Stop Wasting Time and Start Dropshipping
Drop shipping business is an intriguing business model which creates a new horizon for everyone.
Drop shipping business truly changes the cutting edge world and alters the earth we’re all living in.
As the digital age is entering every human’s life, people are turning their heads to find a unique as well as the fulfilling life of entrepreneurs. Many passionate individuals are leaving the ordinary life behind and looking at a prospective future.
There is another prospect of the digital world getting more and more attention from the millennials who are highly active on the internet to make passive income while sitting comfortably at home. This prospect is even getting more attention from people who want to start a business but they do not possess or can afford an inventory or a warehouse. Moreover, today’s generation is interested in making money with little or no efforts.
What is a Dropshipping Business?
These above conditions are perfectly met by Dropshipping business. This is a unique platform where shipping of products takes place specifically to your clients from an outsider provider or merchant, without an intermediary step. Or in other words, a Dropshipping company can be easily recognized as the selling company is different and the shipping company is different.
How does Dropshipping e-Commerce business Works?
In a normal scenario, the seller does the selling as well as shipping and related tasks. However, Dropshipping conveniently separates the seller and the shipper which creates an easy working atmosphere for both the entities, especially for the seller. Because the seller receives an online order from the consumer and this order is forwarded to the distributor or shipper. On receipt of the request, the drop shipper charges you a cost for the item sold, generally discount in addition to a drop shipping expense. At that point, they bundle the products and ship them straightforwardly to the consumer. That is the reason Dropshipping creates a perfect opportunity for online stores to concentrate only on selling rather taking care of inventory or product fulfillment.
Vice President of Business Development at CTL Global Inc., Josh Miller said that it is a win-win situation for both sellers and distributors.
In the SPS study, half of the logistics firms surveys anticipated that drop shipping would represent in excess of a fourth of their deals inside the following three years, up from 30% today. Macy’s Inc. and Home Depot Inc., two dropshipping companies took advantage of the initial vacuum and sold bulky items like machines that take up a lot of room in stores and warehouses.
In a nutshell, Dropshipping e-Commerce business deals with selling a product on your webpage and leaving the worry of product fulfillment and shipping to another company. This concept offers a unique experience to the websites stores whereas, dropshipping companies need not pay to the distributor until the consumer makes the payment. Therefore, it takes away the risk from the website stores of purchasing non-selling products. This enables the professionals as well as non-professionals to enter into the business model which asks the minimum investment from the new drop shippers.
The Advantages of Dropshipping Business
1. The need for less capital-
As mentioned above, Dropshipping Companies requires very less money compared to any other business model. Generally, retail store owners need to invest so much money to buy inventory. Dropshipping e-Commerce business is so convenient for the website stores that it allows them to not purchase a product until and unless customer made a payment in advance for it. Therefore, Dropshipping business allows you to start your own business without much money.
2. The simplicity of the Dropshipping eCommerce Model-
Dropshipping is a very convenient model to start and it removes the barriers such as,
- 1) Running a product warehouse
- 2) Buy or lease a warehouse
- 3) Parcel and transportation of products
- 4) Following the trail of inventory
- 5) Hassle of accounting
- 6) Hassle of returns and inbound shipments
3. Low Overhead-
Dropshipping business model gives you an opportunity to avoid hassles like buying inventory or running a warehouse which directly decreases overhead costs. Consequently, drop shipping business owners handle their business from home with a laptop costing only a hundred dollars per month. As it is expected that the increase in business will cause an increase in expenses but it won’t be as much compared to traditional businesses.
4. No Restriction of Place-
Drop Shipping is a new era business venture. It only needs an internet connection and a laptop or tablet. As far as a good connection to connect with the ship droppers as well as with consumers, you are good to go.
5. Availability of Wide Range of Products-
Drop Shipping business do not ask you to buy products in advance. This gives you an ample opportunity to offer a variety of products to your consumers. The inventory available in the supplier’s warehouse allows you to put that product on your website without any extra charges.
6. Expansion of Business is Easy-
Drop Shipping allows website store owners to leave most of the responsibility on to the shoulders of suppliers which makes a room for the owners to expand their business.
Top 10 Successful Dropshipping Stores in 2018
Drop Shopping is an interesting venture for aspiring entrepreneurs but most of the individuals do not know about the online website store.
Therefore, before starting your own store, we show you the top 10 successful drop shipping store to get an idea about this concept:
1) Wayfair – An Online Furniture Store. Revenue $ 8.3 million/Month
Steve Conine and Niraj Shah started the most successful drop shipping website, Wayfair in 2002 to provide a variety of furniture, home furnishings, décor and goods, and many more from 10,000 highly professional suppliers. After establishing this business, both founders acknowledged the need of a warehouse to meet the demands of the consumers. In 2011, Conine and Shah utilized the warehouse, however, 90% of the demands were fulfilled by suppliers. You can learn from these two gentlemen and achieve a growth same as Wayfair did.
2) SkinnyMe Tea – A Health and Fitness Store. Revenue $600K/Month
Established in Australia, SkinnyMe Tea, a drop shipping company, carries a novel objective of providing a better way for health and fitness. The dropshipping e-commerce business has cleverly utilized messenger chatbots to convey and advertise their drop shipping store among the population. As it has been seen that more and more people are relying on Facebook’s chatbots to exchange communication with friends and family. Also, they receive the latest news and updates which exposes them to various market products. This dropshipping store will give you an understanding that you need to check which medium reaches consumers not only faster but an effective one.
3) Taylor Stitch – An Apparel Store. Revenue $125K/Month
It has been seen that an average U.S. citizen spends 3 hours and 15 minutes each day. The founder of Taylor Stitch utilized this information and created a mobile-friendly page for their drop shipping store. This company has seized every opportunity to attract these mobile maniacs to shop on Taylor Stitch. The dropshipping e-commerce business has added features such as an eye-catching image, solid promotion with a captivating CTA, minimal design on its landing page. Therefore, this dropshipping gives an invaluable insight which shows that you need to target your intended audience and find their favorite medium to acclimatize your website accordingly.
4) Beardbrand – A Grooming Store. Revenue $120K/Month
Founded in 2012 by Eric Bandholz, this drop shipping store, Beardbrand has been a point of attraction for urban beardsmen and created a community of its own. It has been proven that 80% of information is grasped through visuals. Therefore, Beardbrand has utilized this visual method and made their home page symbolic with the help of a powerful picture. Also, they have utilized a simple method to generate more newsletter. The trick is a small red icon in the upper right of the website shows that there is an unread message and by our habitual behavior of clearing out of our email and social media notifications, we click the icon and the newsletter window pop-up comes right in front of you. This dropshipping store provides you a simple guide to be unique in your own way on the online platform.
5) Bremont – A Watch Store. Revenue $116K/Month
Bremont is a well known British chronometer dropshipping store. Founded in 2002, by two English brothers, Nick and Giles English inspired and passionate about aviation. The store is popular for its aviation brand but also produces various watches such as pilot chronographs, dive watches and sailboat racing watches. In 2017, the company has made £14 million by drop shipping and has become one of the successful dropshipping e-Commerce business.
6) Khara Kapas – An Apparel Store. Revenue $45,000/Month
Established in 2015, Khara Kapas is a fashion and design startup. Founder Shilpi Yadav created this brand to reinstate Indian traditional style clothing and give a makeover according to the needs of the 21st century. Khara Kapas is a Hindi word which can be translated as ‘pure cotton.’ The store was started on a belief that ‘pure cotton’ clothes bring happiness into people’s life. The clothing material includes elegance of cotton, earthy colors, versatile prints and minimum design which is an iconic symbol of simplistic as well as unrestrained spirit style.
By bringing this reincarnation of traditional Indian style clothing into the drop shipping e-Commerce business, this drop shipping store is making $45,000/month.
7) M2S BIKES – An Electric Bike Store. Revenue $ 30,000/month
Established in 2015, this drop shipping store was created by keeping in mind to provide modest, standard electric bikes to the people. The standard electric bikes can be utilized for ease traveling through bikes to work as well as a farmers market and of course enjoy a fun trip on a bike without sweating. This drop shopping e-Commerce business utilizes behavior based pop-up to collect email leads which turn out into sales by providing attractive discount codes. M2S Bikes has proven themselves in the e-commerce arena. The strategy of cart abandonment cash machine uplifted M2S Bikes and give a monthly revenue of $30,000/month.
8) Mod – A Paper NoteBook Store. Revenue $30,000/month
Marshall Haas and Jon Wheatley launched Mod, a dropshipping website which displays paper notebooks, an amalgamation of both analogs as well as digital notebooks. Jon Wheatly said that they felt it was important to store handwritten notes in a digital format and make the most of it. By using exit intent popup strategy, this drop shipping store is getting a revenue of $30,000/month.
9) Watch Outfitters – A Watch Store. Revenue$13,500/Month
Another distinguished watch store founded by a 17-year-old student, Jonah. Founded in 2016, Watch Outfitters runs on a dictum set by the founder that the watches should not be associated with money rather it should be associated with the peculiar diagram, excellent substance, charismatic impression. The founder says that he had no experience to run an online store. After watching webinars, blogs from Shopify and YouTube tutorials, Jonah made the decision to open his own dropshipping store. By specifically targeting the crowd of people who want standard watches at an economical rate, Jonah is successfully earning from the dropshipping website a staggering amount of $13,500/month.
10) A Book Apart – A Design Store for Books. A Publisher of Designer Books Revenue $8,333/month
A Book Apart is a brainchild of Jeffrey Zeldman and Jason Santa Maria, who wanted to publish books in a unique way on single topics in an efficient and fun format. They provide books in two length formats, one is standard which contains 100-150 pages while second is a brief which has 50-70 pages. This website focuses on understanding a topic from experts and making it into a shorter book. They have attracted the consumers by showcasing their ingenuine designing skills for books. You can immediately appreciate a book -designed by A Book Apart- by its simple font, solid-covered colored covers and clean design.
With all these attractive qualities, this drop shipping website collects a monthly revenue of $8,333.
These dropshipping stores vary in their business success stories. You can also achieve a height of success by learning digital marketing for e-commerce business.