Over the years many have been researching for a possible new business opportunity. And many have to stumble in dropshipping.
Let’s make it quick, some think drop shipping was a scam. However, there are misconceptions about it. Honestly, there are millions of ways to skin a subject or methods of dropshipping which no one doesn’t know yet. That’s why we should always pay attention or do some research before jumping into hustling. To help you out, we have shared the pros and cons we learned about dropshipping. This will provide you some valuable insights to make better-informed decisions for figuring out dropshipping is worth it.
Now we have to start with the PROS starting a dropshipping business is not that costly? All you need is a product to market, the website and a little advertising cost that you will be up and running.
1. Decrease Risk
Since you are not dealing with tangible stocks or selling the merchandise yourself. Thus, you don’t have all the capital tied up in things. You don’t need to hat inventory sitting around waiting to be sold.
2. Has Room for Growth
In dropshipping business, the sky’s the limit when it comes to merchandise to sell. You can even appeal to a huge audience by stocking some trendy items, popular gadgets while also selling more niche items for a selected audience.
3. Stuck in the middle
In the dropshipping business, you will be considered as the middleman. You will be doing the selling to lots of different people and navigate delicate customer relationships. You may be getting stressful, particularly when things go wrong. Especially when you encounter unhappy customers – as if it was bound to happen.
4. Not costly
Every entrepreneur aimed not to spend too much expense. And dropshipping is a practical solution for them, especially start-ups. So, when you are dealing with suppliers, make sure you can get the best and affordable rates and packaging cost.
5. You can save space
Dropshipping will save you some space. When your business grows, you don’t have to worry since you don’t have a physical inventory, particularly of large items.
6. Convenient and Fast
Speed and convenience are essential when meeting deadlines. Dropshipping is an ideal way where you can add and discard items on your business page. And the good thing about dropshipping is that your initial cost (investment) is very low but as you grow your business, then perhaps you need to make some adjustments. When you spend more, you will also earn more. Meanwhile, the toughest part of starting a drop shipping business is finding the right suppliers to deal with. Finding the right suppliers can be dealing with the difference between success and failure. Therefore, you need the right supplier that will meet your criteria in order to work with them. Here we can give you’re the CONS of having a drop shipping type of business.
7. Customer Service
When you are selling but not providing your clients with a quality item or service, you could run into some problems with customer service.
8. Trial and Error
This is inevitable, in fact, everyone makes mistakes. So just keep moving and always take your lesson seriously.
9. Profit Ratio
This is actually stopping start-ups to venture in dropshipping. They may discourage the extra fees for packages and shipment of items. Thus, it is necessary to find suppliers that will not rob your bank.Are you ready to venture into dropshipping? If you are someone who doesn’t mind rolling up sleeves and putting hard work up front, this can be a great way to get an online side hustling.