7 Legit Reasons To Try Dropshipping Business Right Now
In our last post, we talked about what is dropshipping and how does it really work?. We hope it enticed you to learn more about dropshipping and start dropshipping. Just to put into perspective, let's see some numbers to understand the potential of dropshipping.
Number Showing Why You Should Think About Dropshipping: Numbers never lie. Here are some statistics which tell us more about the potential of dropshipping in the coming future:
1. Retail e-commerce sales in 2019 were somewhere around $3.46 trillion and projected to increase further in the coming future.
2. Around 28 % of online retailers are already engaged in dropshipping and it's growing year by year.
3. The number of online buyers is estimated to reach a figure of 2.41 billion by 2021.
Still not sure about dropshipping? What if we gave you some legit reasons to think about trying dropshipping right now?. Here are 7 legit reasons why you should consider dropshipping business this year :
1. Small startup cost
Are you wondering how much capital I need to have to start dropshipping?. The answer is not much. Many businesses fail due to insufficient cash flow problems but in the case of dropshipping, it's not really a problem. Some of the essential things you need to start your dropshipping business are :
1. Online store or storefront. There are many platforms like Shopify which can help you in creating your online store with the starting cost of $28 per month.
2. A personal computer, laptop, or smartphone, which you might already have.
3. Internet connection, which again is pretty easily available in today's world.
2. Work from anywhere
One of the best parts of being a dropshipper is that you can work from anywhere you want. You can operate in any part of the world, shipping from suppliers across the world and serve customers all around the world just using your computer and internet. If you love traveling, you can travel around the world without halting your business at any moment.
3. You are your own boss
Being your own boss is quite a liberating experience and can lead you to the path of both financial freedom and personal happiness which is very important in today's volatile world. You can decide your working style, your working hour and most importantly you get the chance to control your financial status (which depends on your will to succeed) and your happiness.
4. Low business running cost
As we earlier stated, dropshipping can be done from anywhere, whether it's home or a cafe you enjoy going. Dropshipping business doesn't need other overheads like office space rent, maintaining staff salaries, hiring support staff, hiring developers for online store development unless your business is booming and you are ready to scale up rapidly.
5. No need for inventory
One of the most important investments in operating retail is buying inventory and managing inventory. With dropshipping, all you need is the product listing on your online store isn't that great?. Since you don't own inventory, you don't need to invest in buying inventory and managing it. For the purpose of inventory management, there are apps like Oberlo, HyperSKU, Spocket, etc which help you in keeping everything on track.
6. Worldwide opportunities
The business of dropshipping is not restricted by the location. It allows you to sell and ship globally to any location. There might be some cases where suppliers won't ship to certain locations but those are far and few. Thus, in the case of dropshipping business, the world is your customer, depending on the choice you make as a dropshipper.
7. Scalable business model
Dropshipping is usually a low-risk business for you as an eCommerce entrepreneur. The very advantage of being on the internet means that you will not have to invest money in a physical store plus dropshipping business don't have the overhead of operating activities. There are many successful dropshippers who are running a profitable business with over $200 per month. We are sure that this will increase as you grow but not as much as the overhead of inventory and warehousing.
We hope that this post has given you some valid reasons to think about dropshipping more seriously. We are sure that it will change your life. As a matter of fact, the only reason it won’t change your life is if you don’t take the first step yourself.
Thank you so much for reading this post, please feel free to leave your feedback.