E-commerce sales amounted to about 3.5 trillion dollars globally in 2019. The dropshipping business has become lucrative. Starting up a dropshipping store as a female entrepreneur can be a great idea.
If you are ready to put in the work, dropshipping can help you build a successful brand. You can sell your products to customers at any price, making use of dropshipping.
You will also be in charge of marketing your brand. You pay for inventory only when your product is sold.
Dropshipping is a supply chain management method in which you don’t keep the goods in stock. Your customer’s orders and shipment details will be forwarded to you. You will ship the orders directly to your customer.
We will be looking at how women can start a dropshipping business. You will also get to understand the dropshipping business.
How Women Can Start a Dropshipping Business
You must understand how to start up a dropshipping business so that you can have a smooth ride in your start-up. Here are some steps to consider when starting up a dropshipping store.
1. Picking a Niche
You must pick a niche for your business. Your niche ought to be specific. This choice is the first step to starting a dropshipping business. With most niches already full, finding a niche becomes more difficult by the day. More niches are also rising daily.
When picking a niche, it is essential to pick one that is not overly saturated by famous brands. You should ensure your niche is also profitable. Here are some guidelines for choosing a niche for dropshipping.
- Begin with niches of your interests and hobbies. Identify a product that solves problems.
- Research your competition within your niche of interest.
- Make sure the niche is profitable, ideally a margin of 40% after shipping costs and taxes.
2. Competitors analysis
You can commence search on your competition, to educate yourself on the ‘what’s’ and ‘how’s.’ Here are a few steps you can start with.
- Type in the name of the products you want sell on google. The top search results on the search engine is a good indicator of your competition. You can also make use of a third-party tool to gather data. Examples of such tools include SEM Rush or Ahref.
- You can also search for niche competitors that are not high in search engines. You can make use of Alexa and SimilarWeb to access all the information you need.
- You can search social media for your competitor’s analysis. Check out Facebook ads for top brands, look out for what you can do differently, and check out their fanbase.
- You can get to know your competitors’ contents and how it is doing on BuzzSumo. This tool can enable you to know which content gets the attention of people on social media. You can also sign up for competitors’ newsletters to help you stay on top of their content.
3. Finding a Supplier
Locating a great supplier is a necessity. You can find one with Oberlo. Check on the platform for products and choose from the list of suppliers. It would be best if you researched the suppliers by reading up reviews.
You should also check how long the supplier has been active on the platform. From your list of potential suppliers, you take further steps to ask questions such as; minimum order quantity, shipping cost, and timing, etc.
Your list should be cut down to 2-3 suppliers, having gone through this process. You can decide when you place a sample order for products. Then you can compare the product quality, packaging, and order necessary items bearing your customer in mind.
4. Create a dropshipping business store
A dropshipping business store is crucial for you and your costumers. You can build your own dropshipping e-commerce business with some of the listed items.
If you intend to build a long-term brand, then a domain name is a necessity. You can make use of some free business name generators to get names. When using the niche as the keyword in the domain name, ensure it is broad. It shouldn’t be specific and do not use your name.
Shopify and Salehoo
You can also make use of Shopify and Salehoo, as they are two of the most accessible e-commerce platforms.
You can easily make use of one to run your business with all the available features. You can easily reach out to a Shopify or Salehoo guru to help you through the steps.
You can also easily personalize your store design with free and purchased themes. To learn more about Salehoo, you can check their website.
The Oberlo dropshipping help you search for products online for sale. You can have access to lots of famous niches.
Have a target number of products in mind. You can ask for assistance through Oberlo’s blog, social media, and their support line.
Once you have settled the above, it is time to take a crucial step in your dropshipping business. There is no need to be fidgety about this aspect. Here are some steps to commence with:
There is no need to spend so much money on Facebook ads. You can gradually start from a low budget to test the waters first until you start making conversions. It is essential to know that this is a gradual process.
Retargeting Ads are one of the best means to keep ad costs low. You use free traffic and convert them paying customers from blogs and Pinterest making use of retargeting ads. It is a lot cheaper than a Facebook ad.
If you are unable to pay influencers rates, you can work with affiliate commission. It is an excellent way to save and make money for both of you.
Lastly, you can begin analyzing the results of all your marketing. Optimization will help you find your successful marketing strategy. You can use Google Analytics or Search Console to evaluate your traffic and do monthly analytics on your third-party tools such as email marketing.
Starting a dropshipping business as a woman is not so hard. Applying each of the steps above will help you achieve your goals for your store. Finally, do not forget that if you want to succeed in the dropshipping business, you have to be all in.