to your customer. Simple as that!!
In dropshipping business you will have your own online store. An e-commerce website.
You can do it part time or full time.
Dropshipping example
Anna is an artist living in Canada. She wants to grow her career in her industry. In addition to teaching people how to enhance their natural beauty, she wants to provide them with the makeup and tools they need. As she researches how to start a business, she realizes she has a big problem. Where is she supposed to store all the goods in her 300 square foot apartment? Property is expensive in the city, and she can’t afford to take out a new lease for storage space.
Enter dropshipping. All Anna needs is an eCommerce website where she can adopt a dropshipping model. She selects the products she wants to sell, and every time someone orders makeup or tools from her site she passes that order along to the dropshipper. They then package and ship the item to the original customer. In this scenario, Anna never touches the product (and this process doesn’t have to be disclosed to the end buyer, so they’ll be none the wiser.)
The benefits of dropshipping.
There’s a low barrier to entry — all you really need is a website.
When you choose to pursue dropshipping, you’re freeing yourself from the worries and obligations of manufacturing, inventory, fulfillment, leasing space, and staffing, thereby saving yourself from those substantial expenses.
You have a greater ability to test products in the market. Since you aren’t buying products in bulk to store and sell, you can quickly adapt and change your offerings depending on market interests. If something isn’t selling, switch it out!
It’s almost like having a passive income stream. In a traditional retail model, you’re responsible for every aspect of the transaction. With dropshipping, you can focus on other aspects of your business, like marketing, while customers shop your site and a 3rd party fulfills it.
Work from anywhere when you dropship. Want to work from the comfort of your couch? Go for it. Prefer a typical office environment? You can do that, too. Like working from exotic locations? That’s doable as well. You can be anywhere in the world and rest assured that your products are reaching your customers.
No issues with logistics. Worried about having too much inventory to move? Or not enough in stock to meet demand? You don’t have to worry when you dropship — these issues are all taken care of on your behalf.
You only pay when your customer does. With dropshipping, you only pay for products that your customer has already ordered and paid for, so you’re not losing money on stuff that doesn’t sell.
Source: Domain.Com Blog
If your planning to enter in a dropshipping business, heres the things you must ask yourself;
What products I want to sell?
Who is my target customers?
What kind of website do i need?
On Choosing the products that you want to sell, you might consider the things you like, or a hobby if you're a gamer it could be gaming chair, computer, accessories. If you're an artist and like to draw, to paint it could art materials, anything related to you so that you enjoy what you are selling.
Dropshipping business is quite new to every one but this is the future of e-commerce and online business world. Social media is a very powerful tool to enhance and diversify every business.
How To Calculate Dropshipping Profit
How to calculate margin for a dropshipping business is no different than calculating it for any other business. You just need two numbers: the cost of the product and the price it's being sold at. You can further increase the accuracy of this number by factoring in other costs related to product procurement like additional fees you pay the supplier.
With those numbers in hand, you can use the following formula to calculate dropshipping profit margins:
Margin = ((Sales Price - Cost) / Sales Price) x 100
Remember, it's important that you calculate margins for each product you list for sale. Otherwise, you'll be leaving money on the table and making one of the most common dropshipping beginner mistakes.
Average Dropshipping Profit Margin
The average dropshipping profit margin is between 15%-20%. This can vary greatly depending on your chosen dropshiHow To Calculate Dropshipping Profit
How to calculate margin for a dropshipping business is no different than calculating it for any other business. You just need two numbers: the cost of the product and the price it's being sold at. You can further increase the accuracy of this number by factoring in other costs related to product procurement like additional fees you pay the supplier.
With those numbers in hand, you can use the following formula to calculate dropshipping profit margins:
Margin = ((Sales Price - Cost) / Sales Price) x 100
Remember, it's important that you calculate margins for each product you list for sale. Otherwise, you'll be leaving money on the table and making one of the most common dropshipping beginner mistakes.
Average Dropshipping Profit Margin
The average dropshipping profit margin is between 15%-20%. This can vary greatly depending on your chosen dropshipping niches and the average cost of your goods. Try to aim for a profit margin of higher than 20% to get the most out of the best dropshipping products you sell. Some dropshippers can actually see a profit margin of 300% or more, so keep an eye on your competitors' pricing model and see where you can increase your markup without upsetting customers. And the average cost of your goods. Try to aim for a profit margin of higher than 20% to get the most out of the best dropshipping products you sell. Some dropshippers can actually see a profit margin of 300% or more, so keep an eye on your competitors' pricing model and see where you can increase your markup without upsetting customers.
Is dropshipping a get rich quick scheme?
Dropshipping is not a get-rich-quick scheme. Though it’s easier than ever to set up an eCommerce website and list products for sale, you still need to reach customers and convince them to purchase.
Dropshipping is advantageous because it doesn’t require a lot of overhead and you don’t have to inventory your own products. However, there are other reasons dropshipping isn’t a fast path to big profits. You still need to:
Sell high demand products
Offer products at good pricing
Execute strong marketing strategies
Provide fast shipping and handling
Have a unique value proposition
Source: Joshua Weatherwax