Myth #4: Drop Shipping is a Magic Product Sourcing Solution
Drop shipping is a practical and viable solution for many businesses. That said drop shipping is not the answer for everyone. Whether drop shipping is right for your business depends on what you are looking for in a product sourcing solution.
Drop shipping is right for entrepreneurs who want instant access to brand name products that are in demand, the ability to change the types of products they sell at any time, and have product images and details provided to them. Drop shipping is also for people who don’t want to have to invest capital in buying, storing, and managing stock. This solution appeals to those who do not want to procure packaging supplies, handle products, and ship orders either.
Drop shipping enables retailers to sell products that are in demand. Hot and moderate demand products lead to increased sales, higher conversion rates, and satisfied customers. Another benefit of drop ship product sourcing is the ability to expand current web store offerings. Even entrepreneurs with highly specialized, niche stores are able to dramatically boost their sales by adding drop ship products that compliment the products they already carry. These additional offerings make upselling high profit margin products a snap.
Drop shipping provides unique benefits that override common excuses and delays that hinder people from starting a business. Building your own business does not have to be a dream. Combine drop shipping with determination and you can succeed. Myriads of entrepreneurs have done it and you can too!
Learn How to Drop Ship the Easy Way with three tried and true secrets of the trade! For more great business tips and secrets, check out the informative articles at Drop Ship Access Education Library.
Check out how easy it is to start an online business with drop ship products! Watch our videos to discover the secrets to drop ship success!
Myth #3: Wholesale Suppliers Will Work With Anyone
Finding wholesale suppliers can be difficult. Wholesale directories are often filled with scammers, middlemen, and outdated information. Even if you can find a few legitimate wholesale suppliers or manufacturers, they may not work with you. Most manufacturers and wholesale suppliers have strict requirements, including the need to prove you are a business, provide bank or credit referrals, and provide proof that you can meet their high-volume purchasing requirements.
The application process has to be completed for every supplier that you want to work with. Each application can take months to process, and most suppliers won’t even let you view their products until you are approved. Fortunately, you can avoid all of that stress.
Drop Ship Access makes product sourcing simple by bringing retail entrepreneurs and wholesale suppliers together. With our service you don’t have to worry about meeting seemingly impossible requirements. We won’t check your credit, and we don’t require referrals. You don’t have to prove that you own a business, and you don’t have to commit to huge orders. Our service saves you time, money, and stress.
Product Sourcing Solution
Drop ship product sourcing is a practical solution that solves many major business issues including the most obvious issue: finding high quality, brand name products to sell. Of course, quality is not the only concern; price is equally as important.
Drop shipping provides entrepreneurs with round the clock access to wholesale products at low prices. The ability to select products to sell on a 24/7 basis enables entrepreneurs to work around their day job and other commitments. The low wholesale prices make turning a profit so easy that anyone can do it; however, the advantages of this simple solution don’t stop at products and prices.
With drop shipping, entrepreneurs don’t have to pre-buy merchandise or stock inventory. This means no storage space is required to run a retail business. Inventory management software is also unnecessary. Not only is the cumbersome chore of handling stock dismissed, the financial risk of selling products online is minimized. If a product doesn’t sell, the entrepreneur doesn’t buy it.
Entrepreneurs gain the ability to test new products with little to no financial risk. They can launch new product lines, or start selling in additional niche markets, at any time. If the new niche doesn’t pan out, business owners can immediately stop selling those products.
Drop shipping frees entrepreneurs from shipping orders. This means no boxes and labels are required; trips to the Post Office, Fed Ex, or UPS are also unnecessary. Products are shipped directly from the supplier (drop ship provider) to the entrepreneur’s customers. Drop ship providers even supply tracking information to make the shipping process easier for everyone involved.
This product sourcing solution works well with most types of online sales platform – from eBay to websites. Many business owners start drop shipping on eBay, and then expand their business to include a web store once they realize how profitable online sales can be.
Drop shipping is an excellent product sourcing solution that saves time and money while minimizing the stress associated with running a business.
Read The Value of Drop Shipping at the Drop Ship Access Education Library to learn more!
Entrepreneurs must overcome many issues to build a successful online retail business. The four main hurdles that every aspiring retail entrepreneur must face are: product sourcing, inventory storage and management, capital investment, and financial risk. The drop shipping business model helps you solve these issues.
The most difficult issue that business owners face is where to find a consistent source of products to sell. Not just any products will do; they must be high-quality, new, in-demand, and reasonably priced. Entrepreneurs need access to these products on a regular basis; preferably when it is convenient to them. Since many entrepreneurs start building a business while working a day job, accessing their source of products at night is essential to success.
Product availability is crucial; however, an optimal source of products is also diverse. With a wide variety of available products to choose from, aspiring entrepreneurs have the opportunity to build the type of business that suits them. A diverse selection of products enables business owners to sell in several niche markets, and launch new product offerings at any time to expand their business.
Inventory Storage and Management
Before entrepreneurs can purchase inventory they must have somewhere to store stock. Storage room size requirements are dependent upon how many products the entrepreneur intends to sell. A spare room might fit the bill for some entrepreneurs, while others may need warehouse space. Of course, when a business grows, so does the storage space requirement.
Storing inventory is important, as is managing inventory. Business owners must figure out a way to manage their stock. They need to know exact inventory counts, where each product is located, and when to order more stock. Inventory management software can be quite costly.
Speaking of cost, capital is a serious issue. Capital, in this instance, is the amount of money it takes to get a business up and running. Entrepreneurs may need a hefty bankroll depending on the costs of their business solutions.
Capital investment include the cost of office equipment, office supplies, procuring stock, inventory management software, storage or warehouse space, packaging and shipping supplies, gas, and car wear and tear from driving around town to obtain stock or ship orders.
Another weighty issue--financial risk--is inherent with traditional retail business models. Before entrepreneurs can launch new product lines, or sell any products, they must acquire inventory. If the stock they purchase sells, then the business makes a profit. Unfortunately, product demands change frequently, which inevitably leads some entrepreneurs with unwanted, obsolete, or outdated merchandise. Often, the only way to move the merchandise is to sell it below cost. Obviously, this formula is not conducive to success.
Processing and Shipping Orders
Fulfilling orders is time-consuming and costly. Every order must be picked, packaged, labeled, and shipped. The cost of shipping supplies, storage space for the supplies, gas, and car maintenance add up quickly. When business starts really booming, fulfilling orders can be a full-time job; which in turn requires business owners to hire an employee or two to take care of processing and shipping orders.
Aspiring entrepreneurs must have strong time management skills to stay on top of all the issues that arise when building a business. If too much time is spent on obtaining products, handling stock, managing inventory, and fulfilling orders, then other crucial aspects of business may suffer.
Dropshipping solves these issues that traditional businesses deal with.
Learn more about How to Drop Ship Successfully at the Drop Ship Access Education Library!