Supply chains are being redrawn by changes in macro factors. and technology is being used to connect them as organizations become more virtual. Sometimes, external forces that you have no control over can affect your business. If the industry you work in is changing, this may prompt you to change your business model as well. Online and technology-based industries are constantly changing which is why you must keep up with the curve and diversify your business.
Dropshipping and the Changing Supply-Chain Model
That’s why business models such as dropshipping is becoming so popular among the new-age entrepreneurs. The primary concept of dropshipping is that you’re selling products you don’t actually own. It signifies that you can set up an online store and sell products to clients and forward the order to your dropshipping supplier. They in return, they will ship the product to your customer directly on behalf of your company. Dropshipping is a business model that allows you to sell and ship products you don’t own and don’t stock. Your suppliers – wholesalers or manufacturers – produce the goods, warehouse them, and ship them to your customers for you.
Dropshipping, A Proven Method of Success
Over the years, dropshipping has become a proven method of success to the small and medium size businesses. Dropshipping is a fantastic way to sell items online – you just need to make sure that the prices you can source products from suppliers for, actually match up on eBay or another marketplace and allow you to make a profit. The whole nature of dropshipping business means that you can easily open a dropshipping store at any moment of your life and run it conveniently within the comfort of your own home. Dropshipping enables you to take advantage of that strategy very easily.
How Automated Solutions Giving A New Meaning to Dropshipping
With dozens of automated solutions, dropshipping doesn’t demand you to invest all your time and efforts in the store management. While there are some disadvantages to the shipping model – such as placing one of the most crucial aspects of your business in the hands of a third-party – the advantages, for many companies, significantly outweigh the cons. Because merchants are typically required to pre-purchase their products, it’s usually easier and cheaper to purchase a select few items in larger quantities than to offer a diverse selection.
Ways to Find Reliable Dropshipping Suppliers–
How to find dropshipping suppliers is the major question and perhaps the most vital factor for the success of your business. First of all, there is no hard and fast rule of finding a reliable dropshipping supplier
Go for the market research– Going for the market research is a very cliched term, but statistically market research gives you more value than simply Google search. Try to get as much information as possible from your competitors, co-partners and other dropshipping experts. It will give you a complete picture of the current dropshipping market. You can have a better understanding of the sector and get the most authentic information so that you can streamline your own decisions.
Join dropshipping communities– There are many online dropshipping communities out there where you can participate and interact directly with the suppliers who are experts in dropshipping. You don’t need to rely on them instantly, but at least you get a better view of how they function and what others are saying about their reputation and way of work.
Order from the competition- If you’re having a hard time locating a supplier, you can always use the old order-from-the-competition trick. Here’s how it works: Find a competitor you think is dropshipping and place a small order with that company. When you receive the package, Google the return address to find out who the original shipper was. In some cases, it will be a supplier you can contact.
Look for the suppliers with corporate websites & corporate email IDs– Having corporate website and corporate email ID are the sign of trust, authenticity and good business culture. Most of the reputed dropshipping suppliers have corporate websites and corporate email id. Unworthy suppliers will never invest in maintaining corporate culture. Their only intention is to get maximum amount of money out of their clients as they are not worried about their reputation and image.
Check online directories
You can locate wholesalers or distributors using online directories. These online directories have a database of suppliers that are organized by industry, market or niche. A lot of these online directories have their own screening process to make sure the legitimacy of the suppliers. Take a look at some of the finest directories for dropshipping suppliers-
- Wholesale Central
There are many factors and diverse strategies you need to take up for getting your hands on the most trusted dropshipping supplier who can bring in enormous value to your business. A number of different strategies may work for you, and some are more effective than others.