Starting a successful business is not all about putting, “Now open”, as some persons think. There is more to that. And since the internet has become a game changer giving little businesses the opportunity of being heard in an endless world, one can successfully launch a business without putting up the usual, “Now open” printed in bold letters. Think of dropshipping business. Although, there are other businesses with similar models as dropshipping.
If starting a business that gives you the opportunity of not leaving the comfort of your home is your thing, I advice you consider dropshipping business.
What actually is dropshipping and how you can successfully run the business are all contained here.
An Overview of Dropshipping Business
For some time now, the Nigerian internet business atmosphere has being buzzing with dropshipping business as the go to comfort home based business for any kind of person who wants to do business. Just like its counterpart, Mimi importation business.
And as such, in this work, I will be taking you through the intricate nature of dropshipping business. I hope that this guide serves you very well. And if you have any doubt, question in your mind, don’t forget to comment below or contact us.
WHAT IS DROPSHIPPING
Just as all business opportunity involves selling of product or services, so also is dropshipping.
Thus, Dropshipping is selling a product without buying or having direct physical possession of the product. In other words, Dropshipping is a type of business model which enables you as a business person to operate without maintaining inventory, having a warehouse to store the products but only display the image and description of the product you intending to sell in your online store.
In this business model, you don’t involve yourself even in the shipping process. Once a customer locate your online store, likes a product in it, he/she pays you for the item. Then you will proceed to send the item and the location of the customer to your supplier who will then ship the product to your customer.
It basically means that you serve as a middle man in the chain of sale between the buyer and seller.
Here is an infographic on dropshipping business model.
Once you send out your customer’s order to your supplier, the supplier packages the product with your name and ship it to the customer’s address.
How To Start A Dropshipping Business In Nigeria
1. Choose a product to sell
One most important step in business is to clearly identify what you want to sell. Many persons want to sell anything they lay hand on. While this may work for some person, it’s not ideal for a serious business person, nay and entrepreneur.
I always tell people to sell what people need and not what you think they want. In business, there is only one boss, that’s the customer. Also, b
One way to sell what people need is to carry out your research on trending niche products. You can achieve this using Google trend. Further, try as much as possible to choose a product your have interest in. This will go a long way in ensuring that you cope with the stress and downside of running a business.
Using Google trend for instance, the product you want to sell should be a product that has high demand. Here is how the Google trend looks like;
Looking at the above image, you see that the blue line is going up. This shows that the item searched for is in high demand and will remain so for a long time.
Finally, you don’t necessarily need to have tons of products in your dropshipping store to be successful. Your focus should be on hot products. For examples, wearable and electronics for some time now have been in high demand. But you need to be sure whether such product also will sell in your target location.
2. Find A Reliable Supplier
The importance of your supplier cannot be overstressed in the chain of dropshipping. Just like a coach is critical to the success of an entrepreneur, a supplier is the backbone of a dropshipper. Without a reliable supplier, the business of a dropshipper would long have been gone. Thus, you need to put in quality amount of time and wisdom in sourcing for a supplier.
When it comes to the online market place, AliExpress the company own by Alibaba is a giant name. It’s the best option for anyone who wants to venture into dropshipping in Nigeria. It’s however, advisable that you take your time to go through supplier’s selling rate before you start the
Alternatively, you can source for local producers of the products you want to sell. Aside that, AliExpress should be your go-to place for your products.
80% of dropshippers in Nigeria uses AliExpress because their products are quite cheap giving you a high profit margin.
3. Choose A Selling Platform
The platform will serve as your office and a warehouse to keep your products. Importantly, you should also take time in building your store, because, professionalism breed good reputation. An experience thought me this. And that is why you should consider how you want to be perceived. For this, I will explain three methods of building your online store.
- Shopify and,
- Selling on eCommerce websites
These three methods are not without their advantage and disadvantage.
While selling on eCommerce websites like Jumia, Konga, etc is free. It alternatively takes care of so many problems of running an eCommerce store, the technical aspects that you may not have knowledge of. It
I would therefore, recommend the other two means, where you have the resources to manage.
With wordpress, you can professionally build your website for your business, having full control of the process. But first, you need a domain name and a hosting company to bring you business online. Thereafter, you can fully integrate www.woocommerce.com/ and AliDropship. There is also pre-made dropshipping website from AliDropship.
But I would advise you hire a WordPress engineer to do a nice website for you. Send us a message if you ever need to build a website. WhatsApp: 09015226474
Also, with Shopify, you can build your online store in no distant time. The platform gives you a 14days free
If you don’t want to have a website of your own, then I recommend you setup a Shopify store.
4. Promote your business
Having a business with an online presence isn’t just enough. Are you really visible to your customers? This is a question that you should ask yourself. Having a nice product without anyone patronizing you is as good as not having.
You don’t just open an online store and expect that visitors will flood in. remember nothing happens until you take action.
Marketing is the livewire of every business. Thus, you have to take your business to your audience. Yes! Take it to their door step. And the best way to do that in this digital era as a Nigerian is via facebook, Google, instagram and twitter.
You can start by creating a facebool business page. Run a paid advert with your lowest price but high quality product to drive more traffic to your store. Believe me; once a customer buys one, he/she is more likely to come back next time. So you have to be strategic in your thinking.
If you have a website, you can also optimize keywords pertaining to your products to get traffic from search engines like Google.
Also, collecting the email of prospective client and is a good way to remarket them new products and discount offers.
Finally, you can leverage on instagram, twitter influencers to promote your products.
5. Your Dropshipping Business Is set
If you have carefully followed and implemented the above steps, then you business is set to start making you money.
As earlier said, you business will be made ease working with this dropshipping plugin called “The AliDropship plugin”. It’s plugin is specifically designed for dropshipping business.
The plugin helps you to import product descriptions, photos, and other vital information from your supplier website to your online dropshipping store.
And it’s very easy. With just a click when a product is sold on your online store, it will automatically sends the customer details to your supplier. All you then have left to be done is to pay your supplier.
Thereafter the supplier takes the hassle associated with shipping the product to your customer address. And the customer won’t know the product is from a third party because everything will be in your name.
Indeed, Drop shipping has proven to be a good source of income both as a side business and on a full time base when you do it right.
However, the business is not without challenges. One most common challenges faced by entrepreneurs in this line of business is the issue of payment gateway. Nonetheless, as a dropshipper, you can use any of these two payment gateways.
PayPal is the most commonly accepted payment gateways but sadly Nigerians are not allowed to receive payment with it. You can only make payment with it as a Nigerian but can receive money. This is a very unfortunate act.
However, there is an escape route for any Nigerian who is determined to use PayPal account in receiving payment.
Another payment gateway is Paystack.
This platform accepts payment by default only in Nigeria. Nevertheless if you desire to receive payment internationally, then you need to operate under a registered business name with the Nigerian Corporate Affairs Commission and also have a corporate business bank account with the registered business name.
And if you have the above criteria certified, you can create an account with them send requesting to receive international payment.
Dropshipping business is an extremely popular and yet lucrative business model for entrepreneurs who love to work from the comfort of their home. Since you don’t need a physical store to stock your product, with your smart phone or laptop and internet connection, you are good to go.
However, to succeed in this line of business, you must know your audience and sell hot product. You can check out the list of most trending products.
And don’t forget if you need a website for your dropshipping business, just Whatsapp us: 09015226474 .
Was this work helpful to you? Please leave a comment below and I will respond to assist you further.