Dropshipping is one of the few online businesses you can engage in, and dropshipping happens to be one of the fastest and lucrative businesses one can via into in Nigeria. So many young business individuals are participating in this business.
Dropshipping is one of the few online businesses that those not require huge capital to start with. Dropshipping is not just a business you rush into, and you need to learn the ropes of the business before you can even think of venturing into it.
This post is one the best guide that will explain the process of dropshipping in plain terms, and by the time you are through reading these posts, you should have the necessary knowledge to venture into dropshipping business.
Let’s dive into it right away and see what the process of dropshipping is all about.
What is Dropshipping?
Dropshipping, according to Wikipedia, is a system of supply chain management method in which the retailer does not keep stock of goods or items in their possession instead they transfer the customer orders and shipment details to either the manufacturer, another retailer, or wholesaler.
A standard process of dropshipping involves three stages Merchant-Online Store-Customer.
Process and Stages involve in dropshipping
- Find a hot product or Niche you want to specialize in
- Find a store or supplier
- Choose your platform
- How to Advertise your business
- Determine how to get paid
Find a hot product or Niche you want to specialize in
One of the major problem in dropshipping and even Ecommerce business, in general, is finding that winning products to sell to your customers, A good winning product can bring in 6 figure digit in profit for you while a bad product can lead to a loss.
Find a hot product can become a huge task to those starting out newly in ecommerce, one of the major ways to source for good products is to spy on your competitor, likewise you can do a product testing to see how customers react to your offers before launching out big in the business.
Find a store or Supplier
Once you have been able to find or identify with the winning products you intend to sell/market to your intending customer, the next thing is to get in touch with the supplier or store you intend to get your products from.
Once you identify the store the next thing is to contact the store and reach an agreement with them on how you intend to be a middleman between the suppliers and prospective buyers.
One thing that’s important at this stage is to agree on the billing process and remittance of funds from both parties.
Choose your Platform
Choosing your platform involves the way you intend to get your products, it could be either directly from the supplier or partnering with the store to work with them in getting the order of their items delivered to them.
We have so many platforms you can use to start your dropshipping business a few will be mention in this write-up
Some of the platform you can use to quickly kick start your dropshipping business are as follows jiji.com, jumia.com.ng, mall4shoppeer and konga.com
Steps of Applying to these sites for your dropshipping Business
Log on the official site on any of the sites listed above, register on the site and input your details correctly, after filling your details correctly browse true the different products category and choose the products that appeal to you to promote.
Note: The registration process is the same on all the sites listed above.
Contact the Sellers
Once you have identified the products you want to sell on these sites, for every product you will see the sellers contact details there.
Once you get the seller’s details the next thing is to put a call across to the seller and negotiate the price with them. Make sure for each product you want to sell you call at least 5 buyers and negotiate the price with them.
After negotiating the price, check for their product review on the page and their locations. After doing all this you can now go for the best among the sellers you contacted.
How to Advertise your products
Once you have identified the products you want to sell, the next thing is to drive traffic to the product and make a sale.
To do this you have to create a marketing campaign to get sales and the best marketing campaign I will advice is Facebook ad, you run a Facebook ad to the product to get prospective buyers and when they are convinced about your product ad they will gladly make purchase. You can set this on autopilot while you do other business.
Determine how to get Paid
The next thing is to determine how to get paid, you can do this in two ways either you get paid directly to your bank account or your contract it a payment merchant who will help you receive your payments on your behalf and their services is very safe and reliable.
I will recommend if you want to choose a payment partner you go for Paystack they are very reliable and safe.
I hope you enjoy this write up on the dropshipping business model, kindly help share with your social media network and if you have any suggestions drop comments below.