How To Start A Dropshipping Business In 2021?

Want to try out your luck in eCommerce along with your other existing businesses? Think about dropshipping! To begin with, dropshipping can be a good option. If you are having thoughts like ‘is dropshipping still profitable in 2021’ then let us tell you that when done right, it can help you make good profits.

It is quite easy to start your dropshipping business when you partner with a Magento development company like Mage Monkeys for your online store development. Mage Monkeys has helped numerous merchants to create dropshipping stores which are performing very well business wise.

How does dropshipping works?

In case of dropshipping, a business gets to sell its products directly to its customers without having to manage an inventory. Here the business sends the order details to the wholesaler or supplier, who then delivers the product to the customer. The customer pays for the product the price set by the business entity, who then pays the wholesaler its ‘wholesaler’ price. The rest of the profit money is kept by the business which is into dropshipping.

So, is dropshipping dead? No. If done well, you can make profits with dropshipping.

Why go with dropshipping business idea?

You may have a question – is dropshipping profitable in 2021? With lot of things going around us due to this pandemic, thinking about an online business idea is quite logical. As compared to other kind of businesses, for an entrepreneur, dropshipping can be considered as a business plan with less risks involved. Here you don’t have to go through the headache of producing any products, packing them, storing them and so on. All you have to do is to sell the products to the customers and pay the suppliers for delivering the products. This is the easiest and simplest form of doing an eCommerce business and by choosing a Magento partner like Mage Monkeys, you will be able to get started quickly.

How to start a dropshipping business?

Does dropshipping still work in 2021? Yes, when done right! Choosing a development partner like Mage Monkeys can definitely help you with a successful launch. There are a few steps that you need to follow to start your dropshipping business and they are:

• Find your niche

Before getting into anything, it is important for you to decide what you plan to sell as a part of your dropshipping business. Now this does not mean that you need to choose all the products you want to sell on your store at once. You can start by choosing a few and then broaden your product range later. You can either choose to go with your passion or choose to go for some untapped markets where you have better opportunity to serve your potential customers. However, you can start by choosing one that will actually help you make money.

• Check for your competitors, analyze them

Once you have selected your niche it is time to know your competitors in the market. You need to understand them and know what they are doing. This can be accomplished by either using some third-party tools or by Google search. You can also take some time to focus on your target audience. You can look for the trends they are following related to the products in your niche.

• Choose your supplier

Knowing your niche, choosing your products and understanding your competitors is important and so is to plan out your logistics. To make your dropshipping business work, you need to deliver the products to the customers and so you need to have a right supplier at hand. You need to find someone who can work closely with you and can be there for long term cooperation. You can come up with a list of wholesalers in your product niche and ask them whether they can deliver products to the customers on your behalf. This way you can be sure to have different suppliers delivering different goods to customers -all planned out legally. Convincing them for a long-term relationship is important as you want to have a successful business running without any hiccups.

• Set up your dropshipping store

Once everything has been planned out then it is time you think about having a store. Having an online store for such a business is inevitable and you need to start by choosing a reliable eCommerce platform like Magento. With Mage Monkeys you get to look for different opportunities related to your dropshipping business using the platform. The team at Mage Monkeys will help you setup your online business, integrate data, combine different channels and manage everything related to dropshipping from a single place.

Marketing your dropshipping business is another important thing you should care about. The Magento experts at Mage Monkeys will integrate the right marketing tools into your dropshipping site to help you get noticed.

• Optimize your site

Once you have launched your dropshipping site your work does not end here. You need to keep on optimizing the site or else things will not work out the way you expected out of it. If you want customers to come to your store and do business with you, it is important you optimize the store. This will help you get noticed and have better conversions. So, if you are still thinking is dropshipping profitable then you need to know that well optimized store can turn out to be successful and can make you good profits.

Conclusion

Is dropshipping dead in 2021 -not actually. You have a good chance of building a dropshipping business that brings in profits when you follow the rules properly to start one. You can have your dropshipping business build on Magento and that can be done well by partnering with Mage Monkeys.