As with any venture, starting a dropshipping company may seem intimidating. Even so, it’s a breakthrough in the entrepreneurial world. The reality, however, is that dropshipping is not a get-rich-quick scheme simply because the process can be challenging. You are only assured of building a sustainable source of income from your new eCommerce store if you play your cards right.
What is Dropshipping?
Dropshipping is a type of retail fulfilment for managing an eCommerce store that costs little to no resources. Unlike traditional online retail, dropshipping removes the merchant’s responsibility for fulfilling orders. Therefore, you are spared the time and cost associated with manufacturing products, acquiring and maintaining stock, and shipping products to customers. A lower overhead can also help reduce initial outlays for entrepreneurs building a start-up eCommerce business, especially those on a limited budget.
The main benefit of dropshipping is that you can outsource inventory management and order fulfilment to third-party suppliers, bypassing the arduous process of maintaining an eCommerce store. With dropshipping, there are no complicated setups such as:
- Managing or paying for a warehouse
- Packing and shipping your orders
- Tracking inventory for accounting reasons
- Handling returns and inbound shipments
- Continually ordering products and managing stock level
What is Shopify?
Shopify dropshipping is more than just a store-builder or a tool to sell products. It is an eCommerce platform that offers you the opportunity to build your online business and start selling to your customers, irrespective of their location.
With Shopify App Store and APIs you can easily customize, and even build your store from the ground up. Furthermore, eCommerce businesses can sell on-site using Shopify POS, the point-of-sale app and accompanying hardware. In cases where you have an online and physical presence with Shopify, your inventory and stock are synchronized so you can manage both stores from one account.
Is Shopify the Right Platform?
It is no surprise that more than half a million entrepreneurs are already using Shopify dropshipping integration to run their businesses. Shopify uses trust as a major selling point – plenty of entrepreneurs are looking for an eCommerce platform that remains online, even during the biggest shopping holidays. Furthermore, if there are features you’d like on Shopify that are not built-in, you can always download an app from the Shopify app store to supplement your store’s functionalities.
Getting Started With Shopify
Entrepreneurs can create their own online stores using Shopify, a platform recognized as a leader in eCommerce. Shopify dropshipping plug-in is a user-friendly and hassle-free route for entrepreneurs who want to start their own online store since it’s not just for the tech-savvy. However, before you take action, consider:
- Choosing a trending dropshipping niche.
- Creating a professional store.
- Interacting with customers.
To help you get started, here are a few tips for you to create a Shopify dropshipping store with Knawat:
Be committed to your dropshipping venture
Dropshipping requires serious commitment and a long-term strategy. You are much less likely to get discouraged and quit if you approach your business with realistic expectations about what it will take and how much profit it can make.
Starting a dropshipping business requires either a large investment of time or cash. Dropshipping entrepreneurs who are launching their first business should bootstrap and invest sweat equity to build their business.
Dropshipping business investment
A dropshipping business can be built and grown by investing heavily, however that is not a favoured strategy since it will compel you to hire highly competent programmers, developers, and marketers who will quickly eat up what profits you are generating. Therefore, building the business from the ground up requires a single-minded focus on its success from the get-go but do not overextend yourself by taking on every role.
Decide on a dropshipping business idea
First impressions are everything, and you want your business to make that first impression count. You might think designing a logo for your Shopify dropshipping store is a tedious and time-consuming task but it will give your customers a lasting impression of your brand. Be sure to take some time to consider how you want your logo to appear, and how it can blend in with your store’s design.
In case you need some inspiration, Shopify curates a list of trending products based on the top-selling categories on their platform. Take a look at different locations, competitors, and trends and make decisions based on how lucrative it can be.
Create a competitor analysis
Once you have decided what you’re going to sell, you should investigate your competitors and understand how they operate. Dropshipping competitors can offer great insight into success and assist you in building a stronger marketing strategy.
Sort dropshipping suppliers to choose from
Suppliers are the lifeblood of dropshipping. Once you have identified what products you want to sell and which can be profitable, it is important that you find a dropshipping supplier who offers the high-quality service you need to grow. With Shopify dropshipping plug-in, you can find potential suppliers efficiently and effortlessly.
Getting Your Shopify Dropshipping Business Off the Ground
An all-in-one eCommerce platform like Shopify is what you need next to start a dropshipping business. Your website will be your hub for sending traffic, selling products, and processing payments. With Shopify, you are allowed to sell in multiple locations and currencies, accept payments with different currencies and manage products seamlessly.
Take control of your finances
Start-ups who blend their personal and business finances make one of the most common mistakes as business owners. To the extent possible, you should keep your business and personal finances separate. Opening new accounts in your business’ name is the best approach.
Making your first sale
Investing in your marketing and advertising strategies can help you stand out in your dropshipping business plan. If you are spending money on paid advertisements, regularly analyze which channels are working for you. To minimize costs and increase revenue, you can always modify your marketing strategy to suit your business needs and growth.
Start Dropshipping on Shopify with Knawat
Here are a few considerations to help you get started on your Shopify e-commerce business with Knawat:
- Following the design of your Shopify dropshipping store, add your products to start generating revenue with Knawat.
- Install the Knawat app for Shopify if you want to import dropshipped products. Start for free, today!
- With Knawat, you can sell on many mainstream eCommerce platforms like Shopify and Amazon, as well as social media platforms, including Facebook. Your orders are routed automatically to your dropshipping supplier, hence packaging, shipping, and inventory management are all handled for you.
A dropshipping business is a perfect choice for entrepreneurs who want to start a business with little money up-front. Knawat and Shopify have given ordinary people an exceptional way to break away from the system. However, people tend to gravitate towards the shortest route and oftentimes, become indifferent to the underlying intent of setting up an eCommerce business. A lack of education is to blame.
Shopify and Knawat enable you to weed out the good from the bad. To expand your product offering, Knawat dropshipping app allows you to import top-quality Turkish and European wholesale products to your Shopify store. From electronics to fashion, toys, and other trending items, you can add products from dropshipping suppliers around the world to your online store with a single click. Whether you’re a new business start-up or a seasoned eCommerce veteran, Knawat is your way towards a low-risk, low-cost solution to begin selling online.