Dropshipping business is grossing as one of the top route to making money online as eCommerce business soar higher than in recent years. The concept of Dropshipping business is simple and easy to understand. You don’t need to buy any eBook or attend special seminars either. This business entails creating an online store, displaying products for sale and selling to your customers through a third party site like AliExpress.
When I talk about displaying products on your online store, I’m not referring to physical products. What am I saying? You don’t need a product or a warehouse to make money in this line of business… Just pictures of products you want to sale displayed boldly on your online store. Dropshipping business in Nigeria is a big ball game and in this article, I’m going to guide you on how to make money from Dropshipping business before the end of this year.
They say a picture is worth a thousand words, check the image below.
HOW TO START A DROPSHIPPING BUSINESS IN NIGERIA
1. CREATE AN ONLINE STORE
Over 60% of drop shippers make use of Shopify stores to create an online store that allows them to display their goods, receive payments and to also to track orders and customers. This eCommerce website doesn’t just allow you to own an online store, they give you the flexibility you need to customize your store through numerous themes, plugins etc.
Other drop shippers use WordPress also, due to the total control that it gives. If setting up an online store for your Dropshipping business sounds like rocket science, then I will advise hiring a web developer to help you out. The price will differ from one developer to another. So chill and make a nice choice. No rush!
CHECK OUT: HOW TO CREATE AN ONLINE STORE
2. CHOOSE A NICHE
In Dropshipping business, you also have to apply the Law of Specialization if you must remain in the marketplace. Don’t be a jack of all trades and master of none. Most of the mistakes newbies make in Dropshipping business is usually going for products they personally love or have passion for. Well, I’m a respecter of passion, but that doesn’t work when it comes to Dropshipping business here in Nigeria.
You need a product that has a market, a product that its demand is high and at the same time, with less competition. Make use of Google Trends to find products which people are looking for.
3. FIND A SUPPLIER
According to my mentor, suppliers are the backbone of any Dropshipping business. Cut them away and you won’t have a business at all. The first source when looking for suppliers as a Nigerian should be AliExpress. It has also been speculated that 80% of drop shippers in Nigeria use AliExpress. You should too..
One of the major reason I love AliExpress is because most of their products are cheap, giving you a ground to make profit at the end of the day. Before you settle for any supplier, make sure that he’s reliable. This can easily be ascertained by studying the supplier’s reviews and star rating.
4. START SELLING
At this stage, you have an online store, the product you want to sale and a supplier on your speed-dial. The next logical step as long as Dropshipping business is concerned will be to start marketing your products. Utilize online platforms like Facebook, twitter, Instagram, blogs etc. to market your product to potential customers.
Dropshipping business in Nigeria is very lucrative, especially when you have succeeded in building a large customer base on social media and also through email subscription placed on your store.
5. RINSE AND REPEAT
To keep growing, you have to keep repeating the process over and over again until you have amassed so much wealth through Dropshipping business. One of the mistake people make in this business is not having the Growth Mentality. Please, don’t fall into that rank of drop shippers who love mediocrity. If you do this well, you might end up establishing perhaps, one of the top eCommerce store in Africa.
WHY DROPSHIPPING BUSINESS IS AN AWESOME BUSINESS
1. LOW INVESTMENT
The capital needed to start a Dropshipping business isn’t in millions. With a N100,000 budget, you can have this business running smoothly without any hurdle.
2. EASY TO START
This business is not hard science. The concept is simple, you create a store, transfer orders to a third party site like AliExpress. You don’t also need to be a bad ass programmer to manage your store. If you can Facebook, then you can do it.
3. 24/7/365 UP-TIME
Unlike a physical retail store, your online store is always online and automated. While you sleep, a consumer is at your store, making orders and paying without hesitation.
Dropshipping business is as lucrative as hell. I mean, it spills in money in bulk. I know a lot of drop shippers here in Nigeria that makes more than $3,000 monthly from their online store, selling products that are not even theirs. The funny aspect is that they have never even touch such a product before.
FREQUENTLY ASKED QUESTIONS
1. HOW DO I RECEIVE PAYMENTS?
“Receiving payments is very easy. If you’re using Shopify, you can utilize either the PayPal gateway payment or Paystack as a Nigerian.”
2. IN DROPSHIPPING BUSINESS, DO I NEED TO PAY TAX?
“As a Nigerian, you don’t need to pay any form of tax. However, if you’re in a country like the US, then you will”
3. WILL I PAY FOR TAX DUTY?
“The answer is still a capital NO. Everything have been paid for in the supplier’s site.”
COMMON WAYS DROP SHIPPERS MAKE EXTRA INCOME
After many months or years in the Dropshipping business, you can as well be termed as a guru due to your experience and success. Writing a comprehensive dropshipping eBook will be another means to earn extra cash in this profitable business.
2. GOOGLE ADSENSE
This is an advert program that allows publishers to earn money through placement of adverts on their site. As a drop shipper, you can earn extra income by applying for google AdSense. Even when your store fails to get an order, as long as there are some traffics, you’ll definitely earn with AdSense.
Dropshipping business is the business of the century, partly due to the rise in eCommerce business in the world. This time, Africa is yet to witness the full impact and you, my friend, should be on the front line of history makers. If you have any question, use the comment box and I will reply immediately. Don’t forget to share this awesome post. Sharing is caring!