How to Start a Dropshipping Business in 2020 (and make money from it!)

One of the best business ideas today is to start an eCommerce store. The advantages of starting a dropshipping business are that you are in control of your profits, you can set your own prices, and choose your own brand. The best thing about having a dropshipping business is that you don’t need to house your products and you don’t need to pay for products until a customer actually orders. The Dropshipping business has a low starting risk and can be a very profitable business to start in 2020. 

In this post, you’ll learn:

• What a dropshipping business is
• Why a dropshipping business is a very lucrative business idea
• How to set up your Dropshipping business and find Suppliers
• How to market your brand. 
• Online tools that are needed to skyrocket your business 

What is a Dropshipping Business? 

Well to simply put, a dropshipping business is a venture that allows you to run a shorefront without housing any of the inventory. You’ll not be responsible for packaging or shipping the products. Once a customer makes a purchase from your storefront, your supplier will ship the product(s) directly to the customer’s shipping address. 

Why is a Dropshipping business very profitable? 

If you’re looking for a business idea that has low risk, easy to startup, and is profitable, then starting a dropshipping business would be a good idea. With a dropshipping business, you’re in control of how much you want to charge for an item, you have control over your customers and can re-sell to them anytime. You are the ultimate decision-maker of your storefront and you can offer discounts or special promos that will increase your customer volume. 

Can I make money with a Dropshipping Business?

Yes, you can definitely make money with a dropshipping business. Nowadays a lot of people, including myself, purchase products online. The making money process of a dropshipping business includes marketing the right products to a group of audience at the right price and with the right tools.  

How to set up a dropshipping business and make money from it 

1. Select a niche for your Dropshipping Business 

With any successful business, a feasibility study is good to measure how successful it can be. It’s the same way with a dropshipping business, you’ll need to ensure that the products that you’re selling are something that people would be interested in. Hence selecting the right niche plays an integral part in the success of your dropshipping business. 

With Spocket you’ll be able to see the most trending products and run your store easily. You’ll also be able to select products from lots of suppliers with the best prices and delivery times. 

2. Name your Dropshipping  Storefront 

Your business name matters! Select your domain for $12.99/year at Bluehost. It’s recommended that you choose a .com domain and business name that is not niche specific. 

3. Create a Storefront

To start a dropshipping business you’ll need to create a storefront on any one of these websites; Shopify, Wix, Woocomerce, or Bigcommerce. You can also purchase ready-made storefronts that are placed for sale on exchange.com. If you don’t have the budget to purchase a ready-made storefront on exchange.com, you can create your storefront on Wix and pay a small fee per month.  If you’re not a designer, Wix makes it easy for you to create your website with their drag and drop features. You can complete your online store in a few hours.                                                                  

4. Search Engine Optimization

After you’ve decided what types of products your storefront will have, it’s time to focus on the store’s SEO.  You need to know the top influencers in your niche and how they’re ranking their products for search engines. SEMrush is one of the best SEO tools to find the gaps and keep you ahead of your competitors. SEMrush also saves you lots of time by providing the best keywords you can use for your products. 

5. Choose a Supplier 

Once you’re done designing your Wix store, it’s now time to start importing products. You can find the best suppliers with Spocket, see step by step how you can start importing products to your storefront. 

Sign up with Spocket

Select “My shop” and connect your shop

You can filter your Spocket suppliers by location, delivery time, and product cost.

Click on the category to find products to import. Hover on a product to start importing.

If your dropshipping storefront is on Shopify or Wix you can also use Spocket to import products from Aliexpress.

You can also set up your branded invoice on Spocket by simply uploading your logo, a personal note, and contact details under the settings tab.

6. Marketing your Dropshipping Storefront 

There are several ways to market your dropshipping business. You can market your business through SEO, Paid ads, influencer marketing, social media, and content marketing.

SEO: SEMrush is a great tool to help skyrocket your optimization so you can rank in search engines.

Instagram Influencer Marketing: You can reach out to influencers that are in the same niche and ask them for a sponsored shoutout.

Content marketing:  Creating an optimized blog on your storefront can also get customers onto your website. You can use GetResposnse or Leadpages to send emails to customers that opt-in on your website. Customers may opt-in or subscribe on your website because of a special promotion or just by creating a member’s account.

Social Media: Use Facebook ads to market your brand to an audience in specific locations and age range. You can also do organic marketing through Facebook, Instagram, and Twitter.

Paid Ads: These include google ads or bing ads.

While doing all these marketing approaches, you can track or measure success by using Google Analytics. You’ll be able to see where all your website traffic is coming from, the average time a visitor stays on your website, and also real-time visitors.

You can use POWR  to increase your dropshipping sales. Powr is a free website plugin that can help to capture customer’s attention through website popups, timer, and forms.

Conclusion: 

Now that we have covered how to start a dropshipping business and make money from it in 2020, it’s time to start your own profitable storefront. Let me know in the comments what are your thoughts on starting a dropshipping business.

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