Just like other business systems,
Dropship system also has its own advantages and disadvantages. This is what we
will discuss further Start a Dropshipping Business.
How
to Start a Drop Shipping Business
- Advantages of Dropshipping Systems
1.
Without Big Capital
Especially for beginners, capital that
crew is often a classic problem. Well, this Dropship system is guaranteed very
helpful for beginners who want to sell online with limited capital. Sellers can
sell products online without storing stock first and do not incur operational
costs such as salary, electricity and employees. Sales can also be done easily
through social media sites such as Twitter, Facebook and Instagram, through
free blogs, through WA and trading forums.
2. Super Practical
Drop shipper will not be bothered with
the affairs of product packing and shipping process as all has been done by the
supplier. You only do follow up order from buyer to supplier only.
3. Can Be Done From Anywhere
As long as we have gadgets and connect
with internet connection, then we can do Dropship business easily.
How to Start a Drop Shipping Business
- Lack of Dropship Business
1. Smaller Profits
Inside the drop shipper business
usually the profit margin is taken smaller. The seller may actually raise the
price higher, but if competitors are quite a lot while the products we sell the
same, then it is tantamount to suicide. Therefore, the average Drop shipper chooses
not to set prices higher than the supplier's price How to Start a Dropshipping Business.
2. Freight Stock Info Often No Up Date
Drop shipper certainly does not know
the stock of goods up to date because the real stock is only known by the
supplier / vendor. Often also suppliers / vendors late to update the stock on
their site.
3. We Are Not Really Knowing Product
Quality
When the buyer asks for details about
the product to buy, Drop shipper is often confused to answer for not having the
product and lack of understanding. The fact is that many Drop shipper who do
not understand the specifications of products sold and only focus on marketing.
Whereas when Drop shipper does not seem to understand the product when the
buyer asked, then this can reduce its credibility.
3. Complain
How
to Start a Dropshipping Business
- When purchased product does not match, delivery is late or packing is messy,
then Drop shipper must be ready to accept complain from buyer. Though of course
the Drop shipper has no control over the product and the packing process.
Tips
on Choosing a Drop shipper Supplier
If you want to succeed in this
Dropship business, then you should really do a good selection in choosing a
supplier / vendor. Basically, a business model like this will only work well if
the supplier / vendor can provide good service to its drop shipper.
1. Take Products from First Hand
(Wholesale / Wholesale)
When you take the product from the
first hand (wholesale / wholesale), then you will get the best price or profit
a tolerable. These wholesale traders will usually choose to earn for a little,
but many items can be sold.
2. Supplier Has Credibility
Choose a vendor / supplier that
already has a good system that makes it easier for you to work together and
market the product. This supplier usually has a simple ordering and
confirmation system, and can make ordering, packing and shipping process with
minimal complaints.
3. Fast Response
Supplier can be contacted easily and
reply your message actively and friendly. But often one vendor has many
suppliers, so Drop shipper also be patient when in some times the supplier is a
bit slow in replying to your message.
How
To Start A Drop shipper Business
1. Looking for Distributors of
Cooperative Products
How to find it? You may do research
through social media, Google, marketplace, forum or advice from friends. Lots
of online stores that now provide special services for registration Drop
shipper.
2. Contact Distributor
If the distributor does not provide
registration service, please contact the distributor directly. By contacting
distributors, you can also build good communication as a Drop shipper so that
in the future your business can run and grow well.
3. Sell
If you have the product and found the
distributor that you think is best, your next task is to throw the product into
the market. As a prefix, just choose social media (Facebook, Twitter and
Instagram), instant messaging (WhatsApp, Line, BBM) and marketplace as your
marketing place. If you are diligent and focused in building this business,
then I am sure you will definitely succeed with this Dropship business.
Then what about Reseller business? At
a glance Reseller looks similar to Dropship. But the system, both are much
different. In the Dropship business you are not required to stock the goods,
while in the Reseller business, the supplier / vendor requires you to purchase
products with a certain minimum amount to obtain the reseller price for a
reasonable profit margin.
Profit is indeed Reseller business
tends to give more profit compared to Dropship business. Here the seller will
also hold the product physically so as to be able to present the product
appropriately to the buyer according to the product specification. The seller
will also perform their own packing process and make their own shipping process.
Better Where, Dropship or Reseller?
Both are as good as I am. It all depends on you more comfortable with which
system. If you are afraid of unsold goods, then a secure business like Dropship
will give you convenience. But if you are confident with the product you are
selling, you want to know the details of the product you have and also want a
decent profit, then Reseller is the choice.
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Do you want to start a small business in financial service? As long as you have skill you can start your plan right away and make money from it. The information below is the list of 10 best financial service small business ideas you can choose to make money in financial service business.
1. Financial Analyst
If you want to start a small business in financial service industry, you might be a financial analyst. Financial analyst is one of popular financial services because some companies deal with complex financial investment and management. That’s why those companies hire a professional financial analyst. The interesting, you don’t need to work as a full time worker because some of companies love to hire freelance or financial analyst on contract. It will be better if you have experience in handling financial investment or management. Your experience makes company sure whether they have to hire you or not.
2. Personal Financial Advisor Service
The next great a small business in financial service you can start is personal financial advisor service. Personal financial advisor is also a popular business because people want to manage their money better but they don’t know how. Moreover, some people hire a personal financial advisor service because they want to prepare their retirement well. They want to know how to earn money, keep it, use it, and invest it for better future. In fact, they also have to anticipate specific things such as medication cost and daily needs.
3. Sales Agent
Big financial service is trying to grab more customers to use their financial service. They need someone to explain everything to the customers. If you have a skill to convince people and a lot of friends, you may try to be a sales agent. Sales agent agency is a great small business in financial service because some financial companies need your skills and service. The salary is various and it depends on your performance in attracting people.
4. Microfinance Banking Service
Do you have more money or skill to find investors? Microfinance banking is one of 10 best financial service small business ideas. Some of small businesses need more capital to run and grow their business. Sometimes, regular banking service doesn’t cover their needs. Mostly, microfinance banking is the best option. By creating microfinance banking agency, you can earn profit and make money from financial service industry. You may find investors to support your agency and make sure that the investors earn interesting profit so they willing to share their money.
5. Asset Consultant
Most companies are also having problem with how to manage their asset. For those who have specific skill to manage business asset, you may try to make money by being an asset management. Those companies have bigger assets and it has to be managed well and effectively to develop their business safely and smoothly. The most interesting, you have a chance to earn bigger amount of money from developing asset management agency.
6. Financial Consultant
Some people are afraid to invest their money or start a business. They need a suggestion from the expert so they know what to do. This is your opportunity to help them as well as earning some amount of money. You can try to build a financial consulting agency. Your job is to give great suggestions so your clients can use their money wisely, safely, as well as increase the amount. You also give more information about the benefits and the risks of specific investment or business.
7. Business Process Outsourcing Agency
Running is a business involves a lot of processes and most of them are complicated to finish. Companies need a help from people who can handle the detail so they can run the business well. Just try to be a business process outsourcing agency. In fact, companies tend to hire freelance workers due to the low cost. By the time you done with managing some details of the company, you will get paid.
8. Online Marketing Service Agency
Online business develops significantly but some of businesses don’t know how to handle it well. Being an online marketing service agency is also a good chance if you want to start a business in financial service industry. Some of possible jobs you can do are including content writer, copywriter, search engine optimization agency, website designer, and many more. Just make sure what online businesses and be a solution for them.
9. ATM Engineering
Do you have engineering skills? You don’t have to be a financial advisor if you don’t have skill on it. Being ATM engineering can be a good career opportunity. Most financial institutions need your skill because they need to make sure that their ATM runs well. If there is a problem, they can fix and repair the ATM and of course they need you. You may start to offer your service to financial services especially banks.
10. Insurance Underwriter
It is also an interesting to be an insurance underwriter. In this case, you have to decide whether the insurance coverage is accepted or rejected. Your skill is very useful for insurance company. Interestingly, some of insurance companies also tend to hire freelance insurance underwriter than a full time insurance underwriter. It means you can finish the job in flexible time and earn your money by the time you finish the job.
So, which one of 10 best financial service small business ideas you want to choose. Just choose based on your favorite and skill to earn money maximally.
