There are a few different ways actually how you can start a business with no money these days. However, today I am going to talk about the one that requires probably the least and can provide you some of the best experience in making money online. What I am talking about is Dropshipping.
1. What Is Dropshipping
Dropshipping might be the best way to start a business with no money or little money and it is because of its core principle.
You are not manufacturing product yourself, but rather selling products other people have already made.
This means the sky is your limit. You can have an e-commerce shop with as many products as you wish and they can be as expensive as you wish.
But you do not actually need to have any money to have such an e-commerce shop with all these products.
The way dropshipping works is you find a wholesaler and then post their products on your e-commerce website.
When someone buys one of the products, the wholesaler sends out the product directly to the customer.
You put up whatever margin you want on the wholesaler product price at your website. That is the money you earn.
For example, a wholesaler might sell a necklace worth $2 and you might put it up on your website for $10 dollars.
That means when someone buys it you earn the $8 difference.
2. How To Start Dropshipping Business
There are two ways you can go about start doing this.
• Find A Niche
You can find a very passionate niche of people that are absolutely insane about a certain thing and then find products in that niche.
This is great, as a targeted niche audience has higher purchase intent and also is easier to market to than general audience.
There are a lot of different types of niches, but it is probably the best to find a hobby that people get obsessed about and are willing to spend money on.
• Find A Winning Product
Another way to go about it is to actually just found some really well selling product and start from that.
It can become a little harder as it may be difficult to expand past one product.
However, at the same time if you find a really well-converting product you can make enough money just from that one product and then move on to looking for another product.
3. Where To Find Products
There are a lot of different options where you can find products and suppliers.
You can use such tool as Salehoo to find literally thousands of products and suppliers.
However, the most common and probably the easiest way is just to find something on Aliexpress.
It is very simple to find a huge variety of products on Aliexpress and there are tools that allow you to easily import those products into your e-commerce store.
4. How To Start A Dropshipping Store
You can find a free e-commerce platform and actually start a business with no money whatsoever.
However, I would advise investing a few dollars as it is going to make your life much easier and give better results.
If you are not willing to invest $50 or $100 into starting a business that can potentially generate you hundreds of thousands. Then I would say do not start at all.
There are two ways that you should really start a dropshipping store.
This is probably the most common way people set up drop shipping stores and there are a couple of reasons why.
This is a more beginner friendly and easier way to set up an online store.
A lot of apps on Shopify are specifically created for dropshipping making a lot of fo things much easier.
You have monthly plans, so you do not need to pay a big amount of money upfront.
You can get a FREE Shopify Trial Here.
Wocommerce is a very common option as well, though not used as much for dropshipping as Shopify.
If you already know WordPress than Woocommerce is going to be easier to use.
You do have to buy plugins and pay for plans yearly, but at the end, it probably comes down to be cheaper than Shopify.
With Woocommerce you can really have as much customization as you want.
5. How To List Dropshipping Products
Once you have created your online store either using Shopify or Woocommerce you want to start adding products.
This is actually very simple to do because you can just use the picture and information from the suppliers you found.
You might want to spend some extra time to find better pictures and adjust the text to stand out, but this is a topic on its own.
You can do this manually, buy simply saving the pictures and then uploading them to your store.
Or you can do what I definitely recommend to do and just use apps/plugins that automatically import products into your store.
For Shopify you can use Oberlo, which is a great tool, or you can jump straight to Dropified, which is more advanced tool, but you most likely will want to switch to it in the future anyway.
For Woocommerce you can use AliDropShip, which basically does exactly same things as the apps mentioned for Shopify.
In short, all of these allow you to import products straight from Aliexpress with just one click and you can easily adjust products and it keeps track of stock automatically.
There are a bunch of different benefits, but I will not get into them right now.
Once you list the items on your website you just want to put whatever margin you think is right for the product from the supplier
6. Start Selling
There are a lot of different ways how you can do that, so it is really up to do to decide if you want to do some of them or maybe all of them.
The most simple way is trying to drive traffic with SEO (Search Engine Optimization).
This does require a lot of time and effort, but if you manage to rank for a certain keyword, then you can just sit back and let gGooglebring in customers to your store.
Another very common way is to do paid advertising, whether it is Facebook ads, or Google ads or whatever else.
This is an easy way to lose out money if you do not know what you are doing, but also can be very efficient if you do know what you are doing.
Besides that, you can also use influencers or grow your own social media following and drive customers to your store via your social channels.
This is a huge topic and I will make a lot of separate articles on how you can drive customers to your dropshipping stores.
Dropshipping is not the only way you can start a business online with no money, however, it is probably the most popular and that is for a reason.
Dropshipping has the highest potential for possible returns and requires literally no or very little initial capital.
I would say is a great tool to earn money quickly and learn all that you need about e-commerce before launching your own brand.
A lot of people actually do not even launch their own brand, as they enjoy that you do not need to hold any inventory for dropshipping.
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