It’s easy to be attracted to wanting to start a dropshipping business. After all, it’s advertised for its ease and convenience, especially when compared to various other types of businesses.
But nothing great comes easy, so it’s important to understand dropshipping for what it really is – with all its marvelous perks and glory, but also its limitations.
This is why this guide not only explains what dropshipping is, but also takes you through how you can maneuver a dropshipping business, what niches to pick, how to start it, and how to keep growing it.
To learn the ins and outs of dropshipping, how it works, how it can serve you, and what to be wary of, we first need to start with a simple definition of what dropshipping is.
Dropshipping is a retail fulfillment type where you sell products online without having to have the inventory yourself. How it works is that you display another vendor’s or third-party supplier’s products on your own online store after having added a profit margin for you.
From there, going into detail about how exactly a dropshipping business model works is what uncovers its benefits – but also its caveats.
The dropshipping market was valued at 162.44$ billion in 2019 and is projected to grow to 591.77$ billion by 2027. Knowing how much potential dropshipping has will help you figure out whether or not it could be worth it for you in today’s economy.
But because it has many advantages, dropshipping also comes with certain flexibility that will help you adapt to its terms with more than one approach: starting it as a side job, or starting it as a full-time eCommerce business.
There are 5 basic steps to starting a dropshipping business:
But before doing any of that, it makes sense to first decide which niche your dropshipping business should provide.
Finding accurate data about profitable dropshipping niches will always be a pain for dropshippers because many of the best dropshipping niche rankings are based on the owners’ perspectives instead of any accurate research.
Figuring out your niche isn’t just about reading a list titled ‘Top 10 Dropshipping Niches in 2021’. It demands valuable and accurate insight into the ever-changing market demand so you can make up your mind on whether or not to invest in particular products.
And you don’t have to do it on your own: we’ll give you a couple of tips as well as a tool to help you the competitive edge of profitable and promising niches.