For those seniors who have a tight operating budget drop shipping may be the way to go. Not everyone can afford all the start-up costs a new business incurs and it is a wise move to streamline operations until you are financially ready. If you are not sure about dropshipping just continue to read our dropshipping review.
There is no company to analyze as drop shipping can be done almost any time and anywhere. What is talked about in this review applies to all dropshipping opportunities you will have.
What is dropshipping?
To keep everything simple, dropshipping is where the store does not stock the products they are selling. Instead, the store contacts the manufacturer, the distributor, another retailer, or wherever the products are stored and have those businesses send out the products to your customers.
What this does for your senior business is keep your overhead low and your worries to a minimum. Not only do you not have to find a warehouse to keep the products you are selling, but you also do not have to worry about damage, shipping, theft, and other negatives.
Your costs to run your retirement business go way down making it more affordable to operate.
How does dropshipping work?
There are several steps you need to take in order to set up this dropshipping system for your business. usually, you will have to pay the supplier or manufacturer a fee for their part in this service. How much you pay is negotiated between you and the drop shipper.
After finding a good supplier of those products you are selling, you make an agreement with the supplier. All products are stored at your supplier, and you open your website business and do your marketing.
When the customer places their order you contact your supplier and provide the logistic details of the customer so the supplier can ship the product to them. In a nutshell that is how it works.
Can you make money with dropshipping?
Yes, it is possible but the money you make will depend on the volume of sales you have along with keeping your drop shipping fees low. This is a cost-cutting option that works for many people who do not want the hassles that come with storing and shipping products.
It also saves you time so you can concentrate on other parts of your business that help you make more money. The more time you have on the money-making aspect of your senior business, the more money you can potentially make.
Examples Of How to Make Money with Dropshipping
The examples of where you can make money using this business strategy is in what you can avoid.
One, you save money by not paying rent on a warehouse or storage facility.
Two, you save money by not hiring employees to do the shipping and handling for you.
Three, you save money by not damaging any products and having to replace them free of charge. Four, you can deal with more problematic aspects of your business and save time, which in the long run can save you money.
Making money can be done through indirect means like dropshipping. If you get a good drop shipper who provides great customer service, you stand a chance of getting a repeat customer
Dropshipping Review: Pros
flexible locations- you can do drop shipping from anywhere you get a good internet connection
broadens your product line
lowers your overhead as you are not paying extra fees to store and ship items
easy to set up and get started if you get a good drop shipper
you do not need as much money to start your business
Dropshipping Review Cons:
lower profit margins which is not always a good idea
inventory issues- you may not be aware of when your supplier runs out of those products you are selling
becomes complicated when you use more than one dropshipping source
suppliers can make errors and you can get the blame
lack of control over the product, little branding, and customization available
Any Negatives? Beware of Lawsuits
If there are any lawsuits, those would be against specific companies that handled the drop shipping end of things. You may face lawsuits or a lot of customer complaints when your supplier runs out of inventory or makes some very bad mistakes.
While you do save a lot of money, which many senior businesses cannot afford to lose, you are relying on the supplier to help you meet your sales demands and that can be a problem. That is going to be your biggest issue as you are not in control nor can supervise the shipping end of your online business.
Is dropshipping legitimate?
There is nothing wrong with using this business model and strategy. Hundreds of thousands of people do it every day. It is a method to cut your costs and still keep your customers happy.
It is possible to overcome all those negatives especially if you are using a top-notch supplier who communicates with you. That is going to be the key to your success when you employ this option.
The toughest part will be finding those suppliers that will do great for you at an affordable cost. Once you do your research on this aspect of business, this may not seem as tough as it sounds.
Final Thoughts: Dropshipping Review
For seniors who are looking to start their next career by operating an online business, dropshipping may be the initial answer to lowering their start-up costs. It is an effective way to do business and removes a lot of hassles that would slow your other work down.
There is a lot of value to using drop shipping as it frees up your time to concentrate on other things. That is what this drop shipping review is all about. Getting you aware of the best business options you have available and can be applied to your business easily. This option is worth considering.