Starting a Drop Shipping Company – Sample Business Plan Template
1. Market Research
This is sure of one of the most needful things that you really must take seriously if you want to make it big in this line of venture. You would need to do some market survey, so as to garner a truck load, if not more of the basic steps to be taken, the requirements, the number of people needed for this type business-if any, as well what having an ecommerce store would entail. Furthermore, you would need to study your competitors to know what makes them tick, as well as the loopholes they might be facing.
2. Determine the Type of Products to Deal In
This step is one of the very needful steps that you must determine early enough as you start your drop shipping business. You may decide to choose gadgets, food items, household appliances, vitamins and supplements, amongst many others. This is very needful because deciding on this early enough means that you are able to inform your wholesaler suppliers early enough to act on the order you get.
3. Contact Manufacturers
Now that you have an idea of the kind of product you want to deal in, then it is time to go a step further by contacting the manufacturers of these products. Staying close to them in form of having meetings with them and reaching an agreement as a partner with them of the terms of business becomes really necessary if you want to maximize profit.
4. Create a Website-: Except you are a web designer who is a guru that knows how things work best, you would definitely need the input of a very qualified web designer so as to have a good ecommerce store. You may want to consider a similar template as that of a competitor or coming up with something entirely new.
5. Operate From Wherever
If you are just starting out then you may consider starting from your home or wherever. This means that you do not need to start with renting an office space for now since you might not be dealing with clients physically. However, as you progress and look to expanding your business, then you may then begin to look to renting an office apartment where you may hire employees to man different tasks.
6. Feature Your Products
After these must have been done, then you may then begin to feature the various products you have on your ecommerce site. This means that the products which you would feature on your site are those that you have partnership with. This is so that you are able to turn in products as soon as they are ordered as stated earlier.
7. Set Good Prices
The aim of being in this kind of business is to make a whole lot of profit so that your business can move forward all the time. Be sure to get the good at good prices so that you can in turn make some good mark up as you set your prices. Also, be careful not to overprice the goods so that you do not end up scaring your customers away.
8. Market Your Ecommerce store
One of the ways drop shipping companies make good returns on their money is by engaging in rigorous marketing. This you also must do if you want to do really well in business. You may want to consider some of the following modes of advertisement; Hire a search engine optimizer whose duty would be to get your website listed on the first page of major search engines, such as Google.com and Lycos.com.
Also, be sure to place classified ads in major business magazines, do not forget to mention the type of products you sell in your classified ad, as well as include your phone number and address for people to call or write for more details.
Those are the ways to start building your own drop shipping business right from the scratch and reaching the zenith quickly as you work hard and consistently in view of meeting your targeted goals.
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