How to Start a Drop Shipping Business with Just $20 (in 5 simple steps!)

This Post: How to Start a Drop Shipping Business with Just $20 (in 5 simple steps!)

was put together by our team of editors who are Business Review Consultants that give their expert recommendations, on the latest business software & tools that have been launched onto the market.

When we publish the latest money making opportunity or business software review on drop shipping business,

 
we will give you our complete analysis on the most popular software product tools. We will expose the most profitable online systems that top internet marketers don't want to share with you.

 

We reveal some of the most Powerful web programs  That have recently been launched onto the market that will help those starting an online enterprise or setting up new revenue streams.
We will test these software apps, to examine every feature of the tool, making sure its delivering results.      

All the videos we post on our constantly updated blog,

just like How to Start a Drop Shipping Business with Just $20 (in 5 simple steps!) that your about to watch,

will give you the competitive edge in your online business ventures,

that are targeted towards those interested in using the best tools on the market, that will help you start an online enterprise or run a profitable Home Based Business Franchise, using the most powerful web tools.

Our Product review team

 

Convert all of our highly valuable video reviews, found in every one of our regularly updated blog review tutorials, that can be found in drop shipping business,

Into a video transcript using the latest cutting edge techniques in video transcribing, for you to get the most out of these excellent video resources, that will help you to be a smarter digital entrepreneur to review later.

This transcribed content further down, on this post about How to Start a Drop Shipping Business with Just $20 (in 5 simple steps!), can then act as a reference guide or refresher transcript that you can browse over,

after you have viewed the video so that you can review each action step in more detail.

To completely understand the dynamics of drop shipping, its highly recommended you go to https://www.Turnkeywebpublishing.com
to realize the potential of running a drop shipping business, by owning your own store. Where you set your own prices to generate maximum profits, for the most highly sought after products that get highest numbers of searches by those looking for products, in categories that you can easily dominate.

starting an online business has never been easier than news today with the growth of Amazon eBay Shopify and other online retail platforms anyone with twenty dollars can start an online shop if you’re just starting out you’re not gonna have a big warehouse or a lot of money to get started and figuring out what to sell can be daunting as well that’s where drop shipping and drop shipping suppliers come in so let’s get started first by understanding what drop shipping is drop shipping is another name for price arbitrage which means you find low-cost products and sell them for a higher price with a drop shipping business you don’t need cash or storage space you just need to set up your online store list your products and focus on marketing and selling it works like this first you find and source a product with a low wholesale price from a supplier then you put that product on your store and list it for a higher price when the customers purchase your item you take that order and send it to the supplier the supplier then sends the order directly to the customer and you get to keep the difference the great things about drop shipping it’s easy to set up a store you don’t have to worry about inventory there’s little risk to you as the seller there are millions of products you can sell it’s possible to have a drop shipping business anywhere in the world now that we’ve talked about what drop shipping is it’s time to tell you the steps to get started on your own drop shipping ecommerce store ready let’s dive in step 1 figure out your niche one of the biggest misconceptions you’ll hear about drop shipping is that you can be successful in any niche no matter how you personally feel about it we hate to break it to you but this is simply not true without a knowledge of the niche you choose you’re not going to be able to pick up on anything fishy about the products when it comes to pricing the process or anything else related picking a niche you fully understand will give you an advantage over your competitors especially if they haven’t invested the same amount of research or personal experience as you have if you’re struggling with how to pick the perfect niche to dive into consider these steps number one identify your interests and passions you probably already know this but having your own business is not always going to be easier you’re gonna feel like giving up and it’s going to be even easier to want to give up if you’re not passionate about what you’re selling if you don’t like fishing don’t sell fishing stay number two identify problems that you and your niche can solve in order to create a profitable business you’re going to want to find out the problems that customers in your niche are having and create solutions for them you can check forums like kora to see what consumers in your niche are talking about number three research your competition is the niche you’re interested in oversaturated if so can they be beat is it worth beating them almost any niche you can think of is already going to have a group of people selling now that doesn’t mean you can’t hop on the bandwagon just be ready for some competition number four determine whether your niche is profitable or not will you be able to get a good amount of money from your niche check sites like eBay and Amazon and that there’s not a lot of consumer traffic in that area it might be an area to steer away from but remember above everything there is no set way to find the perfect niche for you your interests will vary and it may be hard to settle on a niche but keep in mind that you’ll learn more from doing than you will from planning protip it also helps if you have sellers experience in the niche you pick such as you’re a consumer in this niche yourself you’ve already purchased things in this niche you know what’s good and bad about them and how you can make them better you’ve witnessed other businesses in this niche rise and fall you see the mistakes that they made and you try to avoid or fix them now on to step two find a dropship supplier finding a wholesale supplier may sound difficult but luckily for you we have an entire directory filled with reputable suppliers with products from farming equipment to cosmetics let me go ahead and show you that right now so let’s say I wanted to find fashion jewelry I’ll go to our directory find suppliers fashion jewelry search suppliers supplier type drop shippers and now I’ve got 36 reputable suppliers to choose from from there I would find a supplier I like reach out to them and then get my business gears turning now before you settle on a supplier make sure you ask them the following questions how long will it take an order to be shipped once placed what shipping methods do they offer and what are their track systems like what are their quality control systems do they offer warranties are they able to provide you with updated product photos and videos the more information you have the better you’re able to serve your customers step 3 get a sales tax ID sales tax also known as retail or resellers license tax ID resale number resale certificate or vendors license is a tax levied on all sales of physical goods to consumers within most states while it’s important that you collect the exact amount of sales tax otherwise you’ll be held responsible for the difference not all eBay sellers need a sales tax ID that being said some wholesale suppliers will require you to have one before they even do business with you you’re gonna need to get a sales tax ID if you’re in the United States or Canada and running a business not just selling items from around the house applying for a tax ID is easy and inexpensive you can do it by visiting your local county clerk’s office or online just google your state plus sales tax ID to get a sales tax ID you may need to be a business entity a company or a sole proprietor which applies to a lot of at home businesses and have a federal tax ID number step 4 choose your selling platform eBay is known as the world’s easiest online marketplace for beginners it’s one of the best e-commerce platforms to start off on but that doesn’t mean there aren’t other options to choose from Amazon is the world’s largest online marketplace because it’s a retail marketplace and Mazon has a better venue to sell mass-market goods most people think that Amazon and eBay are the only options but we’re here to tell you that they’re not sites like Ruby lane and Bonanza are also great for new e-commerce store owners now there are other online auction sites to choose from not everyone checks eBay first so try out some other options and see what you can do with many other sites being free to join there’s not a good reason to not try them for sellers who are really looking to diversify consider setting up your own store sale who stores actually is offering a free 30-day trial for their stores right now you can get the information for that in the description below try it right after this video see for yourself step 5 promote your store if you’re just starting out it may be hard to gain traction with your new door even if there’s not a lot of other competitors in order to gain a following you’re going to need to work extra hard on promoting your store here are three strategies to do that number one build a bomb email list research done by marketing Sherpa found that 60% of marketers realized email marketing produced an ROI or return on investment for their company when asked what the estimated ROI from email marketing programs for the company were the overall group reported 119 percent a figure that’s tough for any online store owner to ignore number two create referral discounts it’s a classic strategy get somebody to tell somebody else about your store give them a slight price trap and then you have more customers uber started a referral program which allowed new customers to get a free ride if they signed up for the app through their friend you can offer a similar discount by saying something like sign up for my email and get 10% off your first order it’s a deal you want it I know you do come on number 3 send samples of your products to influencers whether you’re in the beauty niche or the car niche having a high-ranking influencer promote your product might be worth it all you have to do is send them an email explain what your product is and if they’re down send it their way now keep in mind that bloggers and influencers get a lot of hey try out my product emails everyday so you’re gonna have to find a creative way to stand out boom we’ve reached the end now you should know how to start your own e-commerce store from scratch let’s get it going the work is far from over though now you have to successfully run your business but don’t worry though as long as you follow these next tips you’re bound to have a drop shipping business that’ll last for years to come here’s the tips continue to update your website work on your SEO and create high quality content for your website that’ll help bring in traffic maintain a relationship with the supplier keep an eye on the products you already have and when you feel ready for it consider adding more remember you can use salehoo’s market research lab to find hot products keep up with your customer service answer emails and questions and keep your FAQ page up-to-date and finally stay on top of your social media refine your ads run contests and promote like crazy thanks so much for watching this video and if you have any comments or questions you can leave them down below and I will personally answer them oh and hey make sure you download our latest ebook the information for that will be in the description again thanks for watching and I’ll see you in our next video [Music]