1. Selecting the Right Supplier
Choosing the right supplier is the most important task for any seller interested in dropshipping. One should research the suppliers thoroughly to determine their availability and outline the products they supply. A seller should check if the supplier is trustworthy before establishing a long-term business relationship.
Since India is still new to this trade, you may face fake suppliers. You should be cautious and check the credibility of every supplier.
You should be wary of suppliers who depend on a third-party manufacturer to procure products. Choose suppliers who manufacture the products. Managing a long chain can make it difficult for you to keep track, and you will not be able to account for any mishaps. If you do not find manufacturer suppliers, you should approach distributors. Take a look at their inventory and ensure their authenticity.
Ask suppliers about their delivery times. You should opt for faster shipping to beat the competition. Currently, while products are delivered within a day – you should try to get your products shipped within at least 3 to 4 days.
When you evaluate suppliers, you should check their charges and payment methods. You may be asked for a one-time fee at the beginning of the services, and later you will be charged separately for each order. Some of them may ask for a minimum order size to check the seriousness of the vendor.
Calculate the profit you get after paying your supplier. The profit margin may be low initially, but you should be careful to set your prices accordingly. Higher margins can lead to better profits.
Check if your supplier can provide white-label products. White-label ensures that your products are manufactured and packaged under your brand name. This can be a huge plus point if you are trying to establish a brand. Your customers will recognize your products.
GST laws may interfere with some businesses, but it won’t be a problem if you run your dropshipping business as an individual. You should also clarify GST requirements with your supplier beforehand to avoid getting into any legal hassles later.
2. Decide which products to sell
Once you have chosen a supplier, you can finalize the product. Browse all the products offered by your supplier. You can also discuss and identify the best-selling products. If it is an online store, you can use some simple tools and hacks to identify the best-selling products.
Make a list of products you can sell and check their variety on other online stores like Amazon and Flipkart. In the process, you will get many ideas for the product design, description, and pricing. You will see that similar products are already being sold through dropshipping. However, there are many variations to sell for the same product. Find your niche and see what works for you.
So, good product design is a must to make your business stand out. After that, you should ensure good quality and thoughtful packaging. You should keep updating the products at different times of the year. This will require months of research and studying consumer behavior.
3. Design your website
A good store should have a website where customers can view the products. A website makes you credible. This is where you can assure your customers of your brand value and quality. As soon as you finalize the products you sell, you need to get a virtual representation for them.
Get a domain name and create an attractive and user-friendly website. It should be an organized site where customers can easily find what they are looking for. You can also create a blog that can guide your customers to make better purchases. You can list all the payment methods, and you can also get customer feedback and comments on the website.
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