Peso Korner

Peso Korner

Sunday, September 27, 2015

No capital to start a business? Check if DROPSHIPPING is for you!

Looking for a business opportunity with a minimal capital outlay?  Quite impossible years ago, but with today's technology? Nothing is impossible anymore.

Have you heard of DROPSHIPPING? I've been browsing online a few days back, looking for things and stuff I can sell in my 2 online shops then viola, I stumpled upon "dropship", curious what it meant so I googled it and and got this from Shopify: "  Dropshipping is a retail fulfillment method where a store doesn't keep the products it sells in stock. Instead, when a store sells a product, it purchases the item from a third party and has it shipped directly to the customer. As a result, the merchant never sees or handles the product."  And my eyes sparkled! 

All the issues we have with retailing are now addressed by dropshipping, no need for capital, no need for inventory! Just your marketing skills and a reliable procedure.

All you'll be needing in this type of business:
  1. A stable internet connection;
  2. Your marketing skills;
  3. An online marketing tool (could be an fb page, instagram, twitter, website where you can market the items); 
  4. An online banking facility to conveniently transfer funds to the manufacturer's account (of course you have to ask the manufacturer/company what payment methods are available most of them accepts BPI and BDO and both banks have online transfer facilities, you just have to enrol the details at your branch for the first time and next is easy breezy real time fund transfer);
  5. Word of honour (when your customer pays, be sure to honour their purchase and complete the transaction with your manufacturer /supplier and arrange the delivery to your buyer). Believe in KARMA! Bogus sellers are a big NO NO! Take care of your reputation as an online seller!
  6. Guts (you can do it! the process is not that difficult!). 

Benefits of Dropshipping:
  1. Photos of the products are readily available from the manufacturer for your use ;
  2. No need for inventory on hand; 
  3. Less hassle on packing and shipping the items;
  4. You'll have your profit outright for every transaction; 
  5. Your only job is just to sell the items and take orders.

So, is dropshipping for you?

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