Do you ever dream of owning your business but you step back by looking at huge investments and capital of starting the business, guess what now you can own your own e-commerce store and be the boss of your business.
What if I told you you can start your own e-commerce business with low investment and minimum capital, yes you can have your own e-commerce business with minimum capital let me show you how.
Dropshipping has become popular in India since the entry of Amazon and Aliexpress and many Indian entrepreneurs started their business in dropshipping.
What is Dropshipping Business?
Dropshipping is a business model in which the retailer does not require to
have a stock of the products which they are selling, instead, they give the order and shipment details to the wholesalers, and then the wholesaler will directly forward the product to the customer.
The benefit of this business is, the retailer does not have to take the hassle of storing the products in storeroom.
Benefits of a Dropshopping Business
- You can choose several products from your dropshipping store.
- The burden of maintaining a warehouse is eliminated.
- You don't require a hefty amount to commence the business.
- Retailers can price their products as per their preferences.
- There is fewer risk involved in this Business.
Is Dropshipping Profitable in India?
yes it is if you follow the right steps and dedicate yourself to your business, success and hardwork go hand in hand so you need to focus on your business and grow your business .
How to Start Dropshipping Business in India?
Now lets talk about real business so the first step to start dropshipinng business in India.
Register Your Business
The first and the most important step in starting your own Dropshipping business is to register your business because not doing so can you land in some serious trouble with Indian authorities so first register your business to know how to register your business you can read some articles.
Once you register a business or company, you can get lots of benefits from the Central and state governments. These include loans at low-interest rates and tax exemptions .’
Don’t forget you will get a Goods & Services Tax Identification Number (GSTIN) for your business. This is notably important nowadays to buy or sell anything in India. You’ll also need it for payment-related formalities.
Open a current account
Clearly, your in this business for earning money so you require a current account for the investments and money transfer you'll make while you grow your business. Having a current account is recommended by the experts if you require any foreign investments or money transfer in the future so its better to play safe.
While the Reserve Bank of India has specific guidelines for banks to offer Current Accounts, I would suggest you scout the market and find the best bank for your business.
Ill suggest you open your account in foreign banks because foreign banks have large networks of branches and correspondent banks across the world, which makes the transaction and money transfer more effortless for you.
Open a Paypal account
Having a PayPal account is total up to you if you want to ship your products in different countries or you know you will deal with foreign investments in the near future so having a PayPal account is a must for your business.
To open a PayPal account You’ll require the GSTIN number and Current Account details. PayPal will verify your bank account and other details before accepting your application.
List the products
List down the products you want to sell on your online store, choose the products you want to sell with the help of an expert in this business because you need to list the products that sell fast and in huge amounts so you don't incur a loss in the initial months of your business.
Finalize the category of products you wish to sell as a drop shipper.
For listing and selling the products on your e-commerce store you require a seller from which you can purchase the items in bulk. If you wish you can contact the suppliers by yourself or you can get the help of some services which connects the retailers and wholesaler. Our top recommendation would be Aliexpress and IndiaMART.
These services will make it easy for you to find the products and list them on your e-commerce store
if you are in an ecommerce business you have to think aboout the returns, customer can return the products if it is damaged or the customer is not completely satisfied with the product so you need to have a return policy with the seller if the product gets damaged during the shipment of thart product, you also need to look into providing the refund to the customers when they return the product.
You can minimize your returns by paying special attention to aspects like precise handling and shipment of products.
Open an e-commerce website
You want a platform to sell your products on, so to start your dropshipping business in India you need an e commerce website. you can set up your own site or you can use services like aliexpress which will handle everything for you.
If you prfer to sell your products in a small locality or only limiting to your city then facebook marketplace is what we recommend.
To expand your customer base you also have to promote your website on different social media platforms such as Facebook and Instagram.
After you initiate your website list the category of products you want to sell on your site finalize the price of the product carefully and also pay attention to return policies that are favorable to the customer. set up a secure payment method so that if a customer wants to pay online he/she can pay effortlessly, in India people prefer COD over other payment methods.
Now you know the steps to start your own e-commerce business get your business going here's a small tip for you, well suggest before entering this dropshipping market study the market properly and see if the business model suits you.
Here are some tips that will give you an edge over others
Before entering the business study your competitors thoroughly because they are already in this business so study your competitors and learn from your mistakes.
Select the products which are high in demand so the chances of your loss is less than normal.
Hardwork is the most important key to success so after starting your own e-commerce business dedicate yourself in your business strive hard and you'll get the results. there are ups and downs in every aspect of life so if you ever fail in your business don't give up stand up and work harder than before.